Putin announces the size of Russia’s investments in Iraq: $19 billion and 50 operating companies
Putin announces the size of Russia’s investments in Iraq: $19 billion and 50 operating companies
2023-10-10 06:25
Shafaq News/ On Tuesday, Russian President Vladimir Putin revealed the volume of investments by Russian companies in Iraq, noting that it amounts to 19 billion dinars, in addition to 50 companies operating in Iraq.
The Russian President’s statement came during discussions held Tuesday in Moscow with Iraqi Prime Minister Muhammad Shia’a al-Sudani, who arrived in the Russian capital earlier today.
Putin indicated that Moscow and Baghdad are successfully coordinating work within the framework of “OPEC+” with the aim of achieving stability in global energy markets. He said: “We are coordinating work within “OPEC+” and we are doing so with great success with the aim of achieving stability of the situation in global markets, and I hope that we will continue. In working with this approach.
The Russian President added that the energy sector is a major area of cooperation between Russia and Iraq, a member of the Organization of the Petroleum Exporting Countries (OPEC).
Regarding the size of Russian investments in Iraq, Putin said, “Our major companies operate in your country (Iraq) with great success. The total investments of our companies amounted to about 19 billion dollars. There are prospects for further development of cooperation.”
Moscow and Baghdad have strategic and historical relations, and approximately 50 Russian companies currently operate in Iraq, including Lukoil and Gazprom Neft, the oil arm of the Russian company Gazprom.
Russia is currently implementing a large project to rebuild and modernize a factory for the production of glass and ceramic products in the city of Ramadi in Anbar Governorate. A Russian industrial alliance has begun the practical implementation of this project for the benefit of the Iraqi Ministry of Industry and Mineral Resources.
shafaq.com
