Iraqi Prime Minister: We cannot be hostages to a single oil export corridor - Sarmad

(KUNA) — Iraqi Prime Minister Ali al-Zoubi said on Monday that his country cannot remain hostage to a single route for oil exports, referring to the closure of the Strait of Hormuz, and called for alternative solutions to be implemented as soon as possible.

The Iraqi Presidential Office reported that al-Zoubi emphasized, in a speech before senior officials at the Iraqi Ministry of Oil, that Iraq is the country most severely affected by the closure of the Strait of Hormuz. He stressed the importance of ensuring that Iraq is not held hostage by geography, which necessitates the creation of new geographical realities.

Al-Zoubi stated that crude oil that was supposed to be sold today would be sold tomorrow at a loss, rejecting excuses and justifications, and demanding radical solutions to address issues such as delayed salary payments, disruption of public services, or losses to the state treasury, as he described them.

He pointed out that waiting is not a strategy but a deferred surrender, emphasizing 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 about 90 percent of the country’s general budget revenues.