What will effect Iraq’s economy If sanctions begin to lift on Iran

Posted: December 2, 2013 in Iraqi Dinar/Politics
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The effects of lifting the sanctions on Iran on Iraq’s economy

Decides to lift the sanctions imposed on Iran a few years ago because of a dispute between them and the international community to the real purpose

That could be behind the Iranian nuclear program, which has seen an expansion in which the escalation in the pace of development until the percentage of enrichment to 20 per cent, as he was to start making plutonium used in making a nuclear bomb. Under the new agreement, which was reached in Geneva between Iran and the six powers Great, the five permanent members of the UN Security Council in addition to Germany, it is scheduled to be reduced enrichment to the lowest level and stop working plant plutonium and placement of all facilities to the supervision and inspection to ensure a peaceful program.

Prior to the Agreement shall enter into force later this year or early next year international community decided to ease some of the economic sanctions gradually to ease Alabo on Iranian citizens and a statement of good faith and encourage the Iranian government to honor its commitments and not undone.

Iraq had become in the previous period during the sanctions stage the biggest commercial market for Iran, as the volume of trade exchange between the two seven billion dollars in 2009, and rose to about 10 billion this year, according to Executive Director of the Association of Iraqi banks Abdul Aziz Hassoun, who believes that the balance of trade tilted in favor of Iran in an exaggerated manner and must work to be traced back to normal.

And exploited Iran relations distinguished with the dominant powers on the government in Iraq to ease international sanctions imposed on it, and turning Iraq into a landfill for goods Iran shoddy quality and prices are expensive, and even Iran withdrew goods supported by the Iraqi government and re-exported to him at prices too high, while declined to Iran supplying Iraq with technology to support the agricultural sector and industrial to ensure the subordination of Iraq has, according to observers, as Iran has other actions unfriendly toward Iraq by cutting through the water with him and the elimination of agricultural production in the border provinces, through the establishment of dams on the rivers or their diversion and water pollution that feeds waterway Shatt al-Arab, causing the elimination of agriculture in southern Iraq and the marshes and the destruction of many farms in Diyala, Kut and Amarah.,

and other negative effects of the lifting of economic sanctions on Iran on Iraq is sinking Iraqi markets more Iranian goods bad and harmful to public health, says Nora dry Committee member of the economic and investment in the House of Representatives.,

but Iran has during the period of sanctions by exploiting Iraq for goods were banned by and they get on the need of foreign currency through Iraqi banks that were contributing to the even, and set up banks in Iraq without the face of legal and exploited auction daily for the dollar to get their need for what caused the stagger work there and sack the head of the central bank and the resignation of a second for their inability to control this.

confirms Hassoun that trade with Iran is not limited to goods, but that there is an overlap bank organically between the two countries. says economic analyst Bassem Jamil Antoine said Iran put a heavy load on Iraq, especially in the field of banking and purchase of foreign currency the dollar, and that the lifting of sanctions probably will restore balance to the trade as well as banking.

Considers a member of the Committee of Economy and Investment Nora dry that the national economy of Iraq affected negatively trading with Iran, both remained or sanctions lifted because of absolute subordination.

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