Iraqi Finance Ministry: Iranian Banks in Iraq Exempt from UN Sanctions

A leading official in the Iraqi Ministry of Finance said on Monday that the Iranian banks currently operating in Iraq, and those planning to open branches in the country, are not covered by UN sanctions as they are not state-owned.

The Finance Ministry’s undersecretary, Fadel Nabi, told AKnews that the Iranian banks present in Iraq are private ventures that have licenses to operate in Iraq.

Mr. Nabi explained that the Ministry has a list of the banks that are included within the economic sanctions imposed by the UN on Iran and those banks would not be permitted to open branches in Iraq.

For several years Iran and Iraq have enjoyed healthy bilateral trade and investment relations.

The head of the Chamber of Commerce and Industry in Tehran, Yahya Isaac, announced that the Bank of Iraq would be opening a branch in Iran in the near future.

(Source: AKnews)

Tags: ,

2 Responses to Iraqi Finance Ministry: Iranian Banks in Iraq Exempt from UN Sanctions

  1. Brad 24th November 2010 at 10:31 #

    So? After all the world has done for IRAQ......knowing that IRAN poses a clear and present danger to it's neighboring countries, IRAQ now becomes the funnel for money to IRAN???? Ummm, maybe it is me but WHAT THE HELL ARE THEY DOING?

  2. Peter 24th November 2010 at 23:54 #

    After all the world has done for Iraq? Do you mean by uprooting a democratically elected leader to install the puppet regime of Saddam Hussein? Then, encourage him to attack neighboring Iran and sell all kinds of weapons to the Saddam regime, to include biological and chemical weapons? Then slap sanctions on the country to include sanctions even on things like medicine and basic machines for agriculture, effectively starving the country to death for 30 years? Then blowing the country to pieces under the guise of WMD which none were found and occupying the country now for over 8 years resulting in the death of thousands of civilians, and damage to infrastructure? Is that what you are talking about? How would you like to see Iraqi soldiers running around your neighborhood and kicking your door down? Go grab yourself a coffee and take a walk down to the library and do some reading my friend. Do a little research before you open your mouth and say something.