Agents of STRIKE
Aqiria is a breakaway republic of southern Iraq, which split off during the Iraq War. Eaglestar International, a PMC that was operating in the region, conspired with tribal leaders to essentially take control of local oil fields and split the profits.
It is, essentially, a country run by a PMC. While ostensibly a democratic republic, it is effectively operated by Eaglestar International with a council of tribal leaders, in conjunction with Roxxon (who Eaglestar brought in to run the oil wells after they seized them).
The US considers Aqiria to be a diplomatic and political disaster. Kurds in northern Iraq do not accept that a US-based PMC can lead a group of southern tribal leaders to secede from Iraq purely for financial gain, but that the US will not let the Kurds secede from Iraq to form Kurdistan for themselves. It has heavily damaged US-Iraqi-Kurdish relations.
Currently, the US is in a difficult position with Eaglestar and Aqiria. They are officially embargoing the breakaway republic and will not acknowledge them as a real country, but there are other Arab nations that do acknowledge them and will trade with them (possibly just to spite the US). Invading Aqiria to depose Eaglestar by force is politically problematic, so thus far the US is sticking with seizing Eaglestar’s American assets (causing the company to move its headquarters to Aqiria) and other sanctions.