Eco
The Iraqi Council of Ministers, on Thursday, approved exempting import and export contracts for oil products from financial audit procedures. The decision came during the Council's thirteenth regular session, chaired by the Prime Minister. The session addressed national developments and reviewed agenda items for issuing necessary directives and resolutions. This exemption aims to meet electricity generation stations' oil product needs and manage surpluses. It takes effect from the decision's issuance date. The measure will remain active until specific maritime navigation conditions in the Gulf subside, and tankers resume normal passage through the Strait of Hormuz. This ensures smooth loading of oil products at Iraqi ports, loading platforms, and floating storage within territorial waters.
