US military withdrawal from Iraq marks end of an era

The United States and the International Coalition have completed their military withdrawal from Iraq, marking the end of a decades-long era of occupation and combat operations. While the departure was noted as relatively quiet compared to previous exits in Afghanistan or 2011, it raises significant questions regarding Iraq's ability to maintain internal security and manage regional tensions.

Despite the military exit, the United States maintains substantial influence over Iraqi affairs through financial mechanisms. Specifically, the US Treasury Department exercises control over Iraqi oil revenues, which are processed through New York banks. This system allows the US to delay or halt payments, with approximately $2 billion currently under US administrative control.

Security concerns persist as Islamic State militants increase activity in disputed areas like Kirkuk. Furthermore, the regional landscape remains volatile due to conflicts involving the US, Israel, and Iran, all of which have targeted Iraqi territory despite Baghdad's declarations of neutrality. While the Iraqi government seeks greater sovereignty, many Iranian-backed militias remain active within the country.