Basra ports pump four million barrels of oil to two tankers

A source at Iraqi ports reported on Tuesday evening that two tankers are currently being loaded with four million barrels of Iraqi oil.

The source told Shafaq News Agency that “a Greek oil tanker and an Emirati tanker are currently being loaded with Iraqi crude oil from the southern Basra ports as part of the resumption of crude oil exports.”

He explained that each tanker carries two million barrels.

This comes against the backdrop of the initial understanding between Iran and America, which was announced on Sunday evening, under which the Strait of Hormuz was reopened to maritime navigation after intermittent periods of closure due to the war between Iran on one side and America and Israel on the other.

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The Iraqi economy: Al-Zaydi’s ambition clashes with the reality of the “parasitic” private sector

The Iraqi government’s ambitious plan to privatize economic management and stimulate the private sector faces severe structural and legislative obstacles, amid official and economic warnings that the local market cannot absorb hundreds of thousands of new graduates, in a country suffering from one of the highest youth unemployment rates in the region.

The government of Iraqi Prime Minister Ali Faleh al-Zaidi seeks to lead a structural transition under the title “Iraq 2050” that goes beyond what he described as the “socialist mentality” that has prevailed since the 1950s, betting on the “Iraq Development Fund” as a financial lever to link funding with employment and social security.

However, this trend clashes with a legislative environment in the House of Representatives that is moving in the opposite direction, in addition to a private sector described as “parasitic” and entirely dependent on public spending.

Labor market indicators

Data from government advisors and international organizations indicates a structural gap in the $280 billion Iraqi economy, with 70% of the budget allocated to public sector salaries.

The overall unemployment rate recorded about 15.5% during the first half of 2026, up from a range of 13.7% to 15.3% achieved in 2025, while youth unemployment rates range between 28% and exceed 32% according to the latest indicators, ranking among the highest at the regional level.

The unemployment rate among women reached about 18% according to the latest official labor market surveys, at a time when the market is facing population pressure with the population reaching 46 million people, and an influx of between 160,000 and 250,000 university graduates annually.

Private sector structure

In this context, the Executive Director of the Iraq Development Fund, Mohammed Al-Najjar, affirms that the main problem does not lie in the private sector’s inability to generate jobs, but rather in “the nature of those jobs.”

Al-Najjar adds to Shafaq News Agency, “The private sector in Iraq has been able to create many job opportunities, but they are not sustainable, due to this sector’s reliance on government spending and state contracts. It is difficult to create the required number of jobs at present until laws are enacted that allow the sector to operate independently, away from the state’s control.”

He explains that the rate of labor absorption in the Iraqi private sector remains very low compared to developed countries where the market employs between 70% and 90% of the workforce, attributing this to the absence of real competition and the entry of the state as a direct competitor in the economy.

This vision is consistent with the reality of the urban landscape; thousands of small businesses are struggling with financing difficulties, while large shopping centers and luxury residential complexes targeting the wealthier segment are expanding, thus creating a sharp polarization that is reflected in consumer behavior, which now targets either high-end luxury goods or low-priced, low-end goods aimed at low-income families.

The reality of the legislative environment

While the government asserts that the public sector’s capacity for employment has reached its maximum, legislative practices have revealed a deep gap in vision between the executive and legislative branches.

During the last legislative session, the House of Representatives discussed 23 draft laws that were distributed among the relevant committees. It was found that about 70% of these drafts included a direct trend towards increasing job redundancy by creating new bodies and councils related or not related to ministries, which promotes disguised unemployment and turns the government salary into a tool for political and social survival instead of a means of production.

In this context, Mazhar Muhammad Saleh, the financial and economic advisor to the Iraqi Prime Minister, says that “the growth of the private sector faces structural obstacles, foremost among them the dominance of the rentier economy, where oil revenues constitute between 90% and 95% of the state budget.”

In his interview with Shafaq News Agency, Saleh stated that this absolute dependence “has limited the growth of productive sectors such as agriculture and industry, and has transformed the government job in the public imagination into a political compensation for the economy’s failure to create opportunities.”

He adds that the business environment still suffers from administrative corruption, declining industrial infrastructure, factory shutdowns, and weak funding directed towards small projects, stressing that the “Iraq 2050” program seeks to address this imbalance through the triad of (financing, employment, and social security) to deal exclusively with organized market institutions.

Vision of economic diversification

For his part, economist Safwan Qusay believes that overcoming the shock of complete dependence on oil – the dangers of which became apparent with regional tensions and the closure of the Strait of Hormuz – requires directing importing businessmen to become producers.

