Introduction: Why Sanctions Matter More Than Headlines
Recent commentary from Jeff delivers one of the clearest breakdowns to date of where Iraq truly stands on sanctions, what has already been removed, and what still prevents Iraq from fully going international.
While many believe sanctions are “mostly gone,” Jeff clarifies that one final barrier remains—and it is the most important one.
Which Sanctions Are Gone — And Which Remain?
Jeff addressed this question directly:
Sanctions That Are Already Gone
✅ UN Chapter VII sanctions – REMOVED
✅ Oil export controls – REMOVED
✅ Pathway to WTO – OPEN
✅ IMF and World Bank access – ACTIVE
These are major milestones that confirm Iraq is no longer treated as a restricted or isolated nation under international law.
The Last Remaining Sanctions: OFAC
According to Jeff:
👉 The only remaining sanctions on Iraq are within OFAC (U.S. Treasury)
Why OFAC Is Critical
OFAC restrictions control:
International dollar transactions
Cross-border banking activity
Global financial integration
Without OFAC clearance, Iraq cannot fully operate on the international stage , regardless of other progress.
Why a Rate Change Is Still Required
Jeff made a key point:
“To go any further forward after the government is formed, they have to change the rate.”
In other words:
Government formation alone is not enough
A rate adjustment is required for Iraq to move fully international
OFAC, audits, and rate change are interconnected
Why Iraq Is Being Audited Right Now
As Iraq approaches the second half of government formation, Jeff revealed a critical development:
Savaya’s Envoy and Financial Audits
Savaya’s representative is going in to open the books
Purpose: financial review and audit
Timing: before sanctions are lifted
Why This Matters
“Part of the reason they’re auditing them is because they’re getting ready to lift the sanctions so they can go international.”
Audits are a final compliance step, ensuring:
Transparency
Financial integrity
Readiness for global banking standards
This is standard procedure before OFAC sanctions are lifted.
Political Acceleration: This Can Move Very Fast
Jeff emphasized that the next critical milestone is parliamentary action:
What We’re Watching For
A formal parliament session
Vote on the President
Announcement date still pending, but very close
Once this happens:
“When they get to the point of a prime minister, this can go very fast.”
Same-Day Announcements Possible
Jeff believes:
President and Prime Minister could be announced the same day
Political timelines can compress rapidly once consensus is reached
This supports earlier commentary from other analysts that Iraq does not always use the full constitutional timeline.
Featured Snippets (Google Discover Optimized)
What sanctions still remain on Iraq?
The only remaining sanctions on Iraq are OFAC restrictions under the U.S. Treasury.
Why is Iraq being audited now?
Audits are being conducted to prepare for lifting OFAC sanctions and allowing Iraq to operate internationally.
Does Iraq need a new exchange rate to move forward?
According to Jeff, a rate change is required after government formation for Iraq to fully go international.
Can Iraq announce a president and prime minister the same day?
Yes. Jeff states this is possible once parliament reaches that stage.
Q&A Section
Q: Is Iraq still under UN sanctions?
A: No. UN Chapter VII sanctions have been removed.
Q: Can Iraq trade oil freely?
A: Yes. Oil export controls are no longer in place.
Q: Why does OFAC matter more than other sanctions?
A: OFAC controls international banking and dollar-based transactions.
Q: Does an audit mean sanctions are about to be lifted?
A: Audits are typically conducted immediately before sanctions removal.
Q: Is this confirmed by official sources?
A: No. These are interpretations and opinions shared by Jeff.
Important Disclaimers
Jeff Commentary Disclaimer
All statements reflect opinion and analysis, not official confirmation.
General Disclaimer
THIS CONTENT IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE FINANCIAL, LEGAL, OR INVESTMENT ADVICE. ALWAYS CONSULT A QUALIFIED PROFESSIONAL.
Final Analysis
With:
Nearly all sanctions removed
OFAC as the final barrier
Audits underway
Political leadership close to confirmation
Iraq appears to be checking final compliance boxes, not starting from scratch.
The structure is already in place. What remains is execution and timing.
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Jeff
What are the remaining sanctions?
UN Chapter VII sanctions, gone. Oil export controls, gone. IMF, World Bank access still active. WTO pathway is open...The last remaining sanctions on Iraq are within OFAC.
To go any further forward after the government is formed they have to change the rate. With that said...as the government nears the second half of the formation, Savaya's envoy is going there to open the books to give them a financial review/audit.
Part of the reason they're auditing them is because they're getting ready to lift the sanctions so they can go international. It's about allowing them to go international. The last remaining sanctions is OFAC.
The news is phenomenal. Looks amazing. The next critical thing we're looking for is when they're going to have and hold a session of parliament to tackle and vote on the president. They haven't given us that date yet but they're in close proximity to doing that...When they get to the point of a prime minister, this can go very fast...They could announce the prime minister the same day they announce the president.
