Iraq Suffers Estimated $60 Billion in Losses from US-Iran War, Foreign Minister Says
Iraqi Foreign Minister Fuad Hussein announced that Iraq had incurred estimated losses of around $60 billion as a result of the recent war between the United States and Iran. He warned that the continuation of the conflict had worsened the global energy crisis and heightened concerns over rising inflation, with negative consequences for economies worldwide, including those of European countries.
Hussein made the remarks during a meeting on Thursday with Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Antonio Tajani at the Italian Foreign Ministry in Rome. The talks focused on bilateral relations, ways to strengthen joint cooperation, and key regional and international developments.
Hussein expressed Iraq’s appreciation for Italy’s support over the past years, particularly its contribution to Iraq’s fight against terrorism and the defeat of ISIS. He also praised Italy’s continued efforts to train federal police forces affiliated with Iraq’s Interior Ministry and Peshmerga forces in the Kurdistan Region.
According to a statement from Iraq’s Foreign Ministry, the two officials discussed prospects for expanding security and military cooperation in the coming period, particularly in light of developments surrounding the end of the international coalition’s mission in Iraq. They also addressed outstanding financial and military issues involving the Iraqi government and Italian companies dating back to the former regime.
The meeting further examined the consequences of the ongoing Russia-Ukraine war for European security, as well as regional conflict developments and their impact on Iraq and the Arab Gulf states.
Hussein stressed the importance of the European Union and European countries, including Italy, playing an active role in supporting peace initiatives, bridging differences between the parties to the conflict, and encouraging a return to negotiations to contain escalation and prevent the conflict from spreading further.
For his part, Tajani praised the strong relations between Iraq and Italy, reaffirming Rome’s support for Baghdad across various sectors.
The meeting concluded with an agreement to maintain communication and coordination on issues of mutual interest. Hussein also extended an invitation to his Italian counterpart to visit Iraq.
