Iraq may show how U.S. can squeeze Iran’s trade partners
Iraq, which has more than $100 billion in reserves held in the U.S., is a rare ally of both Washington and Tehran.
Dubai – Iraq may illustrate how the United States plans to compel nations that persist in trading with Iran to withdraw from the dollar-based financial system. The U.S. has targeted several Iraqi banks for alleged dealings with Tehran, although it has refrained from actions that would cripple the economy of this vital ally to both nations.
President Donald Trump has threatened that any country aiding Iran economically would face severe repercussions, potentially targeting Iran's primary trading partners in recent years: China, the United Arab Emirates, Turkey, India, Pakistan, and Oman.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
