{"id":2162179,"date":"2024-01-29T16:14:01","date_gmt":"2024-01-29T21:14:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/iraq-is-choking-off-billions-in-us-backed-oil-exports-businesses-are-imploring-congress-to-help\/"},"modified":"2024-01-29T16:18:46","modified_gmt":"2024-01-29T21:18:46","slug":"iraq-is-choking-off-billions-in-us-backed-oil-exports-businesses-are-imploring-congress-to-help","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/iraq-is-choking-off-billions-in-us-backed-oil-exports-businesses-are-imploring-congress-to-help\/","title":{"rendered":"Iraq is blocking US-supported oil exports, urging Congress for assistance as businesses suffer"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Firaq-is-choking-off-billions-in-us-backed-oil-exports-businesses-are-imploring-congress-to-help%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2162179&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Iraqi\u2062 Government&#8217;s Chokehold on Kurdistan&#8217;s Oil Exports Sparks\u2063 Urgent Plea for Help<\/h2>\n<div>\n<blockquote>\n<p>The Iraqi government\u200b is choking off the exportation of more than 400,000 barrels of oil per\u200c day in\u200c the country\u2019s Kurdistan territory, prompting a regional trade\u200b association to petition\u200c Congress for help \u200bpressuring Baghdad to reverse course.<\/p>\n<\/blockquote>\n<p>The Association of the Petroleum Industry of \u2063Kurdistan has sent a letter\u200c to the House and Senate foreign affairs committees, \u2064urgently \u2063warning that U.S. and international investments\u2064 worth over \u200d$10 billion are now at risk due to the Iraqi government&#8217;s obstruction of crude\u200b oil reaching\u200c the market.\u200b Shockingly, this impasse has already resulted in a staggering loss of over $7 billion \u200cin revenue.<\/p>\n<p>This issue has \u200cbeen \u200csimmering for more than 10 months, but its \u200dconsequences could further ignite tensions in a region already\u2062 on\u2063 the brink of a\u200b broader conflict \u200cwith Iran-backed terrorist proxies. The militants, based in \u200dIraq and supported\u2064 by Tehran, have repeatedly targeted \u200dU.S. positions and were\u2062 responsible for a recent strike \u2063in Jordan that claimed the lives\u2063 of three American service members. \u200bThe Kurdistan region, \u200dwhich has\u200c been a\u2064 reliable ally to the United States amidst the chaos, is\u200b now facing instability due \u200dto the lost \u200drevenue\u200c from \u200boil sales, as Baghdad&#8217;s government\u200d grows increasingly aligned with Iran.<\/p>\n<p>&#8220;The halt of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-democrats-beg-joe-biden-to-lower-seven-year-high-gas-prices\/\" title=\"Senate Democrats Beg Joe Biden to Lower Seven-Year High Gas Prices\">crude oil exports<\/a> from the \u2063region, now \u2063lasting over 10 months, coupled with the unresolved Federal Budget issues by the [government of Iraq], \u2062continue to threaten the fiscal stability and autonomous status\u200b of the [Kurdistan region]\u2014a region that has been a steadfast security ally\u200b of the \u200bUnited States in the\u2062 Middle East,&#8221;\u200d emphasized the \u2062petroleum association\u2063 in \u2062its letter to Congress.<\/p>\n<p>The association represents\u2062 eight international oil and gas companies operating in Kurdistan, including three\u200d U.S.-owned companies and several others with substantial American investments. The \u200dletter,\u2064 obtained by the\u200b <em>Washington Free Beacon<\/em>, comes just before Iraqi \u2063Prime Minister Mohammed Shia Al Sudani&#8217;s \u2063visit to the White House. The business association is urging lawmakers to exert pressure on Al Sudani regarding \u200cthe unresolved oil \u2064crisis during\u2062 his visit to Washington,\u200c D.C. Failure to find a resolution \u2064not only jeopardizes U.S. investments but \u2062also strengthens Iran&#8217;s influence \u2063in \u2062the country.<\/p>\n<p>&#8220;We remain \u2064committed to Kurdistan, despite \u200dthe recent ballistic missile attacks and increased \u200dthreats from Iranian-backed \u200bmilitia groups throughout Iraq,&#8221; stated the association. &#8220;It\u2064 is \u200dimperative that we resume full oil production\u200b and recommence oil exports from Kurdistan to create \u200deconomic \u2064stability in the region as a bulwark against\u200c destructive and \u200cdestabilizing influences from \u200cexternal actors.&#8221;<\/p>\n<p>Oil from the Kurdistan region\u2064 is a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/russias-gazprom-tells-europe-halt-in-gas-supplies-beyond-its-control\/\" title=\"Russia\u2019s Gazprom Tells Europe Halt in Gas Supplies Beyond Its Control\">vital revenue stream<\/a> for this U.S. \u200cally, backed\u2063 by significant \u2064public \u2062and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">private sector investments<\/a>, including approximately \u2064$300 million from\u2062 the U.S. Development \u200dFinance Corporation. However, \u2064the Kurdish government, operating autonomously from\u2063 Iraq&#8217;s central government, \u200bis already grappling with \u200cbudgetary \u200dchallenges, and \u2064the halt in oil revenue has exacerbated the\u200c crisis, posing a threat to the region&#8217;s \u2063resistance against Iranian interference.