Iraq Expands Oil Export Routes Amid Regional Challenges

Iraq's Prime Minister Ali al-Zaidi announced plans to expand oil exports through several regional ports, including Turkey's Ceyhan port and Syria's Baniyas port. The move aims to mitigate the impact of the Strait of Hormuz closure, which poses a 'major challenge' for Iraq's economy.

Zaidi stated that the government is working to increase Iraq's export quota through OPEC and hopes to raise oil exports to between 8 million and 10 million barrels per day within six years. The Prime Minister emphasized the importance of maintaining economic stability in the face of regional challenges.

In a speech at the eighth Baghdad Dialogue conference, Zaidi also addressed domestic security concerns, stating that all political forces agree on restricting weapons to state control. He noted that mechanisms are being developed for the handover of arms to reduce the risk of violence and encourage investment in Iraq.