WOTS MON JUL 19 21 Al-Kazemi's advisor: No change in the dollar exchange rate
SO you can see I didn't post since last Thursday there was really no big news. This post will catch you up.
These are the articles I discussed on the My FX Buddies Podcast dated July 19, 21
In the document.. the names of the Iraqi delegation that will go to Washington to discuss scheduling the American withdrawal from Iraq
and the delegation of the gentlemen listed later) to the United States of America, the Republic of Iraq for the Iraqi-American strategic dialogue, Washington, from the date of 7/11 to 24/7 except for travel days and at the expense of the influential parties regarding the name of each inspirer
First: Representatives of the Federal Government Dr. Fouad Husayn /
Minister of Foreign Affairs, Mr. Qassem Al-Araji /
National Security Adviser 3. Dr. Maha Daoud Elias /
Head of the National Investment Commission.
Mr. Nizar Al-Khair Allah / Senior Undersecretary of the Ministry of Foreign Affairs,
Dr. Jassim Abdul Aziz Hamdi Al-Mohammadi /
Technical Undersecretary for Environmental Affairs - Ministry of Health and Environment Prof. Dr. Abdul-Hussein Al-Hindawi / Advisor to the Prime Minister,
7. Lieutenant-General Abdul-Amir Kamel Abdullah Al-Shamry Deputy Commander of Joint Operations
8. Lieutenant-General Shihab Jahid Ali / Commander of the Air Force 1 Lieutenant-General Zaid Ibrahim / Commander of the Air Defense
10. Major General Ali Abdul Wahed Hadi / Legal Adviser to the Ministry of Defense
11. Major General P.S.C. Fadel Muhammad Al-Masuri / Director intelligence Military / Ministry of Defense.
12. Major General Saad Naim Abdullah, Head of the Planning Commission in the Joint Operations Command. Minister Plenipotentiary Ali Hilal Muhammad Amin Al-Hadi Head of the Department of Human Rights - Ministry of Foreign Affairs
14. Minister Plenipotentiary Mayada Abdullah Yassin / Associate Head of the Department of America - Ministry of Foreign Affairs.
15. Counselor Yarub Abdul-Jabbar Hatem Al-Anbaki /
Head of the North American Department - Ministry of Foreign Affairs Dr . Riyadh Abdul-Amir Hussein Al-Halfi / Director General of Public Health - Ministry of Health and Evidence.
18. Mr. Adel Khudair Abbas / Director General of the Department of Foreign Relations - Ministry of Commerce
20. Dr . Salah Hadi Saleh Al-Hashem / Head of the Department of Supervision and Scientific Evaluation - Ministry of Higher Education and Scientific Research
21. Dr . Hazem Baqer Taher / Director General of the Department of Missions and Cultural Relations - Ministry of Higher Education and Scientific Research
22. Mr. Naseer Aziz Jabbar / Director General of Studies - Ministry of Oil
23. Mr. Ammar Muhammad Kazem / Director General of the Department of Planning and Studies - Ministry of Electricity
24. Mr. Ali Radhi Thamer / Director General of the General Survey Authority - Ministry of Water Resources
What are the goals of Al-Kazemi's visit to Washington? A government official answers
Hussein Allawi, Advisor to the Prime Minister, announced, on Saturday, the objectives of Al-Kazemi's visit to the United States on July 26.
Allawi told the official news agency: "Prime Minister Mustafa Al-Kazemi's upcoming visit to the United States of America is very important and comes within the framework of the Iraqi-American strategic dialogue in its new phase, after three successful rounds of strategic dialogue culminated in reducing the American advisory presence within the international coalition mission from 5200 to 2500 Military Adviser, pointing out that "the sustainability of the war on ISIS remnants is carried out through intelligence partnership, and the continuation of the Iraqi weapons of American origin, in addition to the development of rehabilitation, organization and training programs for the Iraqi armed forces, and the Iraqi
intelligence services."
He pointed out that "the strength of the visit lies in the personality of the prime minister, who is one of the few leaders whom the democratic US administration has worked to receive at the White House to discuss the future of relations between the two countries," noting that "the US administration knows the importance of Iraq in the US strategy in the Middle East and leadership ability. The Iraqi government aims to attract support for national policies in order to run the country, face crises, and go to free and fair elections, as promised by the Prime Minister in the government curriculum.
