Alaa Al-Fahd: Iraq is entering a new phase, and electronic payments will strengthen the dinar.
Economic expert Alaa Al-Fahd affirmed on Saturday that the Central Bank's move to establish a national electronic payment company represents a fundamental pillar in promoting financial inclusion and sovereignty over financial transactions within Iraq. He noted that it is part of an integrated strategy to reform the banking system.
The video for this My FX Buddies Blog is below here:
Al-Fahd told, "This step aims to expand the electronic payment base, enhance public confidence, and reduce reliance on cash through local systems that contribute to strengthening the Iraqi dinar."
He added, "The project is part of a package of reforms being implemented by Iraq in cooperation with international audit firms, enabling greater flexibility in banking transactions and increasing the volume of electronic trading." He noted that "the Central Bank's current approach reflects an accelerated vision to reduce implementation time and achieve real reforms in the banking structure."
Washington is "luring" Baghdad into sanctions. Why is there this silence on the Central Bank cards?
Ziad Al-Hashemi warns of a "trap"
Economic expert, Ziad Al-Hashemi, warned the Central Bank of Iraq against falling into the trap of US Treasury sanctions. He expressed his belief that Washington’s silence and failure to express any position on the recently announced “National Card Scheme” project may be part of the “monitor and punish” policy that Washington has followed for years in dealing with the Iraqi financial system, which has led to the issuance of sanctions against many Iraqi entities and individuals. Al-Hashemi reviewed this in detail, while calling for “learning the lesson” and exercising caution, while raising the levels of compliance and internal control to the highest levels to fortify the new financial system, so that the Central Bank itself does not fall into trouble!
(Monitor and then punish) This is the tactic followed by the US Treasury when dealing with official and unofficial Iraqi parties involved in fraudulent and illegal operations taking place inside and outside Iraq, which tarnish the name of Iraq!
After what appears to have been years of monitoring, the US Treasury has sanctioned, through three executive orders, Iraqi and other shadow businessmen active in the black economy and in the smuggling of Iranian oil and petrochemical products, which are under US sanctions, using official Iraqi documents and in collaboration with parties in Iran, Malaysia, Syria, and Yemen.
This measure is not the first of its kind, and it will not be the last. Previously, Iraqi banks, companies, and individuals have been sanctioned for operating within vast and complex networks of fraudulent black market operations that generate billions for their owners and damage the reputation of Iraq and its economy.
Despite all the manipulation, camouflage, fraud, and concealment methods employed by fraudulent, smuggling, and money laundering networks inside Iraq, and despite all the quasi-political support provided behind the scenes and in complete secrecy, it becomes clearer day after day that most or all of these fraudulent activities are being monitored, tracked, and monitored by the Treasury through sensors that appear to be deeply embedded within these fraudulent systems!
The delay in the US Treasury's sanctions on these businesses is clearly to allow sufficient time and opportunity to uncover the entire network, its full activities, the extent of its involvement, those dealing with it, the amount of its funds, and other details that would make the case complete and ready for the implementation of sanctions!
The problem with Iraqi fraud, smuggling, and money laundering networks is that they fail to learn lessons or take heed from the experiences of those who came before them and were subject to sanctions. This allows them to continue to become more involved, expand their operations, and inflate their wealth, without caring that everything is being monitored and hacked, and that sanctions are coming at any moment!
Iraq, as a country, has been suffering from numerous sanctions imposed on parties and funds affiliated with the country. These sanctions have increased in a scandalous manner, to the point that there is no Iraqi economic component that has not been subjected to direct or indirect American sanctions, placing Iraq on the list of countries with a bad reputation and lacking legal, financial, and economic discipline.
The National Electronic Payment Card System announced by the Central Bank of Iraq has not been rejected or opposed by the Treasury, as if the Treasury wants to open the door to monitoring how the new system will be used and who will attempt to exploit it to circumvent controls and subsequently fall into the trap of US sanctions.
Therefore, the Central Bank of Iraq must be more cautious this time, learn from what happened previously, fully fortify the new system, and raise the level of compliance and internal oversight to the highest levels, so that it does not fall into the trap of American (monitoring and punishment) as a result of the incorrect implementation or fraudulent exploitation of its new system!
Here's what's happening on Tuesday... The Baghdad-Erbil dialogue is reaching its final stages.
An informed source reported on Saturday that the talks between the central and regional governments have reached their final stages, while indicating that the two sides are close to drafting the final agreement.
The source said in a statement monitored by Al-Masry that "the supposed agreement stipulates the re-exportation of the region's oil, the latter's handing over its revenues to the federal government, and the commencement of the settlement of salaries."
He added, "If a final agreement is reached on the draft agreement, it will be ratified by the Council of Ministers in its session next Tuesday, after which salaries for Kurdistan Region employees will be disbursed."
Starting in August, Iraq's share will rise to 4.17 million barrels per day following the OPEC+ decision.
Economic expert Nabil Al-Marsoumi confirmed on Saturday that Iraq's share of oil production will rise to 4.170 million barrels per day starting next August, following the decision of the OPEC+ alliance to increase its production by 548,000 barrels per day.
