IRAQ NEWS HEADLINES
Iraq continues to benefit from high global oil prices, especially amid tensions in the Middle East.
Oil exports account for over 90% of government revenue, so Iraq’s economy is heavily influenced by global energy markets.
In May 2025, Iraq exported over 3.5 million barrels per day, mainly to China, India, and Europe.
Walkingstick
The problem used to be Iran. We got security and stability.
The 8th floor [the US Treasury's permanent office in the CBI building] is really controlling them. The problem now is the dinar mattresses.
Shafaq News/ The ongoing war between Israel and Iran has thrown regional air travel into disarray, stranding thousands of passengers and forcing Iraqis to return home by land—only to face chaos, inflated transport fees, and a lack of government oversight.
Since the escalation began on Friday, Iraq suspended its airspace as a security precaution, leading to widespread flight cancellations and diversions. While southern airspace was later reopened for limited daytime flights through Basra International Airport, many Iraqi travelers—especially pilgrims—remained trapped in Iran, Turkiye, and Lebanon. With air routes disrupted, land crossings became the only option home, but the journey proved anything but smooth.
Returnees arriving at Iraq’s borders encountered soaring transport costs and unregulated conditions. Um Tabarak, a mother of three from Baghdad, said she was shocked after returning from Turkiye when a driver demanded $150 to take her home. “There was no system, no oversight—just exploitation and a complete disregard for our humanity,” she told Shafaq News.
Um Hassan from Karbala noted that she paid $300 for a taxi from Qom to the Mehran border crossing—triple the usual fare. “I had gone for medical treatment, spent everything I had, and barely made it back,” she shared with our agency. “I had no choice.”
Abu Mustafa from Najaf recounted being stuck in Mashhad in Iran after falling victim to a flight scam. “I lost all my money and couldn’t leave until some strangers helped me return.”
The crisis reached Lebanon as well. In Beirut, dozens of stranded Iraqis staged a protest outside the Iraqi embassy, denouncing what they called a failure to organize their return. Eyewitnesses reported to our agency that Lebanese police intervened to defuse tensions, though no injuries were reported.
Calls for government intervention have grown louder. Struggling Iraqis are urging the Ministry of Transport and the Border Crossings Authority to step in, organize affordable transport, enforce price regulations, and deploy inspection teams to prevent further abuse.
The Ministry of Transport, however, denied any irregularities. It confirmed that land transportation was operating “smoothly” and that necessary services were being provided in coordination with the Authority.
Ahmad al-Moussawi, Director of the General Company for Private Transport, told Shafaq News that he and senior officials are stationed at the Zurbatiyah crossing under direct instructions from Prime Minister Mohammed Shia al-Sudani. “We’re monitoring transport operations, overseeing the return of foreign pilgrims, and penalizing violations of pricing rules,” he said.
Still, al-Moussawi acknowledged that the ministry holds no authority inside Iranian territory or at the Ibrahim al-Khalil crossing, which falls under the Kurdistan Regional Government.
Sandy Ingram
Any perception that Iraq is siding with one party over the other could draw the country into the geopolitical crossfire.
In short the Israel-Iran conflict could lead to oil price surges that temporarily boost Iraq's revenues but it may also increase regional insecurity, hesitation in investment and operational risks in Iraq's vital oil sector...
Shafaq News/ The closure of the Strait of Hormuz would bring the Gulf region to a standstill and throw global energy markets into chaos, Iraqi economist Hilal al-Taan warned on Tuesday.
Al-Taan explained to Shafaq News that any move to shut the strait would restrict maritime traffic, halt oil exports, and raise shipping and insurance costs. “It would paralyze the Gulf and impact the entire world,” he cautioned, noting that major ports like Jebel Ali in the UAE would be directly affected.
He stressed that oil-dependent economies like Iraq, Kuwait, and Bahrain would suffer severe financial consequences, as the shipping lane is a vital artery for their exports.
The Strait of Hormuz, a narrow waterway between Iran and Oman, is one of the world’s most critical energy chokepoints. Roughly 18 to 19 million barrels of oil, condensates, and fuel—about one-fifth of global consumption—pass through it daily, along with nearly 11 billion cubic feet of liquefied natural gas.
The warning follows statements by Iranian lawmaker Brigadier General Esmail Kowsari, who confirmed that Tehran is seriously considering closing the maritime corridor in response to Israeli airstrikes. “We are studying the matter carefully and will act decisively if necessary.”
🌍 GCR Update: Hype vs Reality in April 2026 A new wave of updates from MarkZ is circulating across the dinar and GCR community, point...
