Speculation and Scarcity Drive Iraqi Dinar Lower as Baghdad Rejects Devaluation Fears
While the closure of the Strait of Hormuz chokes oil revenue, currency markets in Erbil and Baghdad grapple with a dollar shortage and a wave of disruptive rumors.
In the bustling corridors of Erbil's currency bazaar, the rhythmic exchange of notes has taken on a frantic pace as the U.S. dollar climbs sharply against the Iraqi dinar. On Tuesday, the local market was defined by a volatile mix of genuine scarcity and a feverish wave of speculation, leaving traders and citizens alike struggling to find firm footing in an increasingly unstable financial landscape.
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The immediate source of the tremor appears to be a sudden tightening of dollar liquidity originating in Baghdad. Mam Sayid, a prominent currency exchanger in Erbil's bazaar, told Kurdistan24 on Tuesday that the primary driver behind the dollar's surge is a physical shortage of the currency.
While the Central Bank of Iraq (CBI) continues to sell dollars, Sayid noted that the pace is depleting national reserves at a concerning rate.
The resulting anxiety is manifesting in sharp price fluctuations.
According to Sayid's 24-hour market update, the exchange rate moved from approximately 154,000 IQD per $100 on Monday morning to as high as 156,000 IQD by Tuesday.
This rapid depreciation has been further fueled by a persistent rumor that the Central Bank intends to raise the official exchange rate to 142,000 IQD, a move that would effectively codify a devaluation of the national currency.
Sayid was emphatic that the disruption is a product of policy uncertainty in the capital rather than local conditions in the Kurdistan Region.
The fiscal squeeze is undeniable, and its roots are deeply anchored in the region's geopolitical volatility. Iraq's financial health is inextricably tied to its oil exports, and the recent conflict has dealt a staggering blow to the state's revenue streams.
Mazhar Mohammed Salih, a senior economic advisor to Iraqi Prime Minister Ali al-Zaidi, recently provided Kurdistan24 with a stark assessment of the crisis.
He explained that the ongoing closure of the Strait of Hormuz, the maritime chokepoint through which 85 percent of Iraq's oil once flowed daily, has severely restricted the government's financial capacity.
However, Salih moved decisively to quell the market's worst fears. In an interview with Kurdistan24, he categorically denied reports that the government plans to officially devalue the dinar to offset the revenue shortfall.
"At this stage, the Iraqi government has no plans to raise the value of the dollar," Salih stated, characterizing reports of an impending hike as baseless.
He noted that the administration is instead aggressively pursuing alternative economic mechanisms to navigate the current fiscal crunch without resorting to a policy-led increase in exchange rates.
Despite these official reassurances, the psychology of the bazaar often moves faster than the directives from the Prime Minister's office.
In a highly dollarized economy like Iraq's, rumors of a pending rate change often become self-fulfilling prophecies.
Traders, anticipating a more expensive dollar tomorrow, hoard their current holdings today, thereby strangling supply and driving prices up in a classic speculative loop.
The shift in market demand also reflects broader regional alignments. Mam Sayid revealed that while the dollar dominates the conversation, demand among traders has become concentrated on the Iranian toman.
Meanwhile, traditional trading in other major international currencies, such as the euro, the British pound, and the Chinese yuan, has effectively stalled. This stagnation in non-dollar trading highlights the unique, almost singular importance of the U.S. currency to Iraq's domestic stability and its ability to pay for essential imports.
The implications for the average Iraqi are significant.
A rising dollar translates directly into higher costs for imported goods, from basic foodstuffs to electronics and medicine, eroding the purchasing power of families already strained by the wider regional conflict.
For the al-Zaidi government, the challenge is twofold: they must manage a genuine liquidity crisis born of suppressed oil exports while simultaneously conducting a war of words against the rumors that threaten to unanchor the currency.
As the markets wait for a definitive sign of stability, predicting the dinar's trajectory remains a difficult task for even the most seasoned observers.
For Mam Sayid and his fellow traders in Erbil, the immediate future is a waiting game. Until the underlying scarcity is resolved and the "142,000" rumor is fully exorcised from the public consciousness, the Iraqi dinar will likely remain at the mercy of the prevailing winds blowing from Baghdad and the volatile waters of the Gulf.
The fluctuation in the dollar's exchange rate is linked to the mechanisms of the central bank and has no relation to political agreements.