Al-Marsoumi said in a Facebook post, followed by (IQ), that "Iraq's share will rise to 4.170 million barrels per day after the OPEC+ decision," noting that "the OPEC+ alliance decided to raise its oil production by 548,000 barrels per day in August, an increase exceeding the approved 411,000 barrels per month in the previous three months, as part of its efforts to regain market share lost to competitors during the supply cut period."
He pointed out that "this step comes at a critical moment that could push oil prices towards a significant decline, as global demand growth remains unstable, affected by weak industrial activity in China and continued trade uncertainty."
He added, "At the same time, production outside OPEC+ is steadily increasing, led by the United States, Brazil, and Guyana, making it difficult for the market to absorb additional supplies from the alliance without creating a surplus." He continued, "Based on this decision, 48,000 barrels per day will be added to Iraq's production quota, increasing it from 4.122 million barrels per day in July to 4.170 million barrels per day in August."
US Sanctions Iraqi-British National for Smuggling Iranian Oil
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions targeting networks involved in transporting and purchasing Iranian oil, including a group of companies led by Iraqi businessman Salim Ahmed Said.
The U.S. alleges that Said's network smuggled Iranian oil disguised as, or blended with, Iraqi oil, generating substantial profits while benefiting Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), which is designated as a Foreign Terrorist Organization.
Several vessels engaged in the covert delivery of Iranian oil were also sanctioned, as the U.S. continues to crack down on Iran's so-called "shadow fleet" of tankers. The actions aim to increase economic pressure on Tehran and disrupt its access to revenue that could fuel destabilising activities.
Treasury Secretary Scott Bessent stated, "While Iran has had every opportunity to choose peace, its leaders have chosen extremism. Treasury will continue to target Tehran's revenue sources and intensify economic pressure."
The latest designations were made under Executive Orders 13902 and 13224, which target key sectors of the Iranian economy and entities supporting terrorism. The U.S. Department of State also announced sanctions on six entities and four vessels for significant transactions involving Iranian petroleum products, under Executive Order 13846.
More background on this story can be found here.
very long article you can click the link above if you want to see it
The specter of sanctions haunts the "Ki Card." Will Iraqis face "salary cuts?"
Fears are growing in Iraq over a looming financial crisis, following reports that Qi Card could be included on the US sanctions list due to ongoing investigations into financial files involving several banks and companies. With a large segment of Iraqis relying on the company for their salaries, attention is turning to the ability of the government and the Central Bank to avoid what could become a paralysis in the routine financial system associated with employees and retirees.
Salaries are a concern.
Nasser Al-Tamimi, an economic and financial expert, told Baghdad Today that "concerns over the salaries of employees and retirees due to the potential imposition of sanctions on the K-Card company are natural and justified." He explained that "the Central Bank of Iraq has actually begun working to establish a national payments system to counter such threats."
Al-Tamimi added that "the sanctions, if imposed, will restrict the company's transactions to Iraq alone, meaning it will be barred from any external activity or transfers." He emphasized that "Iraq's delay in establishing an independent payments system has made it directly vulnerable to any pressure or sanctions affecting the financial sector."
The context of sanctions and banking tensions:
These warnings come at a time when the Iraqi banking sector is witnessing successive turmoil, especially after the US Treasury Department imposed sanctions on several Iraqi banks on charges of money laundering and dollar smuggling violations. Global money transfer companies such as Western Union also announced they would suspend their dealings with some of these banks, sparking market chaos and disrupting the flow of salaries and remittances.
Observers warn that any expansion of sanctions could include intermediary companies such as Qi Card, potentially disrupting the payments infrastructure in the absence of effective alternatives in the short term.
Popular Mobilization Forces without salaries
In one of the most striking manifestations of the current financial chaos, thousands of members of the Popular Mobilization Forces (PMF) have not received their monthly salaries for more than forty days, amid official silence from relevant authorities and a lack of clarification regarding the reasons for the delay.
Observers believe this delay may be indirectly related to sanctions imposed on a number of local banks, or the result of increasing restrictions on exchange and remittance channels, particularly in light of reports of tight US oversight of financing mechanisms, some of which are believed to be used outside official frameworks.
What's next?
The Iraqi financial landscape is in a state of suspense amid delayed moves to establish national alternatives. While the Central Bank confirms it is working to establish a new payments system capable of bypassing traditional intermediaries, actual implementation requires time, at a time when citizens cannot tolerate another delay in their salaries.
Experts believe this crisis could be a wake-up call for the state to reevaluate its financial and regulatory structure and provide sovereign tools to ensure financial stability, free from the dominance of companies that may be vulnerable to external targeting.
7/6
Al-Sudani's advisor: The value of the region's oil contracts and transportation costs delayed amending the three-year budget law.
The Prime Minister's Financial Advisor, Mazhar Mohammed Saleh, affirmed that "there is significant and ongoing cooperation between the legislative and executive authorities in monitoring and managing the country's financial affairs, with understanding, interaction, and optimization of great importance to ensuring the economic stability the country is experiencing."
