US Sanctions on 14 Iraqi Banks Imposed Due to Dollar Deals with Iran
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The US Treasury has sanctioned 14 Iraqi banks over Iranian transactions in dollars, and the Wall Street Journal reported that some transactions may involve sanctioned individuals.
The newspaper quoted U.S. officials as saying “the move was taken following the disclosure of information suggesting the targeted banks were involved in money laundering and fraudulent activities.”
The newspaper added that “some of these operations may be linked to individuals under sanctions, raising concerns that Iran is benefiting from them.”
A senior US official told the newspaper, “We have strong suspicions that some of these money laundering operations may benefit either individuals subject to US sanctions or individuals who may be sanctioned.”
“The main danger of sanctions in Iraq, of course, is related to Iran,” he added.
The sanctions affected the following 14 banks:
Islamic Investment and Finance Advisor, Al-Qurtas Islamic Investment and Finance, Al-Taif Al-Islami, Elaf Bank, Erbil Bank for Investment and Finance, International Islamic Bank, Trans-Iraq Bank, Mosul Bank for Development and Investment, Al-Rajih Bank, Sumer Commercial Bank, International Islamic Trust Bank, Ur Islamic Bank, Islamic World Investment and Finance Bank, Zain Iraq Islamic Investment and Finance Bank.
Source: Wall Street Journal
