The Iraqi protest movement calls for an end to the mechanism for transferring oil revenues through the US Federal Reserve.

The head of the Iraqi protest movement, Ammar al-Tamimi, called on Friday for an end to the mechanism of transferring Iraqi oil sales revenues through the US Federal Reserve, noting that the continuation of this mechanism undermines national sovereignty and gives Washington leverage over Baghdad.

Al-Tamimi explained to Al-Maalouma that “Iraqi oil sales in international markets have their proceeds paid to the US Federal Reserve before the funds are delivered to Baghdad in installments, and therefore this mechanism means that Washington is holding onto Iraq’s money.”

He added that “oil sales constitute more than 90% of Iraq’s annual financial revenues, and therefore the continuation of this mechanism represents a pressure tactic on Baghdad.”

He pointed out that “maintaining this mechanism infringes on national sovereignty, therefore we call for the funds to be transferred directly to Baghdad, without going through the US Federal Reserve or any other foreign entity.”

Al-Tamimi emphasized that “sovereignty must be political and economic, and this would enhance Baghdad’s ability to finance projects, especially those that contribute to supporting stability in various sectors.”

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Iraqi Foreign Minister from Washington: We do not want a new war in the region

Iraqi Foreign Minister Fuad Hussein fears a renewed US-Iranian war and its impact on Iraq’s economy and security. In an interview with Radio Free Europe , he offered Baghdad’s readiness to mediate between Washington and Tehran, describing the end of the US military presence in Iraq as a “new chapter” that paves the way for strengthening relations further. Financialnews aggregation

In an interview conducted in Washington, D.C., and translated by Shafaq News Agency, Hussein said: “I believe that every war must end, and when we talk about the end of the war, this means returning to diplomacy. In fact, diplomacy should be the right channel to solve the problem.”

He stressed: “The current conflict in the Gulf, the war between the United States and Iran, must end. We have no alternative but diplomatic channels.”

In response to a radio question about whether he was worried about the US-Iran conflict and its spread in the region, Hussein said, “It has already become a wider conflict. It is not just a conflict between the United States and Iran. Iraq has suffered a lot, and we have, in fact, become a victim of this conflict.”

He continued: “Economically speaking, we are victims because of the closure of the Strait of Hormuz for a period of time, so we were unable to export our oil. Now, we are doing so, but we are still concerned about what is happening around the Strait of Hormuz.”

The radio station quoted Hussein as saying: “We too have been attacked. By the countries involved in the conflict several times. So we hope that this conflict will end, and that there will be peace in that region.”

After Hussein pointed out that he is in continuous discussion with the Iranian and American sides and with other countries, he said that Iraq “encourages all these countries to return to the negotiating table and resolve the problem through negotiation. When we were in New York, during the meetings of the United Nations General Assembly, there was a round of talks between the Iranian side and the Americans, and we were very pleased with those talks. But unfortunately, once again, they did not reach an agreement.”

When the radio station asked him whether Baghdad was ready to mediate directly between Washington and Tehran, the Iraqi minister said, “In order to mediate between the two parties, they have to ask for it, they have to bring up the idea with you, and in any case, if we are contacted, we are ready.”

He added: “I think Iraq is in an excellent position to arrange meetings between the two sides. But we need, first and foremost, for both sides to come closer to us.”

Commenting on US President Donald Trump’s announcement that the latest Iranian proposals were “not enough” and what Iraq’s vision is of what the two sides should do, Hussein said: “I do not want to interfere in the international politics of the United States and Iraq, but what we want is for these two countries to meet and resolve their problems through negotiation.”

Regarding Trump’s announcement that military operations could resume, and what that means for Iraq, Hussein explained, “I believe that these kinds of problems will not be solved through military action, and we do not support the idea of ​​war, nor do we want to be part of a war.”

He added: “We, the Iraqis, have suffered greatly from wars, as the Iraqi government during the Saddam Hussein era was at war with many countries, and as a result of the wars, the Iraqi infrastructure was destroyed. There are thousands of Iraqis who were lost and killed during the war.”

