Iraq Government: Restoring oil production in Iraq requires time and investment. Media: ECB President forecasts fuel crisis due to situation around Iran will persist for years. Iranian Experts: Divergence between the U.S. and Israel intensifies amid attacks on Iran’s energy infrastructure.

Sputnik News, Baghdad, March 26 — Iraq's Prime Minister's Economic Advisor Mazzal Muhammad Saleh told Sputnik that the interruption of oil production caused by the Iran situation has inflicted losses on Iraq's oil industry, and restoring output to previous levels will require both investment and time.

Saleh said: "Shutting down oil fields is not like turning off a car engine. Sudden shutdowns and prolonged idling cause long-term technical problems for oil fields. Even after the Strait of Hormuz resumes navigation, restoring oil production to previous levels will take time and substantial investment."

According to The Economist magazine, ECB President Christine Lagarde warned during an interview with the publication that the fuel crisis triggered by the situation around Iran could last for years, with no immediate improvement expected in the short term.

The magazine quoted Lagarde as saying: "Bank (ECB – editor’s note) experts believe 'enormous damage has already been done,' and there is 'no chance' of restoring Persian Gulf energy supplies lost within months. The issue may persist for [several years]."

Previously, Lagarde had cautioned that global oil reserves are dwindling, and the impact from declining liquefied natural gas (LNG) supply has not yet fully manifested. She also stated that the energy shock to the eurozone caused by conflicts in the Middle East will eventually be borne by companies, employees, and nations in some form.

International affairs researcher Andi Shae Kazeemi, speaking to Sputnik’s Iran branch, said that despite Trump’s announcement of a five-day ceasefire, attacks on Iran’s energy infrastructure continue, indicating an increasing rift between the U.S. and Israel.

Experts noted that while the U.S. pretends not to be involved in these attacks, their continuation proves that the U.S. stance is being ignored—indicating a weakening of American control over Israeli actions.

Kazeemi emphasized that Israel is increasingly acting independently, believing it does not need to consult the U.S. on tactical steps when facing what it perceives as existential threats. Israel’s logic holds that any ceasefire would only strengthen its enemies.

Experts warn that such independence may undermine strategic trust among allies, especially if Israel’s actions drag the U.S. into a larger crisis. In this context, strikes against Iran’s infrastructure not only threaten regional security but also erode the unity of the U.S.-Israel alliance.

On February 28, the U.S. and Israel began targeting locations inside Iran. Iran subsequently launched retaliatory strikes against Israeli territory and U.S. military targets in the Middle East.

As a result, due to the closure of the Strait of Hormuz—the critical route through which Persian Gulf countries export oil and liquefied natural gas to global markets—fuel prices have risen across most countries worldwide.

Original article: toutiao.com/article/1860751708711936/

Disclaimer: This article reflects the personal views of the author.