America moves against three Shiite groups in addition to the Rafidain Bank in Iraq.

The US State Department said on Friday that the United States is targeting Kata’ib Hezbollah and Asa’ib Ahl al-Haq for their efforts to “undermine Iraq’s sovereignty.”

US State Department Deputy Spokesperson Tommy Piggott wrote in a post on X (formerly Twitter) that the United States seeks to exert maximum pressure on Iran.

“We are targeting the IRGC-QF, which supports Iran’s regional terrorist partners and proxies, and two groups based in Iraq, Kataib Hezbollah and Asaib Ahl al-Haq,” he added.

“These militias are actively working to undermine Iraq’s sovereignty, weaken its economy, and launch attacks against American personnel and interests throughout the Middle East,” Piggott continued.

Meanwhile, US Republican Congressman Joe Wilson called on the Trump administration to include the Badr Corps, its leader Hadi al-Ameri, and the Iraqi state-owned Rafidain Bank on the list of armed factions targeted by sanctions.

This came in a tweet on the “X” website in response to what was published by the US State Department’s deputy spokesman, with Wilson stressing that “Iraq must be liberated from Iran.”

These statements come after the US Treasury Department imposed a new package of sanctions on Thursday targeting Iraqi banking figures and companies linked to the Iranian Revolutionary Guard Corps and Kata’ib Hezbollah, including the Al-Muhandis Company, the economic arm of the Popular Mobilization Forces. The move, it said, aims to “dismantle the corruption and money laundering networks that enable armed groups to operate inside and outside Iraq.”

The ministry said in a statement, translated by Shafaq News Agency, that the Office of Foreign Assets Control (OFAC) took action against individuals and companies “that help the Iranian regime evade US sanctions, smuggle weapons, and engage in widespread corruption within the Iraqi economy,” noting that the Iranian regime “relies on its Iraqi militia proxies to penetrate Iraqi state institutions and security services.”

According to the statement, these Iran-backed groups are responsible for the deaths of American citizens and attacks on US interests and those of its allies in the region. They also continue to weaken the Iraqi economy and monopolize public resources through illicit gain and corruption.

According to the Treasury Department, the new sanctions include Iraqi bankers, a commercial front company, a large economic entity linked to the Popular Mobilization Forces, and security personnel who operate spy networks for the Iranian Revolutionary Guard Corps inside Iraq.

According to the statement, “Kata’ib Hezbollah, one of the most prominent factions of the Popular Mobilization Forces, established the General Engineer Company for Contracting, Agriculture, and Industry to provide economic cover for its activities.”

According to a statement by the US Treasury, the company, controlled by Kata’ib Hezbollah leader Abdul Aziz al-Muhammadawi (Abu Fadak), exploited government contracts to transfer funds from state institutions to commercial fronts, including Baladna Agricultural Investments Company, to finance the activities of armed factions and arms smuggling operations in coordination with the Iranian Revolutionary Guard.

The ministry confirmed that “General Engineer Company and Baladna Company were designated under Executive Order 13224 for their material and financial support to the IRGC and Kata’ib Hezbollah.”

The US Treasury statement also indicated that the sanctions also included three Iraqi bank executives accused of abusing their positions to benefit the Iranian Revolutionary Guard Corps and Asa’ib Ahl al-Haq. The statement explained that these officials exploited the Iraqi financial system to launder money, smuggle currency, and generate revenue for Iranian-backed terrorist groups.

He explained that among those sanctioned is businessman Ali Muhammad Ghulam Hussein al-Ansari, who used his influence over several Iraqi banks to generate millions of dollars for the Revolutionary Guards and Kata’ib Hezbollah. He added that he “provided financial services to Asa’ib Ahl al-Haq, including purchasing dollars and laundering money using forged documents to evade government oversight.”

The sanctions also included brothers Ali and Aqeel Muftan Khafif al-Bidani, who run a commercial bank linked to the Iranian Revolutionary Guard. They are accused of laundering tens of millions of dollars and smuggling oil and drugs, in addition to exploiting Aqeel Muftan’s position as head of the Iraqi Olympic Committee for illicit financial purposes.

