Posts

Showing posts with the label Kurdistan region of Iraq

Iraq's Kurdish authorities rebuff accusation they are blocking use of oil pipeline

Image
  Iraq's Kurdish ​authorities said on Sunday that Baghdad had failed to address security and economic challenges facing ‌their oil sector, rejecting an accusation that they were refusing to allow crude exports through a regional pipeline. The statement came after Iraq's oil ministry said the Kurdistan Regional Government had refused to let it use a pipeline as an alternative route for crude ​flows disrupted by the  Iran conflict , accusing authorities there of putting in place arbitrary conditions. The oil ministry's comments "distort ​the facts" and ignore the issues affecting the region, including repeated attacks on oil ⁠and gas infrastructure that have forced production offline, the KRG's Ministry of Natural Resources said in a statement. "Outlaw ​militias have made all of the Kurdistan Region's oil, gas and energy fields targets of their attacks," the ministry ​said, adding that Baghdad had taken no effective steps to stop the assaults. ...

KRG Urges Baghdad to Lift Trade Embargo Amid Economic Strains

Image
  Aziz Ahmad, deputy chief of staff to Kurdistan Region Prime Minister Masrour Barzani, on Sunday called on the federal government to lift the trade embargo imposed on the Kurdistan Region, warning that the restrictions have severely disrupted commerce, halted oil exports, and exacerbated economic and security challenges in the region. Ahmed emphasized that the KRG’s position has been consistent: there is only one request — lift the embargo enforced since January 1, which has effectively blocked formal bank transfers for imports. The embargo has forced businesses to rely on informal trade channels, with importers paying premiums of up to 15% on dollars. Commodity and food prices have risen across Iraq, while the KRG’s local non-oil revenues have declined, undermining its capacity to make the monthly salary transfers to public sector employees in the region. The official highlighted that Erbil has repeatedly offered solutions to Baghdad to safeguard national interests and maximize b...

Iraq Faces Growing Crisis Amid Escalating Iran War Conflict

Image
  Iraq Faces Growing Crisis Amid Escalating Iran War Conflict Iraq is increasingly becoming a battleground in the ongoing Iran war, facing strikes from both Iranian and U.S. forces that threaten to spiral the nation into deeper chaos. As the conflict approaches its two-week mark, Iraq’s situation worsens daily, characterized by disruptions to Gulf shipping and numerous attacks on its oil fields and essential infrastructure. This has severely hampered the country’s oil exports, which are vital for Baghdad’s economy—over 90% of government revenue relies on oil trade. Kurdish officials have indicated that should the shutdown of oil exports persist, the Iraqi government could find itself unable to meet its extensive public-sector payroll by next month, raising the specter of widespread unrest. In an effort to mitigate this, the federal government has sought to negotiate with northern Kurdish leaders to resume exports through a pipeline to Turkey. However, these discussions remain stall...

How the Closure of the Strait of Hormuz Could Benefit the Kurdistan Region of Iraq in Oil Markets?

Image
  How the Closure of the Strait of Hormuz Could Benefit the Kurdistan Region of Iraq in Oil Markets The Strait of Hormuz is one of the most strategically important maritime chokepoints in the world. Roughly one-fifth of global oil trade passes through this narrow waterway connecting the Persian Gulf to the Gulf of Oman and the wider global market. Any disruption or closure would immediately shake global energy markets. While such a scenario would create severe global economic risks, it could also open unexpected opportunities for certain producers—particularly the Kurdistan Region of Iraq (KRI). Below are several ways a Hormuz disruption could potentially benefit the KRI’s oil sector. 1. Higher Global Oil Prices If the Strait of Hormuz were blocked, exports from major Gulf producers such as Saudi Arabia , Kuwait , Qatar , and United Arab Emirates could be severely reduced. Markets would likely respond with a dramatic increase in oil prices. For the KRI, which exports c...

Iraqi Militia Missile weapon system worth less than 50 thousand Iraqi dinars ($35) wreaks havoc in Iraq

Image
  Iraqi Militia Missile weapon system worth less than 50 thousand Iraqi dinars ($35) wreaks havoc in Iraq Local social media have reported that the recent militia proxy attack that killed a french soldier in the French-based forces near Erbil is so cheeply produced that one cannot help but to laugh. The weapon missile system is old model derived from the previous Baathi regime and it dates back to 2000s and only costs 35 USD to launch an attack. Iraqi Militias have used this weapon system as an asymetric warfare to threaten and intimidate the Peshmarga forces, US and Coalition forces training local forces. So far they have launched hundreds of these cheap missiles to kurdistan region of Iraq and terrorizing the local people.The militias rely on this cheaply produced weapons system to defy the more superior technologically advanced missile systems like anti-drone system, Cruise, Tomahok and hypersonic missiles lanched by B1, B2 and B52. This is perhaps the reason the war will not en...