Iraqi PM to meet US President Trump in Washington to deepen strategic ties
Oil and gas deals are expected to be signed as part of a broader push for economic, trade and investment cooperation. Iraq’s Prime Minister Ali
Oil and gas deals are expected to be signed as part of a broader push for economic, trade and investment cooperation. Iraq’s Prime Minister Ali al-Zaidi is set to visit the United States to meet President Donald Trump in his first international trip since taking office. Zaidi will depart for the week-long visit on Monday, government spokesman Haider al-Aboudi said. During his visit, oil and gas deals are expected to be signed as part of a broader push for economic, trade, and investment cooperation between the two countries. “The agreements to be signed will include several memorandums of understanding in the oil and gas sector, as Iraq prepares to bring in various US companies that will provide momentum to increase oil production capacity,” al-Aboudi said.
He added that the focus of the talks will be on “strengthening economic relations and investments” between Iraq and the US. Al-Zaidi hopes to attract US investment after significant revenue losses caused by the halt in oil exports due to the Iran war and closure of the Strait of Hormuz.The Gulf, which is the only body of water bordering Iraq. Al-Zaidi, who came to power this year, assumed office amid growing US pressure on Baghdad to crack down on corruption and disarm Iran-backed armed groups that have targeted US facilities in Iraq. In a move that pleased the US, Iraqi security forces arrested dozens of prominent politicians, lawmakers and officials in sweeping raids across Baghdad in late June, as part of an unprecedented anticorruption crackdown ordered by al-Zaidi.
Relations between Iraq and the US have at times been strained over the continued presence of US troops in Iraq, Baghdad’s ties with Iran, and the pressure to disarm Iran-backed armed groups. But al-Zaidi received congratulations from Trump after being nominated for the premiership in April. The US president said he hoped for closer cooperation between Baghdad and Washington. In recent months, Iraq has signed several deals with US companies in the oil sector. Al-Zaidi is expected to sign several more agreements, including a deal to establish a fund into which Iraq will deposit half a million barrels of oil per day in exchange for the US helping to boost the country’s electricity.
In a show of support for al-Zaidi’s administration, the US has also resumed cash shipments for Iraq’s oil revenue, which have been handled by the Federal Reserve Bank of New York since 2003.
The BriefWire