The US Treasury imposes sanctions on the International Development Bank
The US Treasury imposes sanctions on the International Development Bank
10-16-2026
The US Treasury Department announced on Thursday (October 15, 2026) that it had imposed economic sanctions on the Iraqi International Development Bank, stating that the bank “facilitated access to US dollars for Iran in violation of the economic sanctions imposed on it.”
The official report issued via the Treasury website confirmed that the bank registered in Iraq “contributed to delivering dollars to Iran and misused the dissolved currency auction to finance the Iranian government and its affiliated armed factions in Iraq.”
He added, “The bank was established by Iranian companies with the aim of delivering dollars to Tehran,” stressing that “the bank received the financial assets of Bank Melli, which is located next to it, after it was closed as a result of the US sanctions that were previously imposed on it.”
The report explained, “The financial assets that the Development Bank obtained from the Iranian Bank Melli were used as capital to finance investment projects inside Iraq, and their profits were transferred from dollars to Iran on a monthly basis.”
The Treasury report indicated that the bank’s current management received its ownership from an individual holding both Iranian and Iraqi nationalities and linked to the Iranian Quds Force, stressing that “the financier continues to use his family influence to affect the behavior of the sanctioned bank.”
It is noted that the US Treasury announced this evening the launch of a new package of sanctions targeting sixteen individuals and ten economic institutions on charges of violating sanctions and financing terrorism.
burathanews.com
