Tag Archives | sanctions

Sri Lanka to Buy Iraqi Oil after US Sanctions on Iran

By John Lee. Sri Lanka is to purchase oil from Iraq after the US imposed new sanctions on Iran. According to a report from AFP, the US Senate unanimously approved new economic sanctions on Friday aimed at further crippling Iran's energy, shipping and port sectors, a year after Congress passed tough restrictions against Tehran. Sri […]

Sanctions and Collateral Damage

By Bob Nottelmann. Although in the very heart of the Fertile Crescent, defined by its abundant natural resources, Iraq is hardly a breadbasket for western Asia, let alone its own population. Nearly 80% of the country’s food is imported from neighboring countries Turkey, Syria and Iran. Nowhere is it more apparent that an effective and […]

TBI Denies Payments from Syria for Fuel

By John Lee. The Trade Bank of Iraq (TBI) has denied a report it had received cash or letters of credit from Syria for fuel supplies from Iraq, according to a report from Bloomberg. Chairwoman of the bank, Hamdiyah Al-Jaff, said in an emailed statement: "The Trade Bank of Iraq has not conducted such transaction(s)." […]