SOMO: All Correspondence With U.S. Confirms The Soundness Of Our Procedures, No Threat Of Sanctions
Baghdad-INA The State Oil Marketing Organization (SOMO) on Sunday denied receiving any official notification or threat of U.S. sanctions, affirming that its oversight mechanisms for crude oil and petroleum product exports are robust and coordinated with international authorities.
Ali Nizar al-Shatri, Director General of SOMO, told the Iraqi News Agency (INA) that “we have not received any official communication regarding U.S. sanctions. We rely exclusively on formal documents and official correspondence, and do not rely on statements circulating informally.”
He added that “all understandings and discussions, including those with the U.S. Department of the Treasury, confirm the soundness of the mechanisms, documentation, and procedures employed by SOMO.”
The company enforces strict control mechanisms over all tankers entering Iraqi territorial waters, issuing daily reports detailing the nature of vessels and their destinations, in coordination with security authorities overseeing the territory. “These measures provide full reassurance regarding the institution’s integrity and the safeguarding of the national budget’s lifeline,” al-Shatri said.
He also explained that “Iraq has now become a major exporter of petroleum products,” noting that revenues from these exports have begun to rival crude oil earnings, underscoring the company’s commitment to preserving this vital economic sector. https://ina.iq/en/economy/45663-somo-all-correspondence-with-us-confirms-the-soundness-of-our-procedures-no-threat-of-sanctions.html