Saleh said in a press statement, “Based on the Federal General Budget Law No. 13 of 2023, the three-year budget, the federal financial policy was formed on an approach called (fiscal space), which gave it the high ability to move dozens of approved and previously suspended strategic government projects to implementation. This is what distinguished it with the high activity of the development wheel in implementing the service projects that the country is witnessing without stopping, and its results became tangible thanks to the success of the three-year budget, in addition to what was approved of major projects that were approved in the 2023 and 2024 budget schedules, which are among the projects that are currently continuing without stopping.”
He pointed out that “the financial compass reading, which required the submission of the 2025 budget tables for legal approval in accordance with Article 77/Second of the Budget Law, was truly delayed for two fundamental reasons. The first is the awaiting of the amendment to the Triennial General Budget Law, which concerns the values of the region’s oil contracts and the costs of transporting its oil, which were not approved until last February. The other reason relates to the fluctuations that global energy markets were exposed to and the effects of global oil prices on the general budget, which also required a re-reading of some financial constants and variables, whether revenues, expenditures, financing the deficit and its sources, more than once due to international geopolitical and economic problems and the major issues that occurred in the global economy at an accelerating pace, which led to the generation of volatile shocks in close periods of the current fiscal year, which necessitated hedging against external shocks.”
He continued, "As far as the rights and entitlements acquired in the operational aspect of the general budget are concerned, which have not been disbursed and are contingent upon the submission of the financial schedules for the year 2025, these are rights protected by law and reserved for those entitled to them, and they are not cancelled by the statute of limitations. It is only a matter of time and will be disbursed once those schedules are approved or any adjustment that does not conflict with the law."
Al-Mashhadani and Al-Janabi arrive in Erbil
Iraqi Parliament Speaker Mahmoud al-Mashhadani arrived in Erbil on Sunday on an official visit as part of efforts to enhance coordination between the federal government and the Kurdistan Region and discuss key political and administrative issues of mutual interest.
Al-Mashhadani was accompanied on his visit by the head of the parliamentary Integrity Committee, Ziyad al-Janabi, and was received by the Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, and the Kurdistan Regional Government's Minister of Interior, Rebar Ahmed Khalid, according to parliamentary sources.
This visit is part of a series of meetings held by officials in Baghdad and Erbil aimed at converging views and strengthening cooperation on several issues, most notably the upcoming parliamentary elections. These elections represent a pivotal moment in the Iraqi political landscape, amid aspirations to ensure broader participation and political understandings that guarantee the integrity and stability of the electoral process.
The visit's agenda also includes discussing ways to enhance security and administrative coordination between the central government and the region, particularly in light of the common challenges facing the country, most notably combating corruption and strengthening the rule of law across all governorates.
Observers believe that Al-Mashhadani's visit to Erbil may pave the way for a restructuring of relations between Iraqi political forces and the opening of more effective channels of dialogue between Baghdad and Erbil, especially in light of the tense political climate as the election date approaches.
budget
Economic paralysis and missed entitlements... Delaying the 2025 budget opens the door to a comprehensive crisis.
At a time when the country is suffering from mounting economic challenges and stifling service crises, fears are growing that Iraq is entering a phase of financial and development paralysis due to the delay in submitting the 2025 budget schedules. Members of the Finance Committee described this delay as a "clear legal violation" and a "blatant encroachment on the people's rights." While governorates await the necessary funding to carry out their stalled projects, government institutions are trading blame for this delay, amid direct accusations that the Council of Ministers is failing to fulfill its role in a timely manner.
According to the Finance Committee, this delay reveals the depth of the political dysfunction in managing the economic situation, particularly in light of the complexity of the financial landscape due to several factors, most notably the chronic deficit, the Kurdistan Region's failure to fulfill its financial commitments, and fluctuating oil prices.
While this confusion threatens to undermine development plans and delay vital projects across the country, parliamentary voices are rising, demanding decisive intervention to ensure the remainder of the fiscal year is salvaged and development funds activated before it's too late.
Parliamentary Finance Committee member Hussein Mounes stated that the delay in submitting the 2025 budget schedules constitutes a clear legal violation and an infringement on the rights of the Iraqi people, given the difficult economic conditions the country is experiencing.
"The delay in sending the schedules is a legal violation and an infringement on the rights of the Iraqi people, who need a clear economic plan, especially in light of the economic challenges we are facing at this stage," Mounes told Al-Mada.
He stressed that "the primary responsibility for this delay lies with the Council of Ministers, which has not yet sent the budget to the House of Representatives or the Finance Committee," noting that "the large budget deficit, the Kurdistan Region's failure to honor its commitments, and fluctuating oil prices are factors that have directly contributed to the confusion in the financial accounts and the delay in sending the budgets."
Mounes pointed out that "vital projects are completely stalled due to the budget delay, which negatively impacts services and development," warning that "the continued delay reveals a clear political failure in managing the country's economic situation."
He added, "The governorates are currently suffering from financial allocations without actual funding, which hinders project implementation and threatens local financial stability, despite some provisions that seek to activate development funds and transfer project entitlements to the governorates."
Mounes concluded by emphasizing "the need for close parliamentary oversight to ensure that priorities are set for project implementation," stressing that "continuing this confusion will lead to development paralysis and delays in government programs across all sectors."
On Thursday, the Finance Committee of the Iraqi Parliament said it did not know what lay behind the "ambiguity" of the government of Mohammed Shia al-Sudani regarding the 2025 budget schedules. This came days after its head addressed the government and urged it to expedite the submission of the budget.
