WASHINGTON (Pakistan Point News / Sputnik - 11th February, 2023) Iraq is keeping communication channels open with the United States as the country navigates its financial relationship with sanctioned Russian oil companies, Iraqi Foreign Minister Fuad Hussein said on Friday.
"Of course, we are following American policy, and discussing this matter with the American side, but we know it isn't easy. Our first task is to protect our banks from sanctions," said Hussein.
Hussein added that he hopes Iraq can reach an agreement with the Russians that protects the Iraqi banking system from the sanctions imposed as a result of Russia's special military operation in Ukraine.
The Foreign Minister traveled to the United States this week to discuss the regulations imposed by the New York Federal Reserve on international monetary transactions by Iraqi banks and how they've impacted the Iraqi economy.�
