Deep in political crisis, Iraq announced the implementation of a nationwide curfew, adding more variables to the oil market
Financial Associated Press, August 30 (Editor Niu Zhanlin) On the evening of August 29, local time, the Iraqi Joint Operations Command announced that a curfew will be implemented in all provinces throughout Iraq. The curfew will begin at 19:00 local time on the 29th and end at Undecided.
After the news came out, international oil prices went up all the way, with Brent crude up more than 3%. Iraq is OPEC’s second largest oil producer, and political turmoil in the country has added new variables to the oil market.
On the same day, Muqtada al-Sadr, the country’s Shiite religious leader, said he would quit politics completely. He also suggested that there was an assassination threat.
Fierce clashes erupted hours after Sadr announced his retirement from politics as hundreds of al-Sadr supporters stormed the prime minister’s office in Baghdad’s “Green Zone”, where official security forces used tear gas and guns to disperse .
At least five people were killed and 19 injured in clashes in the Iraqi capital Baghdad, local media reported.
Iraqi caretaker Prime Minister Mustafa Kadimi issued a statement calling for restraint on all sides of the divide. He said the tension was a consequence of the continued accumulation of political differences. Kadimi also asked the demonstrators to follow the instructions of the security forces and withdraw from government agencies in the “green zone” as soon as possible.
Iraq is currently in a deep political crisis. Following parliamentary elections in October 2021, Sadr’s party has won the election but has been unable to elect a new president and form a government, plunging the country into political uncertainty and turmoil.
In May, Sadr’s coalition withdrew after several failed proposals to form a government, giving other parties and independent lawmakers a chance to form a cabinet. In June, MPs from the coalition announced their resignation against the backdrop of a protracted crisis to form a government.
The UN representative in Iraq called Monday’s protests an “extremely dangerous escalation” and called on demonstrators to evacuate all government buildings and let the caretaker government continue to run the country. “The country is at risk by urging all parties to remain peaceful and refrain from actions that could lead to an escalation.”