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Iraqi Vice President Nouri al-Maliki Calls Fall In Oil Prices ‘Economic War’

Nouri al-Maliki

Nouri al-Maliki, one of the vice presidents in Iraq, told journalists the drop in oil prices was not natural and called it “economic war.”

During a visit to a university on January 15, he did not believe low oil prices were a result of market forces. He cited Russia and Iran as two countries affected by low oil prices and said “Iraq is affected incidentally.”

He said it was worse than a war considering the effects it so far wrought:

The economic war on countries may be more damaging and influential on humanity than conventional wars. The drop in oil prices is not a normal economic situation, it is a political process aimed at destroying the economies of specific countries,

Al-Maliki did not say who was behind this economic war, but his comments are not new.

Iranian President Hassan Rouhani blamed a “conspiracy” for the drop in oil prices without naming any countries. Venezuelan President Nicolas Maduro was the most direct when he said the U.S. was to blame for its “oil war” against Russia.

Oil prices, as of January 19, stand at $48 per barrel, but it is expected it will continue to fall. This holds serious consequences for countries like Iraq.

Iraq relies on oil as it fuels at least 90 percent of its economy. Currently, the country is facing a budget deficit as a result of low prices and is pushing for more oil exports. In fact, the country is willing to give oil for weapons to save money in its budget.

Such problems may explain why al-Maliki believes the drop in oil prices is a result of “economic war.” However, the elephant in the room is the U.S., where over-production of oil contributed to the decline in oil prices. Why al-Maliki did not refer to them is anyone’s guess and it may stem from bitterness for losing U.S. support as well as his position as the prime minister.

Maliki also stated, “The economic war against these countries is complementary to the role of terrorism that kills innocent people. Economic wars are devastating the structure of the targeted countries and result in starvation of their people.”

For someone familiar with state terrorism, al-Maliki’s comments do show he is familiar with the oil situation in Iraq. Where the country will head next is anyone’s guess. With the Islamic State still fighting for control, the future does not look bright.

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Iraqi Vice President Nouri al-Maliki Calls Fall In Oil Prices “Economic War”

Nouri al-Maliki

Nouri al-Maliki, one of the vice presidents in Iraq, told journalists the drop in oil prices was not natural and called it “economic war.”

During a visit to a university on January 15, he did not believe low oil prices were a result of market forces. He cited Russia and Iran as two countries affected by low oil prices and said “Iraq is affected incidentally.”

He said it was worse than a war considering the effects it so far wrought:

The economic war on countries may be more damaging and influential on humanity than conventional wars. The drop in oil prices is not a normal economic situation, it is a political process aimed at destroying the economies of specific countries,

Al-Maliki did not say who was behind this economic war, but his comments are not new.

Iranian President Hassan Rouhani blamed a “conspiracy” for the drop in oil prices without naming any countries. Venezuelan President Nicolas Maduro was the most direct when he said the U.S. was to blame for its “oil war” against Russia.

Oil prices, as of January 19, stand at $48 per barrel, but it is expected it will continue to fall. This holds serious consequences for countries like Iraq.

Iraq relies on oil as it fuels at least 90 percent of its economy. Currently, the country is facing a budget deficit as a result of low prices and is pushing for more oil exports. In fact, the country is willing to give oil for weapons to save money in its budget.

Such problems may explain why al-Maliki believes the drop in oil prices is a result of “economic war.” However, the elephant in the room is the U.S., where over-production of oil contributed to the decline in oil prices. Why al-Maliki did not refer to them is anyone’s guess and it may stem from bitterness for losing U.S. support as well as his position as the prime minister.

Maliki also stated, “The economic war against these countries is complementary to the role of terrorism that kills innocent people. Economic wars are devastating the structure of the targeted countries and result in starvation of their people.”

For someone familiar with state terrorism, al-Maliki’s comments do show he is familiar with the oil situation in Iraq. Where the country will head next is anyone’s guess. With the Islamic State still fighting for control, the future does not look bright.

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Brandon Jordan

Brandon Jordan

Brandon Jordan is a freelance journalist in Queens, NY and written for publications such as The Nation, In These Times, Truthout and more.