Al-Marsoumi reveals the conditions set by foreign companies for resuming oil production in Kurdistan.

Economic expert Nabil al-Marsoumi explained on Wednesday that foreign companies operating in the oil sector have set a number of conditions before resuming production and exports in the Kurdistan Region.

Al-Marsoumi stated in a Facebook post that “these conditions include, firstly, the necessity of protecting oil fields and wells from drone and missile attacks to ensure the safety of facilities, workers, and foreign technical staff.”

He added that “the second condition is the establishment of a clear and regular mechanism to guarantee the payment of current financial dues upon the resumption of exports, in accordance with the amendments to the federal budget law.”

He pointed out that “the third condition pertains to the necessity of settling outstanding debts and previous dues owed by the companies, including those owed to the Norwegian oil company DNO, which previously announced the cessation of production and exports via pipelines in the region due to delayed payments estimated at approximately one billion dollars.”

Al-Marsoumi emphasized that “resolving these issues is essential for the normal resumption of oil activity in the region.”

Almaalomah.me

A decisive move without fanfare: a strategic step to remove the protective umbrellas from the corrupt.

It appears that serious action has recently begun between the executive and legislative branches, taking a different approach from the usual media channels. This involves moving beyond empty slogans and grandiose press releases towards intensive, practical steps aimed at dismantling financial and administrative corruption networks at their roots.

These quiet yet serious moves are being undertaken through joint coordination between the executive and legislative branches, activating high-level investigative committees with broad powers and conducting a comprehensive review of legal loopholes in investment contracts and major projects that have drained the state treasury for years.

This strategic shift, agreed upon during an extensive meeting between the Integrity Commission and the Parliamentary Integrity Committee, reflects a genuine desire to build a rigorous oversight environment based on forensic evidence and professional financial auditing, free from politicization or defamation. This paves the way for recovering embezzled funds and restoring the prestige of state oversight institutions, amidst public anticipation of the tangible results of these measures.

In this context, a parliamentary source within the Integrity Committee revealed on Wednesday details of an extensive meeting held with the Federal Integrity Commission, which resulted in a strategic agreement to resolve current and past major corruption cases and refer them to the judiciary, free from political interference.

The source told Al-Maalomah News Agency that “the meeting resulted in a bilateral agreement to proceed with resolving the cases without any pressure,” emphasizing that “if any party is subjected to political pressure to protect corrupt individuals, the parties involved will be immediately exposed to the public through the media.”
He added that “this step includes opening massive and serious corruption cases valued at tens of billions of dollars, related to suspicious government contracts and encroachments on state properties.”

The source, who preferred to remain anonymous, explained that “the agreement also included imposing complete confidentiality and preventing the leaking of details of the cases to the media before their final resolution, to ensure they are not delayed and to expedite legal procedures and bring those involved to justice.”

Member of Parliament’s Integrity Committee, Ahmed al-Shammari, revealed the committee’s continued pursuit of corruption cases, the recovery of stolen funds, and the prosecution of fugitives involved both inside and outside Iraq. He emphasized that the amount of embezzled funds has doubled in recent years.

Al-Shammari told the Al-Maalomah news agency, “The Integrity Committee continues to pursue cases of recovering stolen funds and prosecuting those accused of corruption inside and outside Iraq, in coordination with the relevant authorities.”

He added, “The amount of embezzled funds has doubled in recent years, necessitating more effective measures to recover public funds and hold those involved accountable.”
He indicated that “the coming period will witness the opening of major and serious corruption cases concerning various state institutions, as part of efforts to combat corruption and enhance transparency.”

He affirmed that “combating corruption and recovering stolen funds are national priorities due to their role in protecting public funds and strengthening citizens’ trust in state institutions.”

Almaalomah.me

The Ministry of Finance announces the launch of the third phase of the ASYCUDA project.

he Ministry of Finance directed the launch of the third phase of the ASYCUDA project at the beginning of July. In a statement received by Al-Maalomah News Agency, the ministry said, “The Minister directed the launch of the third phase of the ASYCUDA project at the beginning of next month, which supports efforts to develop customs operations and enhance digital transformation at border crossings and customs centers.”

