Iraqi Foreign Minister Fuad Hussein said that Iraq had lost about $60 billion during the recent war between the United States and Iran.
The ongoing U.S.-Iranian conflict exacerbates the global energy crisis and heightens inflationary concerns, adversely affecting global economies, including Europe, warned Hussein during a meeting in Rome with Italian Deputy Minister and Foreign Minister Antonio Tajani.
The two sides also discussed prospects for developing security and military cooperation, particularly in light of developments related to the conclusion of the international coalition's mission in Iraq.
Iraq's economy relies heavily on crude oil exports, which account for about 90% of the country's revenues. The country normally exports about 100 million barrels of crude monthly, but volumes have plunged since the U.S. and Israel launched joint strikes on Iran on February 28, triggering the closure of the Strait of Hormuz.
