ECONOMIC AND OIL EXPERTS PREDICT THE REPERCUSSIONS OF THE ZIONIST AGGRESSION AGAINST IRAN AND ITS IMPACT ON IRAQ

ECONOMIC AND OIL EXPERTS PREDICT THE REPERCUSSIONS OF THE ZIONIST AGGRESSION AGAINST IRAN AND ITS IMPACT ON IRAQ.

Economic and oil experts have differing opinions regarding the repercussions of the Zionist aggression against Iran and its potential impact on trade flows in the region and the global oil market. They stress that the current situation carries within it many variables that are difficult to predict accurately.

Abdul Rahman Al-Mashhadani (Economic Expert): Iraq is capable of diversifying its import sources.

Economic expert Abdul Rahman al-Mashhadani told Euphrates News that “the impact on trade with Iran from the recent repercussions is linked to several factors, most notably the duration of the airstrike on Iran and the facilities that will be targeted.” Al-Mashhadani noted that “the strike so far has been localized, and talk of it continuing for weeks is expected. It is certain that there will be action and reaction.”

Al-Mashhadani added, “We do not expect trade routes to be targeted. The current targeting is limited to military facilities.” He emphasized that “Iraq, in general, is capable of diverting its trade from Iran to other countries, because all it currently imports from Iran are crops that can be replaced from Turkey, Jordan, and Syria.”

Al-Mashhadani warned that “the real problem will be the escalation of the conflict and the attack on the Strait of Hormuz, which will affect our oil exports despite the rise in oil prices.” Al-Mashhadani concluded his remarks by emphasizing that “issues related to commodities and crops will not have a significant impact, and the impact on trade will only be initial.”

Hamza Al-Jawahri (oil expert): Oil prices will continue to rise. For his part, oil expert Hamza Al-Jawahiri predicted to Euphrates News that “the rise in oil prices as a result of the recent repercussions will increase further, especially since initial data indicates it will continue for several weeks.” Al-Jawahiri explained that “its impact on shipping in the Gulf could lead to a further rise in prices, as its impact negatively impacts oil supplies.”

Bassem Jamil Antoine (Economic Expert): Great chaos and difficulty in prediction

In the same context, economic expert Bassem Jamil Antoine warned in a statement to Euphrates News that “the recent repercussions in the region will lead to major chaos, and the outcome of this war, its duration, and the Iranian response cannot be estimated.” Antoine noted that “its impact will depend on how long the war lasts.”

Antoine predicted that “Iraqi trade will be significantly affected, and it is impossible to provide a clear picture. This will increase demand for the dollar, which will be reflected in its rise.”