Iran’s foreign minister said Tehran will continue to expand bilateral ties with Baghdad’s new government.

Iraq and Iran foreign ministers met in Baghdad. Iraq said the visit was significant and that Baghdad has facilitated US–Iran communications; ministers discussed bilateral ties and a US–Iran memorandum of understanding. Iraq urged reopening the Strait of Hormuz and lifting maritime blockades, saying wartime actions and a closed strait have harmed Iraq’s economy and disrupted Iraqi oil supplies. Iraq said it does not support escalation or aggression against Iran, warned continued conflict would devastate the region, and called for regional self‑protection.

ECB executive board member Schnabel expects further rate hikes.