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Iran says Iraq exempt from any Strait of Hormuz restrictions
Iran said Iraqi ships may pass the strait as traffic rose to 53 transits last week, according to Lloyd's List Intelligence.
- On Saturday, Iran's Khatam al-Anbiya Central Headquarters announced that Iraq is exempt from shipping restrictions in the Strait of Hormuz, distinguishing "brotherly" Iraq from states deemed hostile.
- Iraqi oil exports plunged by roughly 97% to a daily average of 99,000 barrels in March as the second-largest OPEC producer faced disruptions when shipments were rerouted through Turkey.
- The exemption could unleash up to 3 million barrels a day of Iraqi oil, easing global supply pressures. Yet an Iraqi official cautioned the exemption's usefulness hinges on whether shipping companies will risk entering the Strait.
- Vessel traffic reached 53 transits last week, though volumes remain a small fraction of pre-war levels. Tehran's move shifts diplomatic calculations even as immediate market relief remains uncertain.
- Iran and Iraq maintain close ties despite a brutal eight-year war in the 1980s, with shared Shia Muslim populations underpinning the current diplomatic exemption and distinguishing Baghdad's interests from other regional states.
43 Articles
43 Articles
Iran exempts Iraq from Hormuz restrictions as oil hits $111 pb
Iran on Saturday announced the exemption of “brotherly Iraq” from limitations imposed in relation to passage through the Strait of Hormuz. “The restrictions apply only to hostile countries,” the Khatam al-Anbiya Central Headquarters of the Iranian Armed Forces emphasized in a statement. The blockade of the Hormuz Strait and the escalating tensions in the Persian Gulf have caused oil prices to trade near four-year highs as 15-20 million barrels o…
Iran's military reported that the major oil producer Iraq is exempt from navigation restrictions in the Strait of Ormuz, in a movement that could have significant implications for the global supply of crude oil. "Iraq, a sister country, is exempt from any restrictions we have imposed on the Strait of Ormuz," the Iranian military spokesman said in an Arabic video published by the state agency Islamic Republic News Agency.The statement could allow…
The Iranian army declared that Iraq is exempt from the navigational restrictions in the Strait of Ormuz, which have paralysed the global energy flow for weeks. "Brother Iraq is exempt from all the restrictions we have imposed on the Strait of Ormuz," the Iranian military spokesman said in an Arab video release broadcast by the Islamic Republic's state news agency.This statement could release up to 3 million barrels of Iraqi oil per day.
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