According to the ministry's latest data, Iraq earned a record $11 billion through oil sales in March, while oil production has surpassed 100 million barrels.
"Iraq is one of the oil exporters and is intending to use its role to satisfy demands of the global market, especially European countries," Khalaf said, noting that Iraq is trying to strengthen its positions and enter new markets amid the crisis in Ukraine and decrease in fuel exports from Russia.
On 24 February, Russia launched a military operation in Ukraine after the breakaway republics of Donetsk and Lugansk appealed for help in defending themselves against Ukrainian troops. In response, the West and its allies rolled out a comprehensive sanctions campaign against Moscow, which includes airspace closures and restrictive measures targeting numerous Russian officials and entities, media and financial institutions.