The US Treasury statement warned that “Kata’ib Hezbollah and the Iranian Revolutionary Guard Corps have conducted coordinated operations to gather intelligence on US forces inside Iraq since the beginning of 2025.”

He explained that “Hassan Qahtan al-Saidi, a leader in the Hezbollah Brigades, led a spy network operating out of Baghdad, comprising members of the Popular Mobilization Forces, headed by his son Mohammed and Haitham Subaih Saeed, which was gathering information on US military movements for the Revolutionary Guard.”

Shafaq.com

An economic institution is contingent on the success of the Grand Faw Port project being enabled by the development of Iraqi airports.

The Iraq Future Foundation for Economic Studies and Consultations on Friday linked the success of the Grand Faw Port project to strengthening Iraqi airports and increasing their air cargo capacity. Otherwise, the project will not be a major player in the region.

Commenting on the recent Iraqi Business Summit in Basra, held under the theme “Faw Port: Iraq’s Gateway to Investment,” the corporation’s chairman, Manar Al-Obaidi, published an article titled “Faw Port… and the Missing Opportunity Between the Airport and the Seaport.”

Al-Obaidi, who attended the summit, said, “The extent of the port’s infrastructure achievements, the modern facilities, and the implementation mechanism all reflect serious work that deserves praise.” He added, “However, what caught my attention before arriving at the port was my passage through Baghdad and Basra International Airports. These two airports are among the largest in the region in terms of the area allocated for air cargo, as they were originally designed to be platforms for re-export and transit operations, given their distinguished geographical location linking East and West.”

He added that the paradox becomes apparent when looking at the actual figures: the volume of air cargo at Baghdad Airport in 2023 did not exceed 21,000 tons, while Basra Airport recorded only about 5,000 tons.

Al-Obaidi also pointed out that, “In contrast, we find that the numbers in the Kurdistan Region and the world are completely different. Dubai International Airport recorded more than 2.2 million tons in 2024, Istanbul International Airport about 2 million tons, Abu Dhabi Airport about 700,000 tons, and Amman International Airport about 75,000 tons.” He added, “As for Erbil Airport, the volume of air freight reached 19,000 tons, and Sulaymaniyah Airport 3,000 tons.”

The Foundation’s Chairman stated, “This comparison reveals a significant gap between the ability to build infrastructure and the ability to operate it efficiently within a competitive and flexible system capable of seizing opportunities and understanding the true size of the market.”

He noted that “despite its well-equipped airports and integrated infrastructure, Iraq has been unable to compete with regional airports—and even its own local airports in Erbil and Sulaymaniyah—due to the lack of vision, mechanisms, objectives, and leadership capable of transforming potential into achievement.”

Al-Obaidi warned that “anyone who believes that Iraq will succeed in entering the East-West logistics market through infrastructure alone is delusional. Anyone who believes that the traditional government mentality is capable of competing with the region’s ports and airports is also delusional. Anyone who believes that the current bureaucracy can build real competitiveness is even more delusional.”

The head of the Iraq Future Foundation concluded, “If we want the port of Faw to become a major player in the region, we must first empower Iraq’s major airports to assume their natural role in the air transport and cargo system, rather than leaving the stage to small, limited-capacity airports to dominate this vital sector.”

Al-Abidi concluded his remarks by saying, “Big goals may look beautiful on the surface, but if they are not formulated with a comprehensive vision and an effective operational system, they will remain mere deferred dreams that will quickly fade with the first crisis we face.”

The Grand Faw Port is a strategic project in the far south of Iraq, located on the Faw Peninsula in Basra Governorate. It aims to transform the country into a regional trade hub by connecting it to global transportation networks.

The project costs approximately $4.6 billion and covers an area of ​​54 square kilometers.

Its annual capacity is expected to reach 99 million tons, making it one of the largest ports in the Arabian Gulf and the tenth largest in the world.

The port’s depth is expected to be 19 metres, to accommodate the largest commercial vessels.

