A member of parliament calls for an end to the US Federal Reserve’s control over Iraqi funds.
A member of parliament calls for an end to the US Federal Reserve’s control over Iraqi funds.
8-16-2026
The former MP, Fawzi Akram Tarzi, called on Sunday for an end to the US Federal Reserve’s control over Iraqi funds, noting that this control has been exploited in recent years as a tool of pressure to achieve clear interests. Tarzi
explained to Al-Maalomah that “the revenues from Iraqi oil sales belong to the people and represent a significant portion of the country’s resources. Therefore, the US Federal Reserve’s control over these funds and its regulation of their flow to Baghdad infringes upon national sovereignty and reflects Washington’s dominance in shaping Iraq’s economic interests and financial policies, particularly regarding the control of hard currency flows.”
He stressed “the necessity for the central government to take action to end the US Federal Reserve’s control over the flow of hard currency to Baghdad and for oil revenues to be returned entirely to Iraqi management without any US interference determining their flow.” He emphasized that “this control has been exploited as a pressure tactic by Washington in Iraq to achieve various objectives and approaches in recent years.”
He explained that “controlling the hard currency generated from the sale of crude oil in global markets is a matter of national sovereignty, just as is the American military presence, which we call for ending completely by September 30th.”
almaalomah.me
