A former central bank official said on Sunday that Iraqi banks no longer deal with banned entities, whether countries or companies, and stopped their transfers in dollars, but rather they are keen to inform the US Treasury even when they deal with those entities in Chinese yuan.
We know that a good part of the dollar in the market goes to Iran, and even the US clearly doesn’t say that.
Iraq imports 10 billion goods from it, but it has no banking relationship with Iran and it is not possible to make transfers with Iran, so how do these funds reach? Does Iran accept the Iraqi dinars? And even if it accepts the Iraqi dinar, it will come back and buy the dollar from the market.
The recent variables are the conversion method, it is known that the method of transferring through the platform never allows dealing with the penal entities and the matter includes not only Iran, but also Syria, and a number of Turkish companies from which we cannot import.
Therefore, the cash dollar directed to travelers has become the port of leaking the dollar to pay off imports from the penalized entities, the platform only deals with the dollar, and has opened the dealing in yuan sent to China.
After 14 banks from U.S. sanctions, a bank can no longer risk doing business with banned entities.
Transactions that occur in the Chinese yuan, under the knowledge of the US Treasury, and the banks that deal with it, report their transfers in this regard.
