Iran-Iraq Trade Not Affected by US Sanctions, Baghdad Says
TEHRAN (Tasnim) – The bilateral trade between Iran and Iraq has not been affected by the sanctions imposed by Washington against Tehran, an Iraqi official said.
Fadel al-Hamdani, head of the Iraqi-Iranian Chamber of Commerce, told Al-Monitor, “Trade between Iraq and Iran is still ongoing and has not been affected by the US sanctions imposed on Tehran given the ongoing negotiations between Iraq and the United States.”
“Financial transactions are ongoing as per the normal procedures, and it is traders who are behind the changes that may have affected such transactions,” he said, adding, “If the Iraqi government makes any decisions related to trade with Iran, then the Iraqi private sector will abide by such official decisions.”
Speaking at a joint press conference with his Iraqi counterpart, Barham Salih, in Tehran in November, Iranian President Hassan Rouhani said the value of trade and economic interaction between Tehran and Baghdad stands at around $12 billion, adding that the two neighbors have the potential for a $20-billion trade target.
Rouhani hoped that cooperation between Tehran and Baghdad would contribute to regional security and stability and peaceful settlement of the war on Yemen and the Syria crisis.