Expectations are that oil flow between Iraq and Turkey will continue, with discussions underway to extend the agreement.

Two Turkish sources suggested on Thursday that crude oil would continue to flow from Iraq to the Turkish port of Ceyhan, as Baghdad and Ankara continue their negotiations to extend the agreement to operate the pipeline for an additional 12 months, according to Reuters. DailyNews Reports

One of the sources said that the Iraq-Türkiye pipeline, which is the only functioning outlet for Iraqi oil exports, will continue its operations while talks between the two sides continue to reach a new agreement.

The decades-long bilateral agreement expired last Monday, but Baghdad and Ankara did not sign a new extension during Iraqi Prime Minister Ali Zaidi’s visit to Turkey and his meeting with President Recep Tayyip Erdogan on Tuesday.

Neither the Turkish Ministry of Energy nor the Iraqi Ministry of Oil has issued any official comment on the progress of the negotiations so far.

Turkish Energy Minister Alparslan Bayraktar had announced earlier this month that the two countries had reached a preliminary understanding on extending the agreement for a year, while Turkish President Recep Tayyip Erdogan confirmed last Tuesday that the two sides are seeking to sign a comprehensive energy cooperation agreement “as soon as possible”.

The anticipated extension is expected to provide time to complete negotiations on a more comprehensive agreement, given Turkey’s desire to fully utilize the 1.5 million barrel-per-day pipeline, while also exploring the possibility of extending it to oil fields in southern Iraq.

Turkish data showed that the pipeline is currently transporting about 170,000 barrels of oil per day.

Shafaq.com

Liquidity shortages threaten Iraqi private banks and push towards mergers to settle obligations.

A banking source revealed on Thursday that there is a shortage of liquidity in a number of private banks in Iraq, attributing this to the limited deposits and the decline in citizens’ confidence in private banks, which has weakened their ability to meet some local and international obligations and the requirements of the Central Bank of Iraq. DailyNews Reports

The source told Shafaq News Agency that this situation may push towards the merger of a number of banks, noting that mergers also come within the requirements of reforming the banking sector and trends related to international standards.

He added that banks are required to have financial assets and insurance with the Central Bank of Iraq, explaining that a bank that suffers from weak assets or is unable to meet its obligations towards citizens may be subject to closure, provided that the rights of depositors are dealt with in accordance with the approved principles and controls.

The source explained that merging struggling or liquidity-deficient banks does not necessarily mean the loss of citizens’ money, as financial obligations and rights remain in place, but the recovery of funds may not be as quick and easy as depositors expect.

He pointed out that addressing the liquidity shortage problem requires restructuring the banking sector and strengthening confidence in local banks, in addition to increasing their ability to comply with regulatory and financial requirements, which contributes to reducing the risks of default and protecting depositors’ funds.

Shafaq.com

The “Sadiqun” bloc requests an emergency parliamentary session and the summoning of al-Zaydi, ministers, and security leaders.

On Thursday, the “Sadiqun” parliamentary bloc submitted a request to the Speaker of Parliament to hold an emergency session within 48 hours to discuss the targeting of the headquarters of the Popular Mobilization Forces and what it described as a “violation of national sovereignty,” which included a number of demands and governmental and parliamentary measures. DailyNews Reports

A document signed by the head of the parliamentary bloc, Uday Awad Kazem Mahmoud Al-Hussein, and received by Shafaq News Agency, stated that the request was based on the provisions of the Constitution and the internal regulations of the House of Representatives, in light of the attack that targeted, at dawn on Wednesday, July 29, 2026, the headquarters of the Popular Mobilization Forces in seven governorates, which resulted in the killing of at least 20 members of the organization and the injury of 32 others, in addition to material damage.

The bloc demanded that the session be dedicated to discussing the attack and its repercussions, and that the Prime Minister, Commander-in-Chief of the Armed Forces (Prime Minister Ali al-Zaidi), the Ministers of Defense and Foreign Affairs, the National Security Advisor, the Head of the Popular Mobilization Forces, and the Head of the National Intelligence Service be hosted to provide an official briefing on the incident and the measures taken.

It also called for the formation of a joint parliamentary investigation committee from the Security and Defense and Foreign Relations Committees, with membership from the Legal Committee and the Martyrs and Victims Committee, to investigate the circumstances of the attack and evaluate the air defense system, and to submit its report within 15 days.