The statement emphasized that “the ASYCUDA project represents one of the fundamental pillars in modernizing customs administration, as it provides tools that contribute to simplifying procedures, enhancing transparency and oversight, and raising performance efficiency, which will positively impact non-oil revenues and improve the business environment.”

It added that “the Customs Authority has completed a significant portion of the technical and procedural requirements for the project,” noting that “the third phase will constitute a qualitative leap in managing customs operations by expanding the scope of automation and strengthening electronic monitoring at border crossings.”

Almaalomah.me

Abdul Qader: The million-dollar bribery allegations necessitate revealing the big names to the public.

Former MP Abdul Qader Mohammed confirmed that talk of a $200 million bribe offer is a dangerous indicator of the extent of corruption permeating state institutions, indicating that the current stage requires moving from general statements to revealing the facts to the public.

Abdul Qadir told Al-Maalomah News Agency that “any information related to attempts to offer bribes of this magnitude must be accompanied by clear judicial and public procedures, because the citizen is waiting to know the parties and figures involved, and not just to point out the existence of corruption files without resolving them.”

He added that “combating corruption is not achieved by statements alone, but by referring those involved to the judiciary and revealing names and facts to the public, especially if the case involves huge sums that affect public funds and the prestige of the state.”

He pointed out that “the Iraqi street is looking forward to opening the major files that wasted billions of dollars during the past years and holding all those involved accountable, regardless of their positions or political affiliations,” stressing that “establishing trust between the citizen and state institutions begins with transparency and publicly revealing the results of investigations.”

It should be noted that corruption remains one of the most prominent challenges facing the state, amidst ongoing demands to open major cases, disclose the results of investigations to the public, and hold those involved accountable within the legal framework, free from any political considerations.

Almaalomah.me

The framework allows Al-Zidi to complete his cabinet, and the latter is proposing a quarter-trillion-dollar project.

A source familiar with the behind-the-scenes details of the recent meeting of the Coordination Framework forces revealed on Wednesday that Prime Minister Ali al-Zidi announced his intention to establish a “sovereign development fund” with a capital of approximately a quarter of a trillion dollars, with Gulf participation. The source also indicated that the assembled forces authorized al-Zidi to freely choose the blocs’ candidates to fill the vacant ministerial portfolios in his government cabinet.

The source told Shafaq News Agency that “the forces of the Coordination Framework, during their last meeting, gave Al-Zidi the green light to complete his government cabinet through dialogue with the parties entitled to occupy ministerial positions.”

He added that “the political blocs will nominate a number of names, and Al-Zaydi will personally choose whomever he deems suitable for the position, especially the Minister of the Interior. The ministries that fall within the share of the parties that have armed factions were also discussed, and Al-Zaydi will also conduct dialogue with them to reach a specific mechanism regarding the nomination of the candidate.”

The source indicated that “this matter will be resolved after Al-Zidi’s visit to Washington, and therefore the completion of the cabinet will be after the end of the legislative recess of the House of Representatives.”

He pointed out that the issue of the mechanism for integrating armed factions into the Popular Mobilization Forces, and the results of the work of the committees overseeing the restriction of weapons to the hands of “both were addressed during the meeting.”

In another part of the meeting, Al-Zaydi revealed his intention to “establish a sovereign development fund that will provide great job opportunities for young people, as it will be allocated to developing infrastructure and implementing important projects, which necessitates employing unemployed youth.”

According to the proposal, “the fund will be initially financed by the Central Bank of Iraq with ten billion dollars, and some Gulf countries will be approached to contribute to this fund through their companies in implementing some projects or entering into investment partnerships in implementing some projects.”

According to the source, “some Gulf countries will raise the ceiling of funding for the fund to about $250 billion.”

Al-Zaydi also reviewed everything related to the proposal in order to discuss it in detail and develop mechanisms for its implementation, as it will contribute to solving a large part of the problem of appointments, in addition to improving the state of infrastructure throughout the country, according to the source.

