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Iraq Warns of Economic Impact if Hormuz Closes
Iraqi Foreign Minister Fuad Hussein stated that the continued closure of the Strait of Hormuz poses a serious threat to the Iraqi economy, as over 90% of the country's oil exports pass through the strait. He explained that Iraq is facing difficulties in paying salaries if the closure persists, and that the government is compensating by using financial reserves and bonds to fund these payments, but exporting through alternative routes does not completely resolve the issue. He also indicated that Iraq is seeking to increase its oil sales via Turkey and Syria and that it needs support from Gulf and Western countries to confront the crisis.
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