Prime Minister Ali Faleh Al-Zaidi Chairs the 15th Regular Session of the Council of Ministers ••••• Prime Minister Ali Faleh Al-Zaidi chaired this evening, Tuesday, the 15th regular session of the Council of Ministers, during which the general situation in the country was discussed, the agenda items were reviewed, and the necessary decisions were taken. As part of the government’s measures to increase export and import capacities, the Council of Ministers approved the relevant recommendation concerning the purchase of crude oil at either the price set by the State Organization for Marketing of Oil (SOMO) or the price stipulated in the federal budget, whichever is lower, with a 30% discount, determined annually, effective September 1, 2026. Payments shall be made to the Public Treasury, and the financial implications shall be reviewed in detail. The implementation of the aforementioned study shall be based on lifting subsidies on the prices of petroleum products for all sectors, except for the main products supplied exclusively to citizens (gasoline, gas oil, kerosene, and liquefied petroleum gas), effective September 1, 2026. Any subsidy granted to any sector shall reduce the Public Treasury’s share. The proposed mechanism shall be submitted to the Federal Board of Supreme Audit for adoption of the amended accounting policy to avoid future audit observations. Also in the oil sector, the Council of Ministers voted to approve the mechanisms for exporting Iraqi oil through specialized international and local companies and via various outlets, with contracts to be concluded for a period of three months starting September 1, 2026. The Council of Ministers also approved the recommendation concerning exceptional approvals to increase export and import capacities, authorizing the Minister of Oil to establish additional transportation routes for contracts currently concluded and in force and to renew those contracts. The Minister was also authorized to approve the import of petroleum products when necessary to ensure stable supplies and prevent crises. The Oil Pipelines Company shall complete the expansion of loading platforms. Approval was also granted to commence work before signing the contracts for the rehabilitation of the IT2A station and an auxiliary unloading station for the IT1 station with a capacity of 300,000 barrels per day, to ensure the rapid supply of imported raw materials without compromising the principles of competition and transparency. As part of measures to regulate oil sales mechanisms, the Council of Ministers approved the recommendation concerning advance payment mechanisms for the value of Iraqi oil sales and the procedures for purchasing companies to deposit the value of shipments and advance payments into the designated accounts of the Ministry of Finance and the Central Bank of Iraq. The Council of Ministers approved the continued payment of dues to the Basrah Gas Company for the value of its products delivered to the South Gas Company, given that it is a self-financing company, and approved the amendment of Council of Ministers Resolution No. 308 of 2026. The Council of Ministers approved a donation of IQD 5 billion by the Ministry of Oil to the Ministry of Health, to be allocated for the purchase of medicines and medical and laboratory supplies. In the electricity sector, the Council of Ministers approved the recommendation of the Central Committee for Review and Approval of Contract Awards at the Ministry of Electricity concerning the adoption of Request for Proposal (RFP) documents for the electricity distribution sector. To strengthen fee and tax collection procedures, the Council of Ministers approved the advance collection of estimated customs duties and tax deposits on imported goods, effective October 1, 2026.