Committee member Mustafa Al-Karawi said, "The parliamentary finance committee still doesn't know anything about the 2025 budget schedules."
He added, "A few days ago, the committee chairman officially contacted the government to ask for details of the schedules and when they would be sent to us. However, to date, there has been no government response and there is still ambiguity regarding this matter."
Last Sunday, June 29, 2025, Parliamentary Finance Committee Chairman Atwan al-Atwani called on Prime Minister Mohammed Shia al-Sudani to "expedite" the submission of the 2025 budget schedules.
A document issued by Al-Atwani to the Prime Minister stated: "We reiterate our commitment to expediting the submission of the 2025 budget tables to the Iraqi Parliament for approval, signaling the start of legal government spending and disbursements, and enabling state institutions to fulfill their obligations, particularly with regard to releasing employee entitlements (bonuses, promotions, and transfers), and addressing the demands of segments awaiting inclusion of their rights in this budget."
Al-Karawi explained that "the government is urgently required to send the schedules at the start of the legislative session at the end of next week for review and approval, as this requires time. We do not know the reasons for all this governmental ambiguity regarding these schedules."
MP warns of postponing more than 20 draft laws to the next session
Member of Parliament Mukhtar al-Moussawi warned on Sunday that the current parliamentary session may end without the majority of pending bills being passed, noting that more than 20 bills remain at risk of being postponed to the next session due to ongoing political divisions and the lack of consensus among parliamentary blocs.
Al-Moussawi said in a statement monitored by Al-Mada that “the process of voting on laws has become dependent on political consensus, and in the absence of this consensus, legislation faces stagnation and waiting from one session to the next.” He added that “a number of laws only require a vote, but sharp disagreements between parliamentary blocs prevent their progress,” stressing that “legislative work suffers from clear paralysis due to the persistence of divisions and the postponement of sessions.”
The MP explained that "the remaining period of the current session may not allow for the passage of more than one, two, or three laws at most," warning that "the vast majority of legislation will be postponed to the next session if the current political deadlock continues."
Since its inception in 2022, the current parliamentary session has witnessed a clear failure to pass several important laws, most notably the Oil and Gas Law and the Federal Court Bill, as well as other economic and social laws such as the Civil Service Law and the Social Security Law.
The Parliamentary Law Committee had previously announced that more than 150 draft laws were still awaiting review or voting, some of which had been pending since two previous parliamentary sessions.
Legal experts believe that "the Iraqi state's legislative structure suffers from weakness due to the lack of political will to enact essential laws," noting that "delaying legislation deprives the legislative authority of its essential role and negatively impacts other branches of government."
Observers believe that continued divisions within Parliament could negatively impact vital issues that directly impact citizens' lives, especially in light of the economic crises and challenges posed by security and services.
Al-Bujari: The new legislative session will witness the approval of important laws.
Representative Zahra Al-Bajari called on the Parliament Speaker and political forces on Sunday to move forward in activating the file of interrogating officials, especially interrogations that have met their constitutional requirements.
Al-Bajari confirmed in a statement to the Al-Maalouma Agency that “the Parliament will resume its sessions in the coming few days with the start of the new legislative term,” noting that “most political forces are keen to make this legislative term effective by approving important laws that directly affect the lives of citizens.”
She stressed "the necessity of activating the file of interrogations that meet the constitutional requirements, with the aim of strengthening the Parliament's oversight role and holding negligent parties accountable."
It is noteworthy that the Parliament will resume its regular sessions in the coming days after the end of its legislative term, amid calls to intensify the holding of sessions and work to approve important laws. End
payment system
The specter of sanctions haunts the "Ki Card." Will Iraqis face "salary cuts?"
Fears are growing in Iraq over a looming financial crisis, following reports that Qi Card could be included on the US sanctions list due to ongoing investigations into financial files involving several banks and companies. With a large segment of Iraqis relying on the company for their salaries, attention is turning to the ability of the government and the Central Bank to avoid what could become a paralysis in the routine financial system associated with employees and retirees.
Salaries are a concern.
Nasser Al-Tamimi, an economic and financial expert, told Baghdad Today that "concerns over the salaries of employees and retirees due to the potential imposition of sanctions on the K-Card company are natural and justified." He explained that "the Central Bank of Iraq has actually begun working to establish a national payments system to counter such threats."
Al-Tamimi added that "the sanctions, if imposed, will restrict the company's transactions to Iraq alone, meaning it will be barred from any external activity or transfers." He emphasized that "Iraq's delay in establishing an independent payments system has made it directly vulnerable to any pressure or sanctions affecting the financial sector."
The context of sanctions and banking tensions:
These warnings come at a time when the Iraqi banking sector is witnessing successive turmoil, especially after the US Treasury Department imposed sanctions on several Iraqi banks on charges of money laundering and dollar smuggling violations. Global money transfer companies such as Western Union also announced they would suspend their dealings with some of these banks, sparking market chaos and disrupting the flow of salaries and remittances.
Observers warn that any expansion of sanctions could include intermediary companies such as Qi Card, potentially disrupting the payments infrastructure in the absence of effective alternatives in the short term.
