Iraqi Foreign Minister Fouad Hussein revealed that Iraq has suffered approximately $60 billion in economic losses since the outbreak of the war in the Middle East in February. These losses are primarily attributed to a sharp decline in oil exports and disruptions to maritime navigation through the Strait of Hormuz. Hussein disclosed this information during a meeting with his Italian counterpart in Rome on Thursday evening. The conflict has significantly impacted Iraq's revenue streams, heavily reliant on oil sales. Disrupted shipping lanes through the strategically vital Strait of Hormuz further exacerbate the economic challenges facing Iraq. This substantial financial blow underscores the wider regional economic consequences of the ongoing conflict. The situation highlights Iraq’s vulnerability to geopolitical instability affecting global energy markets.