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The National reports on the formation of the Iraqi government.

The Iraqi parliament is scheduled to vote on Thursday on the cabinet lineup presented by Prime Minister-designate Ali al-Zaidi, according to a report published Wednesday in the British newspaper The National. The report, translated by Al-Maalomah News Agency, stated that al-Zaidi was nominated by the largest parliamentary bloc, the Coordination Framework bloc, as a consensus candidate for the position last April. His business empire spans from supplying the Iraqi government’s food basket program, which serves millions of citizens, to investments in banking, construction, real estate, tourism, agriculture, food, glass, education, medical services, and energy.

The report added that the 41-year-old has no political background; instead, his public image is built on business ventures that have flourished thanks to lucrative deals with the government. The report continued, “The vote is a crucial step in the government formation process. An absolute majority is required to approve the government, which the prime minister-designate must present within 30 days of his nomination. Al-Zaidi has sought to garner support from various factions within the country.”

The report added, “No details of the proposed cabinet have been released, but Iraqi politicians told the newspaper that al-Zaidi is expected to present approximately half of his cabinet to parliament.”

The Iraqi economy is under severe strain following the closure of the Strait of Hormuz. This closure has reduced Iraq’s oil exports—the lifeblood of its economy—from 3.5 million barrels per day to around 300,000 barrels per day, further straining an already fragile system. Al-Zaidi also faces the challenge of addressing rampant corruption while rebuilding relations with neighboring Gulf states.

Almaalomah.me

The Patriotic Union of Kurdistan: The candidates for Kurdish ministries in the Zaidi government have been finalized.

Burhan Sheikh Raouf, a member of the Patriotic Union of Kurdistan, revealed today, Wednesday, that “the nomination of candidates from the Kurdish forces to fill four ministerial portfolios within the cabinet of Prime Minister-designate Ali al-Zaidi has been completed, in preparation for presenting them to Parliament during the anticipated confidence vote session.”

Sheikh Raouf told Al-Maalouma that “disagreements still exist among some of the forces within the Coordination Framework and the Sunni forces regarding the selection of their candidates for ministerial positions,” noting that “there is a positive atmosphere after Al-Zidi’s visit to Erbil and Sulaymaniyah and his meeting with the leaders of the two main Kurdish parties.”

He pointed out that “the visit laid a new foundation for resolving the outstanding disputes between the central government and the region that have persisted for years.”

Sheikh Raouf added that “the Kurdish forces support the formation of a ‘strong government’ capable of meeting the aspirations of the national forces, while emphasizing adherence to the constitution to resolve disputes between Baghdad and the region.”

The House of Representatives has allocated a single item on its agenda for tomorrow’s session, Thursday, which includes voting on the ministerial program and the government of Prime Minister-designate Ali al-Zidi.

Almaalomah.me

Al-Zaydi and the dollar: Expectations of a breakthrough in the exchange market

An economic expert predicted on Wednesday that the formation of the new Iraqi government would contribute to lowering the dollar exchange rate against the dinar in local markets, noting that there was an expected “American support” that would positively affect the financial market.

Sulaymaniyah currency market spokesman Jabbar Goran told Shafaq News Agency that the resumption of government projects after the formation of the government will lead to an increase in spending in Iraqi dinars and a full return of the ministries’ activity, which will boost demand for the local currency and support the stability of the exchange rate.

He added that the United States renewed its support for the formation of the government of Prime Minister-designate Ali al-Zaidi, considering that this support gives a “positive signal” to the financial markets, provided that no new tensions or wars occur in the region.

He explained that there was confusion surrounding the news regarding the “stopping of dollar transfers” from the United States to Iraq, indicating that Baghdad had requested the transfer of part of the surplus oil revenues deposited in JPMorgan Chase Bank and subject to the supervision of the US Treasury Department.

He pointed out that Iraq does not need all of its oil revenues immediately, so part of them is kept in the United States, noting that Washington informed Baghdad that it would postpone the transfer of additional funds until after the formation of the new government.

Goran predicted that the exchange rate of 100 dollars would fall to less than 150,000 dinars in the coming period, if regional conditions stabilize and there is no security or military escalation.

He stressed that the natural difference between the official price of 132,000 dinars per 100 dollars and the market price should remain within the limits of 12,000 to 13,000 dinars only.

Shafaq.com

A Chinese tanker carrying two million barrels of Iraqi oil is attempting to cross the Strait of Hormuz.

Ship tracking data showed on Wednesday that a giant Chinese oil tanker carrying about two million barrels of Iraqi crude was attempting to cross the Strait of Hormuz, a move that reflects the continued flow of Iraqi oil exports despite escalating security tensions in the region.

According to data from ship tracking company LSEG and the Kpler platform, the giant oil tanker “Yuan Hua Hu” passed Iran’s Larak Island and headed south through the strait, after being stuck in the Gulf since the beginning of March.

The tanker had loaded its cargo of Basra Medium crude from the port of Basra and is currently heading towards Asian markets. It is owned and managed by a unit of the Chinese company COSCO Shipping Energy Transportation, while the shipment was licensed by Unipec, the trading arm of Sinopec.

This attempt marks the third known passage of a Chinese oil tanker through the Strait of Hormuz since military tensions escalated between the United States and Israel on one side and Iran on the other on February 28, according to available tracking data.

