The head of the Reconstruction and Development Bloc, Bahaa Al-Araji, revealed that Iraq has incurred losses exceeding $120 billion, including $48 billion in the oil sector, due to the US-Iran war, calling for the formation of a political delegation to negotiate with Tehran.
The head of the Reconstruction and Development Bloc, Bahaa Al-Araji, confirmed that Iraq was among the countries most affected by the repercussions of the US-Iran war. He pointed out that the damage inflicted on the national economy sometimes exceeded what the warring parties themselves suffered, due to Iraq's total reliance on its oil revenues.
Repercussions of the War: Heavy Economic and Oil Losses
Al-Araji explained in a press conference followed by the "Al-Saa" network that the Iraqi economy suffered severe blows that directly impacted the funding of the state's general budget.
The most prominent losses announced by Al-Araji are as follows:
Oil Sector Losses: A loss of approximately $48 billion in direct oil revenues during the war period.
Total Losses: The total cost of the economic damage exceeded the $120 billion mark.
He noted that the danger of these figures lies in the fact that oil represents the vital artery and almost the sole source of funding for the Iraqi state's general budget.
The Oil File in the Discussions of Prime Minister "Ali Al-Zaidi"
The head of the Reconstruction and Development Bloc indicated that the oil exports crisis and the war's impacts were among the most prominent files brought to the discussion table during the recent visit by Iraqi Prime Minister, Ali Al-Zaidi.
Al-Araji pointed out that Iraq, both government and people, has provided supportive and backing stances to Iran during crises, but has not yet witnessed a reciprocal stance reflecting a commitment to protecting Iraq's oil and economic interests. He stressed that the relationship with neighboring Iran is distinguished and based on shared historical ties; however, protecting Iraq's rights and financial resources must top the list of priorities.
Urgent Call to Form a Political Delegation to Negotiate with Tehran
In the context of finding solutions to the crisis, Al-Araji made a clear demand for urgent diplomatic and political action. His proposals include:
Forming a high-level political delegation: Comprising representatives from various Iraqi political blocs.
Heading to Tehran: To conduct direct and frank negotiations that pave the way for official agreements with the Iraqi government.
Addressing pending issues: Mitigating the economic crises and securing export lines before conditions worsen.
Al-Araji concluded his statements by asserting that Iraq "deserves special and exceptional treatment in the oil export file," expressing his hope that the Iranian leadership will understand the extreme sensitivity of this file to the survival and stability of the Iraqi state, and take tangible positive steps to protect the interests of both countries.
