Iraq seems to go through a period of rapid socio-economic changes under its current PM, Ali Falih al-Zaidi - https://www.iraqinews.com/iraq/iraq-pm-zaidi-provincial-coordination-housing-decrees-2026/ meanwhile it is not clear if the flow of Iraqi oil revenues seems to be 'guarded' and 'protected' by the US' Federal Reserve, rather than 'controlled' or 'appropriated': "...Trump's renewal in May 2026 of the national emergency on Iraq [...] reopened a recurring dispute: whether the United States holds Iraqi oil money, or merely guards it. A fresh parliamentary inquiry into the oil ministry, demanding answers on a reported export deal with Washington, has pushed that dispute back into public view..." - https://www.shafaq.com/en/Report/Iraq-s-oil-revenues-under-US-financial-guard-23-years-after-invasion
American influence over Iraq’s oil trade rests on financial leverage, not direct ownership. Since 2003, Iraq’s oil revenues have flowed through an account at the New York Federal Reserve, giving Washington the ability to pressure Baghdad by slowing or restricting access to dollars. Because oil funds make up about 90% of Iraq’s budget, this mechanism shapes Iraqi policy. U.S. companies also gained post‑invasion access to Iraqi fields, reinforcing long‑term economic influence.
wonderful analysis..
All relationships in the mideast, not to forget europe, are being recalibrated living the US in limbo....
Thank u. Hope to see you tommorow in class
Iraq seems to go through a period of rapid socio-economic changes under its current PM, Ali Falih al-Zaidi - https://www.iraqinews.com/iraq/iraq-pm-zaidi-provincial-coordination-housing-decrees-2026/ meanwhile it is not clear if the flow of Iraqi oil revenues seems to be 'guarded' and 'protected' by the US' Federal Reserve, rather than 'controlled' or 'appropriated': "...Trump's renewal in May 2026 of the national emergency on Iraq [...] reopened a recurring dispute: whether the United States holds Iraqi oil money, or merely guards it. A fresh parliamentary inquiry into the oil ministry, demanding answers on a reported export deal with Washington, has pushed that dispute back into public view..." - https://www.shafaq.com/en/Report/Iraq-s-oil-revenues-under-US-financial-guard-23-years-after-invasion
American influence over Iraq’s oil trade rests on financial leverage, not direct ownership. Since 2003, Iraq’s oil revenues have flowed through an account at the New York Federal Reserve, giving Washington the ability to pressure Baghdad by slowing or restricting access to dollars. Because oil funds make up about 90% of Iraq’s budget, this mechanism shapes Iraqi policy. U.S. companies also gained post‑invasion access to Iraqi fields, reinforcing long‑term economic influence.
Thank you for reminding us, but the author pointed to changes.
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