Allawi added that "Al-Kazemi seeks to discuss the timetable for reducing the advisory forces after conducting the military-technical dialogue session between the Iraqi side and the American side, which was held in the capital, Baghdad recently," stressing that "setting the timetable means returning Iraqi-American relations to a stage before the fall of Mosul." 2014 and working under the umbrella of the Strategic Framework Agreement between the Republic of Iraq and the United States of America.
He stressed that "Al-Kazemi is working to transfer Iraqi-American relations from the military framework to a comprehensive framework that is based on the political-economic dimension and the implementation of the work of the joint committees in light of the six items of cooperation between Iraq and the United States within the strategic framework agreement in the political, security, economic, educational, technological and health fields." And the environment,” explaining that “the visit also aims to strengthen the Iraqi economy by working with the contact group and the International Monetary Fund on the white paper presented by the Al-Kazemi government to reform the Iraqi economy, in addition to meeting with economic institutions such as the International Monetary Fund, the World Bank, research centers, international institutions, businessmen and American compament's work in providing the electoral climate for the holding of elections to the legislative authority through the work of the Independent High Electoral Commission, especially after the Security Council resolution supporting the work of the Iraqi government and the Commission in conducting the elections and urging countries of the world and international institutions to contribute to monitoring the elections through International election observers," noting that "the visit will focus on the strategic partnership between Iraq and the US government, strengthening bilateral cooperation under the Strategic Framework Agreement, strengthening and developing partnership in education, health, culture, energy and climate initiatives, and cooperation between the Iraqi and US government in political, economic and security issues to include efforts joint efforts to ensure the permanent defeat of the terrorist organization ISIS.
Has Iraq benefited from the nationalization of banks since the ?1960s
link seems like more citizen education a history of their banks
The nationalization decision is scientifically explained as transferring the ownership of private banks to the public sector, so that the banks become public property of the people, without providing .compensation to their owners
Resolution No. 100 of 1964 to nationalize Iraqi banks came as a result of the desire of the Arab Socialist Union, the Nasserist organization that seized power in Iraq with a coup movement led by President Abdel Salam Aref .against the regime of Abdel Karim Qassem
And the Qatari Al-Jazeera channel stated in a report, that the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, explained that Dr. Khair El-Din Haseeb, Governor of the Central Bank of Iraq at the time, led, in coordination with the Egyptian government, the nationalization movement, and the national banking system and branches of foreign banks operating in the country were among those nationalized banks And a new entity was formed at that time called (the General Organization for Banks), within which the nationalized banks gradually .dissolved and their ownership was nationalized, including the Arab Bank, the Eastern Bank and others
For his part, Wahbi al-Khafaf, head of the Iraqi Bankers Syndicate, believes that the establishment of the General .Banking Corporation gave great control to the financial authority over the organization of banks' work
Al-Khaffaf added that the institution’s role is similar to that of the Central Bank of Iraq, but it was established to .strengthen it at that time, in addition to facing the objections that accompanied the nationalization decision
He pointed out that the stage of bank nationalization is the third of the 6 stages in the life of the banking sector, and it is the most important stage because the first two stages were run by the Ottoman occupation, whose banking management was characterized by imbalance, while the second stage was under the British administration, which monopolized profits and banking activity, and led This led to the failure of the expansion of banking services with the limited use of cash and the small size of the economy, and the banks were working exclusively for foreign trade, in addition to the fact that the monetary authority was not in the hands of the Iraqis, .so it was necessary to establish the General Corporation for Banks
Mazhar Saleh tells about the era of the seventies of the last century, which ended with a very large governmental commercial bank, "Al-Rafidain Bank", which included all nationalized banking entities and the effect of merging policies between the branches of the old banks
According to Saleh, Al-Rafidain Bank has become one of the largest commercial government banks in the Middle East in terms of capital capacity and has become the only monopoly for financing civil and governmental trade in Iraq, with the exception of financing the defense and government oil sectors, whose tasks in managing their .relations in financing foreign trade remain entrusted to the Central Bank of Iraq
