Muzhir Muhammad Salih: The informal economy hides 67% of the market in Iraq.
Saleh explained in his interview with Al-Furat News Agency that "this economic, social and legal paradox cannot be addressed through imposing taxes or prosecution, but rather through simplifying the procedures adopted by the government program, such as registration, reducing fees, and providing real incentives such as loans and insurance."
He pointed out that "the adoption of electronic payment through digital payment applications, with its current resurgence, can enhance transparency and facilitate the integration of this sector into the regulated market economy."
He explained that "when the formal economy becomes more accessible and beneficial, the informal market will become a supporting force for the economy instead of remaining outside the organized market and the legal framework that protects market activity, including the social protection system and the workers' pension fund."
He added that "the entire informal economy can then be transformed into a supporting force for the economy, based on governance and transparency, instead of remaining outside the legal framework and social protection."
President Masoud Barzani: We refuse to elect a president before agreeing on a prime minister.
President Masoud Barzani today affirmed a firm stance regarding the developments in the political process in Iraq, rejecting attempts by some parties within the "Coordination Framework" to proceed with the election of the President of the Republic without resolving the issue of the Prime Minister candidate.
President Barzani said in a statement on Friday via the X platform that insisting on presenting one file over another in light of the lack of clarity regarding the leadership of the government is "unacceptable".
President Barzani stressed the need to resolve the two issues "simultaneously" as a basic condition for proceeding with any constitutional entitlement, stressing that this path is the only guarantee to ensure the presence and participation of all political forces in the next session of the House of Representatives, and to achieve the required balance in the administration of the state.
A "last chance" mission: Vance in Pakistan to salvage the fragile truce and prevent the war with Iran from escalating.
In a move reflecting the seriousness of the military situation in the Middle East, US President Donald Trump has tasked his Vice President JD Vance with leading urgent diplomatic efforts to find a way out of the six-week-old war with Iran, at a time when the temporary truce is facing imminent collapse amid tensions that have reached unprecedented levels.
J.D. Vance arrived in the Pakistani capital, Islamabad, on Friday, April 10, 2026, leading a high-level delegation for indirect negotiations with Iran. These efforts aim to prevent the escalation of the conflict and avert the implementation of Trump's previous threats to destroy "Iranian civilization."
Vance's delegation includes Steve Wittkopf, Trump's special envoy, and Jared Kushner, the former president's son-in-law who previously participated in three rounds of indirect talks concerning Tehran's nuclear and missile programs. This meeting represents one of the highest-level contacts between Washington and Tehran since 1979.
In conjunction with these moves, President Trump directed sharp criticism at Tehran via social media platforms, accusing it of obstructing the passage of oil tankers, writing: "Tarran is making a big mistake... This is not the deal we made!"
For his part, J.D. Vance enters these negotiations with a military background, having served in the Marines in Iraq. Despite his limited diplomatic experience, he enjoys Trump's complete trust. Observers believe that Vance's less enthusiastic stance on military interventions may make him a more acceptable or capable negotiator with the Iranians to end the confrontation.
This mission is a crucial test for Vance's political future, as he is seen as a strong candidate to succeed Trump in the 2028 presidential election. Experts believe that Vance's success in defusing the crisis will constitute a historic achievement that enhances his presidential chances, while failure to reach a full agreement will hold him responsible for the deteriorating situation, which could put an early end to his political ambitions.
An Iranian delegation arrives in Islamabad to begin negotiations with the United States.
The Iranian negotiating delegation, headed by the Speaker of Parliament, arrived in Islamabad to conduct negotiations with the American side. Thedelegation includes security, political, military, economic, and legal committees .
The Fars News Agency, as reported by Al-Sa’a Network, stated that “if the other party accepts the preconditions set by Iran for the start of negotiations, these talks will begin .”
She added that "Parliament Speaker Mohammad Baqer Qalibaf is accompanied on this visit by Foreign Minister Abbas Araqchi, Ali Shamkhani (or the correct name according to the source if verification is needed), the Secretary of the Defense Council, the Governor of the Central Bank, as well as a number of members of Parliament ."
US Vice President J.D. Vance, along with Wittkopf and Kushner, also attended the Islamabad visit .
The parliament's leadership threatens MPs who are absent from tomorrow's session to elect the president.
The Speaker of Parliament vowed on Friday to publish the names of MPs who will be absent from tomorrow's session to elect the President of the Republic.
Parliament Speaker Mohammed al-Halbousi said in a statement, "We call on political leaders, heads of parliamentary blocs, and members of the House of Representatives to attend tomorrow's session, Saturday, which is dedicated to electing the President of the Republic, and to proceed with completing the constitutional requirements and prioritizing the supreme national interest, in light of the security and economic conditions the country is going through, which require everyone to bear their national responsibilities."
