Iraq’s Prime Minister Haider al-Abadi has spoken out against US sanctions on Iran, but adds that his country plans to abide by them to protect its own interests.

Speaking on 7 August he said: “As a matter of principle we are against sanctions in the region. Blockade and sanctions destroy societies and do not weaken regimes.”

He added: “We consider them [sanctions on Iran] a strategic mistake and incorrect but we will abide by them to protect the interests of our people. We will not interact with them or support them but we will abide by them.” 

His comments come in the wake of a strong warning from US President Donald Trump, who posted a statement on social media saying: "Anyone doing business with Iran will NOT be doing business with the United States". 

Some re-imposed sanctions took effect on Tuesday, and sanctions relating to oil exports will begin in November. 

Iranian oil exports fell to their lowest in four months in July, according to S&P Global Platts estimates. 

Total estimated export volumes on Aframaxes, Suezmaxes and VLCCs from Iranian ports in July fell by 7 per cent to 2.32 million barrels a day (b/d) from 2.49 million b/d in June.

The decline has been blamed on key buyers finding new suppliers ahead of the return of the oil sanctions in November. Flows from Iran to China and India remained high, but exports to South Korea and Europe fell.

Total monthly crude exports from Iran have declined for three months in a row.