The request included voting on a parliamentary resolution that included condemning the attack, obligating the government to provide a timetable for the withdrawal of foreign forces from Iraq, reviewing security agreements and understandings, submitting a complaint to the UN Security Council, the UN Secretary-General, the Arab League and the Organization of Islamic Cooperation, in addition to summoning the heads of the relevant diplomatic missions and handing them a protest note, and compensating the families of the dead and wounded.

The bloc also demanded that the draft laws on service and retirement for the Popular Mobilization Forces and the structure and organization of the Popular Mobilization Forces be included among the legislative priorities, in addition to obligating the government to submit an urgent plan to develop defense capabilities and purchase air defense systems, with a report to be submitted to the House of Representatives within 30 days.

According to the document, the request was signed by 28 members of the Sadiqun parliamentary bloc, noting that the bloc will later submit supplementary signatures from allied parliamentary blocs to complete the constitutionally stipulated quorum.

On Wednesday morning, the headquarters of the Popular Mobilization Forces in various parts of Iraq were subjected to a Saudi-American bombing that resulted in dozens of deaths and injuries, amid popular and official condemnation.

Shafaq.com

Three giant oil tankers docked at Basra port for loading with a capacity of 5 million barrels.

A source at the Iraqi Ports Company reported on Thursday that three crude oil tankers with a capacity of 5 million barrels have docked at the port of Basra in preparation for loading and sailing to global oil markets. DailyNews Reports

The source told Shafaq News Agency that the three tankers (which are chartered by Indian and Chinese nationals) docked at the single-point mooring berths in the Basra oil port, including two tankers with a capacity of two million barrels each, and a third tanker with a capacity of one million barrels.

The source added that other tankers will arrive successively, including tankers on their way to Iraqi territorial waters and others in the waiting area to enter the port.

This comes in conjunction with what the Iraqi Ministry of Oil announced last Tuesday, that the country’s crude oil exports exceeded 32 million barrels, with financial revenues amounting to more than $2.3 billion during the past two months of May and June, based on the final statistics of the Iraqi Oil Marketing Company (SOMO).

The release of these statistics comes after a period of not regularly disclosing export and revenue data, following regional tensions that affected energy supply chains and maritime navigation in the region during the past months.

In this regard, oil expert Hamza Al-Jawahiri explained in an interview with Shafaq News Agency that the irregularity of export operations and the difficulty in stabilizing exported quantities have affected the mechanism for issuing official statistics, indicating that the lack of regular confirmation of export data limits transparency and makes it difficult to accurately assess the performance of the oil sector and the revenues achieved.

It is worth noting that the Ministry of Oil had stopped publishing regular monthly statistics on exports and revenues since the release of the report for last April.

Shafaq.com

Iraqi private banks are facing increasing pressure to meet the requirements of the US Federal Reserve and have sanctions lifted.

Banking sources revealed on Thursday new and urgent directives to private banks in Iraq, aimed at completing the requirements that were raised during Prime Minister Ali al-Zubaidi’s visit to Washington, in preparation for completing the procedures to lift the sanctions and restrictions imposed on a number of banks. DailyNews Reports

The sources told Shafaq News Agency that the requirements that were emphasized include strengthening anti-money laundering and counter-terrorism financing measures, compliance and governance, tightening control over dollar movement, preventing smuggling and illegal transfers, as well as implementing a package of new banking instructions and procedures within specific time limits.

According to the sources, private banks have begun implementing the urgent instructions issued by the Central Bank of Iraq in this regard, amid warnings that failure to complete the requirements within the specified timeframes may lead to the bank being deprived of international banking facilities and transactions, which requires the administrations to expedite the completion of the required files and procedures.

In this context, a number of employees in private banks reported that the administrations imposed a high work pace to complete the requirements within the specified period, noting that some employees work about 12 hours a day due to the volume of procedures and files that need to be completed.

The employees added that the continuous work pressure caused, according to their statements, a state of extreme exhaustion and recorded cases of fainting among some employees as a result of the large working hours and deductions, while the banks are communicating with the regulatory authorities to complete the required requirements within the specified timetable.

