Biden renews decree protecting US oil companies in Iraq

US President Joe Biden has stated that the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303 of May 22, 2003, is to continue in effect beyond May 22, 2021, Report informs referring to the White House website.

“Obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States. Therefore, I have determined that it is necessary to continue the national emergency declared in Executive Order 13303 with respect to the stabilization of Iraq,” reads the document.

The purpose of the national emergency was to provide legal protection for the interests of the US companies operating in the oil sector of the Iraqi economy. In addition, special conditions were created for the UN-established and Washington-controlled Iraq Relief and Reconstruction Fund (IRRF).