Iraq is a successful outlier in our series, Sanctions 360°. It is one of few countries which sanctions’ story is a substantial removal of restrictions starting from a comprehensive UN embargo after the Gulf War and ending with very limited restrictions applicable today.
Nevertheless, the country remains on the radar of any sanctions’ practitioner due to those limitations which still remain in place, especially in the regulation of exports (reexports) to Iraq and resulting, for example, from the US Export Administration Regulations. With multinationals increasing their presence in the Iraqi economy, understanding any remaining restrictions remains important when trading with Iraq.
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