Washington's Sanctions Shift Iraq Oil to U.S. Firm

The article discusses the shift in influence at the West Qurna 2 oil field in Iraq from Russia to the United States, prompted by American sanctions against the Russian company Lukoil, which previously owned 75% of the field and was one of Russia's largest oil producers. Following Lukoil's halted investments and the implementation of sanctions, the Iraqi government transferred management of the field to Basra Oil, paving the way for American company Chevron to enter the project and engage in active negotiations since February 2026, as part of a broader strategy to bolster U.S. influence in Iraq’s energy sector. The field is among the largest in the world, with reserves of 14 billion barrels and a current production of approximately 460,000 barrels per day, with plans to increase output to 800,000 barrels daily. This change in management reflects a broader shift in regional power dynamics, as Washington continues to strengthen its economic and strategic presence in Iraq, while Russian companies face mounting pressure due to Western sanctions.

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