Popular Mobilization Forces without salaries
In one of the most striking manifestations of the current financial chaos, thousands of members of the Popular Mobilization Forces (PMF) have not received their monthly salaries for more than forty days, amid official silence from relevant authorities and a lack of clarification regarding the reasons for the delay.
Observers believe this delay may be indirectly related to sanctions imposed on a number of local banks, or the result of increasing restrictions on exchange and remittance channels, particularly in light of reports of tight US oversight of financing mechanisms, some of which are believed to be used outside official frameworks.
What's next?
The Iraqi financial landscape is in a state of suspense amid delayed moves to establish national alternatives. While the Central Bank confirms it is working to establish a new payments system capable of bypassing traditional intermediaries, actual implementation requires time, at a time when citizens cannot tolerate another delay in their salaries.
Experts believe this crisis could be a wake-up call for the state to reevaluate its financial and regulatory structure and provide sovereign tools to ensure financial stability, free from the dominance of companies that may be vulnerable to external targeting.
kurdistan
Barzani stresses the importance of addressing problems and correcting mistakes in the political process.
Kurdish leader Masoud Barzani stressed on Sunday the need to address the problems and correct the mistakes and shortcomings that plague the political process in Iraq, emphasizing that the salaries of Kurdistan Region employees should not be linked to political disputes.
A statement from Barzani's residence in the Salah al-Din resort in Erbil stated that he received the Speaker of the Iraqi Parliament, Mahmoud al-Mashhadani, and his accompanying delegation. During the meeting, they exchanged views and discussed the political situation in Iraq, the contentious issues between the Iraqi federal government and the Kurdistan Regional Government, and the decision to cut salaries for Kurdistan Regional Government employees.
The statement added that the need to resolve these issues within the framework of the constitution, taking into account the principles of partnership, balance, and consensus, and not to mix the livelihood of the region's citizens with conflicts between political parties or disputes between the federal government and the regional government, was emphasized, while expediting the disbursement of salaries and financial dues to the region as soon as possible, he said.
The upcoming elections for the Iraqi parliament and coordination between political parties to address problems and correct errors and shortcomings in the political process in Iraq were other topics of discussion.
Al-Mashhadani's media office said in a statement received by Shafaq News Agency, "The Speaker of Parliament met with the head of the Kurdistan Democratic Party, Masoud Barzani, at the Salah al-Din resort in Erbil. The meeting witnessed in-depth discussion of a number of contentious issues, most notably the issue of salaries and financial dues for the region's employees."
The two sides agreed on the importance of the federal government and the Kurdistan Regional Government submitting serious proposals and working together to study and implement them, thus contributing to a radical and permanent end to the crisis.
The Kurdistan Region's employee salary crisis is one of the most contentious issues between Baghdad and Erbil, amid ongoing debate over oil exports, constitutional obligations, and fiscal policies. This makes the upcoming meetings between the two sides pivotal in breaking the current political and financial deadlock.
Al-Mashhadani: We reached solutions with Nechirvan Barzani to the region's salary crisis.
Iraqi Parliament Speaker Mahmoud al-Mashhadani announced on Sunday that he and Kurdistan Region President Nechirvan Barzani had reached solutions to the Kurdistan Region's employee salary crisis, which will be discussed in the coming days.
This came during Mahmoud Mashhadani's visit to Erbil, the capital of the Kurdistan Region, and his meeting with Nechirvan Barzani, in the presence of Deputy Speaker of Parliament Shakhwan Abdullah and Chairman of the Parliamentary Integrity Committee Ziyad al-Janabi. The meeting focused on mediation efforts to resolve the crisis of the region's employees' salaries, in accordance with constitutional legal procedures.
According to a statement from the Iraqi Parliament received by Shafaq News Agency, the meeting discussed the relationship between the central government and the region within constitutional and legal frameworks, the need to neutralize the issue of employee salaries, and the need to resolve it without political disputes. Solutions should be discussed in a friendly atmosphere, away from political escalation.
According to the statement, both sides expressed full readiness to initiate a serious dialogue on this crisis, and for the House of Representatives to play a key role in bringing the parties together on solutions proposed by the Erbil and central governments to achieve a harmonious administrative relationship free from political repercussions. Solutions have been reached and will be discussed in the coming days.
Al-Mashhadani stressed, "In these sensitive circumstances, we need unity to resolve outstanding issues, and the central government will seriously address any practical proposals to resolve the crisis. He explained that we stand with the Kurdish citizen because he is part of the Iraqi people, just as is the case with the citizens of all Iraqi provinces."
Earlier today, Mahmoud al-Mashhadani and Kurdish leader Masoud Barzani discussed the Kurdistan Region's employee pay crisis and the search for a final solution. They agreed to submit serious proposals to the federal government.
In another meeting today, Kurdistan Regional Government Prime Minister Masrour Barzani and Parliament Speaker Mahmoud al-Mashhadani agreed not to involve the issue of salaries for public sector employees and workers in the region in any political disputes between Erbil and Baghdad.
