US Bans 14 Iraqi Banks in Crackdown on Iran Dollar Trade

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    The Spin

    Pro-establishment narrative

    Recent US sanctions on Iraq are necessary, as the Iraqi government and its banks have both publicly and privately made deals with Iran. Hopefully, after enduring a blow to its electricity sector and announcing a deal with French energy company TotalEnergies, Baghdad will end its dangerous relationship with Tehran and pursue economic deals with non-sanctioned countries.

    Establishment-critical narrative

    While Iraq could eventually become a world-leading oil exporter and oblige the US' calls to become energy independent, Washington has been pushing Baghdad too hard too fast. This has led to gas shortages and a subsequent electricity crisis fueling protests in the streets. For now, Iraq still needs to import oil from Iran, or else its economic woes will continue.


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