The Iraqi economy faces a new sovereign test in how to protect its assets and oil revenues in the US Federal Reserve from the effects of escalating sanctions against Iran. Baghdad is working with extreme caution to build gradual financial
independence that protects the stability of the Iraqi dinar, while adhering to international banking standards to avoid clashes with the US Treasury. Simultaneously, the government seeks sovereign alternatives for energy imports from neighboring Iran by activating Gulf electrical grid projects
and investing in associated gas, freeing the national will from external economic pressures.