In 2024, the concrete wall for the quays was completed, the piers were prepared, and work began on the container yard. Work is proceeding in parallel, with a focus on completing the last five projects simultaneously.

Shafaq.com

An economic catastrophe. “Shocking” figures reveal the extent of Iraq’s internal debt. Where is the economy headed?

Iraq is witnessing a sharp increase in domestic public debt levels through 2025, sparking serious debate about the sustainability of the country’s financial situation.

The government downplays the seriousness of the situation, asserting its ability to manage this debt internally, while experts are increasingly calling for budget reform and spending cuts as a radical solution.

Data released by the Central Bank of Iraq reveals a clear jump, with domestic debt recording a new increase, reaching approximately 87.7 trillion dinars (about $66.4 billion) at the end of last June.

According to official statistics, this figure represents an increase of approximately 5.4% compared to 2024, when the domestic debt reached $62.9 billion.

This debt inflation comes amid a near-total reliance on fluctuating oil revenues, which is pushing the government toward domestic borrowing to finance the budget deficit.

Reducing the price of the dinar

Economic expert Ammar Ghassan confirmed that the decision to devalue the Iraqi dinar from 1,450 to 1,310 per US dollar has brought about structural changes in the country’s public finances, most notably an increase in government expenditures and a worsening fiscal deficit.

Ghassan said that this decision increased government spending by about $25 billion annually, leading to a jump in current expenditures from 104 trillion dinars ($78.8 billion) to 125 trillion dinars ($94.7 billion).

He also pointed out that the wage bill alone has increased from 43 trillion dinars ($32.6 billion) to 60 trillion dinars over the past two years.

According to Ghassan’s vision, the country’s rising domestic debt is due to the government’s reliance primarily on the liquidity of public and private banks to finance its domestic and external obligations. This has depleted these banks’ resources and negatively impacted overall economic activity.

Multiple negative repercussions on economic performance

Ghassan warned of the negative repercussions of this situation, which he summarized in the following points:

*Weak monetary policy instruments and their impact on prices: A change in fiscal policy may limit the effectiveness of the central bank’s instruments, raising inflation if there is no coordination between monetary and fiscal policies.

*Worsening budget deficit: Increased government spending increases the burden on the budget and deepens the actual deficit.

*Negative impact on economic growth: Investment in government debt instruments becomes more attractive to the banking sector than lending to the private sector, which hinders credit expansion and impacts growth.

*Erosion of the real value of government financial assets, which reduces the government’s ability to meet its future obligations.

*Increasing domestic debt service burdens could negatively impact citizens’ standard of living, especially if the government is forced to cut social spending necessary to combat poverty and unemployment.

*Deepening economic rentierism through excessive operational spending and neglecting investment in strategic economic activities.

Government assurances

For his part, the Iraqi Prime Minister’s financial advisor, Mazhar Mohammed Salih, affirmed Iraq’s strong financial position and its high capacity to manage its external and internal debts.

Saleh said that the total outstanding external debt is less than $20 billion, half of which is due by 2028. He emphasized that the government allocates specific annual spending lines to service it.

He added, “Iraq has never defaulted on its debt payments,” stressing that “our country’s standing with external creditors enjoys a positive and positive reputation.”

Regarding domestic public debt, Saleh indicated that it is held exclusively by the government banking system, explaining that less than half of it is currently managed by the Central Bank’s investment portfolio with high technical and financial capacity.

“There’s no need to worry,” he said, as monetary and fiscal policies are working to develop innovative repayment mechanisms, including converting debt into investment rights in productive projects within an integrated national fund. He added, “Our country enjoys enormous economic wealth that undoubtedly exceeds these debts.”

New structure to diversify revenues

For his part, economic advisor Alaa Al-Fahd affirmed that there is a fundamental shift in the financial management structure of the Iraqi economy, focused on attracting investment and creating a suitable investment environment.

Al-Fahd explained that the government, as part of its reform program, seeks to diversify sources of income and reduce reliance on foreign loans, while also bridging the financial deficit through domestic borrowing and the issuance of government bonds.

