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13 de oct. de 2025The development comes a week after Iraq announced a ban on all cash withdrawals in the US dollar. The rule will come into effect on Jan. 1, 2025, as Iraq’s Central Bank 17 de feb. de 2025DUBAI/BAGHDAD - Iraq's central bank will ban five more local banks from engaging in U.S. dollar transactions, a move that comes after meetings with U.S. Treasury 9 de feb. de 2025Iraq has prohibited eight banks from conducting transactions in U.S. dollars, in what could be seen as a move to implement the BRICS policy. Iraq is intensifying its restrictions 8 de feb. de 2025TEHRAN (Tasnim) - In tandem with the BRICS philosophy, Iraq banned eight of its banks from initiating transactions in the US dollar, so ditching US dollar from the global

BRICS Influence? Iraq BANS US Dollar Transactions in Landmark Shift

Is Iraq aligning with the BRICS nations\' vision of a de-dollarized global economy? Recent developments suggest a significant shift in Iraqi financial policy, specifically its approach to US dollar transactions.

Recent reports indicate a growing movement away from the US dollar within Iraq\'s financial system. On January 1, 2025, a significant change is set to take effect: Iraq will implement a ban on all cash withdrawals in US dollars, according to the Central Bank.

Iraq Bans Banks from US Dollar Transactions

Beyond restrictions on cash withdrawals, Iraq is taking more decisive action. As reported on February 17, 2025, Iraq\'s central bank is banning five additional local banks from conducting transactions in U.S. dollars. This move followed meetings with the U.S. Treasury, suggesting potential external pressures or collaborations in shaping Iraq\'s financial landscape.

Prior to this, on February 9, 2025, news surfaced that Iraq had already prohibited eight banks from conducting transactions in U.S. dollars. This decision, as noted on February 8, 2025 by Tehran (Tasnim), is being viewed by some as a strategic step to implement BRICS policy, actively "ditching US dollar from the global" financial system. Iraq is reportedly intensifying its restrictions.

The BRICS Connection: A Move Toward De-dollarization?

The BRICS economic bloc has been advocating for reduced reliance on the US dollar in international trade and finance. Iraq\'s increasingly restrictive policies on US dollar transactions fuel speculation about its potential alignment with the BRICS agenda.

The impending ban on US dollar cash withdrawals (effective January 1, 2025) combined with the restrictions imposed on multiple banks since February 8, 2025 and further changes scheduled for October 13, 2025, as Iraq\'s Central Bank prepares this key change, paint a picture of a nation strategically reducing its dependence on the US currency. While the exact motivations remain complex, the implications for global finance are undeniable.

This is a developing story. Stay tuned for updates as Iraq\'s financial policies continue to evolve and its relationship with the BRICS economic alliance becomes clearer.

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