How Iraq became the ultimate test case for America's dollar power
Edited By WION Video Desk
Published: Aug 26, 2026, 19:05 IST | Updated: Aug 26, 2026, 19:05 IST
Iraq has emerged as a crucial battleground in the broader U.S.-Iran economic confrontation. Despite its close ties with both Washington and Tehran, Baghdad remains heavily dependent on access to the U.S. dollar-based financial system. The United States has repeatedly used control over dollar flows, banking access and sanctions waivers as leverage to influence Iraqi policy, particularly regarding trade with Iran. As Washington expands pressure on Tehran, Iraq offers a glimpse into how America's dominance of the global financial system can shape the behavior of entire economies.
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