| Highlights from yesterday |
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Hormuz closure forces Iraq to diversify crude export routes
The Iraqi government has approved a mechanism to export crude oil through specialized international and local companies using various export outlets.
A statement issued by the cabinet and carried by the state-run Iraqi News Agency explained that contracts signed under the new mechanism will remain valid for a three-month period starting from September 1.
Iraq is seeking to diversify its oil export channels and maintain flexibility in marketing crude amid the US war on Iran and the closure of the Strait of Hormuz, which has disrupted regional energy flows and created widespread uncertainty over shipping routes.
Baghdad has been working to develop alternative export routes alongside its southern terminals, including pipeline routes through Turkiye and Syria in an effort to reduce its reliance on shipping lanes through the Gulf.
Iraq is the second-largest crude producer in the Organization of the Petroleum Exporting Countries (OPEC) and relies heavily on energy exports to generate state revenues.
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Ghalibaf says Iraq trip intended to strengthen ‘new regional order’
Iranian Parliament Speaker and top negotiator Mohammad Bagher Ghalibaf says his visit to Iraq is intended to strengthen what he called a “new regional order” without foreign interference.
Speaking at the site where former General Qassem Soleimani was killed, Ghalibaf said: “Today’s visit to Iraq is aimed at strengthening the new order in the region and accelerating mutual cooperation among all countries of the region, without the intervention of foreign powers.”
He added that Islamic countries in the region should seek to establish “deep security interactions and ties” supported by sustainable economic cooperation.
“The Islamic Republic of Iran declares its full readiness to realise this regional model,” he added.
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Iraq asks Iran for special treatment on oil exports through Hormuz
Iraqi Parliament Speaker Haibat al-Halbousi has called on his Iranian counterpart, Mohammad Bagher Ghalibaf, to grant Iraq special consideration over oil exports through the Strait of Hormuz, according to the Iraqi News Agency.
Al-Halbousi said Iraq has been among the countries most affected by regional developments and urged Tehran to take into account the nature of bilateral relations “in a way that preserves Iraq’s economic interests”.
Ghalibaf said Iran was eager to expand cooperation with Iraq, particularly in trade and economic sectors, and to follow up on agreements already signed between the two countries.
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Iraqi PM praises Iran’s ‘supportive stance’ during Ghalibaf visit
Iraqi Prime Minister Ali al-Zaidi has praised Iran’s “supportive stance” towards Iraq, particularly its support during its war against ISIL (ISIS) 10 years ago, according to Iran’s state-run news agency.
Al-Zaidi made the comments to visiting Iranian parliamentary speaker Mohammad Bagher Ghalibaf, who began an official three-day visit to Iraq today.
The two discussed prospects for cooperation and joint action, as well as ways to strengthen and enhance bilateral relations in various fields.
Ghalibaf praised the Iraqi government’s efforts to further develop bilateral relations and expand cooperation to achieve the shared interests of the Iraqi and Iranian peoples.
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