US asks Iraq to shut most Iran border crossings, Iraqi foreign minister says

The Iraqi foreign minister reported that Washington has asked Baghdad to close most of its border crossings with Iran, a request that, as stated in the headline, has not been detailed beyond the minister's account. The transmission mechanism runs through trade and energy flows: Iraq is a significant conduit for Iranian goods, fuel and cross-border commerce, so restricting crossings raises the risk of supply disruption and tighter sanctions enforcement across the region. Iranian assets and the Iranian rial would be the most directly exposed, given the potential loss of a major trade outlet and heightened pressure on capital flows, while Iraqi dinar-denominated instruments and regional oil-linked markets could see knock-on effects through logistics and risk-premium repricing. Traders should watch for official confirmation or denial from Washington and Baghdad, and for any subsequent customs or central bank notices on border trade volumes, which would indicate how far the restrictions extend in practice.

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