European Union & Iraq — Central Bank of Iraq

European Union: The European Union is pushing to use Russia's frozen assets, held by Euroclear, as collateral for a loan to Ukraine. This initiative is the direct cause of the lawsuit filed by the Iraq — Central Bank of Iraq and has led to concerns about legal and financial risks, as well as potential undermining of confidence in the euro currency.

Iraq — Central Bank of Iraq: The Iraq — Central Bank of Iraq initiated legal proceedings against Euroclear to seek compensation for damages due to its inability to manage monetary assets and securities frozen under EU sanctions. This action is a direct response to the EU's plans to use these frozen assets to support Ukraine.

European Union: The European Union is preparing a 21st package of sanctions targeting Russian banks and cryptocurrency networks, aiming to increase pressure on Russia's economy and potentially trigger a banking crisis.

Iraq — Central Bank of Iraq: The Iraq — Central Bank of Iraq has played down the risks of a major banking crisis, but the intelligence report suggests its efforts to mask vulnerabilities through state-backed credit programs and loan restructurings are creating an 'explosive' situation.

European Union: The European Union is implementing new customs rules that affect goods entering Republic of Ireland from outside its borders.

Iraq — Central Bank of Iraq: Iraq — Central Bank of Iraq is issuing warnings to its customers about potential scams related to new customs charges, aiming to protect them from fraud.