Former foes Iraq and Iran have announced the signing of an MOU that will see Iraq to connect its oil supply to Iran via a new pipeline. The two countries fought a bitter eight-year war in the 1980's.
According to Iraqi oil minister Ibrahim Bahr al-Uloum, "We have agreed in principle to an offer from Iran to build a 10 km pipeline across the Shatt Al-Arab to the Iranian port of Abadan."
"We faced no objection from the United States [to the MOU]," added Ibrahim, who confirmed that the pipeline will be established by the end of the year. This project is expected to relieve the transport congestion at the Iraqi port of Basra and help boost the country's oil exports.
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