Economic expert: The presence of Iraqi funds in the Federal Reserve restricts sovereign decisions.
Economic expert: The presence of Iraqi funds in the Federal Reserve restricts sovereign decisions.
1-25-2026
Information/Special…
Economic expert Basim Anton confirmed on Sunday that achieving financial independence for Iraq is contingent solely on depositing oil revenues in the US Federal Reserve. He added that it also requires a comprehensive package of political and economic reforms, foremost among them political unity and the building of a strong domestic economy.
Anton told the Information Agency that “Iraq’s complete control over its sovereign revenues is a strategic gain for any country. However, reaching this stage requires sound financial management and directing revenues towards development and infrastructure building, instead of wasting or depleting them through corruption.”
He added that “the presence of Iraqi funds in the Federal Reserve imposes restrictions on sovereign decisions, particularly those related to economic or military deals with countries like China and Russia.”
He pointed out that “achieving financial independence requires unifying the political will, combating corruption, ending opportunistic practices, and building foreign relations based on equality and mutual interests.” He noted that any future government is required to move from rhetoric to action on this sensitive issue.
Anton concluded by saying, “When Iraq possesses a cohesive economy and a unified national decision-making process, no entity will be able to control its finances or infringe upon its economic sovereignty.”
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