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America Still Controls Iraq's Oil Money

Twenty-plus years after the invasion, Washington still has its hand on the spigot. Iraq's oil revenues flow through a Federal Reserve account in New York. Set up under US occupation in 2003, the system means Baghdad never fully controls its own money. Washington can freeze it. Sanction it. Leverage it. This is what "sovereignty" looks like when the US is done with a country.
x.com Economy Middle East

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