“To make relations not affected by US sanctions imposed on Iran, talks are underway to use local currencies,” Qandil said.
Iraq has been developing economic ties with Iran, despite US sanctions imposed on Tehran, in response to its attacks on the US military bases in Iraq on January 8, the ambassador added.
“Iraq is not part of the US sanctions regime against Iran and does not recognize its legitimacy. These sanctions do not have any legal cover at the level of international law,” the Iraqi ambassador said.
According to Qandil, the annual Iraqi-Iranian trade currently amounts to around $12 billion, and the countries’ leaders have agreed to increase this level to $20 billion.