These measures come as part of the Iraqi banking sector’s efforts to comply with international standards and strengthen its relationship with the global financial system, in light of the tightening of US control over the movement of dollars and financial transfers related to Iraq.

The media office of Prime Minister Ali al-Zaidi announced on July 18 that the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, held a series of high-level meetings with officials at the US Treasury, which resulted in a common understanding to return restricted Iraqi banks to foreign correspondent banking channels not linked to the US dollar.

For his part, the governor of the central bank confirmed that there are 7 banks currently qualified to return and operate within the external banking correspondent channel not linked to the dollar (in other currencies), so that they will have the right later to deal in the US dollar after passing other stages of compliance and governance requirements.

This came in conjunction with the Prime Minister’s welcoming of the understanding reached between the Central Bank of Iraq and the US Treasury Department, describing it as “an important step in the path of reforming the banking sector and enhancing its integration into the global financial system.”

It is noted that at the beginning of 2024, an official document issued by the Central Bank of Iraq showed that 8 Iraqi banks were banned from participating in the foreign currency buying and selling window.

The document, which was reviewed by Shafaq News Agency, included a ban on those banks from participating in the foreign currency buying and selling window and from dealing in dollars.

The eight banks are: (Iraqi Investment Bank, Kurdistan International Islamic Bank, Iraqi Union Bank, Al-Huda Bank, Ashur International Investment Bank, South Islamic Bank for Investment and Finance, Arab Islamic Bank, and Hammurabi Commercial Bank).

Shafaq.com

“There’s no money”… Iraqi minister: The government is only thinking about securing salaries

Iraqi Health Minister Abdul Hussein Al-Moussawi acknowledged on Thursday that the government is facing a liquidity crisis that has made securing salaries its priority, while confirming that the General Company for Marketing Drugs and Medical Supplies (Kimadia) has received only 15% of its budget, which has led to its bankruptcy, the disruption of new contracts, and a threat to drug supplies.

During his speech in a video recording, which was reviewed by Shafaq News Agency, Al-Moussawi stood up from his seat and addressed the audience, saying: “There is no money… the government’s only concern is to provide salaries from the 1st to the 29th of the month,” indicating that the value of the salaries that need to be provided monthly amounts to “10 trillion and 800 million dinars per month.” DailyNews Reports

The minister explained that the decline in revenues from the currency auction window to between one billion and one and a half billion dollars per month, equivalent to about 2.2 trillion dinars, was directly reflected in the financing of the “Kimadia” company, which he said had received only 15% of its annual dues.

He added that the financial crisis led to a halt in the signing of new contracts for the current year, and prompted supplier companies to stop shipments of previously contracted medicines, which, he said, caused a decline in services within hospitals.

Earlier, Shafaq News Agency , quoting an informed source, reported that the process of distributing state employees’ salaries for the current month is expected to begin at the start of next August, amid the continued financial challenges facing the public treasury.

Shafaq.com

Masrour Barzani and Halbousi affirm from Erbil their support for Zaidi in facing challenges and overcoming the current phase.

On Thursday, Kurdistan Regional Government Prime Minister Masrour Barzani and the head of the “Progress” party, Mohammed al-Halbousi, affirmed their support for the federal government headed by Prime Minister Ali al-Zubaidi to confront current challenges and overcome the region’s crises. DailyNews Reports

Masrour Barzani said during a joint press conference with Halbousi, “We discussed with Halbousi the bilateral relations that unite us with the ‘Progress’ party, and how to develop joint cooperation in light of the sensitive conditions that Iraq and the region in general are going through.”

He added, “We agreed on the need to cooperate with the federal government in Baghdad, headed by Prime Minister Ali al-Zubaidi, so that it can manage the numerous crises facing the country and the region under the current circumstances, and we will continue to provide full support to the federal government.”

For his part, the head of the Progress Party, Mohammed al-Halbousi, said during the conference, “We made a visit to the Kurdistan Region and met with the leadership of the Kurdistan Democratic Party and the Kurdish leader Masoud Barzani, and we exchanged talks on strengthening cooperation between the political parties, preserving the gains of the people, and discussing developments in the region.”

Al-Halbousi continued: “We renewed our support for our Iraqi government and its Prime Minister Ali al-Zubaidi to maintain security, stability and sovereignty for Iraq away from disputes,” stressing that “all parties and political forces should put the higher interests of the Iraqi people in mind.”

