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2026 Iran-Gulf Crisis Tracker
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economicSep 26, 2026

Iran war squeezes Iraq’s economy as oil revenues fall and prices rise

Summary

Disrupted oil exports, costlier imports, and a weaker dinar expose Iraq's economic dependence on oil, foreign goods.

Actors involved

Iran

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economicUnverifiedUNRussia
○ 1 source

According to Russian Security Council Deputy Secretary Alexey Shevtsov, the situation has led to an economic downturn characterized by a shift from stagnation to recession. He further reported associated declines in industrial output and employment figures, though independent verification of these specific metrics is not provided in the summary.

Location: Germany