Iraqi Prime Minister Mohammed Shia’ al-Sudani held high-level discussions this week with Russian President Vladimir Putin and Turkish Trade Minister Omer Bolat, signaling Iraq’s focus on bolstering key international partnerships.

Energy Collaboration with Russia

On Thursday, al-Sudani spoke with Russian President Vladimir Putin about enhancing bilateral relations, particularly in energy cooperation. The leaders reaffirmed their commitment to strengthening ties, following up on agreements made during al-Sudani’s visit to Moscow in October 2023.

The Kremlin emphasized the importance of advancing joint energy projects and maintaining global oil market stability through OPEC+ coordination. Iraq, a key OPEC+ member, has played a vital role in global oil production adjustments, including its voluntary cut of 211,000 barrels per day earlier this year, part of the group’s extended reduction strategy until 2025.

Russian energy giants, such as Lukoil, Gazprom Neft, and Rosneft, maintain significant investments in Iraq, including projects in the Kurdistan Region. Despite international tensions surrounding Russia’s invasion of Ukraine, Iraq has maintained a neutral stance, abstaining from UN resolutions condemning Moscow.

Trade Agreements with Turkey

On Wednesday, Turkish Trade Minister Omer Bolat met with Iraqi officials to discuss boosting bilateral trade and economic cooperation. Following the meeting, Bolat announced plans to convene the first Iraq-Turkey joint economic and trade committee in Istanbul this December.

Bolat highlighted Turkey’s support for Iraq’s economic growth and its involvement in major infrastructure projects, including the Development Road and Al-Faw Grand Port. These initiatives aim to improve regional and global trade connectivity.

Turkey remains one of Iraq’s most significant trading partners. From January to October 2024, Turkey exported $10.8 billion worth of goods to Iraq, a 5.3% increase from the previous year. However, Iraq’s exports to Turkey fell to $3.7 billion in the same period, bringing the total trade volume to $14.5 billion.

Balancing Regional Partnerships

The discussions with Russia and Turkey underscore Iraq’s efforts to balance strategic alliances in an increasingly complex geopolitical landscape. By focusing on energy security, trade expansion, and economic collaboration, Iraq is positioning itself as a regional player navigating the challenges of global economic shifts and regional stability.

As Baghdad deepens its ties with Moscow and Ankara, these partnerships are expected to play a pivotal role in Iraq’s development and its contributions to regional and global markets.