A currency exchanger in Erbil markets revealed that the main reason behind the recent rise in the dollar exchange rate is due to the scarcity of hard currency offered in the markets, denying that the matter has any connection to political understandings or agreements.
Money exchanger Mam Sayed explained in an exclusive statement to Kurdistan 24 on Tuesday, June 16, 2026, that the decline in the amount of dollars offered by the Central Bank of Iraq has directly impacted prices. He pointed out that the scarcity of foreign currency in the markets is linked to the Central Bank's sales mechanism in Baghdad. He also noted the existence of unconfirmed rumors about the Central Bank's intention to adjust the official exchange rate to 142,000 dinars per 100 dollars, which has contributed to increased volatility and instability in the parallel market.
Regarding the role of Erbil markets in price movements, Mam Sayed stressed that "this situation is not related to Erbil markets, but rather the procedures followed in Baghdad are the main cause of the current state of confusion."
Regarding price levels, Al-Sarraf explained that the trading of the past 24 hours witnessed sharp fluctuations; as the exchange rate yesterday morning reached 154,000 dinars per 100 dollars, while the price currently ranges between 155,700 and 156,000 dinars.
He also revealed that commercial activity and market demand are currently concentrated almost entirely on the Iranian Toman, while trading in other currencies such as the Euro, the British Pound, and the Chinese Yuan has witnessed a significant decline and near-total stagnation.
The money changer pointed out the difficulty of predicting the course of exchange rates in the coming days, given the continued scarcity of dollars and the uncertainty regarding the duration of this situation.
For his part, Mazhar Muhammad Salih, the Iraqi Prime Minister's economic advisor, had previously told Kurdistan 24 that the current financial difficulties are directly linked to regional tensions and the closure of the Strait of Hormuz. He explained that approximately 85% of Iraq's oil was exported daily through this strait, meaning that the disruption of this vital waterway has severely limited the government's financial capabilities.
Ali al-Zidi’s advisor denied rumors that spoke of a government intention to reduce the value of the local currency, stressing: “The Iraqi government has no plans at the moment to raise the exchange rate of the dollar, but rather all efforts are focused on finding alternative mechanisms and overcoming the current financial crisis.”
The clarifications from Mazhar Muhammad Salih come in response to what local media outlets have been reporting in recent days regarding the federal government's intention to raise the exchange rate of the dollar against the dinar to confront the current economic and financial challenges.
The government announces the purpose of al-Zaidi's visit to Washington
Al-Aboudi said in a press statement: “The Prime Minister, Ali Faleh Al-Zaidi, will pay an official visit to Washington in mid-July with the aim of establishing the necessary momentum to strengthen the Iraqi-American partnership and elevate it to an effective level within the framework of the strategic relationship between the two countries, in accordance with the principle of common interests of the two friendly peoples.”
He added, “Based on the priorities of the Iraqi government and its ministerial program, which has gained the confidence of the House of Representatives, economic, trade and investment files will be at the forefront of the axes of the anticipated visit as the cornerstone of the path of bilateral cooperation,” noting that “the government seeks to expand the horizons of strategic partnership with international companies and stimulate the investment environment in a way that contributes to achieving direct benefits for the Iraqi economy and enhances internal stability.”
Al-Aboudi continued, “Within the framework of this stability, which is based on economic foundations and flexible management of the variables of the current stage, the Iraqi government is proceeding with addressing the issue of unregulated weapons and working to restrict their possession and use to the state and its competent institutions, as they are constitutionally authorized to make the sovereign decision in this field.”
Prime Minister Ali Faleh al-Zaidi received in his office the US President’s Special Envoy, Tom Barrack, and discussed with him the Iraqi government’s shared commitment to establishing a strong and mutually beneficial US-Iraqi partnership capable of fulfilling the aspirations of Iraqis for a future of sovereignty, security and prosperity, and providing tangible benefits to both the Iraqi and American peoples.
Barak from Erbil: Trump has special respect for the Kurdish people and the Kurdistan Region.
US President Donald Trump’s special envoy to Iraq and Syria and US ambassador to Turkey, Tom Barrack, affirmed on Tuesday that President Trump has special respect for the Kurdish people, the Kurdistan Region, and its leadership.
