US blocks Iraq's dollar shipments to squeeze its Iran-backed militias and suspends security cooperation with Baghdad in an escalating pressure campaign, according to WSJ

The U.S. blocking dollar shipments to Iraq intensifies pressure on Iran-backed militias and signals a noteworthy shift in U.S.-Iraq relations. This could lead to increased volatility in regional assets, particularly oil and safe havens like gold, as investors assess the implications for stability and potential retaliatory actions.