SVR: US-UK talks to replace Zelensky with Zaluzhny

Russia’s Foreign Intelligence Service (SVR) revealed on Tuesday that the United States and the United Kingdom are considering replacing Ukrainian President Volodymyr Zelensky.

The agency added that the discussions were attended by Zelensky’s chief of staff, Andriy Yermak, the head of Ukrainian military intelligence, Kyrylo Budanov, and the former commander-in-chief of the Ukrainian Armed Forces and current ambassador to London, Valeriy Zaluzhny.

Russian intelligence reported that Washington and London have decided to nominate Zaluzhny for the presidency of Ukraine, adding that “replacing Zelensky has become a prerequisite for restructuring Kyiv’s relations with the West, particularly with the United States,” according to the statement.

Zelensky’s term was supposed to end in 2024, but martial law imposed by Ukraine in February 2022 prevented presidential and parliamentary elections from taking place.

Washington has previously stated that it wants Kyiv to hold elections, possibly by the end of the year, especially if Kyiv can agree to a truce with Moscow in the coming months.

Russian President Vladimir Putin has publicly stated that he does not believe Zelenskyy is a legitimate leader in the absence of a new electoral mandate, and that the Ukrainian president does not have the legal right to sign binding documents related to a potential peace agreement.

Shafaq.com

The President of the Republic issues a decree appointing Al-Atwani as Governor of Baghdad

Iraqi President Abdul Latif Jamal Rashid issued a presidential decree on Tuesday appointing Atwan al-Atwani as head of the local government of the capital, Baghdad.

Rashid, in accordance with the decree he signed on July 29, directed the relevant authorities to implement the decree from the date of its issuance, and it will be published in the Official Gazette.

On Sunday evening, July 27, the Baghdad Provincial Council elected Atwan al-Atwani, a leader in the State of Law Coalition and head of the Parliamentary Finance Committee, as the new governor.

On Saturday, July 26, President Abdul Latif Jamal Rashid approved the retirement of Baghdad Governor Abdul Muttalib Al-Alawi.

This is the second time Al-Alawi has been referred to retirement. The council previously voted to dismiss him on July 3, at which time Haider Mohan was elected as the new governor.

Shafaq.com

Iraq’s financial revenues exceed 46 trillion dinars in five months.

The Ministry of Finance revealed on Tuesday that Iraq’s federal budget revenues from January to May 2025 exceeded 46 trillion dinars, confirming that oil accounts for 91% of the budget.

Shafaq News Agency followed up on the data and tables issued by the Ministry of Finance in June for the fiscal year’s accounts for the first five months of the current year. The data showed that oil remains the primary source of revenue for Iraq’s general budget, accounting for 91% of the total. This indicates that the rentier economy is the foundation of the country’s general budget.

The financial tables indicated that total revenues amounted to 46 trillion, 157 billion, 110 million, 408 thousand, and 761 dinars.

According to the tables, oil revenues amounted to 41 trillion, 930 billion, 805 million, and 332 thousand dinars, representing 91% of the general budget, while non-oil revenues amounted to 4 trillion, 226 billion, 305 million, and 75 thousand dinars.

She indicated that the total salaries of employees amounted to 27 trillion, 653 billion, 233 million, and 819 thousand dinars, while retirement salaries amounted to 7 trillion, 953 billion, and 199 million dinars, and social network salaries amounted to 2 trillion, 329 billion, 435 million, and 774 thousand dinars.

According to the budget, total expenditures for current expenses amounted to 43 trillion, 951 billion, 426 million, and 654 thousand dinars.

In March 2021, the Prime Minister’s financial advisor, Mazhar Mohammed Salih, told Shafaq News Agency that the reasons for the economy remaining rentier are due to the wars and economic blockade imposed on Iraq during the past era, as well as the political conflicts the country is currently witnessing, which have led to the dispersion of economic resources.

The Iraqi state’s continued reliance on oil as its sole source of public finances places it at risk from the global crises that occur from time to time, due to the impact of oil prices. This forces the country to each time resort to covering its deficit through external or domestic borrowing. This indicates an inability to manage state finances effectively and an inability to find alternative financing solutions.

Shafaq.com

Türkiye demands Iraq guarantee “full use” of the Kirkuk-Ceyhan pipeline through a new agreement.

Turkish Energy Minister Alparslan Bayraktar confirmed on Tuesday that his country demands that the proposed new agreement with Iraq include a “mechanism ensuring full use” of the Kirkuk-Ceyhan oil pipeline, as part of ongoing negotiations to expand the bilateral agreement in the energy sector.

Bayraktar noted, in statements following the cabinet meeting, that the pipeline’s capacity is approximately 1.5 million barrels per day, but “even during operational times, it has not been used at full capacity.”

The pipeline has been inactive since 2023, following an arbitration ruling that ordered Türkiye to pay $1.5 billion to Baghdad for unauthorized oil exports between 2014 and 2018, a ruling Ankara is still appealing.

Ankara stated that the decades-old agreement will expire in July 2026, and it proposes extending it to include cooperation in the fields of gas, electricity, and petrochemicals, in addition to oil.

The Turkish minister did not rule out the possibility of extending the pipeline to southern Iraq, noting that “the path to full capacity necessarily passes through the south.”

Bayraktar linked this to the “Development Road” project, which connects Basra to the Turkish border and then to Europe, for which initial Iraqi funding was allocated in 2023.

shafaq.com

OPEC+ asks Iraq to submit a plan to compensate for excess oil production.

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) has asked Iraq to submit an updated plan to compensate for excess oil production that exceeded its quota under production agreements.

The committee stressed the need for full compliance with the production cuts agreed upon by member states, emphasizing the importance of submitting a compensation plan before August 18, 2025.

This request comes as OPEC+ continues to closely monitor oil markets, amid moves to increase production by 548,000 barrels per day in September, as part of a gradual plan to ease some of the production cuts previously imposed by the organization.

The committee emphasized that adherence to production agreements is a fundamental pillar for maintaining oil market stability and supporting oil prices, especially given fluctuations in global demand.

The Joint Ministerial Monitoring Committee emphasized that its role is limited to monitoring member states’ compliance with production quotas. It does not have the authority to make final decisions regarding production levels, leaving this authority to official OPEC+ meetings.

It’s worth noting that OPEC+, which includes the world’s major oil producers including Iraq and Russia, currently produces about half of global oil production.

It had imposed strict production cuts in recent years to support the oil market, but since the beginning of 2025, it has begun gradually easing these cuts to regain its market share amid changing global demand.

In a related development, OPEC+ members are expected to hold a meeting in early August to discuss the possibility of an additional 548,000 barrels per day (bpd) increase in production for September, given the continued support for prices from summer demand and the failure of some countries to fully comply with their production quotas.

Shafaq.com

Government program and economic policies revive the dinar

In its third year of implementation, the government program continues to make steady progress toward achieving its economic goals, despite the complex challenges posed by regional and international realities, particularly regarding the threat of war, fluctuations in energy markets, and volatile global economic cycles.

However, national growth indicators remain evident across various infrastructure sectors, supported by remarkable levels of economic stability, most notably the annual inflation rate remaining below the 3 percent mark. This indicates the ability of economic policy to absorb shocks and manage resources relatively efficiently.

qualitative transformations

In this context, Dr. Mazhar Mohammed Saleh, the Prime Minister’s financial advisor, told Al-Sabah that the parallel currency market has witnessed a qualitative transformation over the past period. Previously, it was governed by “noisy patterns” that generated sudden price fluctuations. Today, it has become more stable and is gradually being driven by the official market.

Saleh attributes this shift to the effective coordination between fiscal, monetary, and trade policies, which contributed to the flow of accurate and well-thought-out information signals, enabling the market to shift from a state of volatility and speculation to a calmer trading environment more in line with the country’s economic reality.

Integrated procedures

Saleh adds that this positive shift is the result of a series of integrated measures that have contributed to narrowing the gap between the official and parallel dollar rates, most notably the strict legal ban on dollar use in domestic transactions, particularly in the real estate market, which is one of the most sensitive sectors.

He added, “The transition to a mechanism for financing foreign trade through global correspondent banks, rather than relying exclusively on the central bank’s window, has contributed to reducing compliance risks and decreasing reliance on the informal market.”

Another factor that has contributed to enhanced market stability, the advisor said, is the entry of small importers into the official dollar financing network, without the need for money exchange companies. This has facilitated their access to foreign currency at direct official exchange rates, especially since their trade represents approximately 60 percent of the private sector’s foreign trade.

Administrative facilities

Dr. Saleh points out that this transformation was achieved through administrative facilitation provided by the government and the reduction of bureaucratic loopholes that previously hindered import financing and implementation.

The financial advisor emphasized that the expanding use of electronic payment cards in foreign currency, particularly among travelers, has been an additional factor in reducing pressure on the cash dollar, given the availability of cash allocations at the official exchange rate through banking outlets located throughout airports, and with flexible and organized compliance mechanisms.