He continued, explaining that “we can say that two or three generations were born during wars and were educated through a culture of war, and that is why we are fundamentally against war, and we do not like to wage war, and of course, we want to protect our country from war. That is why we do not want to be part of any war, and we reiterate that conflicts can be resolved through negotiation and not through the use of military means.”

Regarding the situation in the Strait of Hormuz and the fate of Iraq’s exports, Hussein said, “About two or three weeks ago, we were able to export our oil, so we are happy about that. But in reality, we are worried if the war starts again, and the Strait of Hormuz will be full of military operations that will prevent our oil exports, and this will create a big problem.” Iraqeconomic news

He pointed out that “the Iraqi economy depends heavily on income from oil sales, and if we are unable to export our oil, this means less income for our country, and this will create a big problem for us.”

Regarding the “historic moment” of the end of the American military mission in Iraq, Hussein said it was “a new page in our political situation, because the Americans were there from 2003 until 2011. Then they left, and because of the attacks of terrorists and groups, the Americans returned again.”

He added: “But it’s not just the Americans. Many allies returned to Iraq to fight and destroy the terrorist organization. We worked together. We disagreed together. We are, first and foremost, grateful to the American people, the American government, and the other allies who were with us when we needed them, fought together, and destroyed ISIS.”

He continued, “This is important in our history. And now they have left. This does not mean that we will have a different policy, a different relationship. We will strengthen our relationship with the United States, but in other different areas, of course: the economy, energy, and politics. But we also plan to start discussions with the American side, so that we can reach a security agreement at the bilateral level.”

He added that it is “a new chapter in Iraqi sovereignty, and also represents a new chapter in our relationship with the United States.”

Regarding Iraq’s ability to prevent armed groups from dragging it into another regional war, Hussein said, “There are negotiations currently underway between Prime Minister Ali al-Zaidi and those groups, and we have reached a good understanding with the various armed groups. They have announced that they will support the government’s plan. There are two other groups that have not announced this, so we hope that we can resolve this issue through talks with the leaders of these groups.”

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Al-Zaydi announces the completion of the pillars of Iraqi sovereignty and identifies 6 pillars for the new phase

Prime Minister Ali Faleh al-Zaidi sponsored the “Sovereignty Day” conference on Thursday evening, in the presence of Speaker of Parliament Hebat al-Halbousi, President of the Kurdistan Region Nechirvan Barzani, a number of officials and leaders of national political forces, and heads of diplomatic missions represented in Iraq. Dailynews reports

Al-Zaydi said in a speech he delivered on the occasion, according to a statement received by Shafaq News Agency, that this day crowns the efforts of Iraqis with an achievement befitting Iraq and its sovereignty, and reaps the fruits of patience and hard work.

He added that “Iraq is a country in which the foundations of political, economic and security sovereignty are established, and the rule of law is applied throughout its territory, and its wealth is in the hands of Iraqis in accordance with the constitution,” explaining that “sovereignty represents the people’s decision and their insistence on the existence and prestige of the state, and it is the basic meaning of the comprehensive national identity.”

Al-Zaydi continued, saying: “Twenty years ago, the Iraqis chose their permanent constitution in a phase that witnessed challenges and terrorism allied with the remnants of dictatorship and the forces of destruction,” explaining that “the Iraqis succeeded in all the difficult tests, reaching the present moment in which our people renew their decision to protect the state and its system, and close the way to those who take the public interest as an outlet for their own private interests.”

He added that “the government has confronted the scourge of corruption, and its efforts in this regard have supported sovereignty and prevented sinful hands from violating public funds,” noting that “the government has realized the importance of sovereignty upon which the future of our people is based, and we decided in our government program to adhere to it and strengthen its national principles.”