The Kurdistan Regional Government's Council of Ministers confirmed last Wednesday the implementation of all federal government obligations regarding the region's oil exports through SOMO, and the transfer of sales proceeds to the federal Ministry of Finance. The Council called on Baghdad to end the "policy of depriving" Kurdistan citizens of their salaries.
The Kurdistan Region's employee salary crisis is one of the most contentious issues between Baghdad and Erbil, amid ongoing debate over oil exports, constitutional obligations, and fiscal policies. This makes the upcoming meetings between the two sides pivotal in breaking the current political and financial deadlock.
Masrour Barzani: I agreed with Al-Mashhadani to keep Kurdistan employees' salaries separate from disputes.
Kurdistan Regional Government Prime Minister Masrour Barzani received Parliament Speaker Mahmoud al-Mashhadani on Sunday. The two sides discussed contentious issues, particularly salaries. They also agreed on the need to keep the region's employees' financial dues separate from the disputes between Baghdad and Erbil.
Kurdistan Regional Government Prime Minister Masrour Barzani received the Speaker of the Iraqi Parliament, Mahmoud al-Mashhadani, on Sunday, July 6, 2025.
During the meeting, attended by Deputy Speaker of the House of Representatives Shakhwan Abdullah and Chairman of the Parliamentary Integrity Committee MP Ziyad al-Janani, the importance of the contentious issues between the Kurdistan Region and the federal government was discussed, particularly the issue of salaries and financial dues for salary recipients in the region.
The two sides agreed that the salary issue should be kept neutral and not be drawn into any political disputes or conflicts, so that Kurdistan Region employees do not fall victim to these conflicts, as the region's citizens have been treated unfairly.
The two sides also emphasized the need for an urgent solution to the salary issue and to ensure the transfer of financial dues to the region. In this regard, talks between the regional government and the federal government to resolve this issue will continue in the coming days.
On another note, the meeting emphasized the need to respect the federal system in Iraq and protect the rights of the constitutional entity of the Kurdistan Region.
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The House of Representatives hosts SOMO to ask about oil smuggling to evade sanctions.
The House of Representatives intends to host the Federal Minister of Oil, Hayan Abdul Ghani, and two directors general in the ministry, regarding a case considered to be oil smuggling.
According to local media outlets (identical), seen by Al-Masry Al-Youm on Sunday, next week will witness the hosting of the Minister of Oil, the Director General of SOMO, and the Director General of the Tanker Company, in the Parliamentary Oil and Gas Committee.
The event will focus on discussing recent reports regarding oil smuggling and evading sanctions on Iraqi oil exports.
Kurdish warning: Baghdad will take control of the region's oil fields within days and immediately release salaries.
Former Kurdistan Regional Parliament member and Kurdistan Islamic Union leader Sherko Jawdat warned on Saturday (July 5, 2025) of what he described as "dangerous" repercussions if an agreement is not reached between the regional government and the federal government regarding the resumption of oil exports.
In a statement to Kurdish media outlets monitored by Baghdad Today, Jawdat said, "If the Kurdistan Regional Government does not reach an agreement with the federal government to resume oil exports before Tuesday, Baghdad will then seize control of the oil fields."
He added, "The federal government will release the salaries of the region's employees directly, without consulting the Erbil government, with the support of the international community." He accused the Kurdish parties of "intransigence and bringing the situation to a critical stage that threatens the region's future."
An informed source: All oil produced in the Kurdistan Region has been delivered to Baghdad.
A source familiar with the Baghdad-Erbil negotiations told a press conference that the draft agreement on the delivery and export of oil is in its final stages, noting that the most notable amendment to the agreement is the delivery of all produced oil in exchange for the federal government securing the Kurdistan Region's needs for petroleum products.
According to available information, initial estimates indicate that the Kurdistan Region needs between 50,000 and 55,000 barrels of crude oil per day, which will be sent to refineries for the production of petroleum derivatives.
The Iraqi budget law stipulates the delivery of 400,000 barrels of oil per day in exchange for the monthly financial dues to the Kurdistan Region. However, Baghdad was recently informed that the region's actual production capacity does not exceed 280,000 barrels per day.
The source in the Kurdistan Regional Government indicated that the draft agreement stipulates the dispatch of a delegation from the Iraqi Ministry of Oil to the region for two purposes: first, to determine the actual level of oil production, and second, to assess the extent of local needs for petroleum products such as kerosene, gasoline, and gas oil, which the federal government will provide according to the agreement.
The Kurdistan Regional Government is expected to send its official response to Baghdad on Monday, July 7, including approval of the proposed oil delivery mechanism.
The source explained that the next stage includes consultations with the Coordination Framework coalition regarding the content of the agreement, a task assigned to Prime Minister Mohammed Shia al-Sudani, in preparation for a decision on sending an advance payment of salaries to Kurdistan Region employees. This payment is likely to be disbursed on Tuesday or in the following days, provided no new obstacles arise.
It is worth noting that Kurdistan Region oil exports via the Turkish port of Ceyhan have been suspended since March 25, 2023, while an amendment to the budget law entered into force on February 17 with the aim of removing obstacles to the resumption of these exports.
Under the amendment, a consulting firm will assess the costs of extracting and transporting Kurdistan Region oil. Until this assessment is completed, Baghdad will temporarily pay oil companies $16 per barrel as an operating cost.