Qusay tells Shafaq News Agency, “Iraq has an opportunity to eliminate unemployment if specialized investment maps are prepared that give an economic identity to each governorate based on its competitive advantages, in conjunction with development road projects and new cities, and the shift from importing to self-sufficiency and exporting through promising partnerships with the European Union, the United States, and the Gulf States.”

In conclusion, Qusay stressed the need to activate the banking system to finance the formal private sector, as most Iraqi banks still face obstacles related to international compliance and the ability to grant long-term credit.

Iraq Vision 2050

The Iraqi government officially launched “Iraq Vision 2050 Towards Development and the Future” on September 20, 2025, under the auspices of former Prime Minister Mohammed Shia Al-Sudani.

This comprehensive strategic program, spanning three decades, aims to bring about a radical transformation in the structure of the national economy by addressing the gaps and structural imbalances of institutions, and moving away from the rentier economy that is entirely dependent on oil.

The vision is based on diversifying national income sources, achieving 70% self-sufficiency in the food and energy sectors through sustainable green initiatives, in addition to driving major projects such as the “Development Road”.

To ensure the sustainability of the program and to prevent it from being affected by changes in administrations, Prime Minister Ali al-Zidi announced in June 2026 that his government intended to transform this development vision into a “binding legal formula” to be presented to the House of Representatives, thus making it a strategic plan that transcends successive governments and establishes a stable future based on good governance and knowledge.

Shafaq.com

Financial expert: Expectations of a dinar devaluation are driving increased demand for the dollar and fueling speculation.

Financial expert and former Director General of the Central Bank of Iraq, Mahmoud Dagher, revealed on Wednesday that expectations of a reduction in the value of the Iraqi dinar in light of the economic situation and existing debts are driving an increase in demand for the dollar and a rise in its price in the local market.

Dagher added, in an interview with Shafaq News Agency, that statements and leaks related to the work of the Central Bank or the possibility of changing the exchange rate contribute to strengthening waves of speculation, noting that the market usually enters a cycle of anticipation that pushes towards strengthening dollar holdings among various economic actors, which is directly reflected in prices.

He explained that such expectations often lead to a collective behavior among individuals and companies towards converting savings into foreign currency, which increases the demand for it in the free market.

The local markets witnessed a rise in the exchange rate of the dollar against the Iraqi dinar during the past few days; as it recorded on Wednesday in the Al-Kifah exchange 156,000 dinars for every 100 dollars, while the official rate adopted by the Central Bank is 132,000 dinars.

Shafaq.com

Central bank reserves declined during the second quarter of 2026

Recent official data from the Central Bank showed a decline in the bank’s foreign reserves during the second quarter of this year.

According to data seen by Shafaq News Agency, the reserve amounted to about 118.947 trillion dinars on May 28, compared to 120.675 trillion dinars on May 21, a decrease of 1.728 trillion dinars, or 1.43%, indicating a continued downward trend during the month of May.

According to the data, the reserve continued its decline on a monthly basis, recording about 127.152 trillion dinars in April, after it was at 130.443 trillion dinars in March, reflecting a gradual decrease in total reserve assets during the period from March to the end of May.

Regarding the components of the reserve, the value of gold included in the official reserves amounted to about 32.973 trillion dinars, which represents one of the most important elements of hedging within the structure of the foreign reserve.

This trajectory reflects fluctuations in official reserve levels, linked to multiple factors, including the movement of external returns, liquidity management, and global market volatility during the period in question.

Shafaq.com

Armies are no longer enough: the new world war is being waged from within the banks.

For decades, wars were fought with armies, tanks, and missiles. Today, the most impactful battles are waged silently through banks, financial networks, economic sanctions, and data flows. The battlefield is no longer confined to military fronts; it has extended to the heart of the global financial system, where control over the movement of money can determine the fate of governments, economies, and even entire populations.

The growing role of private financial intelligence firms, such as K2 Integrity, raises a fundamental question: Is the mission of these companies limited to helping countries combat money laundering and financial crimes, or have they become tools of geopolitical influence operating outside traditional governmental frameworks?

Officially, the rationale seems clear. Countries facing challenges related to financial corruption, money laundering, and weak banking supervision often seek external expertise to strengthen their financial systems. Developing compliance and oversight mechanisms contributes to improved transparency, attracting foreign investment, facilitating international transactions, and restoring confidence in the banking sector. From this perspective, engaging specialized firms appears logical and justified.

But the picture becomes more complex when considering the backgrounds of the leaders who run these companies. Many of their top executives previously held influential positions in the U.S. Treasury Department, where they contributed to designing economic sanctions regimes, developing counterterrorism financing strategies, and leading financial pressure campaigns against countries such as Iran, Russia, and North Korea. Therefore, their expertise extends beyond the technical aspects of banking to include using the global financial system as a tool to achieve strategic and political objectives.

