Iraq wins Iran nod for tanker passage in Hormuz

Iran has cleared several Iraqi crude carriers to transit the Hormuz waterway after Baghdad pressed its case through multiple channels, the IRNA state agency said Saturday. Securing special permission for those vessels was, according to IRNA, one of the main demands Baghdad raised during a visit to Iraq by Iranian parliament speaker Mohammad Baqer Qalibaf.

Iraqi President Nizar Amedi told a policy conference in Baghdad that Iran had eased the movement of Iraqi oil cargoes across the waterway over the last few days. He also said Baghdad had held talks with Iranian officials about exporting crude via Hormuz, though the issue remains complicated.

Iraq used to produce roughly 4 million barrels a day before the war, yet traffic through the waterway is still far below earlier levels and vessels continue to come under attack. Prime Minister Ali al-Zaidi said Baghdad is increasing shipments via Turkey's Ceyhan port and preparing to load cargoes at Syria's Baniyas and Jordan's Aqaba ports. Meanwhile, Brent crude closed Friday at $94.39 a barrel, up 0.65 per cent, after Trump threatened sanctions on Iran's trading partners.