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By John Lee. During a visit to Basra, the Iranian Transport Minister, Abbas Akhwandi, has signed a Memorandum of Understanding (MoU) with the Governor of Basra, Majid al-Nasrawi, to lift sunken ships in the Shaat al-Arab waterway. According to a report from AIN, the two also laid the corner stone for a railway project linking […]
By John Lee. The managing director of the National Iranian Gas Company (NIGC) has said it is possible for Iran to export natural gas to Kuwait through Iraq. Hamid Reza Araqi was quoted as saying that the pipeline which is being built to export gas to Iraq could be used for this purpose also. Iran […]
By John Lee. Iraq's Transport Minister has said that companies from the UAE, Iran, Turkey and China have offered to invest $7.4 billion dollars (8.6 trillion Iraqi dinars) for the development of the Grand Faw (Grand Fao) port project. Baqir Al Zubeidi told al-Forat news agency that the investment would cover the construction of quays […]
Iraqi army and militia forces are fighting to take back Tikrit from the so-called Islamic State. Pulling the strings on the Iraqi side is an Iranian: Major-General Qassem Suleimani, the 'shadow commander' who has been described as the single most powerful operative in the Middle East. As the leader of the foreign branch of Iran's […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. While the United States has invested trillions of dollars and thousands of lives since 2003 to bring Iraq into its orbit, today it is Iran that appears to have achieved that […]
By Patrick Schmidt. Iran already holds a growing position of influence in Iraq and this position has grown once again. The Iranian government has dispatched a number of advanced missile and rocket systems to Iraq to aid the in the fight against the Islamic State (IS, ISIS, ISIL). The systems seem to be Fajr-5 rockets […]
By John Lee. Iran’s PressTV said on Saturday that Iraq has started a new round of talks with Iran and Kuwait over the development of oil wells that are shared between the three countries. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) said that this is consistent with Iraq’s policy of expanding its crude […]
By John Lee. India's oil imports from Iraq have seen a sharp increase in January, according to Platts, climbing 56 percent to 2.48 million mt. Eklavya Gupte, associate editor, Europe and Africa crude oil, at Platts said: “Indian refiners are importing Iraqi Basrah light crude oil to compensate for the drop in imports from Iran […]
Iran's increasing influence on Iraq is very obvious, commercially, politically and militarily, but did the Saudi Arabian Foreign Minister go too far in claiming that "Iran is Taking Over Iraq"? The claim has been rejected by Iraq's Foreign Minister, who also pointed to his country's improving relations with Saudi Arabia. But what do, our readers, […]
By Patrick Schmidt. During a meeting of the Gulf Cooperation Council (GCC), member states expressed their dissatisfaction with the influence Iran has had in Iraq since the rise of the Islamic State (IS). The GCC announced they supported a united Iraq, recognized its territorial sovereignty and condemned interference in Iraqi internal affairs. Iran’s influence has […]
By John Lee. The Saudi Foreign Minister, Saud al-Faisal (pictured), has told reporters in Riyadh that “Iran is taking over Iraq.” The comments were made during a joint press conference with US Secretary of State John Kerry, in which Kerry said the United States was keeping an eye on Iran's 'destabilizing' acts, adding that his country […]
By John Lee. The Managing Director of the National Iranian Gas Exports Company has said that Iran is ready to sign an agreement with Iraq to supply Basra with 5 million cubic meters (mcm) of natural gas per day in next Iranian calendar year. Alireza Kameli (pictured) said Iran will start export one year after […]
