
Iraq, Venezuela vow to deepen energy ties
Shafaq News/ Iraqi Foreign Minister Fuad Hussein and his Venezuelan counterpart Yvan Gil Pinto on Saturday pledged to expand cooperation, while urging closer coordination to stabilize global oil markets, Iraq's Foreign Ministry said.
The meeting, held on the sidelines of the Antalya Diplomacy Forum (ADF2025) in Turkiye, 'focused on strengthening cooperation in energy, trade, and investment," the ministry said in a statement, adding that both sides "highlighted the importance of joint coordination to support the stability of global oil markets in a way that serves the interests of producers and consumers alike."
Hussein said Iraq was eager to deepen its relationship with Venezuela, particularly through partnerships involving oil companies and high-potential economic sectors. He underscored "the importance of enhancing private sector collaboration between the two countries."
Gil Pinto reaffirmed Venezuela's commitment to expanding dialogue with Baghdad and extended a formal invitation to Hussein to visit Caracas. He welcomed continued talks in the Venezuelan capital to explore 'new avenues for cooperation.'
The two ministers also reviewed regional and global issues of mutual concern, stressing the need for political solutions to conflicts and the respect for national sovereignty as essential pillars for stability in both the Middle East and Latin America.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Iraqi News
2 hours ago
- Iraqi News
Iran says to submit own nuclear proposal to US soon
Tehran – Iran said Monday it will soon present a counter-proposal on a nuclear deal with the United States, after it had described Washington's offer as containing 'ambiguities'. Tehran and Washington have held five rounds of talks since April to thrash out a new nuclear accord to replace the deal with major powers that US President Donald Trump abandoned during his first term in 2018. The longtime foes have been locked in a diplomatic standoff over Iran's uranium enrichment, with Tehran defending it as a 'non-negotiable' right and Washington describing it as a 'red line'. On May 31, after the fifth round talks, Iran said it had received 'elements' of a US proposal, with Foreign Minister Abbas Araghchi saying later the text contained 'ambiguities'. Foreign Ministry spokesman Esmaeil Baqaei criticised the US proposal as 'lacking elements' reflective of the previous rounds of negotiations, without providing further details. 'We will soon submit our own proposed plan to the other side through (mediator) Oman once it is finalised,' Baqaei told a weekly press briefing. 'It is a proposal that is reasonable, logical, and balanced, and we strongly recommend that the American side value this opportunity.' Iran's parliament speaker has said the US proposal failed to include the lifting of sanctions — a key demand for Tehran, which has been reeling under their weight for years. – 'Strategic mistake' – Trump, who has revived his 'maximum pressure' campaign of sanctions on Iran since taking office in January, has repeatedly said it will not be allowed any uranium enrichment under a potential deal. On Wednesday, Iran's supreme leader Ayatollah Ali Khamenei said the US offer was '100 percent against' notions of independence and self-reliance. He insisted that uranium enrichment was 'key' to Iran's nuclear programme and that the US 'cannot have a say' on the issue. Iran currently enriches uranium to 60 percent, far above the 3.67-percent limit set in the 2015 deal and close though still short of the 90 percent needed for a nuclear warhead. Western countries, including the United States, have long accused Iran of seeking to acquire atomic weapons, while Iran insists its nuclear programme is for peaceful purposes The United Nations nuclear watchdog will convene a Board of Governors meeting from June 9-13 in Vienna to discuss Iran's nuclear activities. The meeting comes after the International Atomic Energy Agency released a report criticising 'less than satisfactory' cooperation from Tehran, particularly in explaining past cases of nuclear material found at undeclared sites. Iran has criticised the IAEA report as unbalanced, saying it relied on 'forged documents' provided by its arch foe Israel. Britain, France and Germany, the three European countries who were party to the 2015 deal, are currently weighing whether to trigger the sanctions 'snapback' mechanism in the accord. The mechanism would reinstate UN sanctions in response to Iranian non-compliance — an option that expires in October. On Friday, Araghchi warned European powers against backing a draft resolution at the IAEA accusing Tehran of non-compliance, calling it a 'strategic mistake'. On Monday, Baqaei said Iran has 'prepared and formulated a series of steps and measures' if the resolution passed. 'Without a doubt, the response to confrontation will not be more cooperation,' he added.


Shafaq News
2 hours ago
- Shafaq News
$12 Billion in Trade: Iran and Iraq deepen commerce
Shafaq News/ Trade between Iran and Iraq approached $12 billion in 2024, the secretary-general of the Iran-Iraq Joint Chamber of Commerce Jehanbakhsh Sanjabi Shirazi revealed on Monday. Shirazi stated that Iran's imports from Iraq reached approximately $754 million, which he described as 'acceptable—though still short of the target—and marked a notable increase compared to 2023 and the average of the past decade.' 'Iran's annual imports from Iraq typically did not exceed $100 million, except for 2022 when imports surged to about $1.07 billion, part of which included feed ingredients purchased through letters of credit from Iraq's TBI bank,' he explained. Looking ahead, Shirazi projected a 20% increase in bilateral trade for 2025, while noting that Iraq remains Iran's second-largest trading partner, expressing optimism that trade volume will surpass $13 billion and reach $15 billion by the end of 2026. However, he cautioned that the Iraqi market is approaching saturation for Iranian exporters, making a significant surge in exports unlikely in the near term. Iran's exports to Iraq through the Mehran border crossing in western Ilam province reached $206.8 million over the past two months, according to provincial customs officials. Overall, trade between the two countries has approached $12 billion annually, with Iran exporting food, petrochemicals, and construction materials. Both sides have signed agreements to boost commerce through joint economic zones and free-trade areas, with Iraqi officials aiming to raise trade volume to $25 billion through coordinated infrastructure and policy efforts.


Shafaq News
2 hours ago
- Shafaq News
UN Ocean Conference: Iraqi President urges global climate, water action
Shafaq News/ On Monday, Iraqi President Abdul Latif Jamal Rashid called for urgent global action on climate and water security during his speech at the UN Ocean Conference (UNOC3), held June 9–13 in Nice, France. Rashid arrived in France on Sunday with First Lady Shanaz Ibrahim Ahmed, Deputy Prime Minister Fuad Hussein, and senior officials for the summit, co-hosted by France and Costa Rica. At the high-level session, Rashid warned that Iraq faces a 'severe and growing water crisis ' fueled by climate change and poor cross-border water management, blaming shrinking flows from the Tigris and Euphrates rivers for decimating agriculture and triggering internal displacement. He reaffirmed Iraq's commitment to multilateral efforts against climate threats, stressing that worsening water shortages are deepening food insecurity and economic hardship nationwide. رئيس الجمهورية @LJRashid: إن محيطاتنا وبحارنا تمثل القلب النابض لكوكب الأرض ورئته التي لا غنى عنها؛ فهي تُنتج أكثر من نصف الأوكسجين الذي نتنفسه، وتحتضن معظم التنوع البيولوجي على سطح الأرض، وتسهم بدور جوهري في تنظيم المناخ العالمي. — رئاسة جمهورية العراق (@IraqiPresidency) June 9, 2025 Framing ocean degradation as a security challenge, Rashid urged an integrated global response. 'Oceans and seas are more than natural wonders; they are complex ecosystems that stabilize our climate, support food security, generate livelihoods, and regulate the Earth's water cycle.' The Iraqi President outlined key priorities: increasing sustainable ocean investment, restoring marine ecosystems, expanding hydrological and oceanic mapping, closing legal loopholes in high seas governance, and securing fair water-sharing deals. He also pressed for implementation of the High Seas Treaty and the inclusion of water and climate strategies in national development plans—especially in vulnerable nations. 'Together, let us unite with purpose and determination to protect our oceans and secure a sustainable, equitable future for all who depend on them.'