Article “Diplomatic official: Two phases of US sanctions begin with halting dollar transactions and could extend to freezing Iraqi funds”
Quote: “Iraqi oil revenues have been deposited into an account at the Federal Reserve Bank of New York since 2003. He indicated that these funds had not been sent to Iraq for approximately four months…before the White House officially suspended their transfer three weeks ago…The second phase involves freezing all Iraqi funds… Iraq has two accounts… one at the Federal Reserve Bank and the other at JPMorgan Chase, with warnings that Washington may freeze these assets in both banks.” : Clare
