U.S. sanctions 14 Iraqi banks in crackdown on Iran dollar trade- WSJ

The U.S. has barred 14 Iraqi banks from conducting dollar transactions, the Wall Street Journal reported on Wednesday citing U.S. officials.

The ban which was imposed by the Treasury Department and the Federal Reserve Bank of New York is part of a sweeping crackdown on the siphoning of U.S. currency to Iran, the report added.

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