Kurdistan Region ratifies agreement to resume oil exports, awaiting Baghdad’s signature

Kurdistan Regional Government Prime Minister Masrour Barzani chaired a cabinet session on Wednesday to discuss the tripartite agreement between the regional government, the federal government, and private oil companies regarding the resumption of the region’s oil exports.

A government statement received by Shafaq News Agency said that Minister of Natural Resources Kamal Mohammed Salih presented the details of the agreement, indicating that it had been ratified by all three parties, with the exception of DNO. It will then be referred to the Federal Ministry of Oil, awaiting signature within a day or two. This paves the way for the start of exports via SOMO, with the exception of quantities allocated for domestic use.

The minister affirmed that the regional government has prepared all necessary measures to implement the agreement. Meanwhile, Chief of Staff of the Council of Ministers, Omid Sabah, explained that the obstacles facing the negotiations were overcome through the efforts of all parties, leading to the agreement being ratified collectively.

For his part, Cabinet Secretary Ayman Rahim explained the terms of the agreement, which guarantee the rights and obligations of the federal government, the regional government, and the oil companies. He noted that its implementation will ensure the timely disbursement of salaries to the region’s employees without delay.

The Council welcomed the federal government’s decision to approve the agreement and disburse the region’s dues for July 2025, affirming its readiness to follow through on all commitments to ensure regular salary payments.

In a second axis, the Cabinet discussed the distribution of oil revenues and federal revenues, reviewing the legal and constitutional frameworks related to it before referring the file to the Federal Cabinet for further deliberations.

It was also decided that the Kurdistan Regional Government’s Ministry of Finance and Economy would disburse an additional 120 billion dinars from the federal share for July, to the federal Ministry of Finance, as a prelude to unifying the oil revenue file between the two parties, in coordination with the joint ministerial committee in Baghdad.

Earlier today, the Kurdistan Regional Government announced the completion of the payment of salaries to employees in the region for July and August, after completing the transfer of 120 billion dinars of the region’s revenues to the federal government in Baghdad.

The Iraqi government decided yesterday, Tuesday, to pay the salaries of Kurdistan Region employees for the month of July, according to an informed government source.

The source told Shafaq News Agency that the Iraqi Council of Ministers decided yesterday to pay July salaries, pending an agreement on non-oil revenues to pay the remaining salaries for the remaining months (August and September).

On May 26, the Federal Council of Ministers approved the Ministry of Finance’s payment of salaries to Kurdistan Region employees for June 2025, with the regional government paying 120 billion dinars as a non-oil revenue payment.

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Boosting the value of the dinar, Iraq achieves the “highest” percentage of gold reserves in its history.

The Iraq Future Foundation for Economic Studies and Consultations announced on Wednesday that the Central Bank of Iraq has achieved its highest gold reserve since its establishment, with a value exceeding 24 trillion dinars.

The head of the institution, Manar Al-Obaidi, said in a report published today that the Central Bank of Iraq’s gold reserves have reached more than 24 trillion dinars, a 13.3% annual increase and a 135% increase compared to 2022. This brings the Central Bank’s gold reserves to 20% of the total Central Bank reserves, which amount to 123 trillion Iraqi dinars.

He explained that this record value is the first time the Central Bank of Iraq has reached this level since its establishment, as gold reserves have never exceeded 20 trillion dinars throughout the Central Bank’s operations. He noted that for the first time, the contribution of gold to reserves has exceeded 20% of total reserves.

The head of the institution continued by saying that reaching this level of gold reserves enhances the strength and value of the Iraqi dinar, especially given the fluctuations in various global currencies, including the dollar. Therefore, the Central Bank of Iraq has sought to increase its gold reserves, which are considered a safety factor in light of international financial fluctuations.

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Kurdistan Regional Government: Kurdistan Region’s employees’ salaries are ready after 120 billion dinars were handed over to Baghdad.

The Kurdistan Regional Government announced on Wednesday that it had completed the payment of salaries to employees in the region for the months of July and August, after completing the transfer of 120 billion dinars of the region’s revenues to the federal government in Baghdad.