This shift reflects a deeper change in the nature of international conflicts. Financial warfare has increasingly become a substitute for traditional military confrontations. Instead of deploying armies, major powers can now isolate their adversaries through economic sanctions, restricting access to the dollar, blocking transactions with international banks, and disrupting financing and trade channels. In this context, financial information has become as strategically valuable as military intelligence.

For countries like Iraq, Lebanon, and Libya, this issue is of exceptional importance. Their economies depend to varying degrees on the global financial system and, in particular, on the US dollar. Therefore, any restrictions on access to this system could lead to higher import costs, reduced investment, and increased domestic economic pressures. These countries thus find themselves facing a complex dilemma: they need to improve their banking systems and maintain their integration into the global economy, but at the same time, they fear losing some of their financial independence.

Proponents of these partnerships argue that they are essential to cleansing the banking sector of corruption, financial illicit activities, and illegal networks that have drained local economies for years. They believe that strict oversight and compliance with international standards are prerequisites for achieving economic development and attracting capital.

Critics argue that the issue extends beyond combating financial crime to reshaping the balance of power within countries themselves. Access to sensitive financial data, influence on banking decision-making mechanisms, and monitoring the flow of funds are all tools that can grant major powers broad influence that goes far beyond traditional technical cooperation.

The real question, then, is not whether money laundering or terrorist financing should be combated—these are goals on which almost everyone agrees. Rather, the crux of the debate lies in who has the right to regulate, who controls financial information, and whether these tools are used exclusively to protect the global financial system or have become part of a broader struggle for political and economic influence.

The 21st century has given rise to a new form of power. A nation’s strength is no longer measured solely by the size of its army or military arsenal, but also by its ability to control global financial networks, payment systems, currencies, and information flows. Perhaps the most influential weapon is no longer a tank or a missile, but the ability to monitor, restrict, or redirect the movement of money to serve strategic interests.

The world is witnessing the birth of a new era of international competition, one in which private financial intelligence firms stand at the intersection of economics, security, and politics. While some see them as guardians of financial integrity, others view them as an indirect extension of the influence of major powers. What is undeniable, however, is that the battles of the future will not be decided solely on the battlefield, but also within banks, financial networks, and economic decision-making centers around the globe.

Rawabetcenter.com

The government announces the purpose of al-Zaidi’s visit to Washington

Government spokesman Haider Al-Aboudi confirmed on Tuesday that Prime Minister Ali Faleh Al-Zaidi’s visit to Washington aims to strengthen the Iraqi-American partnership, noting that economic, trade and investment issues will be at the forefront of the visit’s agenda.

Al-Aboudi said in a press statement: “The Prime Minister, Ali Faleh Al-Zaidi, will pay an official visit to Washington in mid-July with the aim of establishing the necessary momentum to strengthen the Iraqi-American partnership and elevate it to an effective level within the framework of the strategic relationship between the two countries, in accordance with the principle of common interests of the two friendly peoples.”

He added, “Based on the priorities of the Iraqi government and its ministerial program, which has gained the confidence of the House of Representatives, economic, trade and investment files will be at the forefront of the axes of the anticipated visit as the cornerstone of the path of bilateral cooperation,” noting that “the government seeks to expand the horizons of strategic partnership with international companies and stimulate the investment environment in a way that contributes to achieving direct benefits for the Iraqi economy and enhances internal stability.”

Al-Aboudi continued, “Within the framework of this stability, which is based on economic foundations and flexible management of the variables of the current stage, the Iraqi government is proceeding with addressing the issue of unregulated weapons and working to restrict their possession and use to the state and its competent institutions, as they are constitutionally authorized to make the sovereign decision in this field.”

Prime Minister Ali Faleh al-Zaidi received in his office the US President’s Special Envoy, Tom Barrack, and discussed with him the Iraqi government’s shared commitment to establishing a strong and mutually beneficial US-Iraqi partnership capable of fulfilling the aspirations of Iraqis for a future of sovereignty, security and prosperity, and providing tangible benefits to both the Iraqi and American peoples.

Alforatnews.iq

Radhi: The stability of the dollar is linked to the continued flow of oil revenues.

Rasoul Radhi, a member of the State of Law Coalition, confirmed the resumption of oil revenue transfers from the US Federal Reserve to Iraq after a recent halt. He noted that the funds arrived in Iraq, particularly after the selection of the new prime minister.
Radhi told Al-Maalouma, “The exchange rate of the dollar in local markets depends on the foreign currency sent to Iraq, especially since Iraqi oil sales go to the US Federal Reserve.”

