The American Wall Street Journal reported on Wednesday, citing US officials, that Washington has sanctioned 14 Iraqi banks for allegedly conducting dollar transactions with Iran.

Iran PressAmerica: The United States has imposed sanctions on 14 Iraqi banks as part of a broader crackdown on the flow of US currency to Iran.

The recent US measures have resulted in price increases for some imported commodities within Iraq, while real estate sales in upscale areas of Baghdad have notably slowed down. Moreover, Iraqi power stations heavily rely on Iranian gas, but due to US sanctions, Baghdad faces challenges in making direct payments for its gas imports from Tehran.

According to officials cited by the Wall Street Journal on Wednesday, the ban, enforced by the Treasury Department and the Federal Reserve Bank of New York, aims to prevent these Iraqi banks from engaging in dollar transactions, highlighting the US government's efforts to curb Iran's access to international funds.

In this regard, an American official announced yesterday that the Secretary of State of the Biden administration, Anthony Blinken, has signed a new sanctions exemption for the payment of imported gas from Iran, based on this 120-day permit, for the first time the Baghdad government can deposit these funds to non-Iraqi bank accounts. 219