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U.S. Blocks $500 M Cash Plane to Iraq, Threatens Further Cuts

4/23/2026

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Summary

Story summary

The U.S. Treasury blocked a plane carrying nearly $500 million in U.S. banknotes bound for Iraq’s central bank.
Washington is using Iraq’s oil cash, held at the Federal Reserve Bank of New York, to push Tehran-linked groups from the new government.
President Donald Trump’s administration suspended security cooperation and warned that further dollar shipments could be cut, endangering a budget that relies on oil for 95 percent of spending.

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Story summary

The U.S. Treasury blocked a plane carrying nearly $500 million in U.S. banknotes bound for Iraq’s central bank.
Washington is using Iraq’s oil cash, held at the Federal Reserve Bank of New York, to push Tehran-linked groups from the new government.
President Donald Trump’s administration suspended security cooperation and warned that further dollar shipments could be cut, endangering a budget that relies on oil for 95 percent of spending.