Russia-aligned Iraq has awarded the development of a crucial gas field to a Ukrainian firm. The importance of the Akkas gas field for Russia, Iran, and China can barely be overstated. The Akkas field is one of three big gas sites that form a skewed triangle across southern Iraq. So strategically vital to Russia, Iran, and China is the Akkas gas field i
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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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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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Europe may fear an energy crisis over the coming winter, but for Iraqis an unstable power supply and frequent blackouts have been a reality during decades of war and turmoil. The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on its infrastructure and forced most of its 42 million people to adapt. The noise o
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The rejection of Russia has led the Middle Eastern country to emerge as the main alternative for obtaining the resource Jorge Ortiz Iraq continues to reach record oil sales figures. The country, for the fourth consecutive month, has become the world's main market for the precious resource and is causing the country to improve its economic level. According to the Ministry
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