US Halts Fifty Hundred Million Dollars' Worth of Cash Shipment to Iraq
The reported move is part of a broader shift in US policy that includes suspending certain cash transfers to Iraq and freezing aspects of security cooperation. These steps follow a series of attacks on US personnel and interests in the country that Washington attributes to groups aligned with Iran.
Iraq continues to sit in a difficult political position, balancing relations between both Washington and Tehran. However, escalating regional tensions have made that balancing act increasingly unstable.
US officials have also recently summoned Iraq’s ambassador to Washington, issuing a strong warning over continued militant activity, including an attack earlier in April targeting US diplomatic personnel in Baghdad.
According to reports citing financial officials, the blocked shipment involved roughly $500 million in US currency derived from Iraqi oil revenues. These funds are typically held in accounts linked to the Federal Reserve Bank of New York before being transferred to Iraq’s central bank under an arrangement established after 2003.
Officials in Washington have described the suspension as a temporary measure, though no clear timeline has been given for when transfers might resume.
In response, Iraqi financial authorities have emphasized that the country still has sufficient dollar liquidity and continues to meet demands from banks and exchange offices, particularly for travel and other civilian needs.
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