The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
The central banks of Iran and Iraq are finalizing negotiations to begin trade in their own currencies, chairman of Iran-Iraq Chamber of Commerce said. Speaking to Tasnim, Yahya Ale-Eshaq said negotiations between the central banks of Iran and Iraq are under way to reach an agreement on using rial and dinar in bilateral trade. Once […]
By John Lee. US Energy Secretary Rick Perry spent the last two days trying to convince the Iraqi government that it's in its best interest to cut energy ties with Iran. But according to a report from Washington Examiner, his efforts have had limited success. Perry tweeted: "In bilateral meetings with Iraqi President @BarhamSalih, Prime Minister […]
Iraq’s new Foreign Minister Mohamed Ali Alhakim highlighted the importance of bilateral relations with Iran and said the Arab country cannot cut off its trade ties with the Islamic Republic due to the US sanctions. Alhakim pointed to Washington’s economic sanctions against Tehran and said, the value of annual trade between Iran and Iraq amount […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. As the United States enacts sanctions on Iran, Iran is increasing its influence in Iraq with plans for a railway that could work around US restrictions. The state-owned Islamic Republic of Iran […]
By John Lee. Gas exports from Iran to Iraq have reportedly been interrupted as authorities in Iran repair pipeline damage caused during a recent earthquake. The gas is used for electricity generation, with the cut reducing available power by 2,500 megawatts (MW). Supplies are expected to be restored over the coming days. (Sources: Iraq Oil […]
By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. In Iraq, tension between the US-led coalition and armed groups linked to Iran has risen in recent months. For example, the United States sanctioned key representatives of Lebanese militant group Hezbollah on […]
By Bijan Khajehpour for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The reimposition of US secondary sanctions has compelled Tehran to look for ways to reduce their negative impact. According to Iranian officials, one of the strategies is to increase trade […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. With rising US pressure, Iran worries about losing ground in Iraq Iraqi President Barham Salih met with Supreme Leader of the Islamic Revolution Ayatollah Ali Khamenei Nov. 17 in Tehran, where Khamenei underlined […]
Iraq has emerged as Iran's top export destination in the current Iranian year, an official announced. The director of the export bureau of Iran’s Customs Office, Ali Akbar Shadmani, said the value of the country’s exports since the beginning of the current Iranian year (March 21, 2018) has surpassed $30 billion, with Iraq being the […]
Iranian ambassador to Baghdad said Iran and Iraq are weighing plans to eliminate US dollar in trade transactions and also lift visa requirements for citizens of the two countries. Speaking at a TV program on Saturday night, Iraj Masjedi said Tehran and Baghdad are considering plans to use Iraqi dinar for trade transactions or develop […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action today to target four Hizballah-affiliated individuals who lead and coordinate the group’s operational, intelligence, and financial activities in Iraq. Specifically, OFAC designated Shibl Muhsin ‘Ubayd Al-Zaydi, Yusuf Hashim, Adnan Hussein Kawtharani, and Muhammad ‘Abd-Al-Hadi Farhat as Specially Designated Global Terrorists (SDGTs) […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's new Prime Minister Adel Abdul Mahdi has opted for the policy of his predecessor, Haider al-Abadi, by committing himself to the US sanctions on Iran. A few hours […]
