Short-range Iranian missiles, reportedly including ballistic missiles, have been shipped into Iraq, where they are within reach of US military installations. Fears that Iran, its economy, and especially its currency, hurting badly from US sanctions,will take some sort of military action in the Middle East is more than sufficient cause to raise Country Risk for Iraq.
The apparent end of major hostilities with ISIS has stimulated international trade, but this new development could threaten the repayment of debt owed to international trading partners and banks abroad, as any military action would have a serious effect on commercial transactions. It is important to remember that Israel has begun attacking Iranian military facilities recently, and any action against US bases or camps, or allies of America in the region, would certainly result in American counter-strikes.
Therefore, unless and until Iran removes its missiles from Iraq, Country Risk assessments must remain elevated for that country.Compliance officers who are responsible for calculating Country Risk please govern yourselves accordingly.