Tag Archives | Iraq

US Dollar Ditched in Iran-Iraq Trade

Chairman of Iran-Iraq Chamber of Commerce Yahya Ale-Ishaq said that the US dollar is no longer used in the bilateral transactions between the two countries. Dollar-based transactions between Iran and Iraq have been discarded, Ale-Ishaq said on Saturday, adding that euro, the Iranian rial, and the Iraqi dinar are mostly used in the bilateral trade […]

US Sanctions cause Big Losses for Iraqi Investors in Iran

By Salam Zidane for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iran 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 […]

Video: Religious Tourism Squeezed by Iran Sanctions

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqis in the holy city of Najaf are being hit hard by US sanctions on neighbouring Iran, which have forced cash-strapped pilgrims to stay at home. View on YouTube

Closer Cooperation between Iraq and Iran

Iran Eyes Closer Cooperation with Iraq after Formation of New Gov’t Iranian Foreign Ministry Spokesman Bahram Qassemi hailed the growing relations with Iraq and said Tehran plans to boost its cooperation with Baghdad after a new government is formed in the Arab country. “Our relationship with Iraq as a neighboring country is good and there […]

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Iran, Sanctions and Iraq: The Bigger Picture

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 Iran 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 […]

Iraq to Reduce Visa Charges for Iranian Pilgrims

By John Lee. Iraq will reportedly reduce its visa charges for Iranian pilgrims later this year. According to the report from Associated Press, the reduction will only apply to pilgrims of the “Arbaeen,” the anniversary of the passage of 40 days after the death of Shiite Imam Hussein, the Prophet Muhammad’s grandson. Visas normally cost […]

Iraq Fails to convince Iran to Resume Power Supply

Iraqi Electricity Minister Qassem Al-Fahdawi (pictured) said yesterday that his country has failed to convince Iran to resume supplying Iraq with electricity. Last Friday, Al-Fahdawi along with an Iraqi delegation arrived in Tehran where they held talks with Iranian officials to resume supplying Iraq with 1,000 megawatts of electricity, which Tehran cut off about two […]

IGAT-6 Gas Pipeline Fully Operational

Iran has fully launched the 6th nationwide gas trunkline (IGAT-6) which bolsters the country’s gas export capacity to Iraq. The National Iranian Gas Company (NIGC) CEO Hamidreza Araqi said a major section of the project came online last calendar year (ended on March 20) and the last 100-km of the project has now come on-stream. […]

An Integrated Approach for Iraq/Iran Border Fields

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. An Integrated Approach for Investment in Joint Development-Unitization for Iraq/Iran Border Petroleum Fields & Exploration Blocks This article provides brief note in panel discussion and abstract of a keynote PowerPoint presentation prepared […]

Video: Will Iran-US Tensions threaten Iraq’s Stability?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. It’s been three weeks since the parliamentary election in Iraq and many Iraqis voted for a nationalist party opposed to foreign interference. But both Riyadh and Washington want an Iraq that is sympathetic […]

US, Iran “Face Off” in Former Extremist-Held Iraqi Town

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Locals in Al Qaim, Anbar, worry that the current stable security situation can’t last. It’s being upheld by US troops and Iran-allied militias, whose antipathy toward one another is […]

Iraq’s Pro-Iran Factions shrug off US Sanctions Push

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Two pro-Iranian militias active in Iraq and Syria declared that possible US sanctions targeting them would be ineffective and claimed that such sanctions would actually strengthen their presence and expansion in […]

Iran Starts Oil Swap with Iraq’s Kirkuk

Iran started swapping oil with Iraq‘s Kirkuk on Sunday, after the two neighbours sorted out the logistic issues that were preventing the swap’s startup. According to the CIF-based swap deal, Iran receives 30,000 to 60,000 bpd of oil from the Kirkuk oil fields in northern Iraq to an Iranian refinery across the border via tanker […]

6000 IKCO Cars to Be Dispatched to Iraq

Iraq‘s car market is one of IKCO‘s best export targets and the company is planning on shipping 6000 sets of cars as Samand, Soren, Peugeot Pars and Dena to this market. Hassan Golchubian, IKCO’s Exports Director for Middle East and Africa asserted, “Considering the export markets’ demand for cars with automatic gearboxes, IKCO has set […]

Iraq Election leaves Iran Scrambling to Preserve Influence

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Sairoon (On the Move) Alliance formed by Muqtada al-Sadr and the Iraqi Communist Party is ahead in the preliminary results of the Iraqi elections. More than 90% of the votes in all of […]

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US puts Sanctions on head of Central Bank

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hizballah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force […]

Aiding Iraq in Reconstruction Iran’s Priority

Aiding Iraq in Reconstruction Iran’s Priority after Daesh Defeat: Defense Minister Iranian Defense Minister Brigadier General Amir Hatami said that following the defeat of the Daesh (ISIL or ISIS) terrorist group in Iraq, Iran’s priority in its cooperation with Iraq now is helping the Arab country in its reconstruction process. In a meeting with Iraqi […]

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Iran Oil Ministry: Iraq to Blame for Delay in Oil Swap

Iran’s Oil Ministry linked a 4-month delay in the implementation of an oil swap deal with Iraq to the Arab country’s unpreparedness and technical problems. In a letter to the Tasnim News Agency in response to a recent report on the lengthy delay in implementation of the oil swap deal with Iraq, Iran’s Oil Ministry […]

Russian Firm to Invest $740m in Iranian Oil Fields

Russia’s state-controlled Zarubezhneft signed an agreement in Tehran on Wednesday to re-develop two oil fields in western Iran. It was the second post-sanctions oil contract awarded to Russia by Iran. Based on the agreement, the Russian firm would re-develop Aban and West Paydar oil fields. Both fields are located in areas bordering Iraq and are […]