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Baghdad Expert Analyzes Hormuz Closure Impact
The Baghdad Center for Legal and Economic Development Workshop discussed the importance of closing the Strait of Hormuz and its impact on the global and Iraqi economies. This is especially relevant given the heavy reliance on oil and the repercussions of shipping disruptions on oil prices, supply chains, and transportation and energy costs. Experts pointed out that disruptions in the Strait could threaten Iraq's oil revenues and exacerbate economic challenges, while exploring ways to address these consequences amid limited economic diversification and dependence on oil exports.
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