Iraqi Prime Minister: We cannot be held hostage to a single oil export corridor

Baghdad, August 17 (KUNA) – Iraqi Prime Minister Ali al-Idi said on Monday that his country cannot remain hostage to a single route for oil exports, in reference to the closure of the Strait of Hormuz, calling for alternative solutions to be implemented as soon as possible. The Iraqi Presidential Office reported that al-Idi emphasized, in a speech before senior officials at Iraq’s Ministry of Oil, that Iraq would be the country most severely affected by the closure of the Strait of Hormuz, urging that Iraq must not be held hostage by geography, which necessitates the creation of new geographical realities. Al-Idi stated that crude oil scheduled for sale today would be sold tomorrow at a loss, rejecting excuses and justifications, and calling for radical solutions to address issues such as delayed salary payments, disruption of public services, or losses to the state treasury. He pointed out that waiting is not a strategy but a postponed surrender, stressing the need to turn the crisis into an opportunity for success, especially since the state is bound by commitments, most of which fall on the Ministry of Oil, which generates the majority of the country’s revenues. The crisis stemming from the closure of the Strait of Hormuz has caused a significant decline in Iraq’s oil exports, which account for approximately 90 percent of the country’s general budget. (End) A.H.H. / N.S.A.