Iraq, U.S. seal $60 billion in economic agreements and oil pipeline pact

During a Washington visit, Iraqi Prime Minister Ali Falih al‑Zaidi signed 50 agreements and memoranda of understanding with the United States valued at roughly $60 billion. The deals span oil infrastructure, including the reconstruction of a long‑dormant Iraq‑Syria crude pipeline that would provide an alternative export route to the Strait of Hormuz, as well as partnerships in healthcare, communications, finance and other sectors. U.S. Energy Secretary Chris Wright and other officials attended the pipeline signing, and Chevron announced three separate agreements, two to boost oil production and one to fund the new export route. U.S. Ambassador Tom Barrack said the pipeline would make the Hormuz Strait “an afterthought.” Iraqi officials emphasized the aim of attracting long‑term development partners rather than just contractors, and U.S. business leaders expressed interest in Iraq’s reform‑driven investment climate. The agreements are presented as a step toward Iraq’s economic revival and a strategic move to diversify regional energy exports.