Washington has maintained control over Iraq’s oil revenues since its illegal 2003 invasion – a financial and economic subjugation that undermines Iraqi sovereignty and denies it access to its own national treasure.
In July, the Iraqi Central Bank halted all foreign transactions in Chinese Yuan, succumbing to intense pressure from the US Federal Reserve to do so. The shutdown followed a brief period during which Baghdad had allowed merchants to trade in Yuan, an initiative intended to mitigate excessive US restrictions on Iraq’s access to US dollars.
While this Yuan-based trade excluded Iraq’s oil exports, which remained in US dollars, Washington viewed it as a threat to its financial dominance over the Persian Gulf state. But how has the US managed to exert such total control over Iraqi financial policies?
The answer lies in 2003, with mechanisms established following the illegal US-led invasion of Iraq.
A legacy of ‘Operation Iraqi Freedom’
Since the signing of Executive Order 13303 (EO13303) by President George W Bush on 22 May 2003, all revenues from Iraq’s oil sales have been funneled directly into an account at the Federal Reserve Bank of New York.
🔗SOURCE ➡️ The Cradle
Related: 9/13 — Iran Inks 14 Cooperation Agreements With Iraq During Pezeshkian’s First Foreign Trip
9/11- The US Refuses To Withdraw Its Troops From Iraq And Insists On Retaining Total Control Over Iraqi Oil Revenues. This Is How The Americans Humiliate Iraq Every Single Day. —@TheCradleMedia
8/10 — US Troops Return To Oil-rich Kirkuk Despite Talks To Withdraw From Iraq
8/9 — US Kurdish Allies in Syria Set Free Hundreds of ISIS Fighters To Put the Terror Group Back Into Play in Iraq and Syria
8/2 — Iraq Boosts Security On Syrian Border After US Proxies Free Hundreds Of ISIS Fighters
7/9 — US Delays Announcing Timetable for Iraq ‘Withdrawal’
7/9 - Iraq to Receive Turkmenistani Gas via Iran-Built Pipeline
3/29/23 - Iraq Signs Five-Year Natural Gas Deal with Iran
7/26/23 — The End of The PetroDollar, The Rise of BRICS is Here — TheMcgwire / PsyopDaily original
7/26/23 — The End of The PetroDollar, The Rise of BRICS is Here — TheMcgwire / PsyopDaily original
7/19/23 - US Issues New Sanctions Waiver Claiming to ‘Help’ Iraq Pay For Iranian Gas
…only to sanction 14 Iraqi banks the next day.
7/20/23 — US Bans 14 Iraqi Banks in Crackdown on Iran Dollar Trade
These sanctions on Iraqi banks plays into the same dynamic seen with the US targeting individual banks in Turkey and the UAE with sanctions, after the nation’s ignored the US’s threats I highlighted in my March 2022 series....
....The real question is why should the sovereign country of Iraq ... have to beg the US permission to conduct business with its neighbor that is in its own interest?
Somewhere in the answer to that question, is the prime reason for why BRICS is rising.
...7/25/23 — Washington Names Itself ‘Custodian’ of Iraqi Debt Payments to Iran via Oman
And thus, its no wonder the global south is breaking away from US control, when it so often overrides their own interests[and sovereignty]
7/12/23 — Iraq to Trade Crude Oil for Desperately-Needed Iranian Gas
7/5/23 — Iraq Wants to Drop Dollar in Iran Trade to ‘Relieve US Pressure’: Report
”Over the past several months, Iraq has been working to lessen its dependence on the US dollar after Washington implemented several strict measures, including sanctions on Iraqi banks and rationing the dollar supply.."
4/6/23 — CIA Director Tells Saudis the U.S. Was Blindsided By Iran Normalization Brokered by China
2/22/23 — Iraq to Allow Trade With China in Yuan - State Media
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