Iraqi Oil Minister: Oil Exports Unaffected by Red Sea Attacks

Iraqi Oil Minister Hayyan Abdul-Ghani stated to Reuters on Thursday that his country's oil exports were not affected by recent attacks on ships in the Red Sea. Abdul-Ghani mentioned in statements at the World Economic Forum in Davos that approximately 90 percent of Iraq's oil exports go to Asia and therefore do not need to pass through the Red Sea. Attacks by the Houthis in Yemen on ships in the Red Sea have forced many companies to reroute their shipping away from the Red Sea and pass around the Cape of Good Hope in Africa, resulting in increased travel times and costs.