As the expert in banking affairs, Dr. Salam Sumaisem, believes that the nationalization of banks directly eliminates .the quality of the product, freedom of production and the element of competition
Sumaisem indicated that the experience of nationalizing Iraqi banks in 1964 was a real disaster to the present .time, and undermined the Iraqi decision-maker from acquiring the confidence of the private investor
She added that Iraq could not erase the effects of nationalization because the local or foreign private sector had been greatly damaged by the nationalization decision, according to which property was confiscated and all its .details were transferred directly to the public sector
The decision to nationalize came without prior coordination, study and planning due to the nationalists’ control at that time of the reins of government and the Central Bank of Iraq, “as they only wanted to reproduce the failed .experiences of Egyptian President Gamal Abdel Nasser,” according to Sumaisem
Banking expert Aqil Al-Ansari states that the decision to nationalize Iraqi banks was purely political and did not .carry any economic or banking motive at the time of its issuance
The banking expert, Abdul Rahman Al-Sheikhly, says that the nationalization decision is better than the state of lawlessness experienced by the banking institution in the country today in the event that there is a rational .administration enjoyed by the Iraqi state and not the Ministry of Finance or the Central Bank of Iraq
Al-Sheikhly added that the state’s declared economic approach is the market economy approach, but today’s influential political entities exploited it and made us accept the restrictive totalitarian economic system because of its guarantees for the employees of this institution, and this will certainly reflect positively on its performance, and then this credibility will be more confident and attractive to investment. To ensure a discreet, risk-free .performance
And about the years after the decision to nationalize the banks, Saleh talks about the split of Al-Rasheed Bank from Al-Rafidain Bank in 1988 as a clean bank free from the burdens of the Iraq-Iran war and their debts that had accumulated on behalf of the Iraqi government and amounted to 88 billion dollars, as there were many failures .and defaults in payment and payment
Saleh adds that in 1990 the Central Bank of Iraq Law No. 64 of 1976 was amended in Chapter Five of it, which authorized private banks after all government banks were subject to the measures of Chapter VII of the Charter of .the United Nations due to Iraq's invasion of Kuwait
The story of the nationalization of government banks and the socialist banking sector, according to the financial advisor, ended due to the restrictions and resolutions of the UN Security Council on the Kuwait war, which obligated Saddam Hussein's political regime to liberalize the financial market to escape international restrictions, .by licensing commercial and Islamic private banks
During the period between 1990 and 2003, according to the amended Central Bank of Iraq Law No. 64 of 1976, more than 12 private banks were authorized, while their current number is nearly 70 banks practicing commercial, .Islamic and investment banking
The meeting ended .. OPEC + agreed to raise the production of Iraq and Kuwait and increase the share of the UAE
link
"Bloomberg" news agency reported on Sunday that the meeting of the OPEC + alliance agreed to increase the UAE's share to 3.5 million barrels per day, and to raise the production of Iraq and Kuwait by 150 thousand barrels per day, noting that the next meeting will be held in September 2021.
And she said in her report, that the OPEC + alliance agreed to increase the baseline for the UAE in the production cut agreement to 3.5 million barrels per day, instead of 3.17 million currently.
It was also agreed to increase the production of Iraq and Kuwait by 150 thousand barrels per day, to be based on the new baselines as of May 2022, in addition to extending the agreement to reduce production until the end of next year, and increase production as of next August.
The meeting of the energy ministers of the "OPEC +" alliance began a few minutes after one in the afternoon, Baghdad time, which is held via video technology, chaired by Saudi Energy Minister Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak.
A representative of one of the coalition countries had revealed to Bloomberg Agency minutes before the start of the meeting that the UAE expects to review its baseline for production cuts to 3.5 million barrels instead of 3.17 million barrels currently. The meeting is the Saudi-UAE dispute that has alarmed oil traders. The UAE saw that the way its share was calculated was unfair. It opposed an agreement agreed upon by the rest of the coalition countries, which would have added 400,000 barrels per day each month. The brief breakdown of talks sent crude oil to a 6-year high on the New York Stock Exchange, but prices have since fallen to trade just under $72 a barrel last Friday.
Earlier this week, there were signs of progress between Saudi Arabia and the UAE towards a measured agreement, which would have given the latter a more generous production quota. And then yesterday, Saturday, ministers from Saudi Arabia, the UAE, Kuwait, Bahrain and the Sultanate of Oman met via the Internet to discuss the matter, according to delegates of countries from the “OPEC +” alliance.
