EconomyIran war squeezes Iraq’s economy as oil revenues fall and prices rise

Disrupted oil exports, costlier imports and a weaker dinar are exposing Iraq’s dependence on oil and foreign goods. Prime Minister Ali al-Zaidi says the war has cost Iraq about $60bn in oil revenue after around 90 percent of exports were temporarily blocked through usual Gulf routes. Shipping disruption has also delayed supplies, raised transport costs and pushed imported-goods prices up by 25 to 30 percent.

Iraq economyoil revenuesStrait of Hormuzimport prices

AAl Jazeera★★★★☆2026-09-26 08:13Original