Iraqi oil exports not affected by Red Sea crisis
An oil tanker in the sea. Photo: Baird Maritime
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, said on Thursday that his country’s oil exports were not affected by the recent attacks on ships in the Red Sea.
Abdul-Ghani’s remarks took place during his participation in the World Economic Forum held in Davos, Switzerland, Reuters reported.
The Iraqi Oil Minister elaborated that about 90 percent of Iraq’s oil exports go to Asia and therefore do not need to pass through the Red Sea.
The Houthi attacks in Yemen on ships in the Red Sea forced many companies to divert sailing away from the Red Sea and pass through the Cape of Good Hope route around Africa, which increased the time and costs of trips.
The attacks launched by the Houthis, which they say are in support of the Palestinians, target a route that represents about 15 percent of global shipping traffic and serves as a vital channel between Europe and Asia.