By Omar Al-Nidawi The U.S.-Iran memorandum of understanding signed last week at Versailles could mark a new opening in relations between Tehran and Washington after months of violent confrontation. However, its regional implications, particularly for Iraq, remain uncertain, and it is still too early to determine whether the agreement will ultimately benefit or harm the country. What is clear, however, is that while Iraq suffered significantly as a result of the conflict, the emerging settlement does not appear to address the damage to Iraq’s economy, security, or sovereignty. The economic costs were severe. The closure of the Strait of Hormuz

Iraq’s oil sector has weathered wars, sanctions, and political turmoil, but nothing prepared the country for the shock it faced when the U.S.–Israeli war with Iran closed the Strait of Hormuz. Overnight, Iraq lost the export route that carries nearly all of its crude—an economic lifeline that funds 90 percent of the state’s budget. The crisis was triggered by war, but as our new report shows, the real story is deeper and far more self‑inflicted. Iraq’s Oil Export Crisis: Risks and Policy Priorities For decades, Iraq has known that relying almost entirely on a single maritime chokepoint was a high-risk

By Winthrop Rodgers When Iraqi voters went to the polls on November 11 to elect a new parliament, some voters made a pragmatic calculation to support a party that could offer them patronage or employment. Others turned to political ideology, ethno-sectarian identity, or tribal affiliation to guide their choice. Despite better-than-expected turnout, millions stayed at home in protest or out of apathy. In the Kurdistan Region, hundreds of thousands resorted to deliberately spoiling their ballots to vent the deep frustrations that have come to define the political landscape there. This tactic has become an established part of the political scene