From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. How the Ukraine war creates opportunities, challenges for Iraq Russia and Ukraine are major breadbaskets, accounting for 30% of wheat, 17% of corn, and over half of sunflower seed oil exports worldwide. The […]
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Russian invasion of Ukraine has sharp impact on Iraq's economy Russia's invasion of Ukraine has caused shortages of food in Iraq and forced the government to pay more in […]
By John Lee. A report by the UN's World Food Programme (WFP) has said that the food security situation in Iraq is now being exacerbated by the global impacts of the Ukraine-Russia war. The two countries are the key suppliers of food, energy, and agricultural inputs, globally. Russia and Ukraine jointly are responsible for almost […]
Writing in Oil Price, Simon Watkins says Iraq's West Qurna 2 oilfield, run by Russian oil giant Lukoil, may see a quick increase in production from 400,000 barrels per day (bpd) to well over 600,000 bpd, rising to more than 1 million bpd further out. Click here to read the full article.
By John Lee. Iraqi Prime Minister Mustafa al-Kadhimi has held an emergency meeting on Sunday to discuss food security following the Russian invasion of Ukraine. The meeting included the Ministers of Finance, Foreign Affairs, Planning, Trade, Agriculture, Water Resources, Industry, the Secretary-General of the Council of Ministers, and a number of advisors. As the situation […]
By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Militias support Russian invasion as Iraq refuses to condemn Iraq has aligned with China and Iran in abstaining from a UN General Assembly resolution condemning Russia's invasion of Ukraine. […]
By Ruxandra Iordache for Argus Media. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's State Oil Marketing Organization (SOMO) has received requests for additional crude supply as buyers seek alternatives to Russian volumes, according to a senior Iraqi official. Click here to […]
By Layal Shakir, for Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi central bank suggests halting business, financial dealings with Russia The Central Bank of Iraq (CBI) on Wednesday suggested halting business operations and financial dealings with Russia following America's far-reaching sanctions […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi students stranded in Ukraine Iraqi students are stuck in Ukraine and seem unable to flee due to the Russian invasion of that country. Click here to read the […]
By John Lee. The Iraqi Air Force has resumed tasking its Czech-made L-159 and Russian-made Su-25 strike aircraft again for operations during the quarter. According to a recent report from Combined Joint Task Force-Operation Inherent Resolve (CJTF-OIR), the L-159's combat tasking is notable since it had not been used for operations in nearly 5 years. […]
By John Lee. Iraq has reportedly decided to spend $100 million to buy Bayraktar TB2 drones (UAVs), manufactured by the Turkish company Baykar Defence, rather than Russian MiG-29 fighter jets. More here. (Source: Pravda)
Writing in Oil Price, Simon Watkins points out that the $5.99-per-barrel remuneration that Lukoil will receive under its technical service contract at Block 10 is considerably better than its $1.15/barrel payment at West Qurna 2. Block 10 includes the Eridu field, which has indicated oil reserves of between 7 and 12 billion barrels, and a […]
