MP: The Strait of Hormuz is Iraq’s only lifeline, and halting exports would be an economic “catastrophe”.
MP Duha al-Bahadli warned on Tuesday of the dangers of Iraq’s complete reliance on a single sea outlet for its oil exports, stressing that any conflict in the region would make the Iraqi economy the most affected due to the disruption of trade through the Strait of Hormuz.
Al-Bahadli told the Information Agency that “oil exports via the Kirkuk-Ceyhan pipeline cover only 10% of total Iraqi oil exports,” explaining that the vast majority of exports pass through the Strait of Hormuz.
She added that “Iraq is among the countries most affected by the outbreak of any wars in the region due to its complete dependence on oil revenues,” noting that “Iraq’s possession of a single sea outlet overlooking the strait represents a real catastrophe in the event of any military escalation.”
Al-Bahadli pointed out that “any conflict that leads to the disruption of trade in the region will put Iraq in a serious economic predicament,” emphasizing “the necessity of finding real alternatives and multiple export outlets to avoid severe financial shocks.”
Almaalomah.me