“Approval has been given to deposit 120 billion dinars of the region’s revenues into the Iraqi Ministry of Finance’s bank account, so that the ministry can pay the salaries of the region’s employees,” KRG spokesman Peshwa Hawrami said in a press conference attended by a Shafaq News Agency correspondent.

He added, “The Kurdistan Ministry of Finance and Economy has completed all preparations, and as soon as July salaries arrive, the distribution process will begin. Meanwhile, a list of August salaries has been prepared and will be submitted soon to the Iraqi Ministry of Finance.”

Hawrami pointed out that “the agreement with Baghdad on the oil file will continue for three months, with the aim of ensuring that no disruption occurs before the new budget is prepared next year.”

The Iraqi government decided yesterday, Tuesday, to pay the salaries of Kurdistan Region employees for the month of July, according to an informed government source.

The source told Shafaq News Agency that the Iraqi Council of Ministers decided yesterday to pay July salaries, pending an agreement on non-oil revenues to pay the remaining salaries for the remaining months (August and September).

On May 26, the Federal Council of Ministers approved the Ministry of Finance’s payment of salaries to Kurdistan Region employees for June 2025, with the regional government paying 120 billion dinars as a non-oil revenue payment.

Shafaq.com

Iran pledges to rebuild damaged nuclear facilities despite pressure and threats.

The head of the Atomic Energy Organization of Iran, Mohammad Eslami, announced on Wednesday that Iran will rebuild the facilities that were targeted, despite international pressure and Israeli threats of further attacks.

“It is completely normal for facilities to be damaged during any military attack. What matters is that science, knowledge, technology, and industry have deep and long roots in Iran’s history,” Eslami said in press statements. He pointed out that “the enrichment rate, and what is being circulated in public opinion and the media, is being exaggerated by politicians, adventurers, and our enemies. A higher enrichment rate does not necessarily mean it will be used in weapons. Rather, we need higher enrichment for our precision measuring instruments.”

“No one is selling us these materials. We have been under sanctions for years. We need these products for reactor safety systems and for the sensitive processes used in operating reactors. There will be no direct negotiations with the United States,” Eslami continued in an interview with Sky News.

International Atomic Energy Agency Director-General Rafael Grossi told The Times that Iran still has the capacity to develop its nuclear program after Israeli and US airstrikes this year.

Grossi stated that “the Iranian government still has the means to manufacture the centrifuges needed to enrich its uranium stockpile.”

“They have the capability. Maybe a number of centrifuges have survived undamaged. They have places where these components are manufactured and where they do all the work. So, if they wanted to, it would only be a matter of time,” he said.

Grossi added that “inspections of Iranian nuclear facilities resumed after Tehran suspended its cooperation with the IAEA following the strikes in June that destroyed several power plants, including the Fordow uranium enrichment plant.”

Grossi said that enriching Iran’s uranium stockpile to 90% purity “will not take long.”

“It’s a matter of weeks, not months or years,” he continued, adding, “This is why Tehran’s nuclear program was subjected to such scrutiny before US strikes.”

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Kurdistan President discusses strengthening partnership with US Charge d’Affaires

News- Erbil: Kurdistan Region President Nechirvan Barzani received the US Chargé d’Affaires to Iraq, Joshua Harris, on Wednesday. They discussed relations between the United States, Iraq, and the region, as well as the outstanding issues between Erbil and Baghdad.

A statement from the Kurdistan Region’s presidency, received by Shafaq News Agency, said the meeting addressed the general economic situation in Iraq and Kurdistan, the upcoming general elections, as well as financial dues and salaries for the region’s employees. The meeting emphasized the need to find urgent solutions to these issues through a unified mechanism.

During the meeting, Harris emphasized the importance of the partnership and cooperation between the United States and the Kurdistan Region, reiterating his country’s commitment to strengthening relations and expanding areas of joint cooperation.

The meeting also addressed terrorist threats and the response to ISIS attacks, in addition to discussing developments in the Middle East in general, with the US Consul General in the region in attendance.

