Iraq’s Council of Ministers approved a mechanism for exporting crude oil through international and local specialized companies and using different export channels.

Based on a statement released after the cabinet meeting, contracts signed under this mechanism will be valid from 10 Shahrivar for a period of three months.

Amid war and disruptions in the Strait of Hormuz, Iraq is seeking to diversify its crude oil export channels and maintain flexibility in marketing.

In an effort to reduce its dependence on shipping lines through the Persian Gulf, Baghdad is trying to develop alternative export routes alongside its southern terminals, including pipeline routes through Turkey and Syria.