Reports also indicated that Iran has strengthened its influence in the Strait in recent days through understandings related to oil and gas shipments with Iraq and Pakistan, amid global concerns about any disruption that could threaten the movement of energy supplies through the vital waterway.

This comes as Bloomberg reported on Tuesday that US forces imposing a naval blockade on Iran prevented a Greek ship carrying about two million barrels of Iraqi oil from continuing its journey to Vietnam for “unknown” reasons, while the Vietnamese government appealed to the United States to allow the oil shipment to proceed.

According to Bloomberg, the giant oil tanker Agios Phanourios 1, operated by Athens-based Eastern Mediterranean Maritime, made a sudden turn at sea on Monday near the point where the US blockade begins.

The tanker had passed through the Strait of Hormuz carrying 1.99 million barrels of Iraqi Basra Medium crude when it turned back, according to ship tracking data and documents seen by Bloomberg.

PetroVietnam Oil, the trading arm of the state-owned energy company, confirmed to U.S. Naval Forces Central Command that the cargo aboard the Agios Phanourios 1 belongs to them and was loaded in Iraq, according to a letter seen by Bloomberg. The tanker still indicates its destination as Nghi Son, home to one of the refineries in the Asian nation.

Shafaq.com

Iraq ranked fourth in well drilling activity within OPEC during 2025

Iraq ranked fourth among OPEC countries in well drilling completion activity during 2025, an indicator that reflects continued field activity in the oil sector, despite the difference with the leading countries.

Kuwait topped the list with 755 wells, followed by the United Arab Emirates with 444 wells, then Saudi Arabia with 383 wells, while Iraq came in fourth with 280 wells among the most active countries in drilling operations within the organization.

OPEC data also showed an improvement in global demand for oil derivatives related to the transportation sector during 2025, as demand for diesel rose by 0.39%, gasoline by 0.34%, and kerosene (jet fuel) by 0.29%, compared to a decline in the remaining fuel by 0.19%, reflecting the recovery of land and air transport and the expansion of global trade and tourism activity.

Shafaq.com

State of law: Oil and financial disputes may be postponed until after the vote on the cabinet.

Imran Karkoush, a member of the State of Law Coalition, revealed on Tuesday the existence of deep disagreements among political blocs regarding the distribution of ministerial portfolios in the upcoming government. He also suggested that the decision on two sovereign ministries would likely be postponed until after the vote of confidence.

Karkoush told Al-Maalouma, “Political discussions are witnessing significant disagreements regarding some portfolios, specifically the Ministries of Oil and Finance, around which most of the current disputes are concentrated.”
He added, “The intensity of the disagreements may push the political blocs to postpone the decision on these two ministries until a later stage, after the vote on the government formation.” He indicated that “the cabinet is expected to be presented for a vote in the House of Representatives within the next few days.”

Almaalomah.me

MP: Parliament intends to decide on committee chairmanships after the vote on the cabinet

Member of Parliament Mukhtar al-Moussawi confirmed on Tuesday that Parliament will begin appointing the heads and deputies of parliamentary committees immediately after the vote on the cabinet, stressing the need to activate the oversight role without favoritism. Al-Moussawi told the Information Agency that “the committee heads are the essential element for strengthening parliamentary work, and the process of selecting each committee head and their deputies will be conducted through internal voting and under the direct supervision of the Parliament’s leadership.”

He added that “parliamentary committees are the actual driving force behind legislative and oversight work, therefore their performance must be free from any favoritism towards any executive body,” explaining that “the current session aims to truly activate the mechanisms of summoning and questioning ministers.”

He pointed out that “Parliament is striving to overcome the obstacles that hindered the oversight role during the previous parliamentary session, to ensure institutional performance that serves the public interest.”

Almaalomah.me

Warnings against “ministers of failure”… Adai calls on Al-Zidi to confront the pressures of the blocs and appoint competent individuals to ministerial positions.

MP Riyadh Adai warned the prime minister-designate on Tuesday against succumbing to pressure from certain political forces seeking to impose “incompetent” figures in the upcoming cabinet. He stressed the necessity of selecting professional ministers, free from the abhorrent quota system.

Adai told Al-Maalouma, “The current stage requires selecting a cabinet of competent and experienced individuals, completely avoiding figures who have previously proven their failure in managing the state’s key institutions.” He explained that “appointing ministers who do not rise to the level of responsibility will lead to a weak government that fails to meet the people’s aspirations.”
He added, “There is pressure being exerted by some political entities on the prime minister-designate to approve specific names lacking qualifications,” warning that “accepting this pressure will reproduce failure, and the prime minister-designate must bear full responsibility for choosing the most suitable individuals to lead the ministries.”

Almaalomah.me

Badr predicts the cabinet will be finalized within two days.

MP Qusay Abbas, from the Badr Bloc, indicated on Tuesday that the cabinet formation is likely to be finalized and presented to Parliament for a vote of confidence by the end of this week. He emphasized the continuation of intensive dialogues among political forces to overcome the remaining obstacles.

Abbas told the Information Agency, “Negotiations between the political blocs have made significant progress, and there are initial agreements suggesting the possibility of completing the cabinet before the weekend.” He explained that “the proposed names are subject to criteria of competence and political balance.”
He added that “the next few days will be crucial in finalizing the government formation and proceeding with the constitutional procedures within Parliament,” noting that “most parties have a genuine desire to expedite the formation of the government to address the current challenges.”

Almaalomah.me