Loading...

Iraq Turns to Neighbors to Ease Economic Strains

RIYADH—Under pressure from low oil prices, Iraq is seeking billions of dollars in debt relief from Kuwait and moving to bolster ties with Saudi Arabia, as the coronavirus pandemic compels Baghdad to court allies that could help it stave off an economic crisis.

Finance Minister Ali Allawi, who is also deputy prime minister and acting oil minister, said he was proposing that Kuwait delay or cancel some $3 billion that Iraq owes in reparations for the 1990-91 Gulf War, when dictator Saddam Hussein burned Kuwaiti oil fields.

Tagged :

Leave a Reply