MP: Iran allowing Iraq to export oil enhances chances of overcoming the financial crisis
MP Hamid Mohammed, from the National Approach bloc, affirmed on Tuesday that Iran’s permission for Iraq to export oil through the Strait of Hormuz would alleviate the severity of the financial and economic crisis the country is experiencing, given its heavy reliance on oil revenues.
Mohammed told Al-Maalouma that “allowing Iraq to export oil through the Strait of Hormuz represents an important step in maintaining the flow of oil revenues, which constitute the primary source of the state treasury.” He explained that “the continuation of exports will contribute to strengthening financial resources and providing the necessary liquidity to cover government obligations.”
He added that “Iraq faces financial and economic challenges that make the stability of oil exports extremely important,” noting that “increasing the flow of oil revenues will support the government’s ability to overcome part of the current crisis and stimulate the economy.”
Mohammed clarified that “the continuation of oil exports through this route would positively impact the economic situation by supporting public revenues and enhancing the state’s ability to finance its expenditures and financial obligations,” calling for “capitalizing on this opportunity and working to ensure the smooth flow of oil exports.”
Earlier, shipping data showed that Iraqi oil continued to move through waterways, with tankers carrying Iraqi crude from Basra passing through the Strait of Hormuz and into the Red Sea. Arabs& Middle Easterners
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