By Patrick Schmidt. After more than twenty-five years without an embassy in Iraq, the Saudi Foreign Ministry has announced that it will reopen its embassy in Baghdad. Saudi officials will travel to the country this week to begin preparations for the construction of the new facility. Saudi Arabia also plans to open a consulate in […]
By John Lee. Iraq and Russia are leading the global surge in oil exports despite a highly competitive market. This has maintained low prices not seen since 2009, with a February settlement for Brent Crude at $56.42 a barrel. Bloomberg reported record export data of 10.6 million barrels a day from Russia and 2.9 million bpd […]
By John Lee. Foreign Minister, Dr. Ibrahim Al Jaafari, stressed that the strategic priorities of the Iraqi diplomacy is to restore Iraqi-Arab relations to normal, calling for intensifying efforts and cooperation to eradicate terrorism, which today constitutes a threat to all countries in the region. These statements came during the official visit carried out by […]
By John Lee. Newly-appointed prime minister Haidar al-Abadi has called for an end to the boycott by a number of governorates of products from neighbouring countries, including Saudi Arabia. He urged those provinces to instead develop their economies through regional cooperation, particularly with neighbouring states. A number of provincial councils, including Baghdad, Basra and Najaf, […]
By John Lee. Al Jazeera reports that Saudi Arabia has unveiled a 900-km multi-layered fence along its border with Iraq. The project, which includes five layers of fencing equipped with watch towers, night-vision cameras and 50 radars is aimed at cutting the "number of infiltrators, drug, arms and cattle smugglers to zero". In 2009, Riyadh […]
By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the occupation of the Iraqi town of Mosul by armed groups, including the Islamic State (IS) and the Baath Party — banned by the Iraqi Constitution — prices of food increased significantly, a result […]
By John Lee. The Provincial Council of Najaf has reportedly decided to boycott Saudi Arabian merchandise because of what it describes as Riyadh's support for sectarian and terrorist groups fighting in Iraq. The Media Director of Najaf's Provincial Council told AIN: "The merchants who will violate this decision will be punished after the period given […]
By Padraig O'Hannelly. Earlier this week, King Abdullah bin Abdulaziz Al Saud pledged $500 million of humanitarian aid from Saudi Arabia to the Iraqi people, to be administered by the United Nations. This could be a very significant move, given that relations between Iraq and its powerful and wealthy neighbour have been strained for many […]
By John Lee. An official source at the Saudi Arabian Ministry of Foreign Affairs has said that King Abdullah bin Abdulaziz Al Saud has ordered $500 million of humanitarian aid for Iraqi people affected by the recent tragic events, including displaced people, regardless of their religious, doctrinal or ethnic affiliations. The United Nations Secretary General […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Fear of getting caught up in violence and difficulty getting visas to Iraq are affecting businesses in Jordan.
By John Lee. Saudi citizens caught traveling to Iraq will face a fine of SR10,000 ($2,700) and a three-year travel ban, according to a report from Arab News. Col. Salman Al-Muhaya, director of the Saudi travel section at the Passport Department, said: “There are exceptional cases where Saudis may be allowed to travel ... based […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Iraqi prime minister has accused Qatar and Saudi Arabia of effectively declaring war on his country. He says they're funding Sunni fighters in Anbar province, an area the Iraqi government is struggling […]
