Iran "moves to Consolidate Grip on Iraq's Oil Sector"

By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iran Moves To Consolidate Its Grip On Iraq's Oil Sector

Iran has long held enormous political, economic, and military sway over neighbouring Iraq through its various military and political proxies, and since the discovery of vast reservoirs of oil in Iran first in the early 1900s and shortly after in Iraq, Tehran has an added incentive to retain this influence and to enhance it.

With Iran's longstanding former superpower ally, Russia, now looking to build out its remaining influence south of Europe, there is another reason for Iran to strengthen its ties with Iraq.

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