The Coordination Framework forces held an evening meeting last Monday, the 2nd of this month, during which they authorized the Prime Minister and Commander-in-Chief of the Armed Forces, Ali al-Zubaidi, to take the decisions and measures “that would preserve the country’s higher interests,” while announcing their support for the project to restrict weapons to the state and to separate the Popular Mobilization Forces from political, partisan, and social frameworks.

The framework stated in a statement received by Shafaq News, following its 279th regular meeting held at the office of former Prime Minister Haider al-Abadi, in the presence of Prime Minister Ali al-Zaidi, that the meeting discussed “a number of priority national and security files.”

Shafaq.com

Gold prices fell to their lowest level in 11 weeks due to the rise of the dollar and oil.

Global gold prices fell by more than 1% during trading on Wednesday, hitting their lowest level in 11 weeks, affected by the rise in the US dollar and oil prices, amid renewed military tensions between the United States and Iran, which boosted concerns about inflation and continued high interest rates.

Spot gold fell 1.8% to $4,187.59 an ounce, its lowest level since March 23, while U.S. gold futures for August delivery declined 1.7% to $4,213.40 an ounce.

This decline coincided with a rise in the US dollar, which made dollar-denominated gold more expensive for holders of other currencies, as well as an increase in oil prices by about 1% as a result of escalating hostilities between Washington and Tehran.

Tensions in the Middle East have also increased inflationary concerns, which has reinforced market expectations that the US Federal Reserve will keep interest rates high for longer, with traders anticipating a probability exceeding 70% for a rate hike by next December.

Markets are awaiting the release of US inflation data, primarily the Consumer Price Index for May, in addition to the Producer Price Index, to determine the direction of US monetary policy in the coming period.

In other precious metals, silver prices fell 1.5% to $64.43 an ounce, platinum 2.8% to $1,678.10, while palladium dropped 0.8% to $1,212.31 an ounce.

Shafaq.com

State control over weapons: Procedures begin to integrate the Imam Ali Brigades

The Joint Operations Command announced on Wednesday that the committee responsible for disengagement and integration into the security forces has received the files and data related to the fighters, weapons, equipment and vehicles of the Imam Ali Brigades, in preparation for completing the procedures for their integration and reorganization.

The command stated in a statement, received by Shafaq News Agency, that the committee formed for disengagement and integration continues its work in implementation of the government program approved by the House of Representatives.

She added that the head of the committee, Lieutenant General Qais Al-Muhammadawi, oversaw the receipt of files and data related to the personnel, weapons, equipment and vehicles belonging to the Imam Ali Brigades, in the presence of members of the committee and leaders of the brigades.

She indicated that these measures are a prelude to completing the stages of integration and reorganization, and abolishing the other names and titles specific to these formations.

The Joint Operations Command confirmed that the move falls within the government’s efforts to enhance stability, consolidate the rule of law, and restrict weapons to the state within the official security system, which contributes to strengthening the country’s security.

Iraqi Prime Minister Ali al-Zaidi confirmed on Tuesday that his government is committed to restricting weapons to the state.

The coordination framework authorized the Prime Minister to take whatever measures are necessary to preserve the higher interests, while supporting the project to restrict weapons to the state and to separate the Popular Mobilization Forces from political, partisan and social frameworks.

This path was reinforced by the Sadr movement’s announcement of the disassociation of the “Peace Brigades” from it and their integration into the state, along with calls for factions to join under the authority of the government, away from party affiliations.

Later, Asaib Ahl al-Haq and Kataib al-Imam Ali initiated organizational procedures that included forming committees to inventory personnel, weapons, and vehicles, in preparation for reorganization, linking with the Commander-in-Chief of the Armed Forces, and integrating affiliates into state institutions.

Shafaq.com

The Iraqi government announces the establishment of a $150 billion development fund and sets a date for the end of the weapons collection campaign.

Iraqi government spokesman Haider al-Aboudi announced on Wednesday that the cabinet has decided to establish a development fund project with international guarantees and contributions amounting to $150 billion to achieve economic stability through investment. He also revealed that the timeframe for implementing the plan to restrict weapons to the state ends by next September, coinciding with the withdrawal schedule of international coalition forces from the country.

