A setback for both Iraqi nationalists and the anti-US/anti-Zionism parties in the region. How serious a setback depends on the details of the non-binding agreement so far, which are for now secret, and the political situation in Iraq during negotiations.
The Associated Press reported from Baghdad that the proposal would give America preferential treatment for investments in Iraq - a potential bonanza for oil companies - in return for long-term security guarantees, including defence against internal coups.
I have not seen the Iraqi response. Presumably the result of the ultimate negotiations legally would have to pass in Iraq's parliament. That is a legality that the United States will try as hard as possible to ignore.
More information will become available in the coming days, such as the reaction of the Sadrists and the Sunnis which I expect to be angry.