He confirmed that "the names of the absent MPs, as well as the political blocs that prevent their MPs from attending, will be published in order to inform the public."
Experts: The Hormuz crisis is a wake-up call for restructuring the Iraqi economy.
The economic circles in Iraq are witnessing a remarkable rise in calls for the adoption of comprehensive structural reforms aimed at diversifying sources of income and reducing the almost total dependence on oil, following the recent crisis that the country was exposed to as a result of the closure of the Strait of Hormuz, and the direct repercussions that followed on global and local markets.
Iraq relies heavily on oil revenues, which constitute more than 90 percent of its general budget revenues, making it vulnerable to external shocks and sharp fluctuations in energy prices. Experts believe that this single-resource economic model exposes the country to recurring risks, as global crises quickly translate into domestic crises that directly affect the lives of citizens.
Risk management and sovereign wealth funds
In this context, economic researcher Imad Al-Muhammadawi emphasizes the importance of adopting proactive policies for risk management, stressing the need to establish sovereign wealth funds to which a percentage of oil revenues are allocated, with the aim of confronting crises and emergencies.
Al-Muhammadi points out that many oil-producing countries have succeeded in limiting the impact of economic shocks by establishing such funds, which act as a financial line of defense that contributes to stability when prices fall or supplies are disrupted, noting the importance of developing alternative plans to confront regional and international crises.
Improving the investment environment
In a related vein, economic experts emphasize the importance of improving Iraq's investment climate by modernizing legislation and regulations to attract both domestic and foreign capital. They stress that investment is the primary driver of any economy, as increased investment leads to higher GDP, particularly in projects that contribute to technology transfer and skills development.
Investment activity also has a positive impact on multiple sectors such as transportation, trade and services, within the framework of what is known economically as the “investment multiplier effect”, which helps to reduce the severity of market shocks and enhance the resilience of the economy.
Economic diversification and human development
For his part, academic Dr. Kazem Eidan Shadeed stresses that the next stage requires serious and intensive work to diversify the economy and not rely on a single resource, stressing that building the human being represents the cornerstone of any sustainable development process.
He adds that achieving economic stability is closely linked to strengthening national unity and long-term planning, noting the importance of establishing a “Generations Fund” as a strategic step towards ensuring the rights of future generations and achieving financial sustainability.
Banking system reform
Eidan emphasizes that confronting crises, whether internal or external, requires adopting a package of integrated measures, foremost among them developing the banking system to be more efficient and stable, in addition to supporting digital transformation in the financial sector.
It also calls for strengthening the role of small and medium enterprises, given their importance in stimulating the local economy and creating job opportunities, as well as the need to rationalize consumption, manage resources efficiently, and build community support networks capable of adapting in times of crisis.Regional influences
Global repercussions
On the global markets front, European stock exchanges saw a notable rise of over 3 percent following the announcement of a two-week ceasefire in the Middle East and the reopening of the Strait of Hormuz, through which about 20 percent of the world's oil supply passes.
Brent crude futures also fell by about 15 percent, settling below $100 a barrel, indicating a relative improvement in market confidence and a resumption of oil and gas flows. Despite this temporary relief, investors are still waiting to see if this lull paves the way for lasting solutions that will ensure stable supplies and prices.
On the eve of negotiations with Iran, America is deploying new military reinforcements to the region.
The Wall Street Journal revealed on Friday that US military units, including an aircraft carrier and 2,000 soldiers, have been moved to the Middle East, in addition to the recent arrival of fighter and attack aircraft, coinciding with preparations for holding "peace talks" with Iran in the Pakistani capital, Islamabad.
The newspaper quoted a US official as saying that "the aircraft carrier George W. Bush and its ships in the Atlantic are heading to the Middle East, and about 2,000 soldiers from the 82nd Airborne Division will arrive in the Middle East in the coming days."
The American official confirmed that "American fighter and attack aircraft have recently arrived in the Middle East."
These military reinforcements come at a time when the United States and Iran are preparing to hold their first round of negotiations since the last war.
On Friday, US President Donald Trump threatened to resume military operations against Iran if peace talks with it, mediated by Pakistan and scheduled to be held in the capital Islamabad on Saturday, falter.
Trump told the New York Post: "American warships are being supplied with the best munitions to resume strikes on Iran if peace talks in Pakistan fail."
He said, "We are dealing with people we don't know if they are telling the truth or not, and we will know the chances of success for the talks with Iran in about 24 hours."
