Iraq sanctions waiver discussions gained momentum this week as Baghdad held further talks with Washington. The Iraq sanctions waiver request seeks six months of relief to help Lukoil finalize the sale of its stake in the West Qurna-2 field. Officials say the move aims to protect production stability and prevent disruptions in one of Iraq’s largest energy assets.
Iraqi energy officials confirmed that the government continues direct dialogue with the U.S. Treasury Department. They stressed that the request offers crucial time for Lukoil to transfer its share without harming field operations. Moreover, officials note that sanctions on Russian oil companies increased pressure on Baghdad to create a temporary solution.
Lukoil recently declared force majeure on the project. The announcement created fresh uncertainty around West Qurna-2 and triggered concerns about operational continuity. Iraqi officials say they understand the urgency and want to manage the transition responsibly.
The oil ministry stated that it will not buy Lukoil’s stake. Officials explained that the field requires significant technical capacity. They argue that state-run companies cannot fully manage a project of this scale. Therefore, they continue to encourage private investors to step forward.
According to officials, Iraq already identified three potential buyers. One company is Chinese, while two others are Western energy groups. However, they declined to share names, citing ongoing negotiations. They also stressed that the Iraq sanctions waiver remains essential to complete the sale without delays.
Prime Minister Mohammed Shia al-Sudani met former Lukoil CEO Vagit Alekperov in Baghdad. Sources close to the meeting said both sides discussed the future of the company’s stake. They also addressed the importance of protecting joint investments during a sensitive period.
Additionally, the discussions reviewed potential outcomes if the waiver fails. Officials warn that losing Lukoil without an immediate buyer could disrupt operations. They said such a scenario may harm production targets and reduce government revenues.
Energy analysts say the Iraq sanctions waiver request reflects the region’s complex geopolitical landscape. They also highlight Iraq’s need to balance American sanctions pressure with its long-standing partnerships with global companies.
Furthermore, experts believe that Iraq wants to demonstrate reliability to international investors. They argue that a smooth transition at West Qurna-2 could build trust and attract more investment into Iraq’s upstream sector.
Negotiators expect several more rounds of talks with U.S. officials. They also hope to finalize a framework before year-end. They say the waiver provides breathing room without undermining Iraq’s commitments to global partners.
For now, Iraq continues to seek stability in the vital oilfield. Officials insist they will push hard to secure the Iraq sanctions waiver and protect national energy interests.
