Iraq faces financial risks as Hormuz remains closed
Iraqi Foreign Minister Fuad Hussein warned that the financial crisis in Iraq could worsen if the Strait of Hormuz remains closed, as approximately 90% of Iraq's oil is exported through it. Such a closure would lead to difficulties in paying salaries and disrupt the national economy. Iraq has had to export its oil via alternative routes such as Syria and Turkey due to the closure of the strait, but it is suffering a significant decline in its oil exports through Hormuz, which have dropped from 93 million barrels per day to 10 million.
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