Iraq's Ambassador to Iran Saad Jawad Qandil told Sputnik on Monday that Baghdad and Tehran were holding negotiations to continue trade cooperation without resorting to the US dollar, adding that Iraq did not consider the US sanctions imposed on Iran compliant with international law
TEHRAN (Pakistan Point News / Sputnik - 13th January, 2020) Iraq's Ambassador to Iran Saad Jawad Qandil told Sputnik on Monday that Baghdad and Tehran were holding negotiations to continue trade cooperation without resorting to the US Dollar, adding that Iraq did not consider the US sanctions imposed on Iran compliant with international law.
"The talks are underway between the two countries to continue the trade cooperation without resorting to the dollar, either in the local Currency or through currency exchange markets, to make relations not to be affected by the US sanctions imposed on Iran," Qandil said.
Iraq has been developing economic ties with Iran, despite the 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 Iraqi-Iranian trade currently amounts to around $12 billion, and the countries' leaders have agreed to increase this level to $20 billion.
