BAGHDAD, Oct. 16 (Xinhua) -- Iraqi Foreign Minister Fuad Hussein said that Iraq had lost about 60 billion U.S. dollars during the recent war between the United States and Iran, according to a statement by the Iraqi Foreign Ministry on Friday.
The ongoing U.S.-Iranian conflict exacerbates the global energy crisis and heightens inflationary concerns, adversely affecting global economies, including Europe, warned Hussein during a meeting in Rome with Italian Deputy Minister and Foreign Minister Antonio Tajani on Thursday.
He called on the European Union and European nations to play an active role in supporting peaceful initiatives, bridging differences, and encouraging conflicting parties to return to the negotiating table to prevent further escalation.
The two sides also discussed prospects for developing security and military cooperation, particularly in light of developments related to the conclusion of the international coalition's mission in Iraq on Sept. 30, according to the statement.
Iraq's economy relies heavily on crude oil exports, which account for about 90 percent of the country's revenues. The country normally exports about 100 million barrels of crude monthly, but volumes have plunged since the United States and Israel launched joint strikes on Iran on Feb. 28, triggering the closure of the Strait of Hormuz, a key global energy artery.
Last month, Iraq's Oil Ministry said that the country's crude oil exports averaged about 2.6 million barrels per day in September. ■
