During a visit to the United States on Saturday, July 18th, 2026, Iraqi Prime Minister Ali al-Zaidi signed 48 agreements, memoranda of understanding, cooperation agreements, and partnership declarations with American public and private sector entities. These deals, valued at more than $60 billion according to Reuters, cover sectors including energy, healthcare, and technology.

Key agreements involve cooperation between Iraq’s ministries of oil and electricity and major US companies such as ExxonMobil, KBR, GE Vernova, Shell, and Halliburton. A significant component is the rebuilding of the long-defunct Iraq-Syria crude oil pipeline, a project that could bypass the strategic Strait of Hormuz.

Tom Barrack, the US ambassador to Turkiye, stated that Iraq’s latest oil pipeline agreements would lead to a program “that will make the Strait of Hormuz an afterthought.” Additionally, Chevron signed two agreements focused on boosting Iraq’s oil production, as confirmed by Jake Spiering, Chevron’s president of corporate business development.

Separately, US sanctions have targeted an Iraqi minister accused of aiding Iran oil sales. Meanwhile, Iraqi security forces have arrested 47 officials in an anticorruption crackdown launched by the new Prime Minister.

These developments mark a significant step in Iraq’s international partnerships and efforts to enhance its energy infrastructure and governance.

Sources