Iran: Assets in Iraqi banks safe despite UN snapback move
Shafaq News – Tehran
Iran’s financial holdings in Iraqi banks remain secure despite the activation of the UN snapback mechanism, the Secretary-General of the Iran-Iraq Joint Chamber of Commerce, Jahangir Sanjabi, said on Monday.
Speaking to Iran’s Tasnim news agency, Sanjabi accused the United States and the three European powers—France, Britain, and Germany—of using the UN Security Council to “create an existential crisis within Iranian society and fuel economic fears.”
He said Iran now has “the defensive and economic capabilities to withstand such pressures,” adding that its funds in Iraqi banks are “secure,” with no indication of freezing or confiscation, “thanks to precautionary measures” taken by the Iranian government and central bank.
According to Iranian and international reports, Tehran holds roughly $10 billion in assets in Iraqi banks and another $6 billion in Qatar, all reportedly accessible to the Central Bank of Iran. Western officials, however, have long accused some Iraqi banks of serving as conduits for Iranian-linked transactions under post-2003 systems that lacked full transparency.
Earlier this year, Iraq’s central bank—under US pressure—barred five domestic banks from dollar dealings amid money-laundering and sanctions-evasion concerns, a move that could further restrict Tehran’s financial channels.
The UN snapback, part of the 2015 nuclear accord, allows any signatory to automatically reinstate sanctions if Iran is deemed to have violated its nuclear obligations.
