Oct 10, 2023. Posted by Balkan Periscope - Hellas
Russian President Vladimir Putin revealed on Tuesday the volume of Russian
investments in Iraq, stating that it amounts to $19 billion, with over 50
Russian companies operating in Iraq.
Putin made this announcement during talks held on Tuesday in Moscow with Iraqi Prime Minister Mohammed Shia Al Sudani, who arrived in the Russian capital earlier in the day.
Putin pointed out that Moscow and Baghdad are successfully coordinating
within the OPEC+ framework with the aim of stabilizing global energy markets,
stating, "We are coordinating our efforts within OPEC+ and doing so very
successfully to achieve stability in the global markets, and I hope that we
will continue to work in this direction."
The Russian president also added that the energy sector is a key area of
cooperation between Russia and Iraq, which is a member of the Organization of
Petroleum Exporting Countries (OPEC).
Regarding the volume of Russian investments in Iraq, Putin stated, "Our
major companies are operating very successfully in Iraq, with our total
investments amounting to approximately $19 billion. There are prospects for
further developing our cooperation."
Moscow and Baghdad share strategic and historical ties, with nearly 50
Russian companies currently operating in Iraq, including "Lukoil" and
"Gazprom Neft", the oil subsidiary of the Russian company
"Gazprom."
Russia is currently executing a large project to rebuild and modernize a
glass and ceramic products manufacturing plant in the city of Ramadi in
al-Anbar governorate. An industrial alliance of Russian companies has begun
practical implementation of this project on behalf of the Iraqi Ministry of
Industry and Minerals.
Shafaq News