Iraq

Iraq is at the center of a political dispute regarding its next prime minister, balancing its relations between the United States and Iran. The country faces potential economic repercussions, including U.S. sanctions, if Nouri al-Maliki returns to power, which could exacerbate its weak economic growth.

Iraq's government imposed new customs tariffs to reduce its debt and reliance on oil revenues. These tariffs have led to widespread protests and a lawsuit, highlighting the economic challenges the nation faces.

Iraq is at the center of a geopolitical struggle between the United States and Iran. The country's political stability and future relations with both powers are heavily influenced by the prime ministerial nomination. Iraq's energy dependence on Iran is also a significant factor.

Iraq is seeking to increase its oil and gas production and this deal with Chevron Corporation could nearly double output from the West Qurna 2 oilfield. This move also aligns Iraq more closely with Western energy interests.

Iraq's oil production from its southern oilfields has fallen by 70% to 1.3 million barrels per day due to the inability to export via the Strait of Hormuz. This significant drop in production and exports will severely strain the country's finances, as crude sales account for over 90% of its income and nearly all public spending.