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OIL AND GAS
US extends Iraq sanctions waiver until before Biden inauguration
by Staff Writers
Baghdad (AFP) Nov 21, 2020

Washington has granted Iraq a shortened 45-day sanctions waiver to import Iranian gas that will expire days before US President Donald Trump's term ends, an Iraqi official said Saturday.

Baghdad buys gas and electricity from its neighbour Tehran to supply about a third of its power sector, worn down by years of conflict and poor maintenance.

The US blacklisted Iran's energy industry in late 2018 but granted Baghdad a series of temporary waivers, hoping Iraq would wean itself off Iranian energy by partnering with US firms.

The lengths of the exemptions have become a key tool in US policy towards Iraq, demonstrating the level of satisfaction or frustration with Baghdad.

In May, Washington granted Iraq a four-month extension as a gesture of goodwill towards Mustafa al-Kadhemi, who had just formed a cabinet seen as US-friendly.

But when it renewed the waiver in late September, the Trump administration gave Iraq just 60 days.

This time, it went even shorter: 45 days, a top Iraqi official told AFP, expiring around a week before Trump is set to hand over the White House to President-elect Joe Biden.

"They (the Trump administration) wanted a last opportunity to have a say," the official said.

The shorter waiver comes amid concern by Iraqi and Western officials that Trump could use his final days in office to strike at Iran and its allies in Iraq.

The State Department is drawing up plans for a possible closure of the American embassy in Baghdad, which has been targeted by dozens of rocket attacks in the last year.

And two Iraqi officials have said they expect a "bucket list of sanctions" against Iranian interests in Iraq ahead of the White House handover.


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OIL AND GAS
Australian arrested over Iraqi oil bribes worth US$78m
Brisbane, Australia (AFP) Nov 18, 2020
Australian police on Wednesday arrested a man in connection with US$78 million in bribes used to secure lucrative Iraqi oil contracts linked to an alleged international corruption ring. Local media named the man as former Leighton Offshore managing director Russell Waugh. Police claim his company paid bribes through contractors including Unaoil - a Monaco-based firm which last year had two former senior executives plead guilty to being part of a scheme to bribe foreign government officials in s ... read more

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