Sanctioned Russian company moves toward Iraq exploration deal
Iraq's Oil Ministry has initialed a contract for oil and gas exploration in Anbar province with Stroytransgaz, a Russian company that has been targeted by U.S. sanctions.
"The ministry has sent the contract to the [Cabinet's] Ministerial Council on Energy to be approved, so we can proceed to sign the final contract and start the exploration, development, and production operations at the site," said Abdul Mahdy al-Ameedi, the director general of the Oil Ministry's Petroleum Contracts and Licensing Directorate (PCLD), in a statement released after a signing ceremony in Baghdad on Wednesday.
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