Economic reform laws
Oil Minister: Iraq is working to create a stable and balanced global energy economy
Oil Minister Ihsan Abdul-Jabbar thanked the members of the Organization of the Petroleum Exporting Countries and its allies for maintaining the stability of the oil market.
Abdul-Jabbar said, in a tweet on Twitter, "Thank you to all members of OPEC and its allies for their adherence to the unity of the position towards maintaining the stability of the oil market and the strength of prices."
He added that "Iraq is working to create a stable and balanced global energy economy."
ISIS claims responsibility for the suicide attack in Baghdad's Sadr City
Nashir News Agency, on its Telegram channel, reported that ISIS claimed the suicide attack in Sadr City in the Iraqi capital, Baghdad.
The death toll from the Sadr City bombing rises to 25 dead and 47 wounded: it may be a suicide
A security source reported on Monday that the death toll from the explosion that took place in a market in Sadr City has risen to 25 dead and 47 wounded, likely to be a suicide bombing.
The source told Shafaq News Agency, “The explosives expert arrived at the site of the explosion in Sadr City, and he suspects that the explosion was caused by a suicide bomber.”
He pointed out that “the toll rose to 25 dead and 47 wounded,” explaining that “the toll rose as a result of the presence of dead and wounded who were taken by civilians to hospitals and were not registered with the security forces.”
And earlier today, Monday, the Security Media Cell said, in a statement received by Shafaq News Agency, that a terrorist attack by detonating a homemade explosive device in Al-Wahailat market in Al-Sadr City, east of Baghdad, led to a number of casualties, among the dead and wounded.
Subsequently, the Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi, ordered the arrest of the commander of the land holding force in Al-Sadr City after the bombing.
The Security Media Cell said in a statement received by Shafaq News Agency, “The Commander-in-Chief of the Armed Forces ordered the detention of the commander of the first regiment in the Fourth Brigade of the Federal Police for arrest, the commander of the ground holding force, at the scene of the explosion that occurred in Al-Wahilat market in Sadr City, east of Baghdad.”
Al-Kazemi directed, according to the statement, to “open an investigation by the Baghdad Operations Command to find out the circumstances of the accident.”
Parliamentary Energy announces the transfer of the oil and gas law to the next session
Today, Monday, the Parliamentary Oil and Energy Committee determined the extent to which the oil and gas
law can be legislated in the current parliamentary session.
Committee member Sattar al-Jabri said, in a press statement, that "the oil and gas law is one of the strategic laws and it is difficult to resolve it in the current parliamentary session," stressing that "it will be transferred to the next parliamentary session."
Al-Jabri called for "making the law among the priorities of the next council, as it achieves social justice by distributing wealth to the people of the same country without discrimination of components or regions."
The Oil and Gas Law establishes a system for managing oil operations in Iraq, taking into consideration the
existing international agreements between the Republic of Iraq and other countries regarding the transportation of crude oil.
It also aims to define the basis for cooperation between the concerned ministries in the federal government, as well as to establish a base for coordination and consultation between the federal authorities and the
authorities of the oil-producing regions and governorates.
Al-Kazemi's advisor: No change in the dollar exchange rate
Mazhar Muhammad Salih, the economic advisor to Prime Minister Mustafa Al-Kazemi, stressed on Monday, not to rely on oil prices because they are unstable, in changing the dollar exchange rate against the Iraqi dinar.
Saleh told Shafaq News Agency, "The dollar exchange rate is fixed and there is no change in it, and any increase or decrease in the exchange rate in the market from the specified price is due to the process of demand for the currency."
He added, "If there is a change in the exchange rate, this is due to the improvement in oil prices in the long term," stressing that "oil prices are not fixed and may rise or fall during the coming period."
