The U.S. Treasury is reinforcing its financial and security engagement with Iraq after the country’s recent leadership change. Treasury Secretary Scott Bessent tells Iraqi Prime Minister Ali Al-Zaidi that cooperation remains focused on combating illicit finance and supporting Iraq’s financial sector.
Highlights
- U.S. Treasury Secretary Bessent met Iraq's Prime Minister Al-Zaidi in Washington, reaffirming partnership to combat illicit finance and strengthen Iraq's financial sector.
- The Treasury emphasized ongoing coordination with the Trump Administration and Iraq to counter regional threats, especially those posed by Iran.
- Renewed Treasury support aligns Iraq's financial system modernization with broader U.S. security and economic policy objectives in the Middle East.
Treasury meeting sets policy focus
As reported by the U.S. Department of the Treasury, Bessent meets Al-Zaidi in Washington on Tuesday and congratulates him on his recent designation as prime minister of Iraq. The Treasury secretary reaffirms the longstanding partnership among the department, the Iraqi government and the Central Bank of Iraq to combat illicit finance and strengthen Iraq’s financial sector.Bessent also emphasizes the importance of close coordination with the Trump Administration to counter the threat posed by Iran. He says Treasury supports the Iraqi government’s efforts to deliver prosperity and freedom for the Iraqi people, while maintaining cooperation on shared U.S. and Iraqi security and economic interests.
Implications for Iraq and regional finance
The meeting signals that Treasury’s work with Iraq remains tied to both financial oversight and broader geopolitical priorities in the region. Continued coordination with Iraq’s central bank and government points to an ongoing U.S. interest in financial controls, institutional stability and cross-border enforcement against illicit money flows.For Iraq, the renewed backing from Treasury supports efforts to strengthen the domestic financial system while aligning with wider U.S. policy goals in the Middle East. The discussion also highlights how financial sector cooperation remains part of the broader bilateral relationship between Washington and Baghdad.
Geopolitical tensions around Iran were previously highlighted as a key driver of market disruption, particularly through supply-chain chokepoints such as the Strait of Hormuz. Our earlier report noted that the conflict pushed U.S. aluminum prices and transaction costs to record highs and kept North American copper prices elevated, with a potential copper concentrate deficit emerging in 2026.
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