The key facts
- Tom Barrack called Iraq a possible 'bridge' in the US–Iran conflict
- He proposed a target of 10 million barrels of oil per day and pipeline construction
- He named the lack of clear law within Iraq itself as the main obstacle to investment
'Magic key' instead of confrontation
US Special Envoy for Iraq and Syria Tom Barrack, who also serves as US Ambassador to Turkey, said that Baghdad could play the role of a link between Washington and Tehran, despite the American blockade against Iran. 'You don't necessarily have to be an adversary of Iran,' he said at the Chatham House Iraq Initiative forum. 'You can become the magic key that opens the door.'
Oil, pipelines and investors
Barrack proposed that Iraq set a goal of producing 10 million barrels of oil per day and seek foreign investors for pipelines that would deliver oil to buyers. According to him, the country will continue to use the Strait of Hormuz, but additional pipelines would create prosperity, which he called the only answer to Iraq's challenges. He recalled that after the start of the war with Iran in February, the region faced the consequences, and emphasized: 'All delivery mechanisms are needed — the strait, ships, but outlets for the remaining six to seven million barrels are absolutely essential.' American, French, Italian and Middle Eastern companies, he said, have expressed willingness to help.
The main obstacle is inside the country
The ambassador described the 'lower bound' of success: Iraq needs to use its unique assets — geography, history and reserves — but for this it needs rules capable of reassuring investors. 'Who would invest if there is no defined, understandable rule of law?' he said. 'In my opinion, the main obstacle is not other countries, but your own country.'