He added: “The supreme religious authority was not far from this national decision when it indicated on every occasion to work towards achieving a better future, enforcing the rule of law, and controlling weapons in the hands of the state. Let us start from the days of sovereignty, and make its meanings a national awareness that is translated into reality, and let us draw for Iraq a path that responds to the needs of this generation and guarantees the rights of future generations.”

According to Al-Zaydi, the sovereignty that Iraq has regained today is embodied in the withdrawal of foreign forces and the complete termination of the international coalition’s mission in Iraq, the agreement on the withdrawal of Turkish forces and elements of the Kurdistan Workers’ Party, the end of the presence of foreign armed groups on Iraqi soil, as well as the unification of the Peshmerga forces, which strengthens the unity of security and military decision-making.

In addition to ending the presence of any armed foreign opposition on Iraqi soil, and not allowing Iraq to be used as a launching pad for attacks on neighboring countries, according to Al-Zaydi, who stressed the need to control the weapons file in accordance with the constitution and the law, and according to the agreed timetable for addressing the situation of the factions and integrating them into state institutions.

He pointed to the commencement of building an integrated national air defense system, which enhances Iraq’s ability to protect its airspace and sovereignty, announcing the launch of a phase of sovereignty that is protected by the state, guaranteed by law, and in whose building all Iraqis participate.

According to the statement, Al-Zaydi praised the positions of the factions that announced their commitment to addressing the issue of weapons in accordance with the constitution and the timetable set by the government, adding: “We expect the same commitment from the rest in a way that serves the interest of our people and strengthens the authority and prestige of the state.”

He pointed out that sovereignty is manifested in an Iraqi economy capable of confronting global changes, interacting with the international economy, possessing the tools of influence, and presenting to the world a model of successful equal partnerships, stressing the continuation of diversifying the economy, expanding partnerships, and investing the energies of the youth instead of wasting them in economic structures that have exhausted their role.

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Between the “official and parallel” exchange rates, Iraq is losing billions due to the gap in the dollar exchange rate.

Economic experts believe that the gap between the official exchange rate of the US dollar in Iraqi dinars and the parallel market rate in exchange bureaus is causing significant financial losses in the Iraqi market. Businessnews alerts

Many questions arise in this context, including why the price of the dollar consistently outperforms the Iraqi dinar in a country that possesses good oil reserves and considerable quantities of gold in the Central Bank of Iraq.

In this regard, economist Ali Daadoush confirms that “the continued gap between the official and parallel dollar exchange rates does not necessarily mean a shortage of foreign reserves, but rather reflects a gap between the demand for dollars and the official channels available to obtain them, in addition to restrictions related to foreign transfers, informal trade, speculation, and traders’ expectations.”

Daadoush adds to Shafaq News Agency, “From an economic standpoint, the impact of this gap is greater than just a price difference; it raises the cost of imports that cannot pass through official channels, puts pressure on prices, and increases uncertainty for the producer, importer, and consumer,” explaining that “the gap creates an incentive to move from formal activity to informal channels.”

Daadoush believes that “narrowing the gap requires expanding the use of the dinar in local transactions, improving customs control and reducing informal trade, developing the correspondent banking network, as well as addressing delays in bank transfers and redrawing the customs tariff for some essential goods.”

He notes that “the parties benefiting from the continuation of the gap are the intermediaries, speculators, some informal exchange and trade activities, and entities able to obtain dollars at the official rate and then reprice or recycle them outside official channels.”

He pointed out that “not all exchange companies or traders can be considered beneficiaries of this, because a large part of the commercial sector bears the gap as an additional cost. Therefore, the main issue is not only addressing the parallel market rate, but also reducing the gap between the official transaction rate and the dollar rate that the economy actually faces, through reforming financing and trade channels, banking compliance and customs.”

Meanwhile, money changer Osama Al-Mushrifawi, owner of one of the outlets in Baghdad, explains that “among the reasons for the gap between the official and parallel exchange rate of the dollar is the government’s tendency to support only large companies, and there is no support for small companies or small traders,” indicating that “large traders invest money by buying goods at the official exchange rate and sell them at the parallel rate.”