He pointed to the role played by cooperative societies, food baskets, and construction goods, which are imported in dollars at the official exchange rate of 1,320 dinars, in supporting the price stability policy. This has enabled the government to use trade as a tool to achieve monetary stability, as part of an integrated strategy for economic policies in implementing the government program.

Fluctuations in the US economy

In contrast, financial and economic expert Dr. Safwan Qusay pointed out that the Iraqi dinar, despite its relative resilience, remains vulnerable to the effects of global markets and fluctuations in the US economy. Speaking to Al-Sabah, he pointed out that the new customs restrictions imposed by the US administration on some imports have weakened exports from key countries such as China, Japan, the European Union, and Canada. This has led to a relative decline in the value of the US dollar globally, which opens the way for the Federal Reserve to consider reducing interest rates, which could negatively impact the dollar’s attractiveness as a reserve currency.

Qusay believes that the Iraqi market is often subsequently affected by these shifts, which may partly explain the recent decline in the dollar’s price in the informal market, due to the potential entry of cash dollars into Iraq via neighboring countries amid these changes.

strong bumpers

Qusay warns that the continued decline in the value of the dollar could pose future risks to the central bank’s reserves, especially with an increasing number of countries diversifying their reserves away from the US dollar and resorting to gold or other currencies. However, Qusay emphasized that Iraq still possesses strong buffers that protect it from these risks, most notably its massive dollar reserves at the central bank and its possession of more than 116 tons of gold, which is also witnessing a rise in value globally. He also points out that current oil prices remain at levels sufficient to ensure the stability of the dinar in the long term.

near.

Qusay believes that maintaining this stability requires the Central Bank to review its reserve management strategies and ensure they are not affected by dollar fluctuations. He also believes that it is necessary to accelerate steps to diversify the economy and control revenues and expenditures to avoid any potential repercussions of the dollar’s decline on the value of the Iraqi dinar.

Alsabaah.iq

10 Reasons Behind the Decline in the US Dollar Against the Iraqi Dinar

The exchange rate of the dollar against the Iraqi dinar has witnessed a significant decline recently. This decline is due to a group of intertwined economic and procedural factors, which vary in their level of influence but, together, have contributed to strengthening the dinar, according to the economic expert .Manar Al-Abidi.

And as follows – according to: Al-Obaidi The most prominent of these reasons:

1- Economic contraction and declining consumer confidence.
The state of uncertainty facing the Iraqi market, as a result of the economic slowdown, has led to a decline in the confidence of individuals and institutions in spending, which has negatively impacted the volume of public demand, thus reducing the need for the dollar as a stimulus for trade.

2- Halting government investment spending
. The government’s focus on operating spending rather than investment spending has led to a decline in economic activity. Since the general budget is the primary driver of economic activity, reducing investment spending has reduced aggregate demand, including the demand for the dollar.

3- Tightening control over border crossings.
Government measures to limit smuggling and regulate relations with Kurdistan Region It contributed to reducing the phenomenon of inflated invoices, which reduced the unreal demand for dollars in the parallel market.

4- Traders’ shift to the formal banking system.
Markets witnessed the entry of a large segment of traders into the formal banking system, and their reliance on the official dollar exchange rate through approved platforms, which reduced the volume of trading in the parallel market and eased pressure on the dollar.

5- Decline in re-exports.
The decline in re-exports of goods to neighboring countries led to a reduction in demand for imported goods, which directly reflected a decline in the need for dollars to finance these trade operations.

6- Settling the dues of major companies in petroleum products instead of cash
. The government proceeded to settle a portion of the dues of foreign companies in black oil and naphtha instead of cash, which reduced reliance on dollars sold by the Central Bank and increased their supply in the market.

7- Preparations for the electoral process
. With the start of the election season, the volume of spending related to the election campaigns increased. This spending is often financed from cash reserves stored in dollars, which necessitated converting large amounts of these reserves into dinars to cover campaign expenses, thus increasing the supply of dollars.

8- The increase in the number of foreign visitors and arrivals
contributed to the increase in the number of arrivals to Iraq Introducing large quantities of foreign currency into the local market, which provided an additional source of hard currency outside the framework of central bank sales, and contributed to increasing the availability of dollars.

9- The cessation of illicit trade as a result of the closure of the borders with Syria
The closure of border crossings with Syria contributed to the reduction of smuggling and illegal trade, which had been heavily dependent on dollars on the parallel market. This led to a further decline in demand for the dollar.

