Al-Suri: Closing the US Federal Account for Iraq means the country’s total collapse

14-01-2020 12:59 AM

Baghdad / Al-Akhbariya:

Economist Majed Al-Suri confirmed on Tuesday that Iraq cannot do without dependence on the “oil revenue account” in the Federal Reserve Bank in New York, indicating that the closing of the account means the destruction of the country.

Al-Suri said in a televised statement, followed by “Al-Akhbaria”, that “Iraq has no choice but to rely on the” oil revenue account “at the Federal Reserve Bank in New York, which was approved by a decision of the UN Security Council.

He pointed out that freezing or tampering with this account means destruction to the country and not only to the economy, noting that selling Iraqi oil in the end means transferring funds to this account, and if Iraq wants to stop this matter, it will return to what is known as “Chapter Seven”, which will mean that it will take place Country management by the United Nations.

Al-Suri ruled out that the Trump administration would resort to such an option regarding Iraq, but would be used as a pressure card in order to reach settlements between Washington and Baghdad.

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