Iraqi Prime Minister Ali al-Zaidi signs $60 billion in agreements with U.S. companies to diversify oil exports and boost infrastructure.
Iraqi Prime Minister Ali al-Zaidi secured approximately $60 billion in agreements and partnerships with U.S. companies during a business summit at the U.S. Chamber of Commerce in Washington. The deals span multiple industries, including healthcare, communications, and infrastructure, with a primary focus on the energy sector. A significant portion of these agreements aims to reduce Iraq's reliance on the Strait of Hormuz, which has faced disruptions due to the ongoing U.S.-Israel war against Iran. Key among these is a project to reconstruct the Iraq-Syria crude oil pipeline, which will connect northern Iraq to the Mediterranean coast. The State Department welcomed the plan, noting that a U.S.-led international consortium will manage the technical and financial aspects of the project. Ali al-Zaidi emphasized that Iraq is seeking long-term investment partners rather than just contractors. During the summit, the administration's energy goals were highlighted as Iraq seeks to stabilize its production and create reliable export routes to global markets.