10- The decline in the issued currency and the withdrawal of some of it from the market
.Central Bank of Iraq By withdrawing part of the dinar money supply from the market, this led to a double demand for the Iraqi dinar against the dollar. This balance in demand levels between the two currencies helped strengthen the value of the dinar and raise its exchange rate against the dollar in the parallel market.

Al-Obaidi stated that these are the main reasons that led to the decline in the exchange rate against the dinar. The question remains as to the extent to which each reason affects the official exchange rate, and there may be other reasons. I believe that the sequence of reasons above reflects the importance of each factor on the exchange rate in the parallel market.

Alsumaria.tv

Financial expert: “Economic uncertainty” behind the dollar’s decline in Iraq

Financial expert Mahmoud Dagher attributed the gradual decline in the US dollar exchange rate against the Iraqi dinar on Monday to “economic uncertainty,” weak government spending, and a stagnant market.

Dagher told Shafaq News Agency, “The reason behind the dollar’s decline against the Iraqi dinar is the state of uncertainty in the Iraqi economy, the recession resulting from the somewhat low price index, and the disproportion between the dinar and the volume of the dollar being transferred, as the volume of the dinar has begun to shrink in the face of a large supply of dollars.”

He added, “This is an issue with no clear economic variable or direct government decision, because the state is spending less, and when the pace of spending decreases, demand pressure decreases accordingly.”

Dagher pointed out that “the gap still exists, at approximately 8,000 dinars per note, which means we are still far from the target price, and speculation continues in the markets.”

The dollar exchange rate has been gradually declining since the beginning of this year, approaching the official rate adopted by the Central Bank of Iraq.

Ahafaq.com

Among them is an Arab figure… Trump uses his personal phone to communicate with world leaders.

Politico, the US newspaper, revealed on Monday that President Donald Trump had given his personal phone number to world leaders so they could communicate directly with him. The newspaper confirmed that one of the leaders was an Arab.

According to the newspaper, Trump’s tendency to engage in frequent, often informal, friendly conversations has become an integral part of his personality. For example, in early March, British Prime Minister Starmer used WhatsApp to write to Trump, asking him to revive his relationship with Zelensky and restore it to normal.

She added, “The list of leaders who have such close contact with President Trump also includes French President Emmanuel Macron, Saudi Crown Prince Mohammed bin Salman, and Israeli Prime Minister Benjamin Netanyahu.”

However, a source, according to the newspaper, indicated that Trump’s offer may have initially confused some, but now heads of state who want to maintain a good relationship with the US president are calling and texting him regularly.

Shafaq.com

Ministry of Transport: The development path will change the economic landscape and make Iraq a hub for global trade.

The Ministry of Transport announced on Monday that the development road will change the economic map and make Iraq a center for global trade, while indicating that the road will provide job opportunities for more than 100,000 Iraqi workers. The spokesman for the Ministry of Transport, Maitham Al-Safi, told the official agency, “The development road project is not just a transit corridor or a transit station, but rather a comprehensive economic development project, with strategic dimensions that will change the map of the Iraqi economy and make Iraq a pivotal center in global trade between East and West.”

Al-Safi explained that “the project consists of several key pillars, most notably the Grand Faw Port, which will transform into an advanced maritime destination, receiving and handling the largest ships, along with the attached economic city, giving Iraq a truly competitive edge in the field of maritime transport and logistics services.”

He also added that “the railway and road accompanying the project will include more than 12 stations distributed among the governorates, providing local governments and other ministries with unique investment opportunities in the fields of agriculture, industry, and manufacturing, in addition to the possibility of establishing modern residential, industrial, and economic complexes.”

He also pointed out that “among the most prominent elements of the project are the establishment of industrial zones and linking them to the new infrastructure, in addition to the project’s integration with Iraqi airports,” stressing that “the idea of linking airports to the development road project is a pivotal step, as it will benefit from currently operating airports, such as: Baghdad Airport, Najaf Airport, Basra Airport, and Mosul Airport, in addition to airports that will enter service soon, such as: Karbala and Nasiriyah. These airports will not be merely travel gateways, but will constitute transit stations capable of accommodating international air traffic.”

He emphasized that “the Development Road Project will provide job opportunities for more than 100,000 Iraqi workers and will create a series of regional and international economic partnerships, which will lead to a significant increase in the gross domestic product and enhance economic integration not only within Iraq but also with all countries in the region, thus consolidating Iraq’s position as the beating heart of future development projects.”

Burathanews.com