This came during a meeting between Barak and the Prime Minister of the Kurdistan Region, Masrour Barzani, in Erbil, in the presence of the Chargé d'Affaires of the US Embassy in Baghdad, Joshua Harris, and the Commander of the Coalition Forces in Iraq and Syria, General Kevin Lambert, according to a statement issued by the regional government and received by Shafaq News Agency.
The two sides discussed the general situation in the Kurdistan Region, Iraq and the region, while the Prime Minister of the region renewed his thanks and appreciation to the United States for its continued support, stressing the importance of strengthening bilateral cooperation in various fields.
For his part, Barak praised the progress and development in the Kurdistan Region, stressing that President Trump views the Kurdish people, the region, and the leadership of Masoud Barzani with special respect.
Both sides agreed on the importance of developing trade relations between the United States, Iraq and the Kurdistan Region, and enhancing the activity of American companies, particularly in the energy sector.
They also affirmed their support for the new federal government headed by Prime Minister Ali al-Zubaidi, which contributes to achieving economic prosperity and serving all citizens and components in Iraq, as well as addressing outstanding issues between Baghdad and Erbil in accordance with the constitution.
On another front, both sides stressed the importance of activating the Kurdistan Parliament and ending the political deadlock, which would pave the way for the formation of the new cabinet of the regional government as soon as possible.
Nechirvan Barzani receives Barak in Erbil
The President of the Kurdistan Region, Nechirvan Barzani, received the US Representative for Iraq and Syria, Tom Barrack, in Erbil on Tuesday (June 16, 2026).
Earlier on Tuesday (June 16, 2026), Kurdistan Regional Government Prime Minister Masrour Barzani and US President’s Special Envoy to Iraq and Syria Tom Barrack emphasized the importance of supporting the federal government, headed by Prime Minister Ali Faleh al-Zubaidi, to achieve economic prosperity and serve all Iraqis.
The media office of the Kurdistan Regional Government Presidency stated in a statement received by "Baghdad Today" that "Barzani received an American delegation headed by the US President's Special Envoy to Iraq and Syria and US Ambassador to Turkey, Tom Barrack, in the presence of the Chargé d'Affaires of the US Embassy in Baghdad, Joshua Harris, and the Commander-in-Chief of the Coalition Forces in Iraq and Syria, General Kevin Lambert."
He added that "the two sides discussed the general situation in the Kurdistan Region, Iraq and the region, as well as ways to enhance joint cooperation between Erbil and Washington in various fields."
Barzani reiterated "the Kurdistan Region's thanks and appreciation for the continued support and cooperation provided by the United States, stressing the importance of expanding the horizons of bilateral cooperation and strengthening the partnership between the two sides."
For his part, Barak praised the "development and reconstruction process in the Kurdistan Region, noting the interest of US President Donald Trump in relations with the Kurdish people, the region and its leadership."
Both sides agreed on the need to develop trade relations between the United States, Iraq and the Kurdistan Region, and to enhance the role of American companies, particularly those operating in the energy sector,” stressing “their support for the new federal government headed by Al-Zaidi, in a way that contributes to achieving economic growth and serving all citizens without discrimination, as well as addressing outstanding issues between Baghdad and Erbil in accordance with constitutional frameworks.”
Regarding the internal regional file, both sides stressed "the importance of activating the Kurdistan Parliament and ending the political deadlock, which would pave the way for the formation of the new ministerial cabinet of the regional government as soon as possible."
In the same context, an informed source stated that the American envoy, Tom Barrack, discussed a number of security and economic issues with Prime Minister Ali al-Zaidi, and extended an invitation to al-Zaidi to visit the White House in the middle of next month.
The source told Baghdad Today that "the talks addressed the issue of ending the presence of outlawed armed factions and integrating them under the command of the Commander-in-Chief of the Armed Forces by the ninth month."
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U.S. Envoy Barrack Highlights Talks with Kurdish Leaders on Iraq Stability, Energy Cooperation
In a post on X following his visit, Barrack expressed appreciation for his meetings with President Masoud Barzani, Kurdistan Region Prime Minister Masrour Barzani, and Kurdistan Region President Nechirvan Barzani.
U.S. Presidential Special Envoy for Syria and Iraq and Ambassador to Türkiye, Tom Barrack, said on Tuesday that his meetings with Kurdish leaders in Erbil focused on advancing cooperation on energy, economic development, and strengthening ties between Erbil and Baghdad.