The US president pointed out that "the Iranians tell us in front of us that they will get rid of nuclear weapons, and then they tell the press that they will enrich uranium," stressing that "reopening the Strait of Hormuz is a key element in any ceasefire agreement."
The United States and Iran will begin "direct" negotiations in the Pakistani capital, Islamabad, on Saturday, with the aim of reaching a permanent ceasefire.
Pakistan contributed to reaching a two-week truce announced by Washington and Tehran early last Wednesday, as a prelude to an agreement to end the war that the United States and Israel started against Iran on February 28.
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Washington summons Iraqi ambassador and issues "strong warning"
The US State Department summoned the Iraqi ambassador to Washington, Nizar Khairallah, on Thursday, April 9, 2026, to inform him of a strongly worded protest and the US government’s condemnation of the increasing attacks launched by pro-Iranian militias from Iraqi territory.
A statement issued by the US State Department spokesperson said that Deputy Secretary of State Christopher Landau met with the Iraqi ambassador to express US outrage over the "serious terrorist attacks" targeting diplomatic personnel and facilities, the latest of which was the ambush targeting US diplomats in Baghdad yesterday, April 8.
Open criticism of the Iraqi government
Landau noted that these attacks are part of a series of hundreds of attacks that have occurred in recent weeks, targeting not only American interests, but also institutions in Iraq and its neighbors, including the Kurdistan Region.
In an unprecedentedly escalating tone, the Deputy Secretary of State criticized the Iraqi government's "failure" to prevent these attacks, noting that some entities linked to the Iraqi government continue to provide "effective political, financial, and operational cover" for these militias, stressing that this situation negatively and directly affects the future of bilateral relations between Washington and Baghdad.
Demands for "immediate dismantling"
The US official stressed that the United States "will not tolerate" any targeting of its interests or citizens, and called on Baghdad to immediately begin practical measures to dismantle the militia groups active in Iraq.
This article is dated APR 11 26
The Revolutionary Guard establishes a "front" in Baghdad
Iraqi requests to halt attacks rejected
Sources revealed that officers in the Iranian Revolutionary Guard continue to manage the operations of armed factions in Iraq and reject political requests to stop the attacks, acting as a “shadow military supervisor” to establish a pressure front on Washington in anticipation of the failure of negotiations.
Two sources from the “Coordination Framework” and the Iraqi government said that the heads of four Shiite parties held discussions in recent weeks with Iranian officials inside Iraq with the aim of convincing them of the need to stop the attacks, but they did not respond.
Sources said that a Quds Force officer with significant influence in Baghdad "does not respond to calls from allies within the coordination framework, limiting his communications to operations officials in armed factions." The sources quoted a senior Iraqi official, speaking during a private security meeting, as saying, "How is it possible that we cannot stop this man (the Revolutionary Guard officer)?" He added, "Why can't we arrest him?"
The Lebanese Presidency: We agreed to hold the first meeting on Tuesday at the US State Department to discuss a ceasefire declaration.
The Lebanese Presidency announced an agreement to hold the first meeting on Tuesday at the US State Department to discuss a US-sponsored ceasefire declaration.
The Lebanese Presidency stated that a phone call, the first of its kind, took place between the Lebanese Ambassador to Washington, the Israeli Ambassador to Washington, and the US Ambassador to Beirut.
Atroushi announces his refusal to attend the presidential election session "out of concern for the stability of the political process."
On Friday, Farhad Atroushi, the deputy speaker of the Iraqi parliament, objected to the agenda of the session scheduled for Saturday to elect the president, saying that proceeding with it in the absence of national and political consensus might deepen the disputes instead of ending the deadlock that has been hindering the formation of the government for months.
In a statement, Atroushi said that political forces still need more dialogue and understandings to reach a candidate who enjoys broad acceptance, adding that the dispute is not limited to the position of President of the Republic, but also extends to the position of Prime Minister, about whom he said that political forces have the right to see the name of their candidate and express their opinion on him.
He pointed out that his position comes "out of concern for the stability of the political process and to ensure the democratic path in the country."
Atrushi’s stance comes despite major blocs announcing their intention to attend Saturday’s session. The National State Forces Alliance, led by Ammar al-Hakim, and the Progress Party, led by Mohammed al-Halbousi, confirmed the participation of their representatives in the session. The Reconstruction and Development Bloc, supported by Prime Minister Mohammed Shia al-Sudani, also announced its full attendance.
However, the position of the Kurdistan Democratic Party, to which Atroushi belongs, is still not definitively decided, as the party has linked its participation in the session to reaching a broader political consensus.
The parliament's leadership had set April 11 as the date for the special session to elect the president of the republic, in an attempt to end a political deadlock that has persisted since the legislative elections in October/November 2025.
