US Treasury Secretary Scott Bescent said on Thursday that the sanctions imposed by US President Donald Trump on Iran “aim to close its oil industry and the collapse of its already struggling economy.”
Besent added in statements to the Economic Club in New York that “America imposes strong sanctions on Iran to achieve “the maximum immediate impact.”
“Trump’s goal of his sanctions is to reduce Iran’s oil exports of 1.5 million barrels per day to their lowest level,” he added
, according to Western media.
“We will close the Iranian oil sector and drone manufacturing capabilities,” US Treasury Secretary Scott Besnet said, adding that the Trump administration also intends to cut off Tehran’s access to the international financial system.
“Making Iran bankrupt again will be the beginning of our updated sanctions policy,” he continued, continuing: “If I were Iranian, I would have got all my money from the Iranian rial now.”
GM Red, The CBI’s call on December 29, 2024, to give category (C) currency brokers until March 31, 2025, to merge into (A) or (B) groups is a big deal— it’s a key first step toward a unified rate.
It’s like tidying up the messy backyard before the big party. Those small C firms often feed the parallel market (pushing rates to 1,480/1500 IQD/USD), so merging them into bigger, regulated A and B outfits could choke off that unofficial dollar flow.
It fits right with the IMF’s advice to boost dinar trades and Saleh’s point about official channels taking over. If they pull this off by March, it could set the stage for the CBI to announce one rate across Iraq.
Hello Mountain Goat, I hope you had a wonderful weekend. I have a question, if the UST and Iraq want controll over thier currency, wouldn’t putting the IQD back onto the Forex allow more control.
It seems to me then there would be a place of reporting to as to where the money goes And the black/parallel market would automatically cease to exist. Especially now that they’ve gone digital. Is this correct? PS. I do not read the gurus. I learned a while back not to do that, it only creates doubt and disappointment. Thank you Suki
Answer from Mnt Goat:
Guten Tag Suki. Hope all is well with you. Glad you are staying away from all the garbage intel out there these days from the so-called gurus. Thank you for the excellent and intelligent question. As usual there is no short cut answer and so I am going to give it all to you.
You are correct in your analysis that, as far as Iraq and the US dollar goes, the reinstatement of the dinar could theoretically solve many problems. You know it, I know it and the CBI knows it and so why don’t they do it? The only reason at this point in time they do not reinstate the dinar, is all just politics and corruption and nothing else. Believe me there it NOTHING else for Iraq to do in banking reforms, insurance or the stock market. It is all set and in place.
To reinstate, they will need the Project to Delete the Zeros first, but the finance committee and parliament must pass a ruling for the CBI to do it. To get around this they are thinking about a Digital Currency, as we read in recent Newsletter. This would bypass the necessity to do this Project to Delete the Zeros.
Can you see the struggle the they are in to free their currency?
Also, the U.S. is the main player in Iraq as they spent billions in resources and lives in the two wars. So, they are using this reinstatement event as leverage as long as they can. There is no hurry for these U.S. politicians as, I said many times already, they exchanged already in late 2012-early 2013 and so don’t give a shit about us investors.
Meanwhile Iraq suffers and we investors suffer. Iraq is intended by the US to jump through hoops to end the corruption with the dollar, meanwhile the solution stares them in the face. I know it is a sad situation and so when I say Al-Sudani is fighting an uphill battle this is what I mean. How much longer can they go until the US releases the dinar? Well…they already set the bar and it’s getting the dollar equal to or close to the “official” rate from the Central Bank.
They also told us they need to resolve the issues with Iran. So there we have another set of criteria, yet another hoop to jump through. When they complete these tasks, what is next? Will they finally release it? We won’t know until we get there.
What comes first the chicken or the egg. That is the game they are playing. I know it is weird and I hate this situation but that’s the game the U.S. is playing with Iraq.
Meanwhile the United Nations has come out vocally and said the dinar should be reinstated and all DFI funds returned to Iraq. But we can’t control it. It is being done to isolate Iran and finally break that country. I was hoping President Trump, who claims to work out of “common sense” will drive this home for Iraq. Let’s see what happens. It is still a bit early in his administration to tell.
#IQD
Just a clarification for people who asked me.
It means that they have licensed a category A currency exchange company.
It is formed as a joint stock company .
Translation some times screws up.
It's not IQD stock exchange.
There are 3 types of currency exc hange companies in Iraq, A ,B,C.
The category C will seize to exist post March 31st as they are ordered to merge with category A or B before 31st March 2025 by CBI.
Shafaq News/ US Treasury Secretary Scott Besant vowed on Thursday to close the international financial system to Iran, saying, “If economic security is national security, the Iranian regime will not have both.”
The United States will target “regional parties” that facilitate the transfer of revenues to Iran, according to what Reuters reported from Bessent.
He added: “If I were Iranian, I would convert all my money to non-rials (Iranian tomans) by now… Sanctions will be used clearly and aggressively to achieve maximum immediate effect.”
The United States will “completely” disrupt Iran’s oil sector, according to Bessent, who said Washington will also halt Tehran’s ability to manufacture drones, stressing that the United States will exert maximum pressure on Iran through sanctions.
