Iran-Israel war hits wallets: stranded Iraqis pay the price to get home

 Shafaq News/ The ongoing war between Israel and Iran has thrown regional air travel into disarray, stranding thousands of passengers and forcing Iraqis to return home by land—only to face chaos, inflated transport fees, and a lack of government oversight.

Since the escalation began on Friday, Iraq suspended its airspace as a security precaution, leading to widespread flight cancellations and diversions. While southern airspace was later reopened for limited daytime flights through Basra International Airport, many Iraqi travelers—especially pilgrims—remained trapped in Iran, Turkiye, and Lebanon. With air routes disrupted, land crossings became the only option home, but the journey proved anything but smooth.

Returnees arriving at Iraq’s borders encountered soaring transport costs and unregulated conditions. Um Tabarak, a mother of three from Baghdad, said she was shocked after returning from Turkiye when a driver demanded $150 to take her home. “There was no system, no oversight—just exploitation and a complete disregard for our humanity,” she told Shafaq News.

Um Hassan from Karbala noted that she paid $300 for a taxi from Qom to the Mehran border crossing—triple the usual fare. “I had gone for medical treatment, spent everything I had, and barely made it back,” she shared with our agency. “I had no choice.”

Abu Mustafa from Najaf recounted being stuck in Mashhad in Iran after falling victim to a flight scam. “I lost all my money and couldn’t leave until some strangers helped me return.”

The crisis reached Lebanon as well. In Beirut, dozens of stranded Iraqis staged a protest outside the Iraqi embassy, denouncing what they called a failure to organize their return. Eyewitnesses reported to our agency that Lebanese police intervened to defuse tensions, though no injuries were reported. 

Calls for government intervention have grown louder. Struggling Iraqis are urging the Ministry of Transport and the Border Crossings Authority to step in, organize affordable transport, enforce price regulations, and deploy inspection teams to prevent further abuse.

The Ministry of Transport, however, denied any irregularities. It confirmed that land transportation was operating “smoothly” and that necessary services were being provided in coordination with the Authority.

Ahmad al-Moussawi, Director of the General Company for Private Transport, told Shafaq News that he and senior officials are stationed at the Zurbatiyah crossing under direct instructions from Prime Minister Mohammed Shia al-Sudani. “We’re monitoring transport operations, overseeing the return of foreign pilgrims, and penalizing violations of pricing rules,” he said.

Still, al-Moussawi acknowledged that the ministry holds no authority inside Iranian territory or at the Ibrahim al-Khalil crossing, which falls under the Kurdistan Regional Government.

TIDBIT FROM SANDY INGRAM

 Sandy Ingram 

Any perception that Iraq is siding with one party over the other could draw the country into the geopolitical crossfire. 

 In short the Israel-Iran conflict could lead to oil price surges that temporarily boost Iraq's revenues but it may also increase regional insecurity, hesitation in investment and operational risks in Iraq's vital oil sector...

CBI CONTACT: “if the citizens won’t bring the cash into the banks, we will do it for them” #iqd

 

Iraqi expert warns: Hormuz closure would paralyze Gulf

 Shafaq News/ The closure of the Strait of Hormuz would bring the Gulf region to a standstill and throw global energy markets into chaos, Iraqi economist Hilal al-Taan warned on Tuesday. 

Al-Taan explained to Shafaq News that any move to shut the strait would restrict maritime traffic, halt oil exports, and raise shipping and insurance costs. “It would paralyze the Gulf and impact the entire world,” he cautioned, noting that major ports like Jebel Ali in the UAE would be directly affected.

He stressed that oil-dependent economies like  Iraq, Kuwait, and Bahrain would suffer severe financial consequences, as the shipping lane is a vital artery for their exports. 

The Strait of Hormuz, a narrow waterway between Iran and Oman, is one of the world’s most critical energy chokepoints. Roughly 18 to 19 million barrels of oil, condensates, and fuel—about one-fifth of global consumption—pass through it daily, along with nearly 11 billion cubic feet of liquefied natural gas.

The warning follows statements by Iranian lawmaker Brigadier General Esmail Kowsari, who confirmed that Tehran is seriously considering closing the maritime corridor in response to Israeli airstrikes. “We are studying the matter carefully and will act decisively if necessary.”

EXCERPTS FROM MARKZ: We have seen some interesting pairings that point towards a much increased value

 EXCERPTS FROM MARKZ: We have seen some interesting pairings that point towards a much increased value

Member: Mark do you think bonds going quiet right before the Iran situation is a coincidence??

MZ: Right now everything has gone quiet so I believe its coming from the Treasury level….or the Sovereign level…….They could have gone quiet for 2-3 reasons. The most likely reason is to cloud the timing….or because we are close. 

Member: anything on CMKX?

MZ: Nothing new yet….but not for lack of trying. 

Member: Rumor has it that Iraqi dinar is at 6.24 on coinbase? do you concur ? thanks!

MZ: I do not concur. But we have seen some interesting pairings that point towards a much increased value. But we can’t do anything with it yet. We will keep watching it. 

GINGER: I've been told that the last 58 of these trigger platforms are currently in "finishing mode"

 

Iraq faces growing economic strain due to Israel-Iran conflict

 Shafaq News/ Iraq’s economy is already showing signs of strain as the Israel-Iran conflict enters its sixth day, despite the country’s non-involvement in the fighting, a leading economic expert told Shafaq News on Wednesday.

Dr. Nawar al-Saadi, a professor of international economics, told Shafaq News that Iraq’s geographic location, heavy reliance on oil, and integration into a sensitive regional network leave it vulnerable to the fallout of the escalating hostilities.

“So far, we’re seeing three immediate economic consequences,” al-Saadi explained. “First, the Iraqi dinar is weakening as the dollar exchange rate rises. This reflects fears that the conflict could spread, affecting oil exports or state revenues, which in turn fuels inflation through higher import costs.”

The second impact, he said, is market stagnation. “Uncertainty is freezing investment and commercial activity. Wars interrupt economic planning and scare off capital, especially when Iraq is seen as part of a high-risk geopolitical zone.”

According to al-Saadi, the increase in food prices is another impact, “Concerns over supply chain disruptions have already prompted speculative behavior and hoarding among traders. This poses a direct threat to Iraq’s food security, which is already fragile due to high import dependence.”

The professor warned that if the conflict intensifies or persists, the consequences could become “far more severe.”

“Iraq’s oil exports rely almost entirely on the Gulf, particularly the Strait of Hormuz. If that route is disrupted, even briefly, Iraq could lose billions in revenue and plunge into a financial crisis its oil-dependent budget cannot withstand.”

Al-Saadi also highlighted the risk of domestic instability, pointing out that the longer the war drags on, the greater the chance that regional power struggles will spill into Iraq. “If foreign interests or US assets are targeted, or southern cities become flashpoints, it could erode what’s left of Iraq’s economic stability.”