Economic warning of Iraq’s return to Chapter VII
Economic warning of Iraq’s return to Chapter VII
7-24-2023
Information / Baghdad…
Economic expert Abd al-Hasan al-Shammari warned, on Monday, that Iraq would return to Chapter VII and impose sanctions on it due to banking violations of the Swift system, stressing the importance of diversifying the sources of the economy and trade exchange with capitalist countries.
Al-Shammari told Al-Maalouma, “The government does not need to take measures to ensure that the exchange rate of the dollar is returned to its official price, after recording a rise from its previous level a week ago today, especially after imposing sanctions on a number of Iraqi banks.”
He added, “Ensuring that sanctions are not imposed on Iraqi banks and the continuation of selling the dollar in its natural state depends on Iraq’s commitment to international resolutions and the Swift system, and otherwise Baghdad will face sanctions that may return it to Chapter VII.”
And he indicated that “the exchange rate of the dollar may reach 1,700 dinars in the coming days, in the event that sanctions and transactions that violate international resolutions continue to be imposed.”
He pointed out that “the country is liable to return to the oil-for-food program if the situation continues as it is.”
Al-Shammari pointed out, “the importance of heading towards the rich capitalist countries in order to diversify the sources of the economy and trade exchange.”
almaalomah.me
