Iraq's President Barham Salih walks with Iranian President Hassan Rouhani during a welcome ceremony at Salam Palace in Baghdad, Iraq, March 11, 2019.
But why does a decades-old agreement matter for Iraq and especially for Iran, and what does this rapprochement mean for regional and global dynamics?Iranian leader Mohammad Reza Shah Pahlavi and Iraq’s then vice president Saddam Hussein signed the Algiers Agreement on March 6, 1975, focusing mainly on two key issues: demarcation of land and river boundaries, and the exercise of strict border control.
Iran has been trying to expand commercial ties with Iraq further as its economy has been hit hard by US President Donald Trump’s decision last May to pull out the 2015 nuclear deal between Iran and six major powers. Other signatories to the deal in Europe have been trying to salvage the pact, but US sanctions have mostly scared off European companies from doing business with Iran.Iran has itself threatened to pull out of the agreement unless EU powers demonstrably protect its economic benefits.
Iraq, which relies on Iranian gas imports to feed its power grid has asked for extensions to a US waiver to continue importing Iranian gas and will be gaining privileges for Iraqi companies investing in Iran. Increasing Iranian presence and influence in Iraq may alarm Washington.
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