On Tuesday, Representative Salem Al-Anbuki emphasized the importance of increasing the size of Iraq’s financial basket of international currencies other than the dollar in order to end American hegemony.
According to Al-Anbuki, in an interview with Al- “The restrictions on the circulation of the dollar in Iraq have created recurring economic crises, especially since Washington uses it from time to time as a pressure card, not in the country but in other countries, which increases the burden on the markets and led to the emergence of the parallel market that is behind the increase in burdens.” Millions of Iraqis have been financed.
He went on to say, “Iraq has realized the importance of creating a basket of other currencies besides the dollar to get rid of its restrictions, especially since it has large trade with countries such as China and India, which gives high flexibility in providing the funds necessary for imports without going through the complexities of transferring the dollar.”
He went on to say that “many countries, some of which are oil-based, have begun to diversify the currencies in their financial reserves in order to provide greater flexibility in providing funds for import purposes away from the restrictions of the dollar.”
Because of its limits on the movement of dollars to Baghdad and the application of sanctions on select institutions, the US Treasury exacerbated internal issues.
