Economic Insights – Baghdad
On Thursday, Prime Minister Muhammad Shi’a Al-Sudani announced plans for Iraq to cease gas imports from Iran by 2028, asserting that Iraq is operating free from external pressures or dictates.
In a televised interview, Al-Sudani emphasized Iraq’s commitment to balancing the rights of consumers and producers in collaboration with OPEC+. He remarked that “Iraq has become an attractive environment for investment,” highlighting the nation’s economic potential.
He elaborated on ongoing energy initiatives, stating, “We are establishing contracts for electricity-linking projects with the Kingdom of Saudi Arabia, and we have begun the process of connecting our energy grid with neighboring countries, particularly Jordan. We anticipate completing gas imports from Iran by 2028.” He noted that “in Iraq, electricity demand currently exceeds production capacity.”
Al-Sudani remarked on the significance of the upcoming Arab summit in Baghdad, describing it as a pivotal event amidst challenging regional dynamics, asserting that “Iraq is not exposed to any external pressure or dictates.”
He further stated, “Our strong relations with both Iran and the United States represent an advantage. Additionally, we maintain distinguished ties with various Arab nations, notably the Kingdom of Saudi Arabia.”
He underscored the agreement with the United States, noting that the established timeline aims to conclude the role of the international coalition by 2026. Al-Sudani highlighted the importance of coordination with Syria regarding border security and the repatriation of refugees, expressing Iraq’s readiness to provide necessary support.
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