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[size=36]Expert: Any new US sanctions affecting the economy will have a severe impact on Iraq[/size]
Economy | 12:01 - 01/25/2024
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Mawazine News - Baghdad
Economic expert Nabil Al-Marsoumi warned, on Thursday, of resounding repercussions in the Iraqi economy in the event of US sanctions being imposed on Baghdad, noting that the country is linked to the American economy in a way that cannot be risked.
Al-Marsoumi said in a televised interview followed by Mawazine News, “The Iraqi economy is fragile and rentier and depends only on oil, and it cannot be risked at all.”
He added, "Iraq relies 93 percent on the sale of oil in its economy, which means that it is closely linked to the American economy, since the sale of oil is exclusively through the dollar."
He pointed out that "oil revenues enter directly into American banks and are then spent in favor of Iraq, which increases the magnitude of fears," noting that "the imposition of any penalty from the American Treasury will be very severe on Baghdad."
Economic expert Nabil Al-Marsoumi warned, on Thursday, of resounding repercussions in the Iraqi economy in the event of US sanctions being imposed on Baghdad, noting that the country is linked to the American economy in a way that cannot be risked.
Al-Marsoumi said in a televised interview followed by Mawazine News, “The Iraqi economy is fragile and rentier and depends only on oil, and it cannot be risked at all.”
He added, "Iraq relies 93 percent on the sale of oil in its economy, which means that it is closely linked to the American economy, since the sale of oil is exclusively through the dollar."
He pointed out that "oil revenues enter directly into American banks and are then spent in favor of Iraq, which increases the magnitude of fears," noting that "the imposition of any penalty from the American Treasury will be very severe on Baghdad."
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