Shafaq.com

The Minister of Transport clarifies the “circumstances surrounding the signing of the Development Road Memorandum” and vows to prosecute those spreading “falsehoods”.

Minister of Transport, Wahab Al-Hassani, confirmed on Wednesday (July 29, 2026) that the framework memorandum of understanding for the strategic development road project was signed after addressing technical and protocol issues that accompanied the signing procedures with the Turkish side, denying what was raised regarding the agreement being stalled.

Al-Hassani said in a statement that what happened was related to finding the “best formula” for signing the memorandum of understanding, which sparked “a surprising wave of interpretations and fabrications,” as he put it, calling on the media to be accurate and obtain information from official sources.

He added that the ministry was fully prepared, had completed all the amendments and official correspondence, and had expressed its desire to conclude the memorandum due to its strategic importance to Iraq. IraqEconomic Reports

Al-Hassani explained that the efforts resulted in the signing of the framework memorandum of understanding for the Development Road project later yesterday, stressing that the project represents a national priority, and that the government is working to implement it in a way that ensures a pivotal role for Iraq in regional transport and trade projects.

The Minister of Transport stressed that the ministry will take legal action against anyone who has abused or promoted inaccurate information regarding the file, stressing that its position is firm in supporting all projects that serve Iraq and the Iraqis.

The failure of Transport Minister Wahab al-Hassani to sign a document related to the “Development Road” project during the Iraqi-Turkish agreements ceremony in Ankara sparked widespread controversy, after Prime Minister Ali al-Zaidi directly asked him about the reason, in front of Turkish President Recep Tayyip Erdogan and media cameras.

A video clip circulating from the ceremony on Tuesday showed Al-Zaidi turning to the Minister of Transport and asking him, “Minister, why didn’t you sign the development road? What’s the problem?”, in a scene that appeared to be outside the protocol context of the signing.

Burathanews.com

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CENTCOM: Iran does not control the Strait of Hormuz, and F-16 fighter jets are patrolling the Middle East.

The US Central Command (CENTCOM) confirmed on Wednesday that the Iranian Revolutionary Guard has no authority to impose routes for free and open navigation in the Strait of Hormuz. DailyNews Reports

She added in a post on the “X” platform, which was monitored by Shafaq News Agency, that commercial ships continue to use the strait with American military support.

She added that since early May, US forces have helped nearly 1,000 ships and 500 million barrels of crude oil pass through this narrow waterway.

In another post, the US command said: “A US Air Force F-16 fighter jet is flying in the skies over the Middle East. The F-16 is capable of performing a variety of missions, including air combat, air-to-ground attacks, tactical reconnaissance, and close air support.”

Earlier today, a senior Iranian official told Reuters that Tehran had rejected Oman’s proposal for joint regional management of the Strait of Hormuz, saying there was no chance of it succeeding.

He added that the Sultanate must supervise the part of the strait that falls under its control, noting that the southern routes through the strait, which pass through Omani territorial waters, could pose a danger to navigation.

In developments regarding the Strait of Hormuz, a US official confirmed that Iran is exaggerating its demands related to the Strait of Hormuz, and explained in statements reported by Reuters that these demands are rejected by America, Oman, and the international community.

He pointed out that the agreement currently being discussed regarding the waterway is only about coordination and will not include talk of imposing any fees, whether for passage or otherwise.

For his part, US President Donald Trump reiterated that the United States controls the strait, not Iran.

In contrast, Iranian Deputy Foreign Minister Kazem Gharibabadi asserted that opening the southern route to the Strait of Hormuz would have caused Iran to lose control of the strait, noting that the Sultanate of Oman had requested that the removal of Hormuz mines be entrusted to another country, but Tehran did not allow it.

The Iranian Deputy Foreign Minister also stressed that the Strait has become part of the country’s national security, noting that Tehran is working to strengthen its defense capabilities and will not abandon them.

Control of the Strait of Hormuz, the narrow waterway between the Persian Gulf and the Indian Ocean that serves as the main route for about a fifth of the world’s oil supply and other vital commodities, has long been a major point of contention in efforts to end the war between the United States and Iran. It has been largely closed since the beginning of the war.

Shafaq.com