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Iraqi Kurdistan confirms completion of oil export commitments

The Ministry of Natural Resources in the Kurdistan Region confirmed on Wednesday that it had fulfilled its oil export obligations, while indicating that it was awaiting the signing of an agreement with the federal government. The ministry stated in a statement that “the Ministry of Natural Resources has fulfilled all its obligations related to the export of Kurdistan Region oil with the federal Ministry of Oil, within the framework of the recommendations and decisions of the Council of Ministers.”

He added, “All local and foreign companies have signed, with the exception of one foreign company that has not signed the agreement. This does not affect the tripartite agreement between our ministry, the companies, and the federal ministry of oil.” He continued, “The ministry is awaiting the federal ministry’s response to sign the agreement, so that the State Oil Marketing Organization (SOMO) can begin exporting oil as soon as possible and implement the terms of the agreement.”

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The Ministerial Council discusses maximizing non-oil revenues and supporting the general budget.

The Ministerial Council for the Economy discussed, on Monday, proposals to maximize non-oil revenues and explore ways to support the state’s general budget, in addition to establishing a commercial zone for agricultural products and agricultural supplies to support agriculture and farmers. The media office of the Ministerial Council for the Economy stated in a statement that “Deputy Prime Minister and Minister of Planning Mohammed Tamim chaired the 30th session of the Ministerial Council for the Economy, which was held in the Council building in the presence of the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, the Undersecretary of the Ministry of Oil, the Deputy Chairman of the National Investment Commission, and the Prime Minister’s advisors for economic and legal affairs.”

The statement added, “The Council hosted the Minister of Water Resources to discuss the state of the water sector, as well as the water plan for the 2025-2026 winter agricultural season. The Council also discussed with the Minister of Water Resources the Ministry’s proposals to maximize non-oil revenues and explore ways to support the state’s general budget by maximizing the Ministry’s revenues.”

The statement continued, “The Council discussed the Ministry of Commerce’s proposal to establish a commercial zone dedicated to agricultural products and agricultural supplies, which would serve as a marketing and surplus export center to support agriculture and farmers.”

The statement also stated that “the Council decided to support this step in order to encourage farmers to export their products outside Iraq and achieve financial returns that contribute to the national product.”

He noted that “the Council hosted the head of the Iraqi Contractors Union to discuss the state of the contracting sector and service projects, as well as contractors’ dues for completed or under-construction projects. The Council decided to continue supporting this important sector and paying contractors’ dues after determining the completion rates of these projects, in order to ensure the continuity of work and prevent any interruption in work to improve the level of services provided to citizens.”

The statement concluded by saying, “The Council decided that the General Directorate of Industrial Development would grant establishment licenses to establish the new operation to produce prime coat, asphalt, and industrial solvents, in accordance with Industrial Investment Law No. 20 of 1998, provided that the raw materials are supplied according to what is available at the Ministry of Oil.”

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The Prime Minister arrives in Babylon to declare the province the industrial capital of Iraq.

Prime Minister Mohammed Shia al-Sudani visited Babil Governorate on Monday. The Prime Minister’s media office stated in a statement that “Prime Minister Mohammed Shia al-Sudani arrived in Babil to declare the governorate the industrial capital of Iraq.” The statement added that “the visit includes the launch and inauguration of a number of industrial projects.”

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Al-Maliki warns of a “grave danger” from postponing the elections: By voting, we close the doors to dictatorship and sectarianism.

State of Law Coalition leader Nouri al-Maliki warned Sunday evening of a “grave danger” if parliamentary elections are not held on schedule. While asserting that ballot boxes will close the door to dictatorship, racism, sectarianism, and marginalization, he noted that voters’ votes will determine whether the current government remains in power or is replaced.

In a speech at the “Youth and Elections” conference, sponsored by the Minister of Youth and Sports, Ahmed Al-Mubarqa, and monitored by Shafaq News Agency, Al-Maliki said, “The country’s progress requires renewal and development for a strong, prosperous Iraq, and renewal in the world of youth is a foundation that should be embraced by everyone.”

