19 July 2023

Media reports cited U.S. officials confirming that the U.S. had “barred fourteen Iraqi banks from conducting dollar transactions… after uncovering information that they engaged in money laundering and fraudulent transactions”. A senior U.S. official indicated that “we have strong reason to suspect that at least some of these laundered funds could end up going to benefit either designated individuals or individuals who could be designated… Of course the primary sanctions risk in Iraq relates to Iran”.

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