Why don’t you punish UAE banks as well? An Iraqi expert opens fire on Washington
Why don’t you punish UAE banks as well? An Iraqi expert opens fire on Washington
2-11-2024
Baghdad – 964
The Iraqi economic expert, Manar Al-Obaidi, asked a group of questions about the file of American sanctions imposed on a large number of Iraqi banks, indicating that Baghdad is not the only one that deals with Iranian trade, but rather the UAE and Malaysia do so, as do some British banks and other economic bodies, and he suggested that Iraq attract Foreign advisors to participate in negotiations with Washington on a matter whose consequences appear to be significant.
America’s sanctions on Iraqi banks are based on “suspicion” and we need the Ministry of Foreign Affairs…a banking expert
Manar Al-Obaidi, in an interview with journalist Ahmed Al-Tayeb, followed by Network 964 :
There is always a question to be asked, why does the United States place sanctions on Iraqi banks? In fact, if we look at the surroundings of Iraq and neighboring countries, we find that many of them do not adhere to the sanctions.
The best evidence of this is the volume of trade exchange between Iran and the UAE, which amounts to $17 billion. Iranian oil is also sold to Malaysia and then transported to China, amounting to $29 billion.
Two days ago, a report was issued by the famous Financial Times newspaper, talking about two British banks facilitating money transfers to Iran, so the world is not completely controlled, and Iraq is not the only one not in compliance.
There is a gap in the political dealings with the American side. The Americans do not know the nature of the relationship with Iraq. Sometimes they say that they are with us, and at other times they are against us.
Today, any country in the world has economic relations with Iran, but why does the American side not impose sanctions on these countries, simply because these countries have lobbies led by businessmen under the principle of common interests, so I think that the problem with Iraq is the lack of a body that conveys the Iraqi point of view away from… The government side. If we look at the channels of communication between the Iraqi and American sides, the only channel is the official bodies.
I am not with the idea that there are no sound Iraqi banks. Certainly there are sound banks, just as there are banks that do not deserve to be called banks. But the problem with the banks in general is that they did not bring in foreign advisors capable of sitting with the US Federal Reserve and the US Treasury to understand the quality of the sanctions. imposed, and in fact there are banks that do not yet know why they were punished.
The impact of the sanctions did not stop on the sanctioned banks themselves. Rather, even the non-sanctioned banks no longer know what measures they are supposed to take to protect themselves from the sanctions. Here we must not just throw the ball in the government’s court, but rather the banking sector must create a team of foreign advisors that It has relationships with the Treasury and the Fed, going beyond the idea of government communication.
964media.com
