Explainer-How the US controls Iraq's oil revenues

🌐 Al-Monitor Middle East (IQ) —
Explainer-How the US controls Iraq's oil revenues

AI Summary

The United States is preparing to withdraw its forces from its last bases in Iraq, while retaining significant leverage through its control of Iraqi oil-revenue dollars. That financial influence, dating back to the 2003 invasion, affects Baghdad's affairs and regional dynamics involving Iran.

By Ahmed Rasheed DUBAI, Sept 30 (Reuters) - US forces are set to withdraw on Wednesday from their last bases in Iraq, a departure celebrated as a victory by Iran and its allies, which ​have deep influence in the country where 4,500 Americans died during more than two decades of war. Still, since its 2003 invasion of Iraq, the US has held effective control of the country's oil revenue dollars, giving Washington extraordinary leverage over Baghdad's affairs, with implications for regional dynamics involving Iran. HOW DOES THE US CONTROL IRAQ'S OIL REVENUES?

World Security Politics Commodities Energy Iraq United States oil revenues military withdrawal Iran geopolitics

Read original source →