economy Baghdad, Iraq
War-related trade disruption triggers Iraq currency devaluation and strains economy
90%
Oil revenues account for more than 90 percent of Iraq’s federal budget.
Disrupted Strait of Hormuz oil exports have strained Iraq’s finances, prompting a dinar devaluation, higher import costs and trading uncertainty. Iraq is pursuing alternative routes, including expanded exports through the Iraq–Turkey Pipeline.
3 sourcesAl JazeeraUpdated
Also: Iran · Israel
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- 60BUSD
AllegedAli al-Zaidi said Iraq had lost about $60 billion in oil revenues because of the war.
2 of 2 sources“Iraq ... has lost $60bn in oil revenues since the war began.”
- 90%
Iraq was unable for a period to export about 90 percent of its oil through its usual Gulf routes.
2 of 2 sources“Iraq has been unable to export about 90 percent of its oil via the Gulf”