Iraq Seeks Safe Passage for Oil Exports Through Hormuz

Baghdad is seeking safe passage for its oil exports through the Strait of Hormuz using Iraqi-flagged tankers. The State Organization for Marketing of Oil (SOMO) has been negotiating with US and German shipping companies to secure this arrangement.

A government source told Shafaq News that the US company rejected Baghdad's requirement to fly the Iraqi flag on its tankers, leaving the two sides without an agreement. However, the German company agreed to the flag requirement while transporting crude from Iraqi ports.

The understanding with Iran would allow Iraqi oil shipments to pass through the strait without transit fees, but Baghdad must also secure US authorization for this arrangement. The source expects Iraq to obtain approval soon, amid US sanctions targeting entities linked to Iranian shipping and insurance mechanisms in Hormuz.