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 […]
Iraq Granted Exemption from US Sanctions on Iran’s Energy Exports Iraq will continue to have access to the energy it needs from Iran to generate and supply electricity, Brian Hook, the special representative for Iran at the US State Department, said. “Iraq has been granted an exemption” to the energy sanctions the US has re-imposed […]
The United States has told Iraq that it will be allowed to keep importing crucial gas, energy supplies and food items from Iran after Washington reimposes sanctions on Tehran’s oil sector, three Iraqi officials said. The waiver is conditional on Iraq not paying Iran for the imports in US dollars, said the officials, who included […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions today on Afaq Dubai, an Iraq-based money services business (MSB) that has been moving money for the Islamic State of Iraq and Syria (ISIS). Today’s designation follows action taken by the Department of Defense—announced on October 11—against a key ISIS financial […]
By Laura Rozen for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Concerned that tensions between Iran and the United States could blow back onto Iraq, a senior Iraqi diplomat said today that Iraq would be willing to facilitate dialogue between […]
Iraq is negotiating with the U.S. for exemptions from the impending snap-back of sanctions against Iran, arguing that it could not cut consumption of Iranian electricity and natural gas immediately without suffering serious economic harm and social instability. An Iraqi delegation was in Washington last week seeking a waiver for its cross-border trade, meeting with […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. US sanctions have made it too expensive for Iranian Shia Muslims to travel to Iraq to mark Ashoura. Ashoura is a day of remembrance, commemorating the death of Imam Hussein, a grandson of […]
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 religious tourism suffers from US sanctions on Iran US economic sanctions on Iran are stemming the flow of religious tourists to neighboring Iraq, even as the Muslim holy month […]
By Fazel Hawramy for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi Kurds throw lifeline to Iranian Kurds as sanctions begin to bite As Washington tightens the screws on Iran with crippling sanctions to bring the ayatollahs to their knees, […]
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. The Iranian economy has spiraled out of control since a new set of US-enforced sanctions against trade with Iran went into force Aug. 7, as its currency value has been plummeting ever since while inflation rates are […]
By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Current analysis of renewed Iran sanctions often overlooks the wider context of Iraq's regional trading relations. The extent of Iraq’s compliance with […]
By John Lee. A former under-secretary at Iraq’s Ministry of Finance has said that ministry has said that US sanctions on Iran will impact trade activity between Iraq and Iran and, should they persist, they will damage Iraq’s economy. Fadhil Nabi told Rudaw: “America’s sanctions on Iran will have impact on trade exchange and activity […]