In a post on X following his visit, Barrack expressed appreciation for his meetings with President Masoud Barzani, Kurdistan Region Prime Minister Masrour Barzani, and Kurdistan Region President Nechirvan Barzani.
“Grateful for today’s meetings with President Masoud Barzani, PM Masrour Barzani, and IKR President Nechirvan Barzani — united in support of a stable, sovereign and prosperous Iraq and President Donald J. Trump’s vision for a new Middle East,” Barrack wrote. “Our discussions advanced critical opportunities in energy, economics, and the path forward between Erbil and Baghdad.”
The meetings took place during a high-level visit by an American delegation to Erbil amid a period of significant diplomatic shifts across the Middle East. The delegation's arrival coincides with growing international attention on a recent diplomatic breakthrough between the United States and Iran, which has raised expectations for a new phase of regional stability and economic cooperation.
According to information obtained by Kurdistan24, discussions between the U.S. delegation and Kurdistan Region officials centered on resolving political challenges within the Kurdistan Region, strengthening cooperation between the Kurdistan Regional Government (KRG) and the federal government in Baghdad, and developing a forward-looking agenda focused on security and economic growth.
The visit underscored Washington’s continued commitment to the Kurdistan Region as a key partner in Iraq and the wider Middle East. Barrack was accompanied by Joshua Harris, Chargé d'Affaires of the U.S. Embassy in Baghdad, and Major General Kevin Lambert, Commanding General of the Special Operations Joint Task Force-Operation Inherent Resolve (OIR).
Together, the officials reviewed regional security developments and examined opportunities arising from the rapidly evolving geopolitical landscape, with particular emphasis on maintaining stability in the Kurdistan Region, supporting Iraq’s sovereignty, and promoting economic prosperity through enhanced cooperation between Erbil and Baghdad.
The meetings reflect ongoing U.S. engagement with Kurdish leaders as Washington seeks to reinforce regional security partnerships and encourage political and economic coordination amid a changing Middle Eastern landscape.
Barak in Baghdad: Removing faction leaders, closing banks, and "open options" in case of failure!
Al-Zaydi emphasizes the need to restrict weapons and "disarm" everyone.
US envoy Tom Barrack arrived in Baghdad carrying what resembled a roadmap for the future relationship between Washington and Iraq, but the roadmap was not without warnings. According to multiple political sources, Barrack hinted at "unlimited options" if Baghdad failed to implement commitments related to disarming the factions, cutting off their funding sources, and restructuring the financial networks of influence associated with them.
The sources say that the list of American conditions is not limited to the security aspect, but extends to banking and economic files and controversial figures, all placed within a framework described as a project to "dismantle" or "prevent" the systems of influence that have formed over the past years.
However, Barrack's mission does not appear to be without its challenges. Analysts predict that the American plan will face objections from some armed factions, and perhaps from Tehran as well, based on regional calculations that extend beyond the Iraqi arena.
Barrack
, President Donald Trump's envoy to Iraq, met with Prime Minister Ali al-Zaidi in Baghdad yesterday.
Baghdad revealed, in a statement issued after the meeting, that the White House is awaiting al-Zaidi's anticipated visit in mid-July. To discuss the future of bilateral relations and the prospects for partnership between the two countries.
According to political sources who spoke to Al-Mada, Barak only arrived in Baghdad after Washington received initial positive signals regarding demands previously conveyed to the Iraqi government concerning arms, influence, and the economy. The sources described the visit as "pivotal" in the course of Iraqi-American relations, considering it to have established a new chapter, different in nature and objectives from the period following 2003, and opening the door to a partnership based on clear conditions and mutual commitments, instead of the formula that governed the relationship between the two countries during the past two decades.
The most prominent of these demands, according to the sources, is the disarmament of all armed factions "without exception," preventing their participation in the government, in addition to completing the integration of the Popular Mobilization Forces into official security institutions, after removing leaders associated with armed factions. Leaks confirm that this issue is still under discussion between the two sides and has not been definitively resolved.
Banks and corruption:
The American conditions don't stop at the arms issue; they also include closing more than 10 banks accused of smuggling dollars and involvement in money laundering, as well as restructuring other financial institutions.
They also include provisions related to expanding the measures known as "hunting down the corrupt elite," in exchange for opening the door to large-scale American and Gulf investments in Iraq.