Al-Fahd stressed that investment is the primary driver of reducing dependence on oil, emphasizing the importance of revitalizing the investment sector by attracting foreign investment and implementing banking reforms to create credit strength.

For his part, economic expert Hassan Sheikh Zeini emphasized that domestic debt poses less of a risk than external debt, noting that its increase was a direct result of the decline in oil prices.

He said that the state’s resort to public debt to cover the deficit was a response to insufficient oil revenues, stressing that reducing external debt is an inevitable step to maintain high creditor confidence and avoid international court proceedings.

The economic expert proposed solutions to address the country’s ballooning domestic debt and reliance on oil (oil constitutes 95% of revenues), describing it as a “strategic mistake,” the most important of which are:

*Reducing operating expenses and implementing a fair salary scale.

*Diversifying liquidity sources through productive investment projects instead of over-reliance on taxes and fees.

*Combating corruption in revenues and imposing e-governance on taxes and services to ensure that funds go to the state treasury.

Sheikh Zini emphasized that Iraq’s external debt poses the greatest threat to its reputation and the confidence of international countries and banks in it. Therefore, the speaker added, increasing the internal debt while reducing the external debt places Iraq in a position of trust with international creditors.

Burathanews.com

US poll: Support for troop withdrawal from Iraq

A poll published by The Hill newspaper revealed that most Americans support the withdrawal of their troops from Iraq and Syria and the reduction of the US military presence in the Middle East.

The results of the poll, conducted by Concerned Veterans for America and YouGov, showed that 62% of respondents “somewhat” support withdrawing troops from Iraq, while 27% took a neutral position, and 11% opposed it.

Similar results were recorded regarding Syria, where 61% of survey participants supported the return of soldiers to their homes, while 27% had no clear opinion, and 12% opposed the withdrawal of troops.

The withdrawal of troops from Iraq and Syria was supported by majorities of both Republicans and Democrats, as well as independent voters. Nearly six in ten respondents (58%) believe that the United States should generally “reduce its level of engagement” in the Middle East.

“These data confirm what we have observed for years: veterans and the general public want a foreign policy based on moderation, responsibility, and national interest,” said John Wick, executive director of the Veterans Affairs Organization, commenting on the findings.

He added, “After decades of military campaigns in the Middle East, the US military presence in countries like Iraq and Syria no longer has a clear strategic objective.”

Wick also noted that “most survey respondents, including both Democrats and Republicans, agree with US President Donald Trump that the war in Iraq was a grave mistake.”

The survey was conducted from September 19 to 23 and included 1,000 participants, including veterans, military family members, and members of the general public.

The margin of error for the poll results is 3.7 percentage points.

Burathanews.com

ExxonMobil: We are pleased to sign the century-old agreement to develop and market Iraqi oil.

ExxonMobil, the US-based oil company, expressed its happiness at its return to Iraq, calling it the “deal of the century.”

“We are pleased to sign the Horn of Africa agreement with the Iraqi Ministry of Oil to evaluate exploration, development, and marketing opportunities for oil in Iraq,” the company said in a statement translated by Mail.

ExxonMobil and the Iraqi Ministry of Oil signed a new agreement to return to Iraq. The Iraqi government praised this development and affirmed its “strong interest” in working with major oil companies, particularly American ones, to operate oil fields such as the Majnoon field in Basra .

Miliq.news

Exclusive: The Trump administration sends a “war message” to Iraq: hints at decisive action.

The US State Department issued a stern warning to Iranian-backed armed factions in Iraq on Thursday, vowing to act “decisively” to protect US interests.

A State Department spokesperson told Shafaq News Agency, “The designations of Iran-backed terrorist organizations simply make one thing clear: these groups use terrorism to attack Americans in Iraq in service of Iran’s interests, and have done so for decades. They also exploit Iraq’s economy to fund Iran’s terrorist activities around the world.”

The US spokesman indicated that “under President Trump’s bold leadership, the United States will act decisively to ensure the protection of American interests in Iraq and the region.”

However, the spokesman cautioned that “the United States is committed to its partners throughout Iraq who are working to build a truly sovereign, stable, and prosperous country.”

