Iraq eyes Europe as it seeks to diversify oil exports
Iraq eyes Europe as it seeks to diversify oil exports Iraqi Prime Minister Ali al-Zaidi said on Tuesday that he discussed selling oil to Europe during visits to France and Germany, as Baghdad seeks to diversify its export routes and reduce its reliance on the Strait of Hormuz. During a press conference with German Chancellor Friedrich Merz in Berlin, Zaidi said "we want to expand and diversify…
Iraq's Prime Minister Ali Faleh Al-Zaidi has cautioned against the country's dependence on a single oil export route, revealing plans to diversify through Syria amidst regional tensions. The Prime Minister highlighted the severe economic impact on Iraq's oil sales due to ongoing conflicts in the Strait of Hormuz, emphasizing the nation's need to break free from a singular export pathway.
At a press conference alongside German Chancellor Friedrich Merz, Al-Zaidi announced that Iraq intends to export one million barrels of oil through Syria to Europe and the United States, aiming to establish alternative export channels. He firmly stated that Iraq is not inclined towards supporting any aggressive policies in the region, underlining the global ramifications of the ongoing Iran-US crisis.
On domestic matters, Al-Zaidi reaffirmed the Kurdistan region's status as an integral part of Iraq, asserting its entitlement to constitutional and legal rights.
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