2024-01-18T14:13:11+00:00
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/ Reuters quoted the Iraqi Oil Minister, Hayan Abdul Ghani, on Thursday, as saying that Iraq’s oil exports were not affected by the recent attacks on ships in the Red Sea.
Abdul Ghani said in statements on the sidelines of the World Economic Forum in Davos that about 90 percent of Iraq’s oil exports go to Asia and therefore do not need to pass through the Red Sea.
Houthi attacks on ships in the Red Sea in Yemen have forced many companies to divert shipping routes away from the Red Sea and go via the Cape of Good Hope route around Africa, increasing travel time and costs.
The attacks by the Houthis, which they say are in support of the Palestinians, target a route that accounts for about 15 percent of global shipping traffic and serves as a vital conduit between Europe and Asia.