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Al-Zaidi: Iraq seeks Europe for oil exports
Iraqi Prime Minister Ali Al-Zaydi announced that he is working on expanding and diversifying oil exports to Europe, with the aim of reducing reliance on the Strait of Hormuz, which was closed by Iran during the Middle East war. Al-Zaydi discussed with German Chancellor Friedrich Mertes and French President Emmanuel Macron the increase of oil exports, with expectations of boosting production to ten million barrels per day, much of which could be exported to Europe and the Americas. These steps come amid challenges to exports caused by the closure of the strait, as Iraq heavily depends on oil exports that are currently heading mainly to Asia, particularly China and India. Iraq is counting on cooperation with Germany to provide technology and equipment. Al-Zaydi also indicated that negotiations are ongoing in this regard, aiming to strengthen Iraq's position in the energy markets and to reduce the impact of regional tensions on its economy.
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