Saudi Arabia affirms its commitment to supporting Iraq's security and stability
Today, Monday, the President of the Republic, Barham Salih, stressed the importance of strengthening relations with the Kingdom of Saudi Arabia, in a way that achieves . the interests of the two brotherly peoples and the entire region
He said during a meeting with the Minister of Trade Saudi Arabia, Majid bronchopulmonary and his accompanying delegation, according to a statement of the Presidency of the Republic, that "there is the importance of developing relations between the two sides and enhance the prospects of cooperation in various fields through the
Coordinating Council of the joint between the two countries, and cooperation in economic, trade, agricultural, investment and oil sector in order to .achieve interests of the peoples of both countries Salih pointed to "Iraqi-Saudi brotherly relations, their development and the two countries' keenness to bridge the relationship between Iraq and the Gulf Cooperation Council, and to emphasize a secure, stable, sovereign Iraq and solid relations with its Arab depth and Islamic neighborhood is an indispensable element in consolidating ".security, stability, development and regional peace
For his part, Minister Al-Qasabi conveyed the greetings of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman and their congratulations on the occasion of Eid Al-Adha to the President of the Republic.
Al-Qasabi extended his deep thanks and appreciation to the President of the Republic, stressing the Kingdom's commitment to supporting the security and stability, strenghtening the bonds of cooperation between the two countries, and cooperating in the fields of economy, investment and trade to achieve the ".interests of the two brotherly peoples
files on the table to meet Al-Kazemi and the Saudi 5 ministerial delegation (the Words are out of order) 5 Files on the table to meet Al-Kazemi and the Saudi ministerial delegation
link
Today, Monday, Prime Minister Mustafa Al-Kazemi discussed with the Saudi delegation visiting Iraq, headed by Minister of Commerce Majid Al-Qasabi, a number of common files, .including economy and investment
A statement issued by his media office, and (Baghdad Today) received a copy of it said that "during the meeting, they discussed the development of bilateral relations between Baghdad and Riyadh, and ways to enhance cooperation in the fields of economy and investment, work to enhance and develop intra-trade, overcome obstacles and delays, and facilitate implementation procedures including It enhances bilateral cooperation at various levels and .fields
He added that "Al-Kazemi welcomed the guest minister, and informed him of conveying his greetings and congratulations on the occasion of Eid Al-Adha to the Custodian of the Two Holy Mosques and the Crown Prince , and he praised the level of relations between the two countries and keenness to strengthen them, and looking forward to more prospects of joint cooperation within the framework of the Iraqi-Saudi Coordination Council, and in a manner .that achieves the interests of The peoples of the two brotherly countries
For his part, the Saudi Minister of Commerce conveyed the greetings and congratulations of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, and Crown Prince Mohammed bin Salman to the Prime Minister, on the occasion of Eid al-Adha, and their .wishes for further progress and prosperity for the peoples of the two countries
Al-Yacoub on investing in Iraq: Do not delay, opportunities are available to others
The head of the Contractors Syndicate, Engineer Ahmed Al-Yaqoub, called on contractors to invest the opportunities offered by the Jordanian-Iraqi-Egyptian tripartite summit for the Jordanian contractor to enter the Iraqi market.
This came during a meeting held by the union with the head of the Iraqi Contractors Union, Ali Al-Sanafi, in the presence of a number of contractors, during which they discussed the export of contracting to Iraq based on the recommendations of the Jordanian-Iraqi-Egyptian tripartite summit.
Al-Yacoub added that there are many proposals to guarantee the rights of the Jordanian contractor, including "oil in exchange for construction" or to enter the Iraqi market under the umbrella of the Ministry of Public Works and Housing.
He pointed out that a number of Jordanian contractors entered the Iraqi market and achieved successes there, especially since there is an Iraqi welcome for the Jordanian contractor, and recognition of the Jordanian classification of contractors, and they will be treated as the Iraqi contractor upon entering to execute bids in Iraq.
Al-Yacoub stressed the need not to be late to take advantage of the available opportunity as it is available to others as it is available to the Jordanian contractor and to speed up competition in the implementation of projects in Iraq.
For his part, Al-Sanafi stressed the need to translate the brotherly relations between the two countries, and one of the forms of this is the Jordanian contractor's contribution to the implementation of projects in Iraq, similar to the Chinese and Turkish contractors.
He noted that the exceptional Iraqi oil revenues contribute to the reconstruction and reconstruction of the infrastructure in Iraq significantly.
He pointed out that 28 Jordanian engineering offices have projects in Iraq, and that a number of Jordanian contractors work there.
The Secretary of the Syndicate, Fouad Al-Duwairi, reviewed the most prominent points related to the contracting sector in the final statement of the tripartite summit, which focuses on the housing and infrastructure sector, energy projects, the electric link and the transