08-05-2025
Russian Ambassador: Moscow boosts Iraq's energy investments
Shafaq News/ Russian oil and gas investments in Iraq have risen to $20 billion, up from $19 billion, marking what Ambassador Elbrus Kutrashev on Wednesday described as a sign of strengthening economic and energy ties between the two countries.
In an interview with Shafaq News Agency, Kutrashev clarified that three Russian companies are currently operating in Iraq's oil sector, while a fourth is preparing to enter the gas market.
A report from the Primakov Center for Foreign Political Cooperation in Moscow highlighted growing ties between Iraq and Russia, particularly in energy and logistics.
Both countries are working to align Iraq's 'Development Road' initiative with Russia's 'North-South Corridor' to enhance trade between Asia and Europe, despite ongoing political and security challenges in Iraq.
In earlier remarks, Kutrashev praised Iraq's fight against international terrorism, calling it a victory over a threat 'no less evil than fascism and Nazism.'
