15 August 2006 Iraq and Iran signed a memorandum of understanding (MOU) on Sunday to swap Iraqi Basrah oil for refined products, the second such deal since July 2005. The two Mideast nations also agreed over the weekend to jointly develop shared oil fields, an issue that is expected to raise suspicion by critics of an Iran-Iraq alliance. With Iraq in the midst of its worst fuel crisis since 2003,…
Tag: Shatt al-Arab
Not-So-Blind Eye
21 April 2000 For years, Iran turned a blind eye as Iraq smuggled thousands of barrels of oil a day across the Iranian part of the Shatt al-Arab waterway into the Gulf. No longer. A combination of factors, including Tehran’s very understandable desire to protect its own interests, has prompted a well-publicized clampdown on the illegal trade, leading Tehran to seize 10 vessels in one 24-hour period two weeks ago….