BERLIN: As Baghdad looks to diversify its export channels and lessen its need on the Strait of Hormuz, Iraqi Prime Minister Ali al-Zaidi said on Tuesday that he talked about selling oil to Europe during visits to France and Germany.
“We want to expand and diversify our export routes,” Zaidi stated at a news conference in Berlin with German Chancellor Friedrich Merz. In reference to the Strait of Hormuz, which Iran has blockaded during the Middle East conflict, he continued, saying that “Iraq cannot remain hostage to a single corridor” as recent events have shown.
According to Zaidi, he met with French President Emmanuel Macron in Paris on Monday and spoke with Merz about oil exports to Europe. Nearly 90% of Iraq’s income comes from crude oil sales, but the start of the Middle East conflict between Iran and the United States has hurt its exports.
Iraq produced almost four million barrels per day before to the start of the war in February, and it exported an average of 3.4 million bpd, primarily through Hormuz. China and India are its biggest customers, and the majority of its oil exports go to East Asia.
As a result of the disruption, Iraq started exporting petroleum via pipeline to the Turkish port of Ceyhan and tanker trucks via Syria, however both routes can only handle a small portion of its regular sea-bound commerce.
Also Read:
Gaza Humanitarian Crisis: UNICEF Reports 300 Children Killed in 300 Days
Why the US Launched Retaliatory Strikes on Iran: Causes and Consequences