He adds in his interview with Shafaq News that “owners of clothing and mobile phone shops and some importers do not obtain dollars at the official price, which pushes them to buy from the black market. The more the demand for dollars increases, the higher its value rises and the gap between the official price and the parallel price widens,” noting “the state’s lack of control over the black market and the creation of a transactional environment within Iraq that is only in Iraqi dinars.”

He points out that “the government’s procedures to find some possible solutions to reduce the value of the dollar are proceeding very slowly and are subject to certain considerations, so we find that the percentage of the dollar’s decrease is small, compared to the increase, as the parallel exchange rate reached 1600 during the past few days.”

Al-Mushrifawi suggested “creating a special platform for shop owners to import goods at the official price to reduce the process of withdrawing dollars.”

The difference between the official and parallel exchange rates poses a major challenge to successive governments in Iraq, none of which have been able to bridge this gap and reach convincing solutions to build confidence in the Iraqi dinar. This gap constitutes an economic challenge that confuses citizens and disrupts commercial activity in the country. Iraqtravel guides

Mustafa Akram Hantoush, an expert in financial and banking affairs, believes that “the unification of the exchange rate represents economic stability, but the parallel market represents the demand outside the platform, because the platform does not cover small traders.”

Hantoush adds to Shafaq News Agency that “there are thousands who do not own companies and do not have a way to import, and they need companies that sell at retail and are suitable, or the feature is given to exchange shops that import the orders of every merchant who has a proven location.”

He pointed out that “framing small traders within the framework of the Central Bank helps in reducing the parallel market, as there is a large trade with neighboring Iran that includes food, dairy products and others, but the Central Bank does not cover it.”

Hantoush confirms that “if bank credits break down, it is possible that the parallel market rate will decrease and become the official exchange rate.”

MP Amer Abdul-Jabbar had previously explained in a statement that “the Iraqi people are losing 27 billion dinars due to the price gap between the official exchange rate and the parallel exchange rate during the 1295 days that is the total period of the previous government’s work,” noting that the average losses amounted to 21 million dollars every 24 hours.

Abdul-Jabbar noted that the price difference between the official and parallel dollar rates, which reached 2,900 dinars per dollar in September, is the highest price difference since 2003, and that the average losses for the current government’s 50 actual working days amounted to $43.1 million per 24 hours.

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A member of parliament calls for the removal of corrupt figures and the opening of major cases without favoritism.

Member of Parliament Abdul Hamza Al-Khafaji called on Wednesday for oversight and judicial bodies to open and activate major pending financial and administrative corruption cases, stressing the need to pursue the big fish of corruption and recover the looted funds away from any pressures or political settlements.

Al-Khafaji told Al-Maalouma News Agency that “the current stage requires taking courageous and unconventional steps by the Integrity Commission and the Public Prosecution by immediately opening the huge files that witnessed the waste of billions in fictitious contracts and projects that affected vital and strategic sectors,” indicating that “financial corruption is no less dangerous than terrorism in undermining the pillars of the state and draining the people’s wealth.” Dailynews reports

He added that “anti-corruption campaigns should not be limited to junior employees, but should reach the big bosses and influential parties who provided political cover for the waste of public money,” noting that “silence or procrastination in resolving these cases disrupts the development process and weakens public confidence in regulatory and executive institutions.”

Al-Khafaji stressed “the necessity of supporting the judiciary and investigative bodies to deter anyone who dares to infringe upon citizens’ rights and the country’s resources,” affirming that “the House of Representatives will firmly exercise its oversight role to ensure that those involved are exposed, brought to justice, and every dinar stolen from the state treasury is recovered.”

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With a discount of $28 per barrel, Iraq’s oil exports reach 3 million barrels per day.

