US sanctions have no effect on Iran-Iraq trade exchange

manager July 8, 2018 Economy Comments Off on US sanctions have no effect on Iran-Iraq trade exchange 70 Views

Speaking to local media, Najibe Najib said due to the strength of trade relations between Iran and Iraq, sanctions will have no effect.

Iraq is constantly in need of Iranian raw materials and food, she added.

Despite US pressures on Iran over the past few years, the trade ties between the two countries experienced growth, she noted.

The volume of trade exchange between Iran and Iraq is over $ 13 billion.

On May 8, US President Donald Trump announced that Washington was walking away from the nuclear agreement.

Trump also said he would reinstate the US nuclear sanctions on Iran and impose “the highest level” of economic bans on the Islamic Republic.

Under the JCPOA, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.

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