27 July 2023

A U.S. diplomatic spokesperson confirmed that “earlier in July the Treasury Department and the Federal Reserve Bank of New York removed fourteen banks from access to the Central Bank of Iraq’s foreign currency sale window, known as the dollar and wire auctions. These actions help limit the ability of bad actors seeking to launder U.S. dollars, profit from the exploitation of money owned by the Iraqi people, and evade U.S. sanctions”.

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