Oil price data from sources like the U.S. Energy Information Administration or Bloomberg

Trump Plans to Extend Iran Sanctions to Iraq, OPEC's Second-Largest Oil Producer

Dec 3, 2024, 04:33 PM

US President-elect Donald Trump is reportedly planning to extend his administration's 'maximum pressure' sanctions campaign on Iran to neighboring Iraq. According to three sources, the move would target Iraq's oil sector, which is the second-largest crude producer within OPEC and a known hub for oil smuggling, as reported by S&P Global. This development is part of a broader effort to counter Iranian influence in the region.