Iraq Economic News And Points To Ponder Saturday Afternoon 4-4-26
Iraq Loses 3,500 MW As Iran Gas Supplies Drop
2026-04-04 Shafaq News- Baghdad A sharp drop in Iranian gas supplies has cut Iraq’s electricity generation by about 3,500 megawatts, the Electricity Ministry said on Saturday, attributing the decline to the ongoing US-Israeli war on Iran.
Ministry spokesperson Ahmed Moussa told Shafaq News that imports have fallen to around five million cubic meters per day —down from 19 million previously— while Iraq typically needs about 30 million cubic meters daily, making the current supply “very low.”
The decline follows a complete halt in Iranian gas exports in March, which knocked more than 3,000 megawatts offline after reported Israeli strikes targeted facilities linked to Iran’s South Pars gas field —part of the world’s largest offshore reserve shared with Qatar— and energy infrastructure in Asaluyeh. Limited flows later resumed, helping stabilize production at around 14,000 megawatts.
Iraq continues to face chronic electricity shortages despite its oil wealth, with demand typically reaching 50,000–55,000 megawatts during peak summer months, compared to current production of about 27,000–28,000 megawatts. Iranian gas covers roughly 40% of the country’s fuel needs and supports nearly one-third of its electricity generation.
https://www.shafaq.com/en/Economy/Iraq-loses-3-500-MW-as-Iran-gas-supplies-drop
Read more: Energy war nears Iraq: Oil infrastructure faces rising threat
Iraq Imports $350M+ In US Agricultural Goods In 2025
2026-04-04 Shafaq News- Baghdad/ Washington US agricultural exports to Iraq totaled $357 million in 2025, according to data released by the US Department of Agriculture.
Combined agricultural and livestock exports reached $375.04 million. Over the past three years, average annual exports stood at $330.12 million, reflecting a compound annual growth rate of 10.7% between 2016 and 2025.
Exports to Iraq included a wide range of products, notably rice, soybeans, meat, poultry, nuts, spices, sauces, baked goods, as well as processed foods and dairy products.
https://www.shafaq.com/en/Economy/Iraq-imports-350M-in-US-agricultural-goods-in-2025
Dollar Drops In Baghdad, Rises In Erbil
2026-04-04 Shafaq News- Baghdad/ Erbil The US dollar closed Saturday’s trading mixed in Iraq, hovering around 154,500 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,600 dinars per 100 dollars, down from the morning session’s 154,750 dinars.
In the Iraqi capital, exchange shops sold the dollar at 155,000 dinars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,750 dinars and buying prices at 154,650 dinars.
https://www.shafaq.com/en/Economy/Dollar-drops-in-Baghdad-rises-in-Erbil-6
Dollar Edges Higher In Baghdad And Erbil
2026-04- Shafaq News- Baghdad/ Erbil The US dollar opened Saturday’s trading higher in Iraq, nearing 155,000 dinars per 100 dollars, according to a survey by Shafaq News Agency.
The dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,750 dinars per 100 dollars, up from 154,400 dinars recorded last Thursday.
In the Iraqi capital, exchange shops sold the dollar at 155,250 dinars and bought it at 154,250 dinars, while in Erbil, selling prices stood at 154,550 dinars per 100 dollars and buying prices at 154,400 dinars.
https://www.shafaq.com/en/Economy/Dollar-edges-higher-in-Baghdad-and-Erbil-6
Gold Prices Rise In Baghdad And Erbil Markets
2026-04-04 Shafaq News- Baghdad/ Erbil On Saturday, gold prices hovered around 1.02 million IQD per mithqal in Baghdad and Erbil markets, continuing their upward trend, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1,018,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1,014,000 IQD. The same gold had sold for 1,005,000 IQD on Thursday.
The selling price for 21-carat Iraqi gold stood at 988,000 IQD, with a buying price of 984,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1,020,000 and 1,030,000 IQD, while Iraqi gold sold for between 990,000 and 1,000,000 IQD.
In Erbil, 22-carat gold was sold at 1,075,000 IQD per mithqal, 21-carat gold at 1,027,000 IQD, and 18-carat gold at 880,000 IQD.https://www.shafaq.com/en/Economy/Gold-prices-rise-in-Baghdad-and-Erbil-markets-0
Iran Spares Iraq From Strait Of Hormuz Blockade
2026-04-04 Shafaq News- Tehran Iran’s Khatam Al-Anbiya, the unified command of the country’s military forces, on Saturday excluded Iraq from restrictions linked to the Strait of Hormuz, underlining the “close ties” between the two neighbors.
In a statement, spokesperson Ebrahim Zolfaghari clarified that the closure policy targets only Iran’s “adversarial states,” pointing to Tehran’s respect for Iraqi sovereignty. He also underscored shared public sentiment between the two countries, noting that the Iranian people were not isolated while referencing supportive positions from Baghdad.
Earlier today, US President Donald Trump gave Iran 48 hours to reopen the Strait of Hormuz or reach an agreement, warning that “all Hell will reign down” if Tehran fails to comply. He has repeatedly threatened strikes on Iranian infrastructure, including power plants, if shipping through the strait —one of the world’s most vital oil routes— remains disrupted.
Iran’s Supreme Leader Mojtaba Khamenei previously urged armed forces to continue operations linked to the “Strait of Hormuz closure front,” framing the move as part of Iran’s response to the ongoing US-Israeli war. He also expressed appreciation for Iraqis’ support of Iran during the current conflict.https://www.shafaq.com/en/Middle-East/Iran-spares-Iraq-from-Strait-of-Hormuz-blockade
Washington Strips Iran’s Soleimani Relatives Of Permanent Residency
2026-04-04 Shafaq News- Washington The United States revoked the residency of two relatives of late Iranian commander Qassem Soleimani, the US State Department reported on Saturday, citing political and security concerns.
Soleimani, the former commander of the Islamic Revolutionary Guard Corps’ (IRGC) Quds Force, was killed alongside Popular Mobilization Forces (PMF) deputy chief Abu Mahdi Al-Muhandis in a US airstrike near Baghdad International Airport in January 2020.
In a post on X, Secretary of State Marco Rubio wrote that Hamideh Soleimani Afshar and her daughter had been living in the United States on green cards before federal agents took them into custody and placed them in deportation proceedings.
Describing Afshar as a relative of Soleimani, he portrayed her as a supporter of Iran’s government, which has reportedly backed attacks against US personnel while referring to Washington as the “Great Satan.”
Secretary Marco Rubio : Until recently, Hamideh Soleimani Afshar and her daughter were green card holders living lavishly in the United States. Afshar is the niece of deceased Iranian Major General Qasem Soleimani. She is also an outspoken supporter of the Iranian regime who celebrated attacks on Americans and referred to our country as the "Great Satan." This week, I terminated both Afshar and her daughter's legal status and they are now in ICE custody, pending removal from the United States. The Trump Administration will not allow our country to become a home for foreign nationals who support anti-American terrorist regimes. LINK
In a later statement, the US State Department confirmed the deportation, noting that Rubio also revoked the permanent residency of Ali Larijani’s daughter, the former secretary of the Iranian Supreme National Security Council, who was recently killed in an Israeli strike in Tehran.