Sources indicate that Washington links the success of these measures to the influx of major investments that Baghdad needs in the energy, infrastructure, and services sectors.
However, if the implementation of these conditions falters, Barak, according to the same sources, informed Iraqi officials that "all options are open," and that the United States will act in accordance with its interests.
Weapons should be in the hands of the state .
During their recent meeting, al-Zaidi and Barak emphasized the importance of establishing a strong and mutually beneficial American-Iraqi partnership.
According to the official statement, the two sides discussed the Iraqi government's shared vision for building a "brighter future, free from terrorism," and implementing plans aimed at the complete disarmament and disbanding of all armed groups and formations operating outside the authority of the Iraqi state, thus consolidating weapons under state control and establishing full sovereignty.
They also stressed the need to keep Iraq out of regional conflicts and prevent its territory from being used by any party to threaten security and stability in the region, emphasizing the urgent need to fully achieve these goals. Regarding
the economy and energy
, the Prime Minister reiterated Iraq's commitment to deepening trade and investment relations with the United States, a move welcomed by Obama as a shared approach.
Both sides commended Iraq's decision to finalize the operating license for Starlink to provide internet services and to launch negotiations with Chevron to develop the West Qurna-2 and Nasiriyah oil fields.
They also affirmed their commitment to enabling American companies to resume their operations with full security guarantees and to proceed with the memorandum of understanding with a company to rehabilitate the Kirkuk-Banias pipeline as a strategic oil export route.
The two sides also affirmed their commitment to expanding cooperation in the electricity sector, including a joint venture to construct a floating terminal for importing liquefied natural gas in Khor al-Zubair.
Why is Iraq drawing closer to Washington?
Ihsan al-Shammari, a professor of strategic and international studies at the University of Baghdad, believes that the new rapprochement between Baghdad and Washington stems from a number of interconnected factors.
He says that the recent war and the accompanying decline in Iranian influence have afforded Iraq greater room for maneuver and contributed to creating the conditions for a renewed partnership with the United States.
He adds to Al-Mada that the presence of a prime minister outside the traditional political establishment that previously dealt with Washington has encouraged the US administration to engage more openly with Baghdad.
Al-Shammari points out that the current government is demonstrating a clear desire to repair relations with the United States, which, he describes as having reached a near-break during the government of Mohammed Shia al-Sudani.
He continues that Washington views Iraq, along with Syria and Turkey, as part of its new regional strategy, considering these countries to be pivotal to its project of stability in the Middle East.
He also points to a convergence of economic visions between the Trump administration and the current Iraqi government, as well as an American commitment to supporting and ensuring the success of al-Zaidi's government, which provides the latter with significant external backing.
Al-Shammari emphasizes that there is also a clear agreement on issues of restricting weapons and dismantling the economic, military, and political networks linked to armed factions, which constituted one of the most prominent drivers of rapprochement between the two sides.
Three files were opened simultaneously
. Barak arrived in Baghdad last Monday, days after al-Zaidi's government, with American support and backing from Shia political forces, launched three interconnected initiatives: restricting weapons to the state, pursuing networks of influence and finance linked to the factions, and initiating broad economic reforms.
Khalid Walid, a member of the Reconstruction and Development Coalition led by Mohammed Shia al-Sudani, says that the country is on the cusp of a period of significant changes and increasing pressures.
He added to Al-Mada that the American messages will not cease, and that the pressure policy will continue on numerous fronts, requiring political forces to demonstrate greater cohesion and understanding of the nature of the coming phase. Meanwhile, Prime Minister
al-Zaidi is seeking political backing
. He is also working to secure political and parliamentary support for his reform project. Ammar al-Hakim, leader of the Hikma Movement, revealed efforts to form what he described as a "longitudinal alliance" encompassing Shia, Sunni, and Kurdish forces.
Observers believe that al-Zaidi understands that the battle over weapons, money, and influence cannot be waged solely under the governmental umbrella, and that its success requires a broader political framework within parliament.
According to Mithal al-Alusi, a politician and former member of parliament, the United States has thrown its weight behind al-Zaidi's government and will not allow Iran to undermine it or armed factions to impose their will, as happened with previous governments.
He confirmed to Al-Mada that Washington and Barak's office have already begun developing plans to support the Iraqi government, the economy, and the electricity sector, but are awaiting "proof after proof" that Baghdad is distancing itself from Iranian influence and moving closer to a model of an institutionalized state.
