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  • 09-08-18

    US sanctions to hit Iran-Iraq trade

    (MENAFN) Iran has been warned of negative consequences to hit its industries following the US move of renewing sanctions, with an expectation to lose a major market in Iraq.

    A ministry of trade source unveiled the volume of trade between Iran and Iraq to have reached about USD6.7 billion in 2017, with USD77 million worth of Iraqi exports to Tehran.

    The Iraqi economy is to also be hit with the US sanctions on Iran, as suggested Muzhar Mohammed Salah, an economic adviser to Iraq's prime minister, during an interview with Agence France Presse.

    The economic adviser added "the two or three million Iranian pilgrims who come each year represent a major economic activity that Iraq could now be deprived of."

    MENAFN0908201800450000ID1097271948

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