Iraqi Newspapers Spotlight Economic Fallout of Hormuz Closure, Diplomatic Efforts, and Nationwide Protests
Baghdad / NINA /- Newspapers published in Baghdad on Monday, March 2, highlighted the potential financial and economic repercussions of the closure of the Strait of Hormuz, as well as Iraq’s efforts to contain the fallout from the escalating military tensions in the region.
Al-Zawraa, the newspaper issued by the Iraqi Journalists Syndicate, focused on the economic consequences Iraq could face if the strait remains closed.
The paper quoted economic expert Nabil Al-Marsoumi as saying that approximately 94% of Iraq’s oil exports pass through its southern maritime outlets, meaning that any closure of the Strait of Hormuz would halt the bulk of exports and reduce monthly oil revenues from around $7 billion to less than $1 billion.
Al-Marsoumi explained that available alternatives are extremely limited, noting that exports via the Turkish Ceyhan pipeline cannot currently exceed 210,000 barrels per day, in addition to limited quantities that can be transported overland to Jordan—volumes insufficient to cover the country’s financial obligations and public sector salaries.
He added that a halt in exports would force Iraq to cut oil production to around one million barrels per day, potentially leading to the shutdown of several oil wells and causing technical damage to reservoir pressure, which would negatively affect future production capacity. Restoring previous production levels, he warned, could take considerable time even after the strait reopens.
The expert further indicated that the repercussions would extend beyond the oil sector to electricity generation, as reduced oil production would lower associated gas output, decreasing supplies of dry gas used to operate power plants and potentially increasing power outages. He stressed that Iraq would be among the countries most severely affected by any prolonged closure of the strait due to its heavy reliance on oil revenues.
The newspaper also cited an informed source as saying that the Ministry of Oil held an emergency meeting chaired by the minister, attended by deputy ministers and senior officials responsible for exports, to discuss measures ensuring the continued flow of Iraqi oil to global markets.
According to the source, the meeting was convened amid escalating military tensions between Iran, the United States, and Israel, and following Tehran’s announcement of the closure of the Strait of Hormuz and the suspension of maritime traffic, prompting authorities to examine alternative options in the event of a prolonged conflict.
Meanwhile, Al-Zaman newspaper followed Iraq’s diplomatic efforts aimed at containing the rapidly escalating military tensions in the region and steering developments back toward diplomatic solutions to prevent further instability and chaos.
The paper highlighted a phone conversation between Prime Minister Mohammed Shia' Al-Sudani and UAE President Mohamed bin Zayed Al Nahyan, which addressed the latest regional developments and the security escalation affecting several countries.
It also referred to a separate call between Al-Sudani and French President Emmanuel Macron. According to an official statement, both leaders stressed the need to avoid the use of force and to adopt dialogue as the sole means of resolving the crisis, underscoring the responsibility of major powers and international organizations in safeguarding regional and global peace.
The newspaper added that Al-Sudani discussed, in a phone call with Egyptian President Abdel Fattah el-Sisi, the evolving security situation and the dangerous escalation threatening the entire region. Both sides emphasized the importance of an immediate cessation of military operations and the adoption of dialogue as the only viable option to resolve outstanding issues, thereby sparing the region and the world the risks of continued conflict.
The statement noted that the two leaders called for enhanced joint Arab coordination and unified efforts to confront current challenges in a manner that protects Arab interests and preserves regional and international security and stability. They also urged the international community, UN institutions, and major powers to assume their responsibilities and work seriously to curb the dangerous escalation and maintain international peace and security.
Separately, the newspaper reported that Foreign Minister Fuad Hussein held talks with his Egyptian counterpart Badr Abdelatty on the repercussions of the ongoing war in the region and its impact on regional security and stability. Both sides stressed the need to continue pursuing a peaceful track through negotiations between the United States and the Islamic Republic of Iran, prioritizing dialogue and diplomacy while avoiding the military option.
Al-Sabah, published by the Iraqi Media Network, reported on demonstrations and protest marches held in several provinces condemning what it described as the US–Zionist aggression against Iran and denouncing the assassination of Supreme Leader Ayatollah Ali Khamenei.
The newspaper stated that a protest vigil was organized in central Najaf, bringing together residents, seminary students, and academics, who called for a unified stance against the escalating developments in the region.
It quoted seminary professor Iyad Al-Khafaji as saying that the incident constituted a violation of state sovereignty, while a citizen affirmed that the expressions of solidarity reflected rejection of attempts to impose dominance in the region.
Al-Sabah added that a large-scale public demonstration took place in Diwaniyah, where participants voiced their anger over the developments and called on the international community to act to halt the escalation. The protest concluded with the burning of the American and Israeli flags.
In Samawah, the center of Al-Muthanna province, thousands of citizens from various districts and sub-districts took part in a unified march that moved through the city’s streets toward the Grand Celebrations Square.