Iraq has exceeded the constitutional deadline by about 70 days, while 148 days have passed without the formation of a new government.
This comes amid the intersection of two political crises, the first being Kurdish, related to nominations for the presidency, as the Democratic Party first put forward Fuad Hussein and then Nawzad Hadi before the latter withdrew, in contrast to the Patriotic Union’s insistence on Nizar Amidi before he later spoke of an understanding on his name, and the second being Shiite, related to the premiership, after the Coordination Framework nominated Nouri al-Maliki, but his nomination was met with declared American rejection and internal disputes that divided the Framework between supporters, opponents and those with reservations, which kept the files of the two presidencies suspended until now.
US official: China's involvement in the Iran issue could "complicate" relations
President Donald Trump’s top trade adviser warned Friday that relations between the United States and China could become more complicated if Beijing’s engagement with Iran harms U.S. interests.
U.S. Trade Representative Jamison Greer said relations between the world’s two largest economies were stable, but cautioned China against growing closer to Iran amid the ongoing conflict in the Middle East.
Trump has threatened to impose 50% tariffs on goods from countries that arm Tehran, a move that could undermine the fragile trade truce with China if implemented.
While Beijing does not send weapons directly to Iran, Western reports suggest it provides Tehran with dual-use technologies.
“If China is going to engage with Iran in a way that is detrimental to U.S. interests, then of course that will complicate things, and it is up to China to remove that complication,” Greer said in an interview with CNBC.
Trump and his Chinese counterpart, Xi Jinping, are scheduled to hold a summit in Beijing in May, a high-level meeting that was previously postponed so the U.S. president could remain in Washington and focus on the Iran conflict.
This postponement has unsettled financial markets, at a time when the conflict threatens to exacerbate tensions in US-China relations, which are already strained by a complex trade truce and other issues such as Taiwan.
China is a major importer of crude oil, and the de facto closure of the Strait of Hormuz by Iran has severely restricted supplies, driving up oil and gas prices.
Trump has pressured China and other countries to help reopen the waterway, but these calls have been rejected. The
two-week ceasefire announced earlier this week includes an agreement to reopen the strait, but traffic remains effectively blocked, making it a key sticking point in the anticipated US-Iranian talks this weekend.
Tether Crypto Allegedly Used by Iran's Central Bank to Bypass Sanctions
Elliptic report uncovers $507 million in Tether flows through accounts linked to Iran's central bank, raising ethical concerns over Nigel Farage's advocacy for the cryptocurrency
Apr. 10, 2026 at 7:57am
A recent report by crypto analytics firm Elliptic has uncovered a startling connection between Iran's central bank and Tether, a cryptocurrency championed by Nigel Farage, the leader of Reform UK. According to the findings, at least $507 million worth of Tether's stablecoins have flowed through accounts seemingly controlled by Iran's central bank, potentially allowing the country to bypass global sanctions. This revelation raises uncomfortable questions about the ethical implications of Farage's advocacy for Tether and the broader challenges of regulating cryptocurrencies to prevent misuse by bad actors.
Why it matters
The alleged use of Tether by Iran's central bank to circumvent sanctions highlights the dual potential of cryptocurrencies - for innovation and for exploitation. While stablecoins like Tether are touted for their ability to facilitate global trade, they can also provide a veil for activities that might otherwise be restricted. This case underscores the need for robust regulation and oversight to prevent cryptocurrencies from becoming tools for sanction evasion and other illicit activities, especially given the growing influence of figures like Nigel Farage who have publicly championed these digital assets.
The details
Elliptic's investigation suggests that Iran's central bank has been systematically accumulating Tether's stablecoins as part of a sophisticated strategy to circumvent the global banking system. This could be aimed at facilitating trade or stabilizing the Iranian rial, the country's embattled currency. While cryptocurrencies are often praised for their transparency, they can also provide a means for bad actors to obscure their activities. The revelation that Iran's central bank has allegedly been using Tether raises ethical questions about the advocacy of figures like Nigel Farage, who has openly promoted the cryptocurrency and even discussed its potential with the governor of the Bank of England.
- In 2026, a report by crypto analytics firm Elliptic uncovered the alleged connection between Iran's central bank and Tether.
- Last year, Israel exposed dozens of crypto accounts allegedly used by Iran's Revolutionary Guards, which inadvertently led to the discovery of the links between Tether and Iran's central bank.
What’s next
Regulators and policymakers will likely continue to scrutinize the use of cryptocurrencies like Tether to ensure they are not being exploited for illicit activities, such as sanctions evasion. The outcome of this investigation and any potential policy changes could have significant implications for the future of digital finance and the role of stablecoins in the global economy.