He added, “Iraq receives approximately $350 million weekly from the Federal Reserve as revenue from oil sales, but these payments were suspended recently due to regional developments. The funds were then resumed after the selection of the new prime minister.”

He explained that “the Federal Reserve sent $1 billion to Iraq after the prime minister was chosen, and it is unlikely that the flow of revenues to Iraq will stop, especially given the Federal Reserve’s confidence in the new Iraqi government.”

Almaalomah.me

A call for strict governmental and legal action to control the oil smuggling issue across the region.

The economic expert Hashim al-Haboubi called on the federal government on Tuesday to take firm and realistic measures against the Kurdistan Regional Government to prevent ongoing oil smuggling operations, coinciding with the recent international breakthrough of reopening the Strait of Hormuz to compensate for Iraq’s losses in recent months.

Al-Haboubi told the Information Agency that “the recent agreement between Tehran and Washington, which allowed for the reopening of the Strait of Hormuz and the resumption of oil exports, necessitates decisive government action to control the internal oil sector.”

He added that “the sharp decline in oil exports over the past period due to tensions and the closure of the Strait of Hormuz has had a severe negative impact on the Iraqi state treasury’s revenues,” noting that “previous governments failed to prevent the continued smuggling of oil through the region, which caused significant damage and a large waste of public funds.”

Al-Haboubi pointed out that “Baghdad is now obligated to impose its legal and regulatory authority on the region’s border crossings and oil fields to prevent any illegal sales that harm the national economy.”

Almaalomah.me

A race against time… Parliament heads to an extraordinary session to decide on the cabinet.

Political and parliamentary efforts are intensifying to complete the new cabinet and fill the remaining vacant ministerial posts before the end of the current legislative recess. This comes amidst increasing pressure from members of parliament on the leaders of political blocs to expedite agreement on the nominated candidates and convene an extraordinary session to vote on them.

MP Mukhtar al-Youssef revealed that there is a parliamentary movement underway to gather the necessary signatures to hold an extraordinary session of parliament to finalize the remaining cabinet positions. He confirmed that a number of MPs are exerting significant pressure on the heads of political blocs to resolve this issue in the near future.
Al-Youssef told the Information Agency, “There is a real movement within parliament to collect the necessary signatures to hold an emergency session in order to finalize the remaining cabinet positions before the end of the legislative recess.” He explained that “completing the government formation has become an urgent necessity in light of the political, security, and economic challenges facing the country.”

He added that “filling the vacant posts will contribute to strengthening government performance and activating the work of the remaining ministries, which will positively impact the implementation of the government program and improve the level of services.”
In contrast, former MP Abdul Hadi al-Saadawi dismissed the existence of divisions among political blocs regarding the remaining ministerial portfolios, asserting that the delay is not related to disagreements between political forces, but rather to differences within some blocs concerning their candidates for ministerial positions.

Al-Saadawi explained to Al-Maalomah that “talk of political divisions over the cabinet is exaggerated, as the main problem lies in the internal disagreements within some blocs regarding the names nominated for the remaining portfolios.”

He pointed out that “these disagreements were among the reasons that led to the postponement of finalizing several ministries during the past period,” noting that “reaching understandings within the political blocs would pave the way for holding a voting session and proceeding with the completion of the cabinet in its entirety.”

Observers believe that the success of MPs in gathering the required signatures to convene an extraordinary session could expedite the resolution of one of the most prominent outstanding political issues, especially given the increasing demands to complete the government structure and allow the new ministers to assume their duties before the start of the next legislative session.

Amid pressure from members of parliament and efforts by political blocs to reach final agreements, the coming days appear crucial in determining the fate of the remaining ministerial portfolios, and whether the political forces will be able to close this file before the end of the legislative recess, or whether internal disagreements will postpone the decision to a later date.

Almaalomah.me

Cautious anticipation… What awaits Iraq after the US-Iran agreement?

While political assessments in Baghdad and the region’s capitals race to read what might result from the recent US-Iranian understanding, the Iraqi scene seems closer to a gray area that oscillates between optimism about the possibility of capitalizing on the breakthrough, and cautious waiting until it becomes clear whether the agreement will actually hold on the ground or remain a fragile political framework that is susceptible to shaking at the first regional test.

This ambiguity is further compounded by the complexities of the Iraqi scene itself, where political, security and economic issues are intertwined with an extensive regional and international network of influence, making Iraq one of the countries most affected by any shift in the relationship between Washington and Tehran, whether in terms of internal stability, power balances, or even regional energy and trade routes.

