Iran is upping its game in Iraq as U.S. influence recedes, deepening ties with its neighbor to help offset U.S. sanctions.
Iranian president Hassan Rouhani has returned from his first-ever trip to Iraq with a raft of agreements for expanded trade, cross-border infrastructure, and pledges of greater cooperation with Baghdad.
Iraq is"another channel for Iran to bypass America's unjust sanctions ... this trip will provide opportunities for Iran's economy," a senior Iranian official on the trip was quoted as telling Reuters last week. The Trump administration reinstated sanctions on Iran last year for what it deemed"destabilizing and malign activities around the world," and the country's economy has since been in a tailspin.
In turn, Rouhani has seized on the opportunity to scold the U.S., telling Iranian media last week that his country's ties with Iraq"cannot be compared to Iraq's relations with an occupying country like America, which is hated in the region." "The Trump administration is grappling with the extent and limit of U.S. sanctions and power to counter Iran in a country like Iraq with such deep social, economic and cultural ties to Iran," the adviser said.
Iran-Iraq trade currently stands at an estimated $12 billion and both governments have pledged to expand this to $20 billion. Iran is Iraq's third-biggest trading partner, but the relationship is lopsided: it's mostly Iranian exports to Iraq, to the tune of more than $9 billion. "Most of these shared oil wells are located inside Iraq," Seloom said, citing a major oil well, al-Fakkah, as 95 percent inside Iraqi territory."Yet, Iran under the new treaty claims a 50 percent share of its production."
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