In this regard, an official at one of the oil companies operating in the Kurdistan Region revealed to Rudaw that the companies officially submitted their opinions and proposals to the Kurdistan Regional Government on July 2, which in turn forwarded them to Baghdad. These proposals included three main demands.
The demands are: First, that the $16 allocated for extraction and transportation costs be temporary and limited to 90 days, the period within which the consulting firm is supposed to complete its work.
Second, maintaining the content of contracts signed with companies, while adopting the percentage stipulated therein as the basis for financial entitlements, rather than specifying a fixed amount.
Third, address the government's accumulated debts, which exceed $900 million, and hold one of the parties, Erbil or Baghdad, responsible for repaying them.
Kurdistan Region agrees to hand over oil to Baghdad, final agreement expected within 24 hours
22:34
An informed source reported on Sunday (July 6, 2025) that the Kurdistan Region informed the federal government of its official approval to deliver its oil to Baghdad, as part of the joint oil agreement.
The source confirmed in a statement to Baghdad Today that "the regional government's response has already reached Baghdad, and includes full approval for the delivery of oil according to the mechanisms discussed during previous meetings," noting that "the federal government's response will be sent to the region tomorrow, Monday."
The source added, "The two sides are close to finalizing the final version of the full agreement."
Kurdish party speaks of a "golden opportunity" to resolve oil disputes with Baghdad: salaries will be secured
Ali Hama Salih, the rapporteur of the Kurdistan National Position Movement, confirmed on Sunday that the value of local trade in petroleum products in the region has reached approximately $250 million per month, revealing the possibility of resolving the oil disputes with the federal government through a "golden opportunity ."
"Iraq is demanding the oil produced in the region, and the federal government is prepared to pay $16 for each barrel produced to the operating companies ," Hama Salih said at a press conference held in Sulaymaniyah, attended by Shafaq News Agency.
He explained that "Baghdad will provide the region's needs for gasoline and oil, as is the case with the rest of Iraq's provinces," considering that "this step represents a 'golden opportunity' that will contribute to securing the salaries of the region's employees ."
He added, "The regional government is demanding that 100,000 barrels per day be maintained to meet local demand," stressing the "importance of connecting Kurdistan with the rest of Iraq's cities with regard to oil and fuel supplies ."
He explained that "local trade in this vital sector represents a significant financial resource, estimated at approximately $250 million per month, highlighting the need for more coordinated management between Erbil and Baghdad ."
The Kurdistan Regional Government's Council of Ministers affirmed last Wednesday the implementation of all federal government obligations regarding the region's oil exports through SOMO, and the transfer of sales proceeds to the federal Ministry of Finance. The Council of Ministers called on Baghdad to end the "policy of depriving" Kurdistan citizens of their salaries .
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Industry: Investment opportunities for phosphate fertilizer production
The Ministry of Industry and Minerals announced the referral of investment opportunities to establish new, integrated phosphate fertilizer plants to a consortium comprising the Iraqi Asas Engineering Company and East China Company, as part of its efforts to boost national production in the chemical industries sector.
The ministry's media spokesperson, Duha Al-Jubouri, told Al-Sabah: "The Opinion Board and the relevant departments within the ministry are in the process of approving the referral decision in preparation for signing the final contract next month." She noted that "the new plants will operate with an annual production capacity of 1.5 million tons of phosphate fertilizers." Al-Jubouri explained that the investment project includes the development of the phosphate ore mine in Akashat, west of Anbar. This mine constitutes a fundamental pillar in the production chain, as the raw materials will be transported to the Al-Qaim Industrial Complex for use as raw materials in fertilizer manufacturing. She confirmed that all production lines in Akashat and Al-Qaim will adopt the latest technologies. Regarding phosphate reserves, Al-Jubouri revealed that "the confirmed reserves in the Akashat mine alone amount to (3) billion tons, while the other mines in the Sawab and Al-Hari areas contain about (7) billion additional tons, bringing the total confirmed national reserves to about (10) billion tons," considering this a "strategic wealth suitable for long-term investment." She emphasized that the Minister of Industry and Minerals, Khaled Battal Al-Najm, has given special importance to investment in the phosphate sector since assuming office, as three investment conferences were organized specifically for this purpose, and their outcomes were the referral of these major investment opportunities, while there are still two additional opportunities under study by the ministry.
Chemical industry
Regarding the importance of phosphate, economic expert Dr. Ikram Abdel Aziz explained that phosphate represents a vital mineral with multiple uses and is an essential material in many vital and agricultural industries. Speaking to Al-Sabah, Abdel Aziz said, "Phosphate is used in the manufacture of animal feed supplements, as it provides the phosphorus and calcium necessary for bone growth and reproduction in livestock." She noted that "this substance is also used in the chemical and agricultural detergent industries, as it is an essential raw material for the production of phosphoric acid, which in turn is used in the manufacture of many industrial chemicals."
She added that phosphate plays an important role in mining operations, by helping to remove impurities and enhance the fluidity of molten metals, which aids in the extraction and purification of metals such as iron, steel, aluminum, and copper.
