By John Lee. The United Nations Security Council has removed Iraq's state-owned Al-Rasheed Bank [Al-Rashid Bank] from its Sanctions List. The updated version of the Committee's Sanctions List, available in HTML, PDF and XML format, may be found here. Authorities in the United Kingdom have also confirmed that the bank has been removed from the […]
By Layal Shakir, for Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi central bank suggests halting business, financial dealings with Russia The Central Bank of Iraq (CBI) on Wednesday suggested halting business operations and financial dealings with Russia following America's far-reaching sanctions […]
By John Lee. The US State Department has reportedly granted a new sanctions waiver allowing Iraq to continue importing electricity from Iran for another 120 days. More here. (Source: S&P Global)
By John Lee. The United Kingdom has issued sanctions against a number of individuals, including a former Governor of Nineveh province in Iraq. Nawfal Hammadi Al-Sultan is alleged to have misappropriated public funds intended for reconstruction efforts, and to have improperly awarded contracts and other state property. He is currently serving a five-year prison sentence […]
By John Lee. Iran has reportedly suspended the supply of gas and electricity to Iraq, at a time when the country is struggling to cope with with soaring temperatures. According to AP, Iraq already owes Iran $4 billion for energy imports, and Iran is pushing to have the debt paid. More here. (Source: AP)
By John Lee. At least 24 Iranian traders have set up shop in Dohuk this week alone, according to a report from AP. Pressure as a result of sanctions on Iran are causing Iranian businesses to look more to Iraq for customers. Click here to read the full report from AP. (Source: AP)
By Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The U.S. Designation of Kataib Hezbollah's Abu Fadak The latest sanctions against a senior leader in the Iranian-backed terrorist militia are a reminder that such […]
By John Lee. Iran's Minister of Energy has said that a euro account is to be opened in Baghdad so that Iraq can pay its debts to Iran for electricity and natural gas purchases. IRNA reports that Reza Ardakanian added that the same account can be used for Iraq's debts to Iranian private sector companies. […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Significant challenges face Kadhimi's economic reform project Iran's central bank governor, Abdolnaser Hemmati (pictured), recently paid a surprise visit to Baghdad, three days after the United States slapped sanctions […]
From US Dept of the Treasury: The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is designating Iraj Masjedi (pictured), a general in Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and Iran's Ambassador to Iraq, for acting for or on behalf of the IRGC-QF. A close adviser to former IRGC-QF Commander Qassem […]
By John Lee. The United States has reportedly granted Iraq a 60-day extension to a sanctions waiver allowing it to import Iranian gas. According to the report from AFP, Iraq relies on gas and electricity imports Iran to supply about a third of its electricity sector. More here. (Source: AFP)
By Elizabeth Hagedorn for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US squeezes Islamic State's cash flow with new sanctions The United States and six other countries imposed fresh sanctions today on half a dozen targets accused of helping fund […]
