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Iraq once again controls own economy, free of UN sanctions

Iraqis await promising foreign investments and a political and economic opening to the world now that the UN has lifted decadeslong sanctions imposed after Iraq invaded Kuwait.
Iraq's Prime Minister Haider al-Abadi addresses the session 'A Vision for Iraq' in the Swiss mountain resort of Davos January 23, 2015. More than 1,500 business leaders and 40 heads of state or government attend the Jan. 21-24 meeting of the World Economic Forum (WEF) to network and discuss big themes, from the price of oil to the future of the Internet. This year they are meeting in the midst of upheaval, with security forces on heightened alert after attacks in Paris, the European Central Bank considering
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BAGHDAD — The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

The Iraqi Foreign Ministry said Dec. 9 the country had completed its obligations under the sanctions, which were imposed in 1990 when dictator Saddam Hussein invaded Kuwait. The UNSC levied the penalties after naming Iraq a threat to international security and ordered it to pay reparations to states and other parties that suffered as a result of the invasion.

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