The U.S. has for years been giving Iraq tens of billions of dollars to help with its finances on the specific condition that the country reduces its imports of gas and electricity from Iran eventually to zero. Iran has wielded enormous power over Iraq for a very long time indeed through its various political, economic, and military proxies. Iraq will pay with its own
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A recent barter deal under which Iraq agreed to supply Iran with crude oil and fuel oil in exchange for Iranian gas, points to Iraq's frustration with US sanctions that make it difficult to pay for its gas imports and cause power outages during the scorching summer months. Iran slashed its gas exports to Iraq on Jul. 4, from 45 million cubic meters per day to 20 MMcm/d, cutt
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This paper attempts to analyse the reasons that paved the way for the US administration to take the decision of direct military intervention and change the political regime in Iraq in 2003 and not in 1991, focusing on changing economic interest of the USA in the region which influenced that decision. There is near consensus among Iraqi political analysts that the American in
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Higher oil prices, by softening budget constraints for energy producers in the Middle East and North Africa, may reduce the incentive for major economic reforms. But the region’s oil importers, facing renewed risks to social and political stability from rising costs, must contend with much greater challenges. LONDON – The soaring commodity prices affecting developing countri
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Foreword The World Energy Outlook (WEO) is usually published in November. However, for the second year in a row, the International Energy Agency (IEA) is releasing our flagship report a month early, in October. We did this last year because it was an exceptional year defined by the Covid-19 crisis. This year is another exceptional year because of the COP26 Climate Change Con
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