Iraq: US Did Not Impose Conditions over Dollar Crisis

Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
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Iraq: US Did Not Impose Conditions over Dollar Crisis

Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)

Iraq denied claims that the US had imposed conditions on its delegation, which recently visited Washington, regarding the dollar exchange issue.

An Iraqi delegation, headed by Foreign Minister Fuad Hussein, had visited Washington and met with Secretary of the State Antony Blinken earlier this month.

During a press conference in Baghdad on Monday, Hussein denied that conditions were imposed on the delegation, noting that the electronic platform launched by the Central Bank of Iraq (CBI) would determine benefit from the dollars and help end smuggling.

He explained that the delegation included officials from various sectors, including senior officials from the financial and banking industries. He added that the visit addressed political issues, but mainly focused on the economy, fighting corruption, and combating ISIS terrorism.

He assured the Iraqi people "the financial and oil cover proves that the Iraqi currency is strong," adding that the dollar crisis occurred because of the electronic financing system.

Moreover, he revealed that the SWIFT platform had uncovered many manipulations and counterfeit bills. It will help stop and prevent dollar smuggling and determine the number of dollar bills in the market.

Hussein indicated that Iraq is a "consumer society" and imports many of its needs, which requires the availability of dollars, noting that Iraqi reserves exceeded $100 billion.

He added that it is only a matter of time before the exchange rate stabilizes.

The minister also denied reports that Iraq was seeking to normalize relations with Israel, asserting that it was not discussed with the US officials or any political blocs.

Meanwhile, the US Treasury announced that Iraq's possession of US bonds rose to more than $40 billion.

The Treasury said Iraq's possession of US Treasury bonds surpassed $40 billion, rising from $39.717 billion in October 2022. This marked an increase of 81.4 percent compared to the same month in 2021.

Iraqi bonds, including long-term guarantees, amounted to $28.239 billion, and short-term guarantees amounted to $12.575 billion, representing 0.55 percent of the world's bonds.



Suspected US Airstrikes in Yemen Kill at Least 4 People Near Hodeidah

A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah
A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah
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Suspected US Airstrikes in Yemen Kill at Least 4 People Near Hodeidah

A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah
A man holds a rifle as protesters, mainly Houthi supporters, rally to mark the annual al-Quds Day (Jerusalem Day) on the last Friday of the Muslim holy month of Ramadan, in Sanaa, Yemen March 28, 2025. REUTERS/Khaled Abdullah

Suspected US airstrikes battered Houthi-controlled areas of Yemen into Wednesday, with the militias saying that one strike killed at least four people near the Red Sea port city of Hodeidah.

The intense campaign of airstrikes in Yemen under US President Donald Trump, targeting the militias over their attacks on shipping in Mideast waters stemming from the Israel-Hamas war, has killed at least 65 people, according to casualty figures released by the Houthis.

The campaign appears to show no signs of stopping as the Trump administration again linked their airstrikes on the Iranian-backed Houthis to an effort to pressure Iran over its rapidly advancing nuclear program. While so far giving no specifics about the campaign and its targets, White House press secretary Karoline Leavitt put the overall number of strikes on Tuesday at more than 200.

“Iran is incredibly weakened as a result of these attacks, and we have seen they have taken out Houthi leaders,” Leavitt said. “They’ve taken out critical members who were launching strikes on naval ships and on commercial vessels and this operation will not stop until the freedom of navigation in this region is restored.”

Overnight, a likely US airstrike targeted what the Houthis described as a “water project” in Hodeidah governorate's Mansuriyah District, killing four people and wounding others. Other strikes into Wednesday targeted Hajjah, Saada and Sanaa governorates, the militias said.