According to initial announcements, the “peace agreement” between the United States and Iran, mediated by Pakistan, includes a cessation of military operations, the reopening of the Strait of Hormuz to international navigation, the lifting of the naval blockade on Iran, and the opening of a path for nuclear negotiations within 60 days.

Although the executive details are still incomplete, the mere announcement of it on Sunday night/Monday morning has begun to affect market expectations and regional powers’ assessments, in an early indication that its potential repercussions will not remain confined to Washington and Tehran, but will necessarily affect countries, foremost among them Iraq.

Iraq and regional conflicts

In this context, political analyst Imad Al-Musafir, who is close to the coordination framework, says that Iraq is “within a region teeming with conflicts, and it is certain that any escalation or stability in this region will have a negative and positive impact on the Iraqi interior, especially given the significant economic and political ties between Iraq and the countries of the region.”

The traveler adds to Shafaq News Agency that what is required today is “a clear vision for the Iraqi political decision-maker regarding what is happening in the region, and to employ it correctly in a way that serves Iraqi interests, and not at the expense of national constants and principles held by the Iraqi people.”

Conditional opportunity

In contrast, Dr. Ihsan Al-Shammari, Professor of Strategic and International Studies at the University of Baghdad and Head of the Center for Political Thought, believes that Iraq may be one of the most prominent countries to benefit from ending the state of war between Washington and Tehran, given the magnitude of the direct effects that this confrontation has on the Iraqi interior.

Al-Shammari told Shafaq News Agency that Iraq “was one of the countries most affected by the military operations between America and Iran, and the accompanying political, diplomatic and economic repercussions,” adding that the agreement “represents an opportunity for Ali al-Zaidi’s government to rearrange the cards, especially at the political level, towards a roadmap for reforming the state and its institutions and putting forward a national project.”

On the economic level, Al-Shammari, speaking to Shafaq News Agency, points out that previous tensions, especially those related to the Strait of Hormuz, have affected oil revenues, but he sees the current easing of tensions as an opportunity that should be invested more deeply by “diversifying the routes for exporting Iraqi oil through Saudi Arabia, the port of Yanbu, Jordan, Syria and even Turkey, which would allow for pumping approximately 1.4 million to 1.5 million additional barrels.”

He adds that “the issue is not just about increasing revenues, but about restructuring the Iraqi economy according to the realities of the war that took place.”

From a security standpoint, Al-Shammari believes that the agreement could constitute “a supporting document for the principle of restricting weapons to the state, as there is no justification for any weapons remaining outside the framework of the state,” noting that the next stage may push the government to move forward with the issue of armed factions within broader understandings with Tehran.

But Al-Shammari warns at the same time against being satisfied with traditional approaches, saying that this “will not bring Iraq any more benefit,” noting that even Iraqi-American and Iraqi-Gulf relations “were damaged during the previous stage, and that today the opportunity is ripe to rearrange them quickly.”

Caution and vigilance

Despite the positive atmosphere that accompanied the announcement of the agreement, Dr. Haitham Al-Hiti, a professor of political science at the University of Exeter in Britain, calls for greater caution in interpreting the current stage.

Al-Hiti told Shafaq News Agency, “No one knows how solid the agreement is or its ability to become a reality,” adding that “the agreement is still fragile and unclear, and came after many political maneuvers and compromises.”

He believes it is too early to talk about decisive repercussions for Iraq, whether positive or negative, noting that “the next stage will be determined not only by the American-Iranian relationship, but also by the American role within Iraq.”

He adds that the American agenda being managed by envoy Tom Barrack inside Iraq “will be more influential than the course of the relationship between Washington and Tehran,” explaining that the measure of developments in Iraq “will be linked to the American role and the plan that Barrack will implement, and to how the Iraqi political forces respond to this shift in light of the pressing economic reality.”

Multiple gains

For his part, writer and political analyst Ali Al-Baydar believes that the agreement opens a new window for Iraq that could turn into a lasting gain if it is properly utilized.

Al-Bader told Shafaq News Agency that Iraq “could be one of the regional countries most positively affected by the agreement, given its geopolitical location and its relations with the parties involved.”

He points out that the previous phase, especially since the events of October 7, 2023, imposed dual American and Iranian pressures on Iraq that made the “political compass unstable,” adding that any breakthrough may alleviate internal polarizations and disparities in political loyalties.

Economically, Al-Bader expects that stability will enhance the investment environment and increase confidence in the Iraqi economy, while in terms of security, he believes that the agreement will likely lead to “a decrease in mutual attacks and a reduction in the use of Iraqi territory as a battleground,” giving security agencies an opportunity to focus on issues such as combating terrorism.

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