Trump Transferred Half a Billion Dollars in Cash to Iraq
The official Iraqi news agency reported on Thursday that $500 million in cash arrived in Iraq in a shipment from the US Federal Reserve Bank. The agency stated that the funds are intended for transactions related to travelers and foreign money transfers, subject to the approval of the Central Bank of Iraq.
The official Iraqi news agency reported on Thursday that $500 million in cash arrived in Iraq in a shipment from the US Federal Reserve Bank. The agency added that "the funds will be used for transactions related to travelers and money transfers abroad, subject to the approval of the Central Bank of Iraq."
An Iraqi government official explained to Reuters that "the dollar payments are expected to arrive on a monthly basis, bringing the total annual transfer amount between the countries to between eight and ten billion dollars." This development comes just days after the US, in coordination with Saudi Arabia, conducted strikes within the country.
This transfer follows an announcement last month by the spokesperson for the new Iraqi Prime Minister, Ali al-Zaidi, that the United States had resumed dollar shipments after a months-long suspension. These shipments are drawn from reserves held by Iraq in a New York bank, a mechanism intended to allow the US to monitor Iraq's financial transfers and prevent them from reaching terrorist elements.
Despite these measures, the US lacks a definitive way to track the final destination of the transferred funds. The Central Bank of Iraq maintains that the dollars are strictly for travelers, pilgrims, and authorized foreign transfers, emphasizing that all transactions are conducted through vetted companies in compliance with established regulations.
According to other Iraqi officials speaking to Saudi media, the previous American delay was intended to pressure the new Iraqi government to distance itself from Iran and its proxies. The suspension was lifted even though al-Zaidi did not meet the demand of Donald Trump to form a government free of pro-Iranian elements.
Furthermore, Iraq is currently on the verge of a conflict between state military forces and Iranian-backed militias. Iraqi security forces have raised the alert level at all military camps and bases, while simultaneously deploying counter-terrorism reinforcements toward Baghdad.
Iraqi security sources reported that this move is a response to pro-Iranian terrorist organizations that have redeployed within the country and are expected to continue targeting local sites at the behest of Iran, as seen recently in Saudi Arabia.
