Baghdad Reaffirms Commitment to Combating Currency Smuggling
Iraqi Prime Minister Mohammed Shia' al-Sudani in a meeting with government officials on Thursday reiterated his cabinet's commitment to eliminating the smuggling of US currency as the country continues to experience a currency slide and nationwide inflation.
"During the meeting, they reviewed ongoing efforts to combat currency smugglers, criminal networks, and those sabotaging the domestic economy, and violating laws and people's rights," read a statement released by Sudani's media office today.
The Prime Minister has initiated a review to implement precautionary executive measures, focusing on deploying mobile or fixed checkpoints along key roads connecting border crossings. This measure aims to curb the illegal transfer and smuggling of goods, which have a detrimental impact on Iraq's economy upon entering the country."
The Iraqi leader urged all relevant government departments to continue "pursuing currency smugglers, and apprehending tax evaders."
The US Department of Treasury last week banned 14 Iraqi banks from conducting dollar transactions over their alleged involvement in the smuggling of US currency out of Iraq as well as money laundering.
Iraq continues to experience a nationwide inflation and a currency crisis, with the value of its dinar continuing to plummet against the value of US dollar. The currency crisis began in November of last year when Washington imposed stricter restrictions on Iraq's dollar transactions because of alleged widespread smuggling of US currency from Iraq to countries sanctioned by the US.
