India, Oct. 16 -- Iraq is counting the economic cost of a conflict it says has dealt a heavy blow to its finances, with Foreign Minister Fuad Hussein putting the country's losses at around $60 billion. Speaking during diplomatic discussions in Rome, Hussein warned that the continuing US-Iran war was worsening the global energy crisis and increasing fears of inflation, highlighting how the conflict's impact has spread far beyond the countries directly involved.

Iraq's $60 Billion Loss

According to a statement from Iraq's Foreign Ministry reported by the Iraqi News Agency, Hussein warned that "the continuation of the US-Iranian conflict has caused significant economic losses".

The ministry also cautioned that the ongoing fighting had int...