U.S. TREASURY REQUESTED IRAQ CLOSE MOST BORDER CROSSINGS WITH IRAN AND KEEP ONLY TWO OPEN, THE IRAQI FOREIGN MINISTER TELLS AL JAZEERA

The Iraqi Foreign Minister told Al Jazeera that the U.S. Treasury requested Iraq close most of its border crossings with Iran, retaining only two open. The report, as framed by the headline, points to a sanctions-enforcement or financial-channel measure rather than a conventional trade restriction, which would matter for flows routed through Iraq into Iran. Transmission would likely run through capital flows and risk premia: tighter cross-border access raises frictions for trade settlement, cash movement, and commodity logistics between the two countries, pressuring Iran-linked exposure and widening country risk spreads in the region. Iraqi assets, regional banks with correspondent ties to Iraq, and oil-linked instruments sensitive to Iraqi export and transit reliability would be the most exposed, with the Iranian rial and Iran-related sovereign and sanctions-sensitive credits most directly affected. Traders should watch for official confirmation from the U.S. Treasury and any Iraqi central bank or customs directive specifying which two crossings remain open and the effective date.

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