On the environmental side, Abdelaziz explained that "phosphate is used to stabilize soil and prevent soil erosion by strengthening its structure, which contributes to supporting land management practices, especially in areas prone to erosion."
In the medical field, she emphasized that "calcium phosphate compounds are used to ensure the safety and quality of drinking water and industrial systems, in addition to their role in promoting public health and protecting infrastructure."
Abdelaziz concluded her remarks by highlighting the growing role of phosphate in renewable energy, saying, "Phosphate is a key topic in energy storage research, as it has significant potential in this area. Scientists are currently seeking to develop technologies to improve its extraction efficiency and expand its use in recycling phosphorus from organic waste and wastewater."
Al-Husseini: America is blackmailing Baghdad politically and economically through the electricity and gas issues.
Member of Parliament Yasser Al-Husseini accused the US administration on Sunday of continuing its policy of political and economic blackmail against the Iraqi government, stressing that the current pressures serve the agenda of US President Donald Trump.
Al-Husseini told Al-Maalouma Agency that "the central government has recently succumbed to US pressures aimed at creating crises, especially in the electricity issue and the import of Iranian gas, with the aim of imposing a political and economic will serve that Trump's economic project."
Al-Husseini pointed out that "the United States is deliberately preventing a radical solution to the electricity crisis in Iraq for blatant political reasons, which serve the framework of keeping the
country in a cycle of economic dependency and financial deficit."
He added that "the goal of these policies is to keep Iraq economically shackled, unable to advance its institutions or achieve internal stability, in line with Washington's approach of plundering Iraqi resources and restricting sovereign decisions."
Al-Husseini stressed that "the blackmail of the central government continues, and it has become clear to all observers that the United States' policy seeks to impose a reality that serves its interests at the expense of Iraqi security and autonomy."
US network reveals Trump's strategy in Iraq - Urgent
Oil Price Network revealed in a report published today, Sunday, July 6, 2025, that US President Donald Trump is "moving dynamically in Iraq" to implement a new strategy through which he is attempting to confront Chinese and Russian influence in the world.
The network said, as translated by Baghdad Today, that American involvement in Iraqi affairs "is now becoming increasingly deep," stressing that "it appears that the American president has a strategy centered around two aspects. Through the first, he is trying to force Iran to negotiate by imposing multiple pressures on it, and thus its influence in Iraq."
She continued, "The second aspect of Trump's strategy is an attempt to draw Iraq closer to the Western, and specifically American, sphere of influence, and to reduce Chinese and Russian influence in Iraq, thereby reducing the influence that is now growing in the region."
The network concluded its report by noting that Trump is also attempting to achieve these goals by threatening economic sanctions against the government in Baghdad and using Iraq's relationship with Iran as a means of pressuring the Iraqi government.
Trump's envoy discusses three Middle East issues
ExpressSteveWitkov,Special EnvoyTo the American PresidentDonald Trump...about his optimism regarding three major issues related to the Middle East: Gaza, Iran, and expanding the circle of normalization between Israel and Arab countries.
He pointed to the possibility of Qatar joining the Abraham Accords in the future, along with other countries such asSyriaAnd Lebanon.
With regard to the Kingdom of Saudi ArabiaSaudi ArabiaWitkov explained that normalization with it "will not be soon," and that "it may take longer," but he did not rule out the possibility of reaching a different kind of agreement betweenRiyadhand Tel Aviv in the future, adding that the Saudis "may seek another important agreement, albeit not within the framework of the Abraham Accords."
Regarding the prisoner exchange file, Witkoff indicated that efforts are continuing to return the bodies of the Israeli dead held by Hamas.
Regarding the Iranian file, amid recent Israeli and American statements about the success of the campaign againstTehranWitkov, who participated in previous negotiations withIranThe possibility of reaching an agreement that would prevent it from resuming uranium enrichment, without providing details about the nature of this agreement or the parties involved.
Netanyahu heads to Washington without firm restrictions on Gaza deal
Hebrew media reported on Sunday that Israeli Prime Minister Benjamin Netanyahu left for Washington to meet with US President Donald Trump, without any clear red lines regarding a possible ceasefire deal in Gaza .
Israel's Channel 13 reported, citing sources in the ministerial cabinet, that Netanyahu showed flexibility regarding the Israeli army's withdrawal from the Gaza Strip to a defined area, as well as regarding the humanitarian aspects of the agreement .
Sources indicated that "ending the war" is still being presented by Netanyahu as a "red line" for ministers, despite his flexibility on other details .
Last Friday, Hamas announced its readiness to begin "immediate" talks regarding the US-Qatari-Egyptian proposal for a ceasefire in the Gaza Strip .
Netanyahu: We have already changed the Middle East
Israeli Prime Minister Benjamin Netanyahu said on Sunday that Israel has already changed the Middle East.
"We are working to expand the circle of peace in the region, and we are determined to return all the abductees, achieve victory, and eliminate Hamas's military capabilities," Netanyahu said at Ben Gurion Airport before heading to Washington.
He added, "We have achieved great accomplishments in Gaza, and we have more to complete by returning all the hostages."
He pointed out that "Israel has already changed the Middle East, and we have an opportunity to expand peace agreements
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Dollar Escape or Digital Trap? Iraq’s Financial Sovereignty Move
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