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Middle East live: Iran allows several Iraqi oil tankers to pass through Hormuz strait
Iran has allowed a number of Iraqi oil tankers to pass through the Strait of Hormuz following repeated requests from Baghdad, Iran’s state news agency reported on Saturday. Meanwhile, the United States and Iran exchanged defiant messages ahead of Monday's scheduled announcement of new US economic sanctions. Follow our liveblog for the latest updates.
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- Why it matters
- Iraq depends on the Strait of Hormuz to export oil; Iran's discretion over passage affects whether Iraqi crude reaches international markets and Iraqi government revenue.
- Most affected
- Iraqi oil exporters — Tankers can now transit the strait after being blocked or delayed.
Iraq's government — Oil exports and associated revenue can resume flowing through a critical chokepoint. - Likely next
- Whether additional Iraqi tankers are allowed through, or whether Iran reverses the policy.
Also reported by: Economic Times