Oil expert Hamza Al-Jawahiri confirmed on Wednesday that Iraqi crude oil export rates have stabilized at 3 million barrels per day, noting that sales to foreign tankers are being carried out at a price discount of up to $28 per barrel, compared to global market prices, to avoid the consequences of geopolitical risks. Iraqtravel guides

Al-Jawahiri told Al-Maalouma News Agency that “Iraqi oil extraction operations have fully recovered thanks to the return of normal production to the wells through advanced injection operations,” indicating that “the total export level has achieved a good jump to reach 3 million barrels per day through the southern ports, Turkey, as well as the tankers heading towards the Syrian port of Banias.”

He added that “foreign companies and tankers, especially those transiting the Strait of Hormuz, purchase Iraqi crude at a discount of $28 from the prevailing global price,” explaining that “this measure protects Baghdad legally and financially, as Iraq bears no responsibility or additional costs should these tankers be exposed to war risks or increased marine insurance premiums.”

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Al-Zaydi announces the end of the international coalition’s mission and affirms: No weapons outside the law.

On Wednesday, Prime Minister and Commander-in-Chief of the Armed Forces Ali Faleh al-Zaidi presided over the official ceremony marking Sovereignty Day and the end of the mission of the international coalition forces fighting ISIS in Iraq, in the presence of the coalition forces commander and leaders of various military branches and security formations. Businessnews alerts

In a speech delivered on the occasion, the Commander-in-Chief of the Armed Forces announced the official end of the mission of the international coalition to fight ISIS, proving that cooperation between friendly forces and friendly peoples has resulted in a victory over one of the darkest chapters of extremism and brutality in history .

He added: “ The uprising of our people alongside our armed forces was the starting point for a phase in which our forces reorganized their command systems , were able to mobilize resources, unify efforts, and seize the initiative . Friendly countries also extended a helping hand to Iraq in that decisive confrontation , and our armed forces successfully reorganized and rearmed themselves . ”

He continued: “ Throughout the years of the war on terror, the Joint Operations Command has been the heart of coordination, and the mind that gathers information and carries out planning and leadership within a major national battle .”

He added: We extend our thanks and appreciation to all the friendly countries that participated in the international coalition , and to its leaders , officers , trainers and advisors who worked alongside our security forces .

He explained that the end of the international coalition’s mission does not mean the end of our battle with terrorism, but rather that Iraq is moving to a stage in which it assumes full responsibility for its security and stability , and the transfer of joint operations tasks to the office of the Commander- in-Chief of the Armed Forces embodies an institutional formula for managing this effort under the authority of the state and its supreme leadership .

He continued: A new phase has begun, characterized by Iraq’s sovereignty , the strength of its institutions, the readiness of its forces , the unity of its decision, and balanced partnerships with its friends . Security cooperation will remain an open path with friends from the international coalition and will be more effective and focused.

He explained: Cooperation will involve employing technology and digital techniques to serve the goals that support security and stability . The mission has ended in victory, and the responsibility for protecting this victory now rests on all of us .

He concluded his statement with, ” No weapons outside the umbrella of the law, and no power outside the institutions of the state, in accordance with what the constitution stipulates , what our wise leadership has called for , and what our people want .”

Shafaq.com

Sanad: Technology accounts for 70% compared to oil and gas, and we are enhancing internet transit in Iraq.

The Ministry of Communications opened the fifth session of the Iraq International Information and Communications Technology Exhibition and Conference (ITEX) on Wednesday, under the slogan “Iraq is moving towards digital transformation and adopting the technology of the future,” under the patronage of Prime Minister Ali Al-Zaidi and Minister of Communications Mustafa Jabbar Sand.

Sand said in a speech he delivered during the opening ceremony of the exhibition, which was attended by Shafaq News Agency, that this edition of the exhibition is very special, especially since it coincided with the Sovereignty Day holiday, in addition to the size of participation and contribution from the government and private sectors, indicating that the ministry seeks to make the activities of the exhibition more practical during the next stages. Oilmarket analysis

He added that the Ministry of Communications’ vision stems from enhancing harmony and integration between the public and private sectors, noting that the technology sector now controls a share ranging between 60 and 70 percent compared to the oil and gas sectors, describing this as the beginning of what is to come, especially with the introduction of artificial intelligence technologies that will lead to major developments in the sector.