Al-Zaydi is presumably bound by a condition imposed by the "coordination framework" before the latter assumed power, namely, that he is prevented from forming a parliamentary bloc or his own political movement.
Barak and his experience with the Iraqi file
: Ihsan al-Shammari points out that Tom Barak is not unfamiliar with the details of the Iraqi file; rather, he possesses accumulated experience in dealing with it.
He says that Barak previously played an influential role in shaping the Iraqi government by supporting Ali al-Zaydi and removing Nouri al-Maliki. He was also involved in managing aspects of the Kurdish crisis, which gives him a deep understanding of the complexities of the Iraqi scene.
He adds that what is happening today transcends the boundaries of traditional political debate, as it reflects a clear American decision that enjoys direct support from President Trump and the US State Department.
Al-Shammari believes that the existence of regional understandings that could lead to a lasting peace agreement between the United States and Iran would alleviate the obstacles facing Barak's mission, but he simultaneously rules out the possibility that all factions will readily comply without obtaining political and security guarantees.
He emphasizes that the future of the process remains contingent on the nature of the roadmap that will be presented for dismantling the armed groups, the accompanying timelines and guarantees, as well as the possibility that Iran might resort to policies that could directly or indirectly obstruct this process. Meanwhile,
factions
, including Asa'ib Ahl al-Haq and Kata'ib al-Imam Ali, have announced their readiness to disarm, confirming that the idea has been on the table since 2017, but has become more realistic under the current circumstances.
MP Kazem al-Shammari, from the Services Alliance led by Shibl al-Zaidi, stated that there is a "genuine response" from prominent factions, including Saraya al-Salam, Asa'ib Ahl al-Haq, and Kata'ib al-Imam Ali, to engage in the political process and hand over their weapons to the state.
In a television interview, he added that the Iranian side does not publicly oppose this step, but stressed that the issue of weapons handover is complex and cannot be resolved in a day or two.
Ending the "militias" and the relationship between Erbil and Baghdad are on the table for Masoud Barzani and Tom Barrack
Kurdish leader Masoud Barzani discussed with US President’s Special Envoy for Iraq and Syria, Tom Barak, on Tuesday, ways to enhance stability in Iraq and the Kurdistan Region. While Barak stressed the need for Baghdad to restrict weapons to the state and end the influence of “militias,” Barzani pointed to the importance of the federal government’s commitment to the principles of partnership, balance, and consensus within the framework of the constitution.
A statement from Barzani’s headquarters, received by Shafaq News Agency, stated that Masoud Barzani received Ambassador Tom Barrack at the Salahaddin resort. During the meeting, Barrack emphasized that Iraq and the region need stability, and that the Kurdistan Region plays an important and essential role in the present and future, while expressing his admiration for the development and progress witnessed in the Kurdistan Region, describing it as exemplary.
For his part, Barzani stressed that the Kurdistan Region has always been a stabilizing factor, and that it supports dialogue and diplomatic solutions to all of Iraq’s and the region’s problems, noting that the Kurdistan Region has never been part of the problems, but has always been unfairly harmed by the consequences of wars and conflicts in the region.
Barzani also stressed the need for the Middle East to move towards a stable situation that brings prosperity to the region's inhabitants.
In another part of the meeting, the importance of joint work and coordination between the Kurdistan Region and the new Iraqi government was highlighted.
The US envoy spoke about the need for stability in the Iraqi political system and the protection of the state’s role in controlling unofficial armed forces, reiterating his country’s support for the Iraqi federal prime minister in the process of restricting weapons to the state and ending the influence of militias, as stated in the statement.
Regarding the new Iraqi government, Barzani affirmed his support for Prime Minister Ali al-Zubaidi, stressing the need for everyone to learn from the mistakes of the past and to work on the basis of the principles of partnership, balance, and consensus, and within the framework of the constitution.
In another part of the meeting, views were exchanged on the situation in the region and its equations, and the two sides agreed to work together according to common priorities to enhance the stability of Iraq and the Kurdistan Region, and to build a long-term strategic friendship in economic aspects and to encourage investment.
An artistic delegation from the Kurdistan Region will leave for Baghdad tomorrow
An artistic delegation from the Kurdistan Region will leave for Baghdad on Wednesday to prepare a draft agreement on the ASIC system with their counterparts in the federal government.
