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Iraq's Oil Industry Threatened By Political Unrest

Politics, Geopolitics & Conflict

Clashes erupted on Tuesday in Iraq’s oil-rich Basra region following rocket attacks on the presidential palace, intensifying concerns that unrest in Baghdad could directly threaten the country’s oil industry. Following clashes between various armed factions in Basra, Shi’ite cleric Moqtada al-Sadr announced on Thursday that all armed factions he controls would be stood down to avoid escalation and what al-Sadr’s men called “sedition”. The clashes pit al-Sadr’s militias against his southern rivals in the Asaib Ahl al-Haq faction, which benefits strongly from oil revenues. Al-Sadr’s opponents in Basra claim that the Shi’ite cleric is attempting to cut off their oil revenues.

Russia has officially annexed four regions of Ukraine; however, Ukrainian forces are still advancing further in the south and the east, pushing back Russian forces from occupied territory. Moscow has also claimed Europe’s largest nuclear plant - Ukraine’s Zaporizhzhia plant as an official Russian asset. The territories annexed following a sham referendum include the following:

Protests in Iran have now entered their third week and they show no sign of abating. While Tehran is crying foul and blaming the U.S. and Israel for largely sponsoring and fomenting the protests, it is an irrelevant accusation. Foreign elements are, of course, keen to take advantage of any crack in the regime,…

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