Russia confirmed that its energy investments in Iraq have reached $19 billion, with growing cultural and scientific cooperation between the two nations. The statement highlighted the significant increase in trade between Russia and the Organization of Islamic Cooperation (OIC) countries, including Iraq, with a 30% rise in total trade last year.
The cooperation will be further emphasized at the upcoming 16th International Economic Forum, the Kazan Forum, to be held from May 13 to 18, 2025, in Russia. The forum will focus on strengthening trade, economic, cultural, scientific, and technical relations between Russia and OIC countries, with a special focus on Iraq’s role.
The energy sector is a key area of partnership, with over $19 billion invested by Russia in Iraq’s oil and gas industry. Additionally, thousands of Iraqis are studying in Russian universities, and advanced training courses are offered to Iraqi diplomats and Ministry of Foreign Affairs employees. The Kazan Forum, in previous years, has facilitated hundreds of agreements and has become an effective platform for international cooperation.
In 2025, the forum will feature more than 100 events, including discussions on international cooperation, business, Islamic finance, transportation, logistics, science, technology, education, and culture. Notably, the event will host the first-ever OIC Ministers of Culture Conference and a major international conference on Islamic finance and investment.
Russia also plans to strengthen transport links, with a focus on developing international transport corridors and enhancing the logistics capabilities of the participating nations.