It is the preparation of the final draft agreement of the ACCO system
According to Channel 8, the artistic delegation will meet with officials of the Border Gates Authority and a number of relevant departments, the delegation aims to prepare a draft final agreement and then the high-level delegation will meet with the Economic Council.
After the agreement, the companies of the region will enter the system
According to the information, after the signing of the agreement, the Kurdistan Regional Government companies will enter the system and like their counterparts in other regions, will benefit from its services.
Integration of customs identification
In addition to the ASIC system, the delegation will discuss the unification of customs identification and part of the agreement is on the unification of customs identification and after the signing of the border gates of Iraq and the Kurdistan Region with a single system, customs goods and supplies.
The implementation of the ASICOD system in the Kurdistan Region is one of the points of disagreement between the federal government and the Kurdistan Regional Government.
Customs: Advanced understandings reached to link the region's ports to ASYCUDA and cooperation with the Central Bank to combat money laundering
The General Authority of Customs announced that it has reached advanced understandings with the Kurdistan Region to unify the customs system and subject the region's border crossings to the ASYCUDA electronic system. This will be done in parallel with activating strict measures, in coordination with the Central Bank, to combat money laundering and tighten controls to prevent money laundering or inflated invoices.
The Director General of the General Authority of Customs, Thamer Qasim Dawood, stated that "there is high-level coordination and advanced understandings with the Kurdistan Region to implement the ASYCUDA system at all of the region's border crossings, based on directives from the Prime Minister and the Minister of Finance."
He added that "the four customs offices currently located between the region and the central and southern governorates are temporary measures to protect fairness among traders," emphasizing that these checkpoints will be removed as soon as the region commits to the electronic system and closes unofficial border crossings.
In a related context, Dawood stressed the pivotal role of the Authority in combating money laundering and the financing of terrorism by linking financial transfers to the pre- and final customs declaration in coordination with the Central Bank of Iraq. This has contributed to preventing the outflow of hard currency without the actual entry of goods and monitoring the inflation or depreciation of invoices.
He also addressed the issue of customs exemptions, stressing that it has been converted into a fully electronic system linking customs with the Investment and Industrial Development Authority to issue approvals within just 24 hours, noting that "the monitoring teams are conducting surprise field visits to prevent fraudulent projects and to confirm that there are no customs exceptions granted outside the applicable legal frameworks."
Iran Warns of Response After Deadly Israeli Strikes in Southern Lebanon
In a statement, Iran's central military command, Khatam al-Anbiya, accused Israel of continuing attacks in southern Lebanon and warned that further operations could trigger retaliation.
link kurdish news
Iran's military on Tuesday warned Israel of a potential response following Israeli strikes in southern Lebanon that killed four people, despite a recent agreement between Tehran and Washington aimed at ending the wider Middle East conflict, including hostilities in Lebanon.
In a statement, Iran's central military command, Khatam al-Anbiya, accused Israel of continuing attacks in southern Lebanon and warned that further operations could trigger retaliation.
"If the child-killing army of the Zionist regime does not put an end to its acts of aggression in southern Lebanon, it should await a harsh response from the powerful armed forces of the Islamic Republic of Iran," the command said.
The Iranian military also claimed that Israel had violated the Lebanese ceasefire 84 times since the US-Iran agreement was announced.
Meanwhile, Lebanese authorities reported that Israeli strikes killed four people in the country's south on Tuesday. According to Lebanon's state-run National News Agency (NNA), Israeli drone strikes targeted two vehicles in the town of Mayfadoun and another in nearby Shukeen, both located in the Nabatieh region. Several other people were reported wounded.
The Israeli military confirmed carrying out a strike in southern Lebanon, saying it had identified a "suspicious vehicle" near an area where Israeli troops were operating. It did not specify the exact location.
Israel also said its forces intercepted several rockets launched toward Israeli soldiers in southern Lebanon. In response, the Israeli Air Force struck and destroyed the launcher used in the attack.
Hezbollah had not issued any statements by Tuesday evening claiming responsibility for attacks against Israeli targets in southern Lebanon.
Although violence in Lebanon had decreased following Monday's announcement of the US-Iran agreement to end the broader regional conflict, Israeli military operations have continued. According to the NNA, at least five people have been killed in Israeli strikes in southern Lebanon since the deal was announced.
