Iraq Declares Full Sovereignty as US-Led Coalition Forces Complete Withdrawal

The coalition's exit shifts Iraq's internal security burden squarely onto national forces at a moment when the country's stability still depends on external support. For markets, the signal is less about oil flows than about political risk premia: a sovereign Iraq unencumbered by foreign troop presence may claim greater autonomy over its security and energy decisions, but it also loses a buffer against resurgence of militant activity. Whether the withdrawal holds and how Iraq manages its security file alone is the open question.