Shafaq News/ Iraq has avoided immediate economic fallout from rising India-Pakistan tensions, backed by secure food reserves and a broad trade network, officials said.

Omar Nadhir, Director of the Center for Commercial and Economic Studies at the Ministry of Trade, told Shafaq News that the ministry held an emergency roundtable to assess the potential political and economic consequences of the conflict.

“Iraq’s risk-averse foreign policy and broad commercial partnerships offer flexibility in responding to international disruptions.”

India imported approximately $30 billion worth of Iraqi oil in 2024, making it the country’s second-largest buyer after China.

However, a confrontation between New Delhi and Islamabad could trigger volatility in global oil prices, Nadhir cautioned.

Nadhir also urged the government to prepare contingency plans for Iraqi nationals in India and Pakistan, particularly those undergoing medical treatment or pursuing education, in case of further escalation or the use of non-conventional weapons.

Meanwhile, the Ministry of Trade plans to hold a national forum, chaired by the Minister and attended by economic and policy experts, to examine Iraq’s exposure to global crises and strengthen national food security strategies.