In Maysan province, the local government announced the suspension of official working hours on Monday and declared three days of mourning. The provinces of Dhi Qar and Al-Muthanna also decided to suspend official working hours. / End
ليصلك المزيد من الأخبار اشترك بقناتنا على التليغرام
Al-Zawraa, the newspaper issued by the Iraqi Journalists Syndicate, focused on the economic consequences Iraq could face if the strait remains closed.
The paper quoted economic expert Nabil Al-Marsoumi as saying that approximately 94% of Iraq’s oil exports pass through its southern maritime outlets, meaning that any closure of the Strait of Hormuz would halt the bulk of exports and reduce monthly oil revenues from around $7 billion to less than $1 billion.
Al-Marsoumi explained that available alternatives are extremely limited, noting that exports via the Turkish Ceyhan pipeline cannot currently exceed 210,000 barrels per day, in addition to limited quantities that can be transported overland to Jordan—volumes insufficient to cover the country’s financial obligations and public sector salaries.
He added that a halt in exports would force Iraq to cut oil production to around one million barrels per day, potentially leading to the shutdown of several oil wells and causing technical damage to reservoir pressure, which would negatively affect future production capacity. Restoring previous production levels, he warned, could take considerable time even after the strait reopens.
The expert further indicated that the repercussions would extend beyond the oil sector to electricity generation, as reduced oil production would lower associated gas output, decreasing supplies of dry gas used to operate power plants and potentially increasing power outages. He stressed that Iraq would be among the countries most severely affected by any prolonged closure of the strait due to its heavy reliance on oil revenues.
The newspaper also cited an informed source as saying that the Ministry of Oil held an emergency meeting chaired by the minister, attended by deputy ministers and senior officials responsible for exports, to discuss measures ensuring the continued flow of Iraqi oil to global markets.
According to the source, the meeting was convened amid escalating military tensions between Iran, the United States, and Israel, and following Tehran’s announcement of the closure of the Strait of Hormuz and the suspension of maritime traffic, prompting authorities to examine alternative options in the event of a prolonged conflict.
Meanwhile, Al-Zaman newspaper followed Iraq’s diplomatic efforts aimed at containing the rapidly escalating military tensions in the region and steering developments back toward diplomatic solutions to prevent further instability and chaos.
The paper highlighted a phone conversation between Prime Minister Mohammed Shia' Al-Sudani and UAE President Mohamed bin Zayed Al Nahyan, which addressed the latest regional developments and the security escalation affecting several countries.
It also referred to a separate call between Al-Sudani and French President Emmanuel Macron. According to an official statement, both leaders stressed the need to avoid the use of force and to adopt dialogue as the sole means of resolving the crisis, underscoring the responsibility of major powers and international organizations in safeguarding regional and global peace.
The newspaper added that Al-Sudani discussed, in a phone call with Egyptian President Abdel Fattah el-Sisi, the evolving security situation and the dangerous escalation threatening the entire region. Both sides emphasized the importance of an immediate cessation of military operations and the adoption of dialogue as the only viable option to resolve outstanding issues, thereby sparing the region and the world the risks of continued conflict.
The statement noted that the two leaders called for enhanced joint Arab coordination and unified efforts to confront current challenges in a manner that protects Arab interests and preserves regional and international security and stability. They also urged the international community, UN institutions, and major powers to assume their responsibilities and work seriously to curb the dangerous escalation and maintain international peace and security.
Separately, the newspaper reported that Foreign Minister Fuad Hussein held talks with his Egyptian counterpart Badr Abdelatty on the repercussions of the ongoing war in the region and its impact on regional security and stability. Both sides stressed the need to continue pursuing a peaceful track through negotiations between the United States and the Islamic Republic of Iran, prioritizing dialogue and diplomacy while avoiding the military option.
Al-Sabah, published by the Iraqi Media Network, reported on demonstrations and protest marches held in several provinces condemning what it described as the US–Zionist aggression against Iran and denouncing the assassination of Supreme Leader Ayatollah Ali Khamenei.
The newspaper stated that a protest vigil was organized in central Najaf, bringing together residents, seminary students, and academics, who called for a unified stance against the escalating developments in the region.
It quoted seminary professor Iyad Al-Khafaji as saying that the incident constituted a violation of state sovereignty, while a citizen affirmed that the expressions of solidarity reflected rejection of attempts to impose dominance in the region.
Al-Sabah added that a large-scale public demonstration took place in Diwaniyah, where participants voiced their anger over the developments and called on the international community to act to halt the escalation. The protest concluded with the burning of the American and Israeli flags.
In Samawah, the center of Al-Muthanna province, thousands of citizens from various districts and sub-districts took part in a unified march that moved through the city’s streets toward the Grand Celebrations Square.
In Maysan province, the local government announced the suspension of official working hours on Monday and declared three days of mourning. The provinces of Dhi Qar and Al-Muthanna also decided to suspend official working hours. / End
ليصلك المزيد من الأخبار اشترك بقناتنا على التليغرام