Al-Aboudi said during a press conference attended by Shafaq News Agency in Baghdad that the government based its management of its files on a national vision supported by the mandate and confidence of the House of Representatives, stressing its determination to commit to restricting weapons completely to the hands of the state according to the timetables specified in the ministerial program, which ends next September, coinciding with the end of the tasks of the international coalition.

The government spokesman added that the Cabinet, under the direction of the Prime Minister, approved the formulation of a “program budget” in coordination and joint cooperation with the World Bank and the Parliamentary Finance Committee to advance economic reform in the country.

In response to a question from the agency’s correspondent, Al-Aboudi explained that the Development Fund represents an investment vehicle completely independent of the state’s general budget, and is based on international contributions from Iraq’s friends with guarantees ranging from $100 billion to $150 billion, with the aim of promoting sustainable stability.

Al-Aboudi indicated that the Prime Minister’s upcoming visit to the United States will resolve many issues, mainly related to economic aspects, stressing that Iraq adopts balanced and parallel relations with all countries.

Regarding the relationship with the Kurdistan Region, Al-Aboudi stressed that the Prime Minister directed the oil companies operating in the region to work on increasing oil production, with the aim of reaching financial outcomes and radical solutions that are directly related to securing the salaries of the region’s employees and getting out of the current crises.

Shafaq.com

Iraq is moving towards balancing programs with US support and in coordination with the World Bank.

Iraqi Finance Minister Faleh Sari discussed on Wednesday with the US Chargé d’Affaires to Iraq, Joshua Harris, prospects for economic cooperation between Baghdad and Washington and ways to strengthen the partnership with US financial institutions, while both sides affirmed their support for the path of economic and financial reforms.

The Ministry of Finance said in a statement, reported by Shafaq News Agency, that the minister stressed that the government has given the economic file high priority within its program, noting that the next stage will witness reforms aimed at addressing economic and financial challenges in a radical way, and in cooperation with international partners.

The minister revealed a government trend towards preparing a program budget and gradually moving away from the traditional budget system, with the aim of raising the efficiency of spending and linking financial allocations to goals and results, in line with the requirements of financial and administrative reform.

For his part, the US Chargé d’Affaires affirmed his country’s support for the Iraqi government and its readiness to enhance economic and financial cooperation, in a way that contributes to supporting stability and achieving sustainable economic growth in Iraq.

This trend coincides with what the government spokesman, Haider al-Aboudi, announced, that the Council of Ministers approved a directive to proceed with drafting a “program budget” in coordination with the World Bank and the Parliamentary Finance Committee, within the framework of economic reform.

Shafaq.com

Erbil announces the formation of a permanent committee with Baghdad to resolve disputes and shows flexibility to resume oil exports.

On Wednesday, the spokesman for the Kurdistan Regional Government, Peshwa Hawrami, announced that the regional cabinet had proposed to the federal government the formation of a permanent joint committee tasked with resolving outstanding disputes and issues between the two sides, stressing that Baghdad had welcomed this proposal.

Hormani said at a press conference held after a cabinet meeting in Erbil that the practical steps to form this committee will begin soon.

Regarding the oil file, the spokesman confirmed that foreign companies operating in the region held a meeting with the federal government, and the regional government participated in organizing this meeting. Kurdistan’s goal is to resolve disputes and problems.

He pointed out that if the Iraqi government provides guarantees that oil fields and facilities will not be targeted, and also secures the financial dues of companies, then the process of resuming the region’s oil exports will start at full capacity, stressing the support of the regional government for this matter, and it is ready to cooperate with Baghdad in order to get out of the crisis that Iraq is experiencing as a result of the security tensions in the region that have caused a sharp decline in oil exports.

Regarding the implementation of the ASYCUDA system for automating and updating customs data and ports, Horamani explained that the regional government is not against the system, but it should have been informed of it in advance before its implementation, given the extensive preparations required for its implementation. He revealed that a delegation from the Kurdistan Regional Government will be sent as soon as the Iraqi government delegation is ready to discuss the issue of the system.

Shafaq.com