Iraq has declared force majeure on foreign-operated oilfields following disruptions related to the Strait of Hormuz, according to sources familiar with the matter.

The force majeure declaration, a legal provision that releases parties from contractual obligations due to extraordinary circumstances beyond their control, affects oilfields operated by international companies in Iraq.

The Strait of Hormuz is a critical waterway through which approximately one-fifth of global oil supplies pass, making it a vital chokepoint for international energy markets. Any disruptions in the region can have significant implications for oil production and transportation.

Iraq is one of the world's largest oil producers and a key member of the Organization of the Petroleum Exporting Countries (OPEC). The country's oil sector is crucial to its economy, with petroleum exports accounting for the vast majority of government revenues.

The declaration comes amid ongoing regional tensions that have periodically affected shipping and energy infrastructure in the Persian Gulf area. Foreign oil companies operating in Iraq include major international firms that have invested billions of dollars in the country's energy sector.