Iran has plan to ...
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Over the past two weeks, a delegation from the Iranian Parliament’s Economic Committee touched down in Iraq for talks on various economic issues. During these discussions, Iraqi officials made it clear that they are willing to support Iran against US sanctions. They have not forgotten Iran’s key role in driving out terrorist groups and securing their country’s territorial integrity. However, Iraq’s financial sector, particularly its banks, is under Washington’s thumb, facing intense pressure to avoid transactions with Iran.
In light of such challenges, Iran has devised a plan to fend off Trump’s maximum pressure campaign. The country must draw on its experience with US sanctions and ensure that its financial and banking institutions find ways around restrictions to facilitate the movement of assets and currency abroad.
One of the key tools in offsetting economic and banking sanctions is stepping up diplomatic efforts—particularly through informal channels and especially with neighboring states. In this regard, chambers of commerce, the private sector, and non-governmental organizations have a crucial role to play in standing up for Iran’s rights on the international stage and pushing back against unjust US bans.
Iran’s access to its financial assets abroad—funds legally earned through trade and services—is an undeniable right. Yet, Washington is pulling out all the stops to block Tehran from reclaiming these resources.
Given extensive research on Iraq’s economic landscape, there is no doubt that Baghdad is keen to lean heavily on Iran for a significant share of its imports. Iraq, in particular, is struggling to keep up with its electricity demand. While the country produces around 27,000 megawatts, it requires nearly 40,000 MW, leaving it with a massive energy shortfall. Over the years, Iraq has turned to Iran to make up for the gap, and officials there remain adamant about sourcing their gas and power from Tehran.
With this in mind, Iranian authorities must map out a strategy that not only safeguards Iran’s rights but also ensures that friendly neighboring nations can continue their economic and financial transactions with Tehran.