Iraq seeks $2bn in upfront payment for crude to face financial crisis

[المستشار الصحفى]

الصحف المصرية والعربية

Iraq asked oil importers to pay $2 billion upfront payments for crude supplies as part of long-term contracts, as a result of its suffocating financial crisis. Bloomberg*reported that Iraq is undergoing a severe financial crisis following the fall in global oil prices, adding that authorities were forced to cut production under an agreement with the OPEC+ group to sustain global oil prices. The news agency stated that the financial crisis in Iraq might lead to the eruption of new popular protests, following the previous episode of unrest that ended with the death of hundreds of protesters and saw the government sacked. According to a letter sent by the Iraqi government to oil companies, of which*Bloomberg*obtained a copy, the government is […]

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