The Central Bank of Iraq proposed, on Wednesday, to the Iraqi government to wait in concluding any contracts with Russia as a result of the economic sanctions imposed by Washington on Moscow.
This came in an official letter addressed by the bank to the Secretary-General of the Iraqi Council of Ministers, which was obtained by Shafak News Agency.
Central Bank Governor Mustafa Ghaleb Mokhif said, “We would like to inform you that as a result of the current war between Russia and Ukraine, the US Treasury has imposed sanctions on Russian financial and economic institutions for the purpose of limiting Russia’s capabilities in the war, and for the purpose of protecting the Iraqi financial system, we suggest waiting for the time being. About concluding any government contracts with the Russian side and the need to wait in transferring any financial payments that pass through the financial system in Russia.
The Governor of the Central Bank called on the Secretary-General of the Council of Ministers to “circulate this to the various ministries and agencies, with the need to provide us with the aspects that each ministry deals with the Russian side for the purpose of finding the appropriate mechanism in this area in a way that ensures the integrity of the financial system in Iraq.”