Economist: The Federal Bank requires Iraq to hand over oil revenues

by **Rocky** Mon 16 Jan 2023, 10:00 am

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Economist: The Federal Bank requires Iraq to hand over oil revenues

by Rocky Mon 16 Jan 2023, 10:00 am

[size=45][size=41]Economist: The Federal Bank requires Iraq to hand over oil revenues[/size]
1 hour ago
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Economic expert Nasser Al-Kinani confirmed, on Sunday, that the US Federal Bank requires Iraq to hand over its revenues from selling oil to the countries of the world, while stressing that it is possible to invest in oil exports in the face of the dollar crisis.
Al-Kinani said in a press interview seen by “Takadam” that “the Federal Bank imposes on Iraq the delivery of oil export revenues to the countries of the world,” noting that “Iraq cannot dispense with foreign currency at all because of the international link with the dollar.”
And he continued, "Iraq has the opportunity to barter, through oil in exchange for work or projects directly, without the need to deposit Iraq's money in America," noting that "it is possible to invest oil exports in the face of the dollar crisis."
And on the method of supplying money to Iraq, Al-Kinani said, “The Federal Bank is working to send money in dollars to Iraq from time to time, or at the request of Iraq.”
It is worth noting that the Development Fund for Iraq was formed according to UN Security Council Resolution 1483, to protect Iraqi funds from international claims and their piracy after the events of 2003.
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