Iraq joins oil-producing countries opposing “green fuel” regulations.

The Iraqi government announced on Thursday that it has joined the countries opposing the new “green fuel” regulation proposed by the International Maritime Organization.

Iraq has joined Bahrain, Iran, Kuwait, Saudi Arabia, the UAE, Venezuela, and Yemen in opposing the new “green fuel” regulation being developed by the International Maritime Organization, arguing that its current implementation would impose unjustified financial burdens on the shipping sector.

The eight countries submitted a joint memorandum last July, calling on member states to reconsider adopting the regulation, citing “ambiguity and gaps” in the proposed procedures, making it premature to proceed with implementation.

The new rules, scheduled for a final vote in October, aim to reduce greenhouse gas emissions from ships by 4% below 2008 levels by 2028, reaching 30% by 2035, with fines imposed on companies that fail to comply.

Iraq and its allies believe these regulations could raise marine fuel costs and increase pressure on the shipping sector, at a time when the availability of low-carbon fuels is expected to remain limited in the near term.

Shafaq.com