Article Quote: “Mohammed Shia Al-Sudani…All oil-exporting countries have accounts with the US Federal Reserve, and Iraq does too. We control our accounts there and no one has any control over them. We used to take about $14 billion from the US because our transactions were in cash. After we switched to banking transactions, the number dropped to less than $10 billion. Traders have become accustomed to the new system, unlike before, when their transactions were through exchange offices and customs brokers without having to check taxes or customs.”
Clare
