Economy, Business And Markets

US Dollar Abolished From Iran-Iraq Trade

Yahya Al-e Es’haq Yahya Al-e Es’haq

The US dollar has been completely eliminated from trade deals conducted between Iran and Iraq due to US sanctions and the neighboring countries have shifted toward the euro and national currencies, the head of Iran-Iraq Chamber of Commerce said.
“Dollar transactions between Iran and Iraq have been removed and a majority of deals are now being conducted with the euro, rial and Iraqi dinar,” Yahya Al-e Es’haq also told IBENA on Saturday.
US sanctions, whose first batch were reimposed after a wind-down period ended on Aug. 6 following a unilateral withdrawal by US President Donald Trump from Iran’s nuclear accord, seek to limit or eliminate Iran’s access to dollar transactions among other things.
Early August, Iraqi Prime Minister Haider al-Abadi said Iraq disagrees with the US sanctions on Iran but would abide by them to safeguard its own interests. His comments triggered much criticism in Iran. 


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