Iran war squeezes Iraq’s economy as oil revenues fall and prices rise
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Source: Al Jazeera
Published: 2026-09-26 18:13 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Business, Middle East, Military & Defence, Iran, Energy, Economy & Finance, Food & Agriculture, Trade & Sanctions, World News, Business & Economy, War & Conflict
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Snippet:
Iraq is a state heavily dependent on imports, from food and medicines to appliances, as well as raw materials for its industries. Its one big export is oil, but it sits on such a huge supply of the natural resource that revenues from the sale of oil abroad offset the imports and ensured that the country had a positive trade surplus.
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