Economist explains the benefit of the “trade exchange platform” and confirms: US Treasury sanctions

Posted on[You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.]

[size=52]Economist explains the benefit of the “trade exchange platform” and confirms: US Treasury sanctions raise the price of the dollar[/size]

[size=45]Economic researcher Ahmed Abdul Rabbo explained the benefit of creating an Iraqi platform for trade exchange with the world, while stressing that the sanctions imposed on Iraqi banks by the US Treasury are the reason for the rise in the dollar price in the Iraqi parallel market.[/size]
[size=45]“A large part of the rise in the dollar exchange rate is due to political problems, as the United States prevents Iraq from transferring oil dollars to countries sanctioned by the US Treasury, such as Iran and Russia, as well as other countries in the world, such as China and Syria, through Iraq’s commercial dealings,” Abdul Rabbo said. “This leads to the absence of an official platform for transfers between Iraq and these countries, and thus the dollar in the local market, or what is called the parallel market, is withdrawn, and in the end the dollar exchange rate rises, as is happening now.”[/size]
[size=45]Abdul Rabbo pointed out that “the Central Bank intends to conduct negotiations with the US Treasury and the US Federal Reserve to arrange the status of the dollar and dollar payments coming to Iraq, in addition to looking into the issue of the sanctioned banks.” He noted that “part of the sanctions imposed on these banks were due to dollar transfers.”[/size]
[size=45]He stated that "Iraq cannot get rid of the dollar's dominance, at least at the present time, because oil revenues go directly to the US Federal Reserve's account."[/size]
[size=45]Abdul Rabbo concluded, "Iraq must arrange its papers with the Americans in this regard, and find a platform for trade exchange with Syria, Iran, Russia and the sanctioned countries in order to prevent the withdrawal of the dollar."[/size]
[size=45]It is noteworthy that Iraqi Foreign Minister Fuad Hussein said last July that Iraq had engaged in discussions in Washington with representatives of the US Treasury Department to address issues of dollar restrictions.[/size]
[size=45]Hussein described the meetings, during a press conference, as “very useful,” noting that they will continue, and the topics scheduled for upcoming discussions include further talks on the list of Iraqi banks subject to US sanctions and the status of Iranian funds accumulated in Iraq.[/size]
[size=45]The dollar exchange rate rose today at the closing of the Iraqi stock exchanges, as the dollar price recorded an increase to reach 149,500 dinars for every 100 dollars, while this morning it recorded 149,300 dinars for every 100 dollars.[/size]
[size=45][You must be registered and logged in to see this link.]