Report: Iraq planning to ask U.S. for exemptions on Iran sanctions
An Iraqi holds Iranian rials for exchange. Photo: Ahmad Al-Rubaye/AFP/Getty Images
Why it matters: In addition to being a strategic U.S. ally, Iraq imports about $12 billion in oil and $6 billion in goods from Iran, including food and agricultural products crucial to its political stability. The U.S. has said it will offer limited exemptions only for human rights and national security reasons, having previously rejected a joint European request for exemptions in July.