According to Kurdistan Press, officials say Iraq has lost at least $40 billion in revenue during the US-Israeli war against Iran.

Al Jazeera wrote: Mazhar Saleh, the Iraqi prime minister’s financial adviser, said that the country has seen a major hit to its revenues since the US-Israeli war against Iran began in February.

“For Iraq, due to a 90 percent drop in its oil exports… in addition to a decline in growth rates… the estimated loss by June 2026 is between $40 and $45 billion,” Saleh said.He added that if the Strait of Hormuz remains closed, the figure could reach $50 billion.

Before the military aggression against Iran began, Iraq produced about 4 million barrels of oil a day, of which about 3.5 million barrels were exported daily, mainly through the Strait of Hormuz.

The blockade of the waterway has disrupted shipping and forced Iraq to reduce its oil production. With the strait closed, Iraq has been able to export only a limited amount of its oil to neighboring countries, Turkey and Syria. Iraqi Oil Minister Bassem Muhammad Khedir said in a television interview on Tuesday that his ministry “used to pay between $7 billion and $8 billion a month” to the government treasury. “Today, this amount does not exceed $1.5 billion,” he added.