The Iraqi government and the Central Bank of Iraq are exploring urgent mechanisms to avoid the fallout from the new package of US economic sanctions imposed on Iran. Concerns in Baghdad are focused on the extent to which these sanctions will affect imports of Iranian gas used to power Iraqi electricity stations, in addition to cross-border trade. Iraqi delegations are holding intensive talks in Washington to secure exceptional waivers preventing the collapse of the national power grid, while the US Treasury pressures Iraqi banks to tighten oversight and prevent the leakage of dollars into neighboring Iranian markets.