Iraq may show how U.S. can squeeze Iran’s trade partners

Iraq, which has more than $100 billion in reserves held in the U.S., is a rare ally of both Washington and Tehran.

Iraq may show how US can squeeze Iran's trade partners

Iraq could serve as an example of how the United States could carry out its threat to force countries that continue trading with Iran out of the dollar-based financial system. Washington has already sanctioned a host of Iraqi banks accused of doing business with Tehran, though it has avoided measures that would devastate the economy of the strategic ally of both countries. US President Donald Trump has warned that any country that provides Iran with an economic lifeline would face severe cons...

By [email protected] (Reuters)