Report Says Iran Boosting Trade with Iraqi Kurds After U.S. Syria Exit

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Title : Report Says Iran Boosting Trade with Iraqi Kurds After U.S. Syria Exit
Link : Report Says Iran Boosting Trade with Iraqi Kurds After U.S. Syria Exit

Iran has intensified efforts to boost trade with northern Iraq’s autonomous Kurdistan Regional Government (KRG) to bypass crippling U.S. sanctions imposed on the Islamic Republic this year, Rudaw reported Friday.

“Iran has doubled efforts to increase trade volume with the Kurdistan Region and Iraq, and according to local officials, in 2018 alone Iran exported $10 billion worth of import trade with Iraq, a third of it with the Kurdistan Region. … Tehran tries to get around the US sanctions and soften the blow by increasing trade ties with other countries,” Rudaw noted.

An increase in trade translates to more foreign currency for cash-strapped Tehran, the news outlet acknowledged.

In November, U.S. President Donald Trump’s administration sanctioned Iran’s oil, banking, shipping, and other sectors – reimposing restrictions lifted by former President Barack Obama as part of the controversial 2015 Iran nuclear deal. President Trump pulled the U.S. out of the Iran nuclear pact in May, saying that the agreement failed to restrain Tehran.

On November 5, the United States imposed sanctions on 700 Iranian targets as part of its “largest ever single day” of economic penalties against Tehran, the U.S. Treasury Department announced.

While campaigning for president, Trump vowed to take a harder line against Iran. However, some analysts, including Sen. Lindsey Graham (R-SC), have warned that the American commander-in-chief’s decision to pull out of Syria could be a boon for Iran and its allies, namely Russia and the regime of dictator Bashar al-Assad.

The withdrawal is expected to negatively impact the Syrian Kurds who helped the U.S.-led coalition decimate the Islamic State’s (ISIS/ISIL) physical caliphate.

The Trump administration’s decision to withdraw from Syria came as Turkey was preparing to deploy its military into Syria to confront Kurdish militias that it accuses of threatening its sovereignty.

U.S. support for the Syrian Kurds has strained the ties of NATO allies Washington and Ankara.

Pentagon officials cautioned Ankara against attacking the Syrian Kurds, but now that American forces are slated to leave, some Kurdish officials are accusing the United States of abandoning them. READ MORE