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US Treasury legitimate says Iraq will have to act to keep away from additional motion

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By Timour Azhari

Iraq’s central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country’s financial sector, a top U.S. Treasury official said, citing fraud, money laundering and Iran sanctions evasion.

In July, the United States barred 14 Iraqi banks from conducting dollar transactions as part of a wider crackdown on the illicit use of dollars.

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