He added, “The current administration is in constant communication with partners throughout Iraq and supports Iraqi actors who share the United States’ priorities and concerns.”

According to him, there are tangible economic achievements, saying, “Just today, a deal was signed between the Iraqi government and ExxonMobil to develop the Majnoon oil field, and recent US diplomatic efforts have led to the reopening of the pipeline between Iraq and Turkey.”

The US State Department spokesperson stated that “deals like these will deliver real and tangible benefits to both Americans and Iraqis, and are a testament to the partnership between the United States and Iraq.”

Shafaq.com

Iraq wins 32 international lawsuits, saving it from losses estimated at more than $2 billion.

The Ministry of Justice announced on Thursday that it had won 32 lawsuits, arbitrations, and recovery claims over the past three years, from 2023 to 2025, sparing Iraq more than $2 billion in damages.

The ministry explained in a statement today that the total sums recovered amounted to two billion, five hundred and ninety-nine million, eight hundred and eighty-five thousand, three hundred and forty-five US dollars, in addition to forty million euros.

The statement added that these sums were being claimed by foreign entities and international companies in lawsuits filed against the Iraqi state before international courts and arbitration bodies.

Shafaq.com

Prime Minister’s Advisor: The Securities and Commodities Authority ended market chaos and contributed to regulating national investment.

The Prime Minister’s advisor for financial affairs, Mazhar Mohammed Saleh, confirmed on Thursday that the Securities Commission has ended market chaos and contributed to regulating national investment in the country. Saleh told the official news agency that “the Securities Commission has achieved significant results during its journey, most notably the establishment of an institutional market system, a necessary step towards building a sound financial market.”

He added, “The Securities Commission market was properly established through a partnership between the state and the private sector, relying on strong tools, most notably the Iraq Stock Exchange and a financial oversight body that formed a fundamental foundation for embodying the state’s philosophy in this partnership.”

He also explained that “these important results have helped fill the void and established foundations upon which we can quickly build. They have also ended the role of unregulated markets through which domestic capital was channeled abroad, weakening our ability to attract financial capital.”

He continued, “The Securities Commission is the regulatory body for the markets, and its oversight function is to ensure competition and prevent monopolies.” He noted that “the Commission has future responsibilities that align with the Iraqi economic philosophy based on partnership between the state and the private sector, enabling the government to regulate the market and maintain its competitiveness.”

Burathanews.com

Central Bank Governor: We have received 80 applications to establish digital banks.

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced on Thursday that the bank has received approximately 80 applications to establish digital banks, stressing that the names of licensed digital banks will be announced soon. Al-Alaq told the official agency, “The Central Bank has received between 70 and 80 applications to establish a digital bank. This number can only be licensed according to a set of criteria based on market studies, the nature of the work, and the experiences of other countries, where the number of digital banks usually does not exceed two, three, or four.”

He continued, “Therefore, we have begun vetting processes to determine requirements in a way that ensures that licenses are granted to entities with the best qualifications.” He emphasized, “We are now in the final stages of announcing the banks that will be licensed.”

He added, “Before making the final decision, we engaged Oliver Wyman to review the criteria set by the Central Bank, based on which licenses will be granted.”

Al-Alaq also explained that “the aforementioned company has been studying these criteria over the past few days, having been preoccupied with the banking reform file and the comprehensive plan, and we believe we will receive a final answer within the next few days.”

Burathanews.com

Nechirvan Barzani: The Trump administration represents an opportunity for us.

Kurdistan Region President Nechirvan Barzani said on Wednesday that the administration of US President Donald Trump represents “an opportunity for us.”

“We believe we have good relations with the United States, and we support US President Donald Trump’s policies toward opportunities and stability in the region and in Gaza,” Barzani said in a dialogue session during the Middle East Reform Forum (MERI) held in Erbil, attended by Shafaq News Agency.

He added, “The United States has helped us through many difficult times. We confronted ISIS with US assistance, and their role was supportive of the Peshmerga forces.” He explained, “We see the Trump administration as an opportunity for us.”

Shafaq.com