Qalibaf calls for Baghdad's economic independence

Iranian Parliament Speaker Mohammad Baqer Qalibaf emphasized the need to reduce dependence on the dollar in economic relations with Iraq, aiming to establish a "precise roadmap" to strengthen economic cooperation between the two countries—especially amid the U.S. sanctions imposed on Iran and its partners. He called for reliance on local currencies in trade and for completely eliminating dependence on the dollar, despite Iraq currently relying entirely on the dollar for oil exports, with over 90% of its oil revenues deposited in U.S. dollars at the Federal Reserve Bank. These calls come within the context of Iraq facing significant economic challenges, including exporting oil through alternative routes, and striving to increase production to 8-10 million barrels per day over the next six years, with a focus on fighting corruption and boosting economic stability.

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