Sabah Alwah, a former adviser to the Iraqi Ministry of Oil, told Al-Monitor that Iran pressured Iraq to go to China in an attempt to embarrass the United States, has issued trade sanctions against countries doing business with Iran and in a trade conflict with China. Hence, China could relinquish its projects in Iraq if Beijing and Washington Iran, Iraq to Use Euro, Dinar in Oil Trade By Editor on 8th February 2019 in Iraq Banking & Finance News , Iraq Oil & Gas News The governor of the Central Bank of Iran unveiled plans for using non-dollar accounts for oil and gas trade with Iraq. Conoco backed out of the deal and Clinton banned U.S. companies from participating in oil deals with Iran. This was further consolidated by the 1996 Iran and Libya Sanctions Act, a law that called for the U.S. to establish “multilateral trade sanctions” against Iran. Sanctions against Iran were now the law of the land.