Iraq Economic News and Points To Ponder Saturday Afternoon  9-13-25

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Congressional Resolution Ushers In A New Era And Prevents Any Military Intervention In Iraq.

September 12, 2025  Baghdad – Qusay Munther  The US Congress’ decision to revoke the 1991 and 2002 war authorizations for Iraq was widely welcomed in Baghdad as a step that reinforces the principle of sovereignty and heralds a new phase in Iraqi-American relations based on mutual respect and shared interests.

“The decision to revoke the authorization for war on Iraq is that the US Congress voted to repeal the old laws that had granted US Presidents George H.W. Bush in 1991 and George W. Bush in 2002 broad powers to wage war on Iraq without having to return to Congress every time,” legal expert Ali Al-Tamimi said in a statement yesterday.

He stressed that “the authorizations were of two basic types: the first was the 1991 authorization to launch the Gulf War to liberate Kuwait, and the second was the 2002 authorization to wage war on Iraq and topple the regime.”

He pointed out that “the decision to revoke came because Iraq was no longer under the rule of the former regime, and there were no longer legal justifications for the authorization to remain, and in order to prevent any future US president from exploiting this law to launch military operations in Iraq or the region without the approval of Congress.

” He explained that “this is also a symbolic step to improve relations with Iraq and to show that the United States is no longer at war with it.”

He went on to say that “the decision means revoking the old powers of the US president to use military force against Iraq and maintaining any operations.” Current agreements, such as military cooperation against ISIS, are under new agreements or with different approvals, and not based on the old laws of war.

The Foreign Ministry previously emphasized that the cancellation of the war authorizations represents a step towards strengthening the partnership with Washington. In a statement yesterday, it said, “Baghdad welcomes the decision, which represents a step towards strengthening the partnership and establishing the principle of respect for sovereignty.

It also reflects the development of relations with the United States.” The Iraqi Embassy in Washington confirmed in a statement yesterday, “We welcome the US House of Representatives’ vote to repeal the 1991 and 2002 war authorizations.”

The statement added, “This step represents a reinforcement of the principle of sovereignty and opens a new page in the path of Iraqi-American relations based on mutual respect and common interests. We look forward to its approval soon by the Senate.

” It stressed that “Iraq views with appreciation this historic step that contributes to strengthening our country’s image as a responsible partner state.” It reiterated “the commitment to continue working with the United States to support regional stability and international cooperation, and Iraq looks forward to final approval in the Senate.”

The statement noted that “this decision is an important milestone in the development of our relations with our friends in the United States of America, and a clear message to international public opinion that Iraq is today a partner in peace and an effective voice in issues of development and shared prosperity.”

It expressed “Iraq’s hope that the Senate will translate this message into a tangible reality by approving it.”For his part, Hussein Al-Ameri, a member of the Parliamentary Security and Defense Committee, said in a statement yesterday that “the recent US Senate vote to end the authorization for the war on Iraq that was granted to the US President is a good initiative.”

He added that “Prime Minister Mohammed Shia Al-Sudani’s approach is different from others in dealing with foreign relations, especially with the United States of America, as Al-Sudani’s policy is characterized by transparency, and through this US legislative step, a new page can be opened with the international coalition forces to train Iraqi forces and also to arm the army.”

He stressed that “this step will lead to security and stability for Iraq in light of the war that has no known end between Russia and Ukraine, especially since stability in our region serves all parties and serves Iraq directly.

” He pointed out that “negotiation and transparency in dealing with the American side leads to stability in the region, and we in Iraq hope that there will be no disagreements or differences between neighboring countries because this affects the stability of the political, economic and security situations in the country.” LINK

Iraq intends to build an oil pipeline from Basra to the Sultanate of Oman

economy | 12/09/2025  Mawazine News – Baghdad – The State Oil Marketing Organization (SOMO) confirmed on Friday that the signing of memoranda of understanding with the Sultanate of Oman stems from its strategic importance in marketing Iraqi oil, while indicating that there is discussion regarding the construction of a complete pipeline from Basra to Oman.

According to the official agency, the company’s general manager, Ali Nizar Al-Shatri, said, “The signing of memoranda with the Sultanate of Oman stems from its strategic location for Iraqi crude oil and petroleum products. Oman has an outlet on the Arabian Sea and another on the Arabian Gulf at its beginning, before the Strait of Hormuz.

The result is that its presence will be closer to our crude oil customers, as most of our exports head to Asia. Therefore, Asian customers will be able to load crude oil from those locations instead of taking the long route.”

He added, “There are also technical issues. The more open the waters are, the less the impact of bad weather. Meanwhile, our ports in Basra suffer from bad weather, which forces us to halt exports. Therefore, going to Oman means going to an open region, and exports from it are more stable and committed to our customers, while reducing the chances of disruption.”

He pointed out that “discussions are open regarding the construction of a complete pipeline from Basra to Amman, which would achieve multiple outlets and increase export capacity, and would give Iraq the potential referred to by the Prime Minister regarding increasing quotas and production ceilings. This can only be achieved with the presence of local export and consumption capacity.

This was noted in the Prime Minister’s speech regarding increasing investments in the field of refining, which is important, while export capacity depends on available export outlets.”

He continued, “Oman will play a major role in this field if the pipeline and tanks, upon which the memoranda of understanding were signed, are completed, as well as the commercial process, which is not without marketing aspects.

The result is that when oil is stored in Amman, there is a cost that was incurred, and this cost must be recovered. Iraq needs additional profits to recover the costs, and this can only be achieved through commercial integration.”

Al-Shatri explained: “This is why another memorandum of understanding was signed for trade integration between Iraq and the Sultanate of Oman, between the State Oil Marketing Organization (SOMO) and OQ Trading Company, an Omani government company that has proven itself globally and internationally.

We are currently in the process of discussing the details of the contracts, because the memoranda of understanding set the general roadmap, but we need the details of the contracts to complete them.”  https://www.mawazin.net/Details.aspx?jimare=266633

Amid Fluctuating Global Oil Prices, Basra Crude Exceeds $65.

Economy | 12/09/2025  Mawazine News – Baghdad –  Iraqi oil prices recorded a slight increase during daily trading on Friday in the global market.
According to data, Basra Medium crude rose to $65.50 per barrel, while Basra Heavy crude recorded $68.60 per barrel, with a change rate of +0.46 for both.
Regarding global oil prices, British Brent crude recorded $65.90 per barrel, while US West Texas Intermediate crude recorded $65.93 per barrel, with a change rate of -0.47 and -0.44, respectively.https://www.mawazin.net/Details.aspx?jimare=266629

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