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Is Iraq able to join the BRICS group?.. A serious warning about Washington’s reaction

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Is Iraq able to join the BRICS group?.. A serious warning about Washington’s reaction

Economy |Today, 21:38 |
Baghdad Today - Baghdad

The Iraqi economic expert, Omar Al-Halbousi, confirmed today, Monday (October 16, 2023), that

Iraq’s accession to the BRICS group may face many obstacles as a result of the economic and monetary crises that the country is experiencing.

BRICS includes Brazil, Russia, India, China and South Africa, and at a summit in Johannesburg last August, a decision was announced to invite Argentina, Egypt, Iran, Ethiopia, the Emirates and Saudi Arabia to become full members of the organization, starting on January 1, 2024.

Al-Halbousi added, in a press statement followed by “Baghdad Today, ”that there are

many obstacles standing in the country’s way to join the BRICS, which is Iraq’s

lack of an industrial base and the
lack of agriculture,

which made the economy collapse significantly, amid the confusion of government measures that caused the economic and monetary crises to worsen in the country. Iraq.  He continued:

"Iraq cannot join the BRICS group because of Washington's control over it, especially since Iraqi oil imports are placed in Iraq's account in Washington, which makes Iraq exposed to a financial setback if Washington lifts protection over Iraqi funds."  The economic expert pointed out that the

United States of America has a lot of evidence of the Iraqi government’s negligence in the continuation of

money laundering,
terrorist financing, and
dollar smuggling operations for the benefit of countries and armed groups punished by the American Treasury.

In the event that Iraq joins BRICS, Washington will take a significant package of sanctions, and I do not rule it out.

Approval of a law that reduces or restricts the income of the dollar to Iraq, causing a major financial collapse, especially since Iraq has a rentier economy that depends on oil and that oil imports are in America.

Al-Halbousi explained that the United States will not allow Iraq to leave its circle of control and go towards its competing party, and

Washington has great pressure cards on Iraq militarily, politically and economically, which makes the statements of Iraqi officials about joining the BRICS group suicidal at all levels for Iraq, and at the same time it cannot Its implementation is due to American obstacles.

In a previous statement, the Iraqi economic expert, Safwan Qusay, spoke, saying:

Iraq is trying to be in the region of economic balance by attracting investments from countries of the East or West, and

Russia is a giant industrial country, and

Iraq’s openness to the Russian system can be exploited by attracting investments in the

agricultural sector,
livestock and the
agricultural sector.”
Transportation, especially if we manage the investment file in the
iron and steel sector to create
complementary industries at the level of
trains and
ships.”  He added:

"Iraq is looking forward to exploiting its geographical location and

it needs to establish an industrial zone for strategic industries that complement the path of development and the presence of economic powers such as Russia that can contribute to these sectors.  I believe that

establishing a nuclear reactor to generate electrical energy will support the process of establishing this industrial city and that we will have diversity in Investment sources.  He pointed out that

Iraq is looking forward to increasing the capacity of financial transactions with the Russian side outside the “SWIFT” system,

so that it has trade with the East through this system, and this

reduces the pressure on financial bottlenecks in some cases.

Regarding the possibility of Iraq joining BRICS in the future and its impact on the region, Qusay said: “The

BRICS project is promising, and the organization has a set of conditions for it to join, and I believe that

Iraq needs to rehabilitate the economic goals and financial tools in order to be allowed to join the group,” explaining that

Iraq is not with An area of attraction alone, but he must build a sectoral investment map so that there is competition in every sector.

I believe that the advantage of the corresponding economy is what will determine preference. For example,

integration with the Russian economy at the level of

iron and steel industries, and
nuclear energy could be This is the path."

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