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24.01.26 - 15:01
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US Pledges To ′Starve′ Iraq Of Oil Revenue If Pro-Iran Parties Join New Government (ZeroHedge)
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US Pledges To 'Starve' Iraq Of Oil Revenue If Pro-Iran Parties Join New Government
Via The Cradle
Washington has threatened to block Iraq's access to its own oil revenue held in the Federal Reserve Bank of New York if representatives of Shia armed parties enjoying support from Iran are included in the next government, Reuters reported Friday.
"The US warning was delivered repeatedly over the past two months by the US Charges d'Affaires in Baghdad, Joshua Harris, in conversations with Iraqi officials and influential Shi'ite leaders," Reuters reported, citing three Iraqi officials and one source familiar with the matter.
via AFP
The threat is part of US President Donald Trump's effort to weaken Iran through a "maximum pressure" campaign of economic sanctions, including on the Islamic Republic's oil exports. Trump also bombed Iran's nuclear sites as part of Israel's unprovoked 12-day war on Iran in June.
Because of US sanctions, few countries can trade with Iran...
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06.01.26 - 14:31
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Trump rejects comparisons between Iraq, Venezuela: ′We′re going to keep the oil′ (The Hill)
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President Trump on Monday dismissed comparisons between past U.S. involvement in Iraq and the recent military operation in Venezuela, saying the difference is that the Trump administration plans to keep the seized oil. “The difference between Iraq and this is that [former President George W. Bush] didn't keep the oil. We're going to keep the......
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11.11.25 - 12:36
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India Races To Replace Russian Oil With US, Iraqi, & UAE Crude (ZeroHedge)
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India Races To Replace Russian Oil With US, Iraqi, & UAE Crude
Authored by Irina Slav via OilPrice.com,
Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude.
Reuters reported, citing unnamed industry sources, that Hindustan Petroleum Corp. had bought 2 million barrels of West Texas Intermediate and 2 million barrels of Murban crude for delivery in January.
The other refiner, Mangalore Refinery and Petrochemicals, bought 1 million barrels of Basra Medium, also to be delivered in January, the Reuters sources said.
The search for alternative oil supplies follows the Trump administration's decision last month to sanction Rosneft and Lukoil, which together account for half of Russia's oil exports and a significant portion of Indian imports from the country.
The sanctions ignited a rush to secure supplies ahead of the entry into effect of the sanctions, on November 21, while ...
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11.11.25 - 05:06
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Lukoil Declares Force Majeure At Major Iraqi Oil Field Due To New US Sanctions (ZeroHedge)
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Lukoil Declares Force Majeure At Major Iraqi Oil Field Due To New US Sanctions
Via The Cradle
Russian energy corporation Lukoil has declared force majeure at Iraq's West Qurna-2 oil field as a result of US sanctions on the firm, four sources told Reuters on Monday.
"Iraq has halted all cash and crude payments to Lukoil," the sources said. The Russian energy firm operated Iraq's West Qurna-2 oil field, which produces 480,000 barrels per day (bpd).
Image source: Reuters
Lukoil holds a 75 percent stake in the field, one of the largest in the world. It also holds a 50 percent stake in Egypt's West Esh El-Mallaha (WEEM) oil fields and a 10 percent stake in the UAE offshore Ghasha project, while maintaining a network across Europe and Central Asia.
The report comes as the energy firm has been suffering significant disruptions in its operations due to recent US sanctions.
Romania and Bulgaria have been scrambling to protect Russian-owned oil refineries from shutdowns before...
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