India increased its crude oil imports from Iraq to 1.1 million barrels per day in January, while also seeing rises from Russia, Saudi Arabia, UAE, and the US amidst shifting trade dynamics due to sanctions on Russian oil.

Iran will not succumb to pressure and sanctions imposed by Washington, the Islamic Republic's top diplomat said on Tuesday after meeting his Russian counterpart, days after Moscow held initial talks with the U.

Iraqi Foreign Minister Fouad Hussein, right, and and Russian Energy Minister Sergei Tsivilev sign cooperation documents in Baghdad, Iraq, Wednesday, Feb. 26, 2025. (AP Photo/Hadi Mizban)

Oil prices settled higher on Monday as fresh U.S. sanctions on Iran and a commitment to compensate for overproduction by Iraq added to concerns of near-term supply tightness, helping the market recover some of Friday's steep losses.

Iranian Foreign Minister Abbas Araghchi speaks in a joint press conference with his Russian counterpart Sergey Lavrov, in Tehran, Iran, Tuesday, Feb. 25, 2025. (AP Photo)

Russia's huge oil and gas presence in neighboring Iran may give it an advantage in creating synergies in Iraq.

All Kurdish militants in Iraq and Syria, including U.S.-allied Syrian Kurdish forces, must lay down their weapons after the peace call from the jailed leader of the outlawed Kurdistan Workers Party (PKK),

"We have received critical information. Iraqi Foreign Minister Fuad Hussein and Prime Minister Mohammed Shia al-Sudani have assured us that all disputes between the federal government and Kurdistan have been resolved,

Iraqi Kurdistan and the federal government have managed to settle their oil disputes, which would allow Russian companies to restart their projects in the region, Russia's Energy Minister Serge Tsivilev said,

The Iraqi and Kurdish authorities have resolved all existing disagreements between them, which will allow Russian companies to soon resume oil and gas projects in Kurdistan, Russian Energy Minister Sergei Tsivilev told journalists following the Russian-Iraqi Intergovernmental Commission on Trade,

The Iraqi Prime Minister and the Russian Energy Minister discussed cooperation in different fields, including oil and energy industries.