The Finance Committee of the Iraqi parliament has issued a statement expressing deep concerns over the continuous imposition of sanctions by the US Treasury Department on Iraqi banks, citing allegations of money laundering. The committee emphasized the potential adverse consequences of these measures, characterizing them as a threat to the actions of the central bank and warning of the risk of devaluation of the Iraqi dinar.

While the committee's statement did not explicitly condemn the sanctions, it underscored their apprehensions regarding what they perceive as "unfair" decisions by the US Treasury Department. The committee called for a reevaluation of these measures and urged an end to actions they consider detrimental to Iraq's financial stability.

In response to the recent identification by the US Treasury Department of al-Huda Bank as a foreign financial institution posing a significant risk for money laundering, the Financial Crimes Enforcement Network (FinCEN) proposed a rule to sever the bank's access to the US financial system.

The Finance Committee proposed alternative strategies to mitigate the impact of these sanctions, including exploring the possibility of selling oil in currencies other than the US dollar. This move is seen as an attempt to diversify Iraq's financial transactions and reduce dependence on the US financial system.

The committee's statement highlighted the importance of finding diplomatic solutions and engaging in dialogue to address concerns related to money laundering without adversely affecting Iraq's economic stability. They called for international cooperation to ensure fair and just decisions in addressing financial irregularities.

As tensions rise between Iraqi authorities and the US Treasury Department, the situation remains fluid. Observers are closely watching for any developments in the diplomatic and economic relations between the two nations.