He noted that the absence of the technical advisor and assistant at the Ministry of Communications from the conference was due to their presence in the United Arab Emirates to sign a contract related to internet traffic to Iraq, stressing that the ministry is working to develop the communications infrastructure and enhance Iraq’s position in the field of internet transit traffic.

The minister called for Iraq to be a safe environment for transit, explaining that the ministry had signed memoranda of understanding with a number of companies such as (Salam, Ooredoo and Zajel) and other American companies in this field.

He noted that a number of Iranian companies were absent from the exhibition due to travel procedures, stressing that the ministry would sign memoranda of understanding with other Iranian companies today.

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Afaction describes the surrender of weapons as “delusions” and threatens to target countries in the region.

The “Companions of the Cave” faction, in a statement issued on the occasion of the withdrawal of the international coalition forces from Iraq, asserted that the issue of handing over weapons is merely “illusions,” while also issuing a threat to the countries participating in striking Iran. Businessnews alerts

The faction said in a statement: “The issue of surrendering weapons is a delusion dreamt of by the weak, the humiliated, and the dollar slaves. Starting tonight, any foreign presence, whether on land or in the air, will witness a military response from us. This is a legitimate right guaranteed by international conventions to confront the occupation.”

He added that what Tom Barak dreams of, which is removing Iraq from the arena of the axis of resistance, is a difficult goal and will not be achieved. We will continue to participate according to the policy of the axis, and any country that participates in any aggression against the Islamic Republic must evacuate all its military and economic interests, and some of them should expect a response at any time, in revenge for the martyrs of the Popular Mobilization Forces.

He continued, ” In the near future, we will unveil our new weapon that will please our friends and anger our enemies. We affirm that we are not subject to any political or partisan authority, and that our close ideological connection is with the religious authority. Whoever wants us to hand over our weapon, let him bring us a written text from it that requires this.”

He added: The leaders of the Popular Mobilization Forces must confront the conspiracies being hatched in the military decision-making office to weaken the PMF and pressure them to leave the vulnerable areas. We do not rule out that there may be pressure from Tom Barrack and Saudi influence in this office.

The US Department of Defense, the Pentagon, announced this morning that the United States and its partners in the international coalition have officially concluded Operation Inherent Resolve in Iraq.

Prime Minister and Commander-in-Chief of the Armed Forces Ali Faleh al-Zaidi also sponsored the official ceremony on the occasion of Sovereignty Day and the end of the mission of the international coalition forces to fight ISIS in Iraq, and stressed that “there is no weapon outside the umbrella of the law, and no force outside the institutions of the state, in accordance with what the constitution stipulates and in accordance with what our wise religious authority called for and what our people want.”

Shafaq.com

Nechirvan Barzani will visit Baghdad tomorrow to attend the ceremony marking the end of the international coalition’s mission in Iraq.

The President of the Kurdistan Region, Nechirvan Barzani, is expected to pay an official visit to the capital, Baghdad, on Thursday to participate in the ceremony marking the end of the military mission of the US-led international coalition against ISIS in Iraq.

The Iraqi government is scheduled to hold a central official ceremony on this occasion, attended by senior state officials, military and security leaders, political and social figures, and representatives of the international coalition. Iraqipolitics analysis

This visit coincides with the announcement by the Commander-in-Chief of the Armed Forces and Prime Minister Ali Faleh al-Zaidi that the international coalition’s mission in Iraq has officially ended, expressing his gratitude to the coalition countries for their support of the security forces during the fight against terrorism.

For its part, the US Department of Defense, the Pentagon, announced that the United States and its partners in the international coalition have officially concluded Operation Inherent Resolve in Iraq.

In contrast, the international coalition against ISIS in Iraq confirmed that there is no justification for the continued presence of armed groups in light of its withdrawal from the country.

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