Iraq is looking for ways to interact with Russian oil companies under sanctions

Brief retelling from RIA II

Iraqi authorities are looking for optimal ways to interact with Russian oil companies in light of the US and EU sanctions imposed on them.

Rosneft and Gazprom are operating in Iraq, and there are plans to expand their projects, while Lukoil was forced to leave Iraq due to Western sanctions.

MOSCOW, October 4 – RIA Novosti. Iraqi authorities are looking for optimal ways to interact with Russian oil companies in light of the US and EU sanctions imposed on them, said Iraqi Ambassador to the Russian Federation Abdulkarim Mustafa.

Mustafa noted that negotiations are currently underway with the Russian side to determine the exact dates of the next meeting of the intergovernmental commission.

The ambassador recalled that Rosneft and Gazprom are operating in Iraq, and there are plans to expand their projects. Also, until recently, the company Lukoil was engaged in oil production in the country, but due to Western sanctions it was forced to leave Iraq.

“Now, in coordination with the Ministry of Oil, we are trying to find optimal ways to interact with Russian companies, taking into account the American and European sanctions in force against them,” the ambassador told the state agency INA.

At the end of February, Iraq's state oil company Basra Oil Company signed a preliminary agreement with the American company Chevron on the transfer of management of the West Qurna-2 oil field, which was previously operated by the Russian company Lukoil.