What is sovereignity? If it means the right to 'control' your own destiny through elected officials (or unelected despots), then Iraq has it. Actually, if you think about it, sovereignity only exists if other nations say it exists. So the Russian republics supposedly were 'sovereign' (including the Baltics who got their own UN delegates) but nobody thought that the USSR didn't call the shots, so their 'sovereignity' was useless/valueless. In the case of Iraq, if all the rest of the world says they're sovereign, then they are.
Another example would be Swaiziland and Lesotho and the other 'homelands' in South Africa that no one really treated like real nations. You're only a 'nation' if the 'big boys' say you are.
It's Amino world without Chemists