Iran-Iraq Joint Chamber of Commerce warns of rising trade risks
Summary
Iran's foreign trade is experiencing increasing financial costs and risks due to tighter banking checks and anti-money-laundering requirements, according to Jahangbakhsh Sanjabi Shirazi, head of the Iran-Iraq Joint Chamber of Commerce. He warned that while trade may not completely stop, Iran could gradually lose its market share in Iraq as transactions become more expensive and high-risk. This situation is exacerbated by Iraqi banks implementing new supervisory practices to combat money laundering and by US-led initiatives aimed at tightening controls on dollar transactions to limit support for sanctioned Iranian entities.
Analysis
Jahangbakhsh Sanjabi Shirazi: Jahangbakhsh Sanjabi Shirazi serves as secretary general of the Iran-Iraq Joint Chamber of Commerce, a role focused on advancing bilateral economic cooperation. He has longstanding involvement in Iran-Iraq trade matters through the chamber. In the current context, he warned that banks' stricter anti-money laundering checks pose a gradual threat to Iran's market position in Iraq rather than an outright halt in trade. Iran-Iraq Joint Chamber of Commerce: The Iran-Iraq Joint Chamber of Commerce is a bilateral business organization dedicated to fostering economic ties and facilitating trade between Iran and Iraq. It represents private sector interests and supports cross-border commercial activities between the two nations. Its leadership recently highlighted how intensified banking scrutiny is raising costs and risks for Iranian exporters targeting the Iraqi market. Banking Reforms: Iraqi banks are implementing enhanced supervisory practices and transaction disclosure requirements in coordination with international standards to address money laundering concerns. Trade Mechanisms: Iraqi customs authorities have introduced new pre-declaration and verification procedures for import-related financial transfers to strengthen compliance. Geopolitical Pressures: US-led efforts are prompting tighter controls on dollar transactions in Iraq to curb flows benefiting sanctioned Iranian entities.
Categories
macropolitics
Related sources
- https://www.agbi.com/analysis/banking-finance/2026/08/reforms-spur-iraqi-banks-to-lend-more-and-trade-currency-less/
- https://en.wikipedia.org/wiki/Alireza_Jahanbakhsh
- https://www.b360nepal.com/targeting-iran-us-tightens-iraqs-dollar-flow-causing-pain
- https://ir-iqcc.com/?p=13682
- https://shafaq.com/en/Economy/Iran-exports-453-million-via-Iraq-border-crossing
- https://en.irangate.news/behind-the-scenes-chamber-commerce-elections/
- https://mdeast.news/ar/2026/09/26/%D9%85%D9%86-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%88%D8%AF%D9%8A%D8%A9-%D8%A5%D9%84%D9%89-%D8%AD%D9%82%D9%84-%D8%A3%D9%84%D8%BA%D8%A7%D9%85-%D8%B1%D9%82%D8%A7/
- https://themedialine.org/top-stories/iraqs-shadow-trade-gives-iran-a-lifeline/
- https://www.usnews.com/news/top-news/articles/2026-08-25/analysis-iraq-may-show-how-u-s-can-squeeze-irans-trade-partners
- https://www.aljazeera.com/news/2026/9/26/iran-war-squeezes-iraqs-economy-as-oil-revenues-fall-and-prices-rise
- https://donya-e-eqtesad.com/%D8%A8%D8%AE%D8%B4-%D9%88%DB%8C%DA%98%D9%87-%D9%86%D8%A7%D9%85%D9%87-63/3279333-ran-raq-greements-and-tandard-ooperation-ill-ake-ffect-oon
- https://www.alarabiya.net/aswaq/economy/2026/09/27/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%AD%D8%AF%D8%AF-%D8%A7%D9%84%D9%8A%D8%A9-%D8%B9%D9%85%D9%84-%D8%A7%D9%84%D8%AA%D8%AD%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%A8%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D8%A8%D8%B6%D8%A7%D8%A6%D8%B9
- https://www.sotaliraq.com/2026/09/19/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82-%d9%8a%d8%af%d9%81%d8%b9-%d8%ab%d9%85%d9%86-%d8%ad%d8%b5%d8%a7%d8%b1-%d8%a5%d9%8a%d8%b1%d8%a7%d9%86-%d8%a7%d9%84%d8%b9%d9%82%d9%88%d8%a8%d8%a7%d8%aa-%d8%a7%d9%84/
- https://home.treasury.gov/news/press-releases/sb0617
- https://en.irangate.news/privatesectorparliamentsurroundedbygovernmentofficials/