By John Lee. According to Reuters, two tankers entered the Persian Gulf on Wednesday en route to Iraq: The Alicia, capable of carrying 2 million barrels of oil, is reportedly heading to Iraq to load a cargo on Thursday; The Malta-flagged Agios Fanourios I is said to be heading to Iraq to load Basra crude […]
By John Lee. According to a statement today (Wednesday) from Iraq's Ministry of Trade, the reopening of the Strait of Hormuz has led to a gradual recovery in maritime traffic, although activity remains below normal levels amid continued geopolitical uncertainty. It says early signs of improvement have been observed in trade flows, particularly in energy […]
By John Lee. The North Oil Company (NOC) has reportedly received the first shipment of crude oil from Basra at its K1 station in Kirkuk, following rehabilitation works and an increase in operational capacity. The delivery marks the start of crude transfers by tanker trucks from southern Iraq to the north, with unloading operations beginning immediately […]
By John Lee. In a significant development, Iraq has confirmed cooperation with Iran to allow the passage of Iraqi oil through the Strait of Hormuz, following high-level discussions in Baghdad on Sunday. Iraq's Minister of Foreign Affairs, Fuad Hussein, expressed his appreciation for allowing tankers carrying Iraqi oil to pass through the Strait, noting the […]
By Alisha Chhangani, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Inside Tehran's toll booth There is a lot of attention right now on how Iran is managing access to the Strait of Hormuz -- operating a kind of […]
By John Lee. The United Nations Development Programme (UNDP) has warned that recent regional military escalation is creating economic and fiscal risks for Iraq, particularly through disruptions to trade, air transport, and oil revenues. According to the report, Iraq's early airspace closures disrupted air cargo routes, delaying shipments of high-value goods and reconstruction materials. This has […]
By John Lee. The Iraqi Ministry of Transport has reported continued arrivals of cargo vessels at Iraqi ports during March, reflecting ongoing maritime trade activity despite regional tensions. According to the ministry, maritime agencies of the State Company for Maritime Transport (SCMT) have continued to provide services to incoming vessels, while cargo handling operations are […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq pivots north as Strait of Hormuz closure forces rethink on oil flows Iraqi authorities are scrambling to contain a looming financial crisis as the Israeli-US war on Iran shows few signs of […]
By John Lee. Iran has reportedly begun charging up to $2 million per ship for safe passage through the Strait of Hormuz. The payments, according to the report from Deutsche Welle, would be a breach of international maritime law. This follows a recent statement from Iran's Ministry of Foreign Affairs, denying that the Strait is […]
By Michael Eisenstadt and Assaf Orion, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Military Options for Reopening the Strait of Hormuz: Limitations and Imperatives Loosening Tehran's grip on the strait and its disruption of the […]
By John Lee. Conflicting tracking data has raised uncertainty over the movements of the Omega Trader, an oil supertanker carrying Iraqi crude, amid ongoing disruption to shipping routes near the Strait of Hormuz. Ship-tracking data in recent days reportedly indicated the tanker had arrived near Mumbai, while its manager, Mitsui OSK Lines Ltd, said the […]
Joint statement from the leaders of the United Kingdom, France, Germany, Italy, the Netherlands, Japan and Canada on the Strait of Hormuz: 19 March 2026 19 March 2026 We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and […]
