Iraqi oil minister Hayan Abdel-Ghani told Reuters on Thursday that his country’s oil exports have not been impacted by recent attacks on ships in the Red Sea.

Abdel-Ghani, who spoke on the sidelines of the World Economic Forum in Davos, said that about 90% of the country’s oil exports go to Asia and therefore do not need to go through the Red Sea.

Attacks by Yemen’s Houthis on ships in the Red Sea have forced many companies to divert cargoes around Africa, adding to journey times and costs.
Source: Reuters (Reporting by Maha El Dahan in Davos, writing by Ahmad Ghaddar in London; editing by Jason Neely)