Published Jul 20, 2026, 9:51 AM EDT
Iraq has signed 48 deals with US companies, including a pipeline that bypasses the Strait of Hormuz, as the two countries mark a turning point.
Iraqi Prime Minister Ali al-Zaidi oversaw the signing of 48 agreements, memorandums of understanding, cooperation pacts and partnership declarations with U.S. companies during his visit to Washington, according to an official statement from the Iraqi prime minister’s media office. The preliminary deals, valued at more than $60 billion across energy, healthcare and technology, were finalized Friday at a U.S.-Iraq business summit hosted by the U.S. Chamber of Commerce. The package marks a clear transition after more than two decades of U.S. military engagement in Iraq. Remaining American forces are scheduled to complete their withdrawal by Sept. 30 under a prior bilateral agreement, shifting the relationship from a residual security mission to commercial partnerships.
Secretary Pete Hegseth hosts a bilateral meeting with Iraqi Prime Minister Ali al-Zaidi at the Pentagon, Washington, D.C., July 14, 2026. (Official photo by U.S. Navy Petty Officer 1st Class Eric Brann)
Energy Deals and Pipeline Projects Lead the Packages
