The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
From The Economist. America is trying to get more out of its relationship with Iraq US President Donald Trump thinks America is being ripped off. “We have spent $7trn—trillion with a T—$7trn in the Middle East,” he told a crowd last year, exaggerating slightly. “You know what we have for it? Nothing. Nothing.” To right […]
By Salam Zidane for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Iran pushes Iraq to maintain trade without US dollar Iran is exerting considerable pressure on the Iraqi government to compel it not to abide by the US sanctions that have […]
By John Lee. Iraq's Minister of Foreign Affairs, Mohamed Ali Alhakim [Mohammed Ali al-Hakim] (pictured) has been quoted as saying that Iraq is not obliged to abide by US sanctions against Iran. According to Rudaw, he told journalists on Wednesday: "These sanctions, the siege, or what is called the embargo, these are unilateral, not international. We […]
The secretary general of Iran-Iraq joint chamber of commerce highlighted an upward trend in the export of Iranian products to Iraq. In a meeting with Iranian and Iraqi trade delegations, Hamid Hosseini pointed to a growing trend in Iran’s exports to the Arab country, saying its daily value stands at $45 million and sometimes reaches […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. There is a fight over energy in Iraq between the US and Iran. Iraq relies on Iranian gas for nearly half of its energy - gas that is now subject to US sanctions […]
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 […]