He added, “Elections are one of the mechanisms for renewal and development, and democracy and the political process are meaningless without elections.” He emphasized that “the resistance was strong from us and from other political forces and parties, who insisted on holding the elections on the scheduled date.”

He stressed that “elections are the gateway through which the government and parliament are formed and the process of enacting laws regulating the political and social process begins,” noting that “there is nothing in the constitution called an emergency or caretaker government.”

Al-Maliki warned, “Everyone must realize the grave danger if the elections are not held on the scheduled date. He also emphasized the importance of making good choices in the elections and selecting those who deserve to represent the people.”

He considered that “through elections, we will close the doors to dictatorship, racism, and sectarianism from reaching power and the state’s institutions. The issue of exclusion and marginalization of the various components will end, and everyone will receive their due based on what they have contributed in the field. Likewise, through elections, we will eliminate the evil tide of killing and terrorism.”

Al-Maliki concluded his speech by saying, “The government’s survival or change is achieved through elections and parliament, building a successful political process and a developed state.” He emphasized that “Iraq deserves to be among the most developed and advanced countries, given its potential and historical legacy.”

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A hint of a return to the elections… A source close to him said: This is what al-Sadr intended in his latest message.

A source close to Shiite National Movement leader Muqtada al-Sadr revealed on Sunday the contents of the movement’s leader’s message regarding boycotting the parliamentary elections, hinting at a return to participation.

The source told Shafaq News Agency, “Al-Sadr and the Sadrists emphasize that the boycott here is a peaceful and moral pressure tool to force everyone to review the alternative path to blind participation, which is comprehensive reform, a real change of faces and policies, and the elimination of the loose weapons that have been confiscated by the state.”

He added, “Al-Sadr emphasized in his message and clarification a very important matter: that he and his supporters are soldiers for religion and nation, both inside and outside the process, and that they will only give their votes to those who carry a national program without allegiance or subservience. If that happens, he will reconsider participating. Otherwise, boycotting is a legitimate right and a national duty.”

He explained that “boycotting the upcoming elections is a principled position and a clear message of reform. The Sadrists’ position is that we have tried working within the political process, but corruption, subservience, and a lack of attention to the religious authority’s calls have caused all efforts to be wasted amid accusations of treason and exclusion. Hence the decision to boycott.”

Saleh Mohammed al-Iraqi, a close associate of Shiite National Movement leader Muqtada al-Sadr, revealed on Sunday that al-Sadr is demanding comprehensive reform and the replacement of senior officials in power in exchange for ending his boycott of the upcoming parliamentary elections scheduled for November.

Al-Iraqi said in a post on social media, Facebook, quoting Al-Sadr, that “the real alternative to the boycott is to replace the current faces (stripped and removed), so that the doors of reform may open and the doors of dependency and prostration to the foolish may be closed, and the people may be safe from loose weapons, and from the suppression of voices, and the people may be rid of polluted water, and Iraq’s lost share of water and electricity may be restored, and the borders opened to terrorism and smuggling, and the imposition of foreign agendas that have weakened the sect and the nation.”

In March, al-Sadr announced his non-participation in the upcoming elections, citing “corruption and corrupt people,” while stating that Iraq was “experiencing its last gasps.”

In June 2022, al-Sadr decided to withdraw from the political process in Iraq and not participate in any upcoming elections, so as not to associate himself with “corrupt” politicians. This followed his call for the resignation of all 73 of his members of parliament.

The Sadrist bloc received the highest number of votes in the early parliamentary elections held in October 2021, but the movement’s leader’s efforts to form a new federal government failed due to the Shiite Coordination Framework’s opposition to the bloc’s formation. The bloc obtained a fatwa from the Federal Court, which uses the so-called blocking third, to prevent the session to elect a president, paving the way for the appointment of a prime minister.

The tripartite alliance between the Kurdistan Democratic Party (KDP), led by Masoud Barzani, the Sovereignty Alliance, led by Khamis al-Khanjar, and the Sadrist Movement, led by Muqtada al-Sadr, has unraveled following the resignation of Sadrist bloc representatives and the movement’s withdrawal from the political process at al-Sadr’s behest.

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