<\/p>\n<p>&#8220;The Iraqi prime minister should demonstrate that\u2062 he is \u2063committed to leading his\u200b government to deliver \u2063a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-repurposing-3-government-buildings-in-capital-into-affordable-housing\/\" title=\"California Repurposing 3 Government Buildings in Capital Into Affordable Housing\">mutually beneficial solution<\/a> \u200dthat will no \u2062longer\u200d economically strangle the Kurdistan Region of Iraq,&#8221; emphasized Myles B. Caggins III, the association&#8217;s spokesman. &#8220;This solution includes the resumption \u2063of oil exports\u200c from the Kurdistan Region into the international markets with payment and contractual certainty \u200dfor \u2062western and American companies \u200dto resume operations.&#8221;<\/p>\n<p>Congress has also expressed concerns about \u200cthe situation, with several Republican members of the House Foreign Affairs Committee pressuring the White House to address the unacceptable \u2063treatment \u200cof Iraqi Kurds \u2063and the Kurdistan Regional Government (KRG) by Iran-aligned\u2064 elements in Iraq. They highlighted the closure of the Iraq-T\u00fcrkiye pipeline, \u200bwhich\u2062 has severed\u200c the KRG from \u2064the majority\u200d of its\u200c revenue. This comes at a time when oil prices are\u2064 rising, and Iran \u200dcontinues to \u2063export oil despite U.S. sanctions.<\/p>\n<\/div>\n<p> <\/p>\n<h2> What are the implications of\u2064 the lost \u2064oil\u2062 revenue on American national security, considering Iraq&#8217;s\u200b alignment with Iran and the breeding\u2063 grounds \u2063for terrorist proxies?<\/h2>\n<p><span>  E \u200dregion and\u2064 puts American national \u2062security at risk.<\/p>\n<p>The\u200d Iraqi government&#8217;s chokehold on\u200b Kurdistan&#8217;s oil exports has severely \u2062impacted the region&#8217;s economy. The \u2064Association of \u2063the Petroleum Industry \u2063of \u2063Kurdistan\u200d warns \u200cthat the\u200b loss of\u200d revenue from oil sales is threatening the fiscal stability \u200dand autonomous\u2062 status of the Kurdistan \u200bregion. This is deeply concerning considering \u200bthe region&#8217;s role\u200b as a steadfast security\u2063 ally of \u2064the United States in the\u2062 Middle\u200b East.<\/p>\n<p>The implications \u200dof\u2062 this oil crisis go beyond\u200c economic instability. Iraq has \u200cbeen the breeding ground for Iran-backed terrorist proxies that have targeted\u200b U.S. positions and caused\u200c the \u2063deaths of American service members.\u2064 As the Iraqi government\u2064 grows increasingly aligned with\u200c Iran, the \u2062instability caused by the lost oil revenue\u200b further exacerbates tensions in the region, putting American national security at \u200brisk.<\/p>\n<p>The Association of the Petroleum \u200bIndustry of \u2063Kurdistan emphasizes that the\u200d halting\u200b of crude oil exports coupled with unresolved Federal Budget issues\u200b by \u2062the Iraqi \u200dgovernment \u2063continue to\u200b threaten the region&#8217;s stability. This situation \u200bis alarming\u2064 considering the\u200c significant\u2063 investments made by international \u2063oil and gas \u2064companies in Kurdistan,\u200c including three U.S.-owned companies and\u200b others with\u200c substantial American investments. The loss of over $7\u200b billion \u2062in revenue already underscores the urgency of finding\u200c a \u200bresolution to this crisis.<\/p>\n<p>As Iraqi Prime Minister Mohammed Shia Al Sudani\u200c visits the White House, the business\u2062 association has urgently called on Congress \u2063to exert pressure on Al Sudani regarding the unresolved oil crisis. The letter, obtained by the Washington\u200b Free Beacon,\u2063 highlights the need for U.S. lawmakers to address this issue during \u200bAl Sudani&#8217;s visit to Washington,\u200c \u200cD.C. Failure to find a resolution not only jeopardizes \u200cAmerican investments but also \u2063allows \u2062Iran to strengthen its influence in the region.<\/p>\n<p>The U.S. and the international \u2063community\u200c cannot afford \u2064to overlook \u2063this oil \u2064crisis. It is \u200dcrucial for Congress \u2064to\u2064 engage with \u200cIraqi leaders \u200cand find a resolution that ensures the\u200d free flow of oil from Kurdistan. This will not only support the economic stability and\u200c autonomous status of\u2064 the region but \u200balso help in countering Iranian \u200dinfluence and safeguarding American \u2063national security interests in the\u200d Middle \u2062East.<\/p>\n<p>The Association of the Petroleum Industry of\u200c \u2063Kurdistan&#8217;s plea for\u200d help should \u2062not go unanswered. Immediate action is needed to \u2064pressure the Iraqi government to \u200breverse\u2064 its chokehold on\u200b Kurdistan&#8217;s oil exports. The consequences of \u200dinaction are \u200csevere, with billions of dollars of investments and American national security interests hanging in the \u2062balance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Iraqi government restricts Kurdistan&#8217;s oil export of 400,000 barrels daily. The Association of the Petroleum Industry of Kurdistan seeks Congress&#8217; assistance to pressure Baghdad into reversing this decision, as stated in a letter sent on Monday to the House<\/p>\n","protected":false},"author":117,"featured_media":2162181,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2162179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2162179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/117"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2162179"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2162179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2162181"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2162179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2162179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2162179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}