On July 3, Saudi Arabia and the United Arab Emirates reached an agreement with Iraq to invest $3 billion each in the country, signaling an expansion of investments by the Gulf states at a time when Iraq continues to seek financing for postwar reconstruction and development of its infrastructure. Iraqi Prime Minister Mohammed Shia Al Sudani said in June that, having “regained it
Read MoreA 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
Read MoreIraq’s economy is overwhelmingly dominated by the oil sector. According to the World Bank, over the last decade oil revenues have accounted for more than 99% of exports, 85% of the government’s budget, and 42% of GDP. Despite the strong rebound of the economy after the pandemic thanks largely to high oil prices and increased export volumes that last year drove oil revenues
Read MoreIf one looks back on the U.S.-led military intervention in Afghanistan in 2001, and the invasion of Iraq in 2003, the U.S. can claim many tactical successes in fighting terrorism and violent opposition movements. It also “won” one of its wars. While the U.S. was ultimately defeated in Afghanistan, it did win a kind of victory in its two wars in Iraq: first against hardline Sunn
Read MoreIraqi Prime Minister Muhammad Shia’ Al-Sudani has paid his first official visit to Turkey since taking office last October, holding important talks with President Recep Tayyip Erdogan. The Mar. 21-22 trip to Ankara saw focus on boosting economic cooperation, including a push to advance a new major transit project. But no permanent solution on issues such as transboundary waters
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