How can Iraq liberate itself from the “authority” of the US Federal Government? A legal expert outlines a roadmap.
How can Iraq liberate itself from the “authority” of the US Federal Government? A legal expert outlines a roadmap.
2-10-2026
Information/Baghdad…
Legal expert Ali al-Tamimi detailed today the legal complexities and international resolutions governing the US Federal Reserve’s control over Iraqi oil revenues, while also outlining the available legal avenues for restoring full financial sovereignty.
In a statement to Al-Maalouma, al-Tamimi said, “UN Security Council Resolution 1483, issued in 2003, obligated Iraq to transfer its oil and gas revenues to a special account at the Federal Reserve under international supervision.” He pointed out that “Executive Order 13303, issued by former US President George W. Bush, granted these funds immunity from seizure, and this remains in effect under the pretext of protecting the Iraqi economy.”
He added that “complete liberation from these restrictions requires international action to repeal or amend Resolution 1483 in the Security Council, a matter that necessitates the consensus of the five permanent members.” He noted that “Security Council Resolution 2231, issued in 2015, ended many of the restrictions, but left some related issues unresolved.”
Al-Tamimi explained that “Iraq has an opportunity to increase its control over its resources by reducing its dependence on the dollar and diversifying its fiscal policy,” calling on the government to “utilize bilateral agreements with Washington to secure better financial management, while balancing international obligations to ensure the economy is not exposed to sudden shocks.”
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