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National Iranian Oil Company to Open Office in Iraq

The National Iranian Oil Company (NIOC) will open an office in Iraq. (Reuters)
The National Iranian Oil Company (NIOC) will open an office in Iraq. (Reuters)
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National Iranian Oil Company to Open Office in Iraq

The National Iranian Oil Company (NIOC) will open an office in Iraq. (Reuters)
The National Iranian Oil Company (NIOC) will open an office in Iraq. (Reuters)

The National Iranian Oil Company (NIOC) will open an office in Iraq, the semi-official Fars News Agency said on Saturday.

The new office “will facilitate cooperation in the oil industry and the transfer of engineering and technical services” to Iraq, it said.

The announcement comes as Iran faces US sanctions on its oil exports.

Earlier, President Hassan Rouhani said Iran must counter the sanctions by continuing to export its oil as well as boosting non-oil exports.

His comments, carried live on Iranian TV, came a day after Washington acted to force Iran to stop producing low-enriched uranium and expanding its only nuclear power plant, intensifying a campaign aimed at halting its ballistic missile program and curbing its regional power.

“America is trying to decrease our foreign reserves ... So we have to increase our hard currency income and cut our currency expenditures,” Rouhani said.

“Last year, we had we non-oil exports of $43 billion. We should increase production and raise our (non-oil) exports and resist America’s plots against the sale of our oil.”

Friday’s move, which Rouhani made no direct reference to, was the third punitive US action taken against Iran in as many weeks.

Last week, it said it would stop waivers for countries buying Iranian oil, in an attempt to push Iran’s oil exports to zero. The United States also blacklisted Iran’s Revolutionary Guard Corps.

Efforts by the Trump administration to impose political and economic isolation on Tehran began with last year’s US withdrawal from the nuclear deal it and other world powers negotiated with Iran in 2015.

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Trudeau Says He Will Step Down after New Liberal Party Leader Named

Canadian Prime Minister Justin Trudeau speaks during a news conference at Rideau Cottage in Ottawa, Canada on January 6, 2025. (AFP)
Canadian Prime Minister Justin Trudeau speaks during a news conference at Rideau Cottage in Ottawa, Canada on January 6, 2025. (AFP)
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Trudeau Says He Will Step Down after New Liberal Party Leader Named

Canadian Prime Minister Justin Trudeau speaks during a news conference at Rideau Cottage in Ottawa, Canada on January 6, 2025. (AFP)
Canadian Prime Minister Justin Trudeau speaks during a news conference at Rideau Cottage in Ottawa, Canada on January 6, 2025. (AFP)

Canadian Prime Minister Justin Trudeau announced on Monday that he will step down as leader of the ruling Liberals after nine years in office but will stay on in his post until the party chooses a replacement.

Trudeau, under heavy pressure from Liberal legislators to quit amid polls showing the party will be crushed at the next election, said at a news conference that parliament would be suspended until March 24.

That means an election is unlikely to be held before May and Trudeau will still be prime minister when US President-elect Donald Trump - who has threatened tariffs that would cripple Canada's economy - takes office on Jan. 20.

"This country deserves a real choice in the next election, and it has become clear to me that if I'm having to fight internal battles, I cannot be the best option in that election," Trudeau said.

Trudeau, 53, took office in November 2015 and won reelection twice, becoming one of Canada's longest-serving prime ministers.

But his popularity started dipping two years ago amid public anger over high prices and a housing shortage, and his fortunes never recovered.

Polls show the Liberals will badly lose to the official opposition Conservatives in an election that must be held by late October, regardless of who the leader is.

Parliament was due to resume on Jan. 27 and opposition parties had vowed to bring down the government as soon as they could, most likely at the end of March. But if parliament does not return until March 24, the earliest they could present a non-confidence motion would be some time in May.

Trudeau said he had asked Canada's Governor General, the representative of King Charles in the country, to prorogue parliament and she had granted that request.

Trudeau had until recently been able to fend off Liberal legislators worried about the poor showing in polls and the loss of safe seats in two special elections last year.

But calls for him to step aside have soared since last month, when he tried to demote Finance Minister Chrystia Freeland, one of his closest cabinet allies, after she pushed back against his proposals for more spending.

Freeland quit instead and penned a letter accusing Trudeau of "political gimmicks" rather than focusing on what was best for the country.

"Removing me from the equation as the leader who will fight the next election for the Liberal Party should also decrease the level of polarization that we're seeing right now in the House and in Canadian politics," Trudeau said.

The Conservatives are led by Pierre Poilievre, a career politician who rose to prominence in early 2022 when he supported truck drivers who took over the center of Ottawa as part of a protest against COVID-19 vaccine mandates.