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 between Iraq and Iran as there is sizeable trade between the two countries in terms of oil and gas.”
According to the report, while countries are yet to sever trade ties, the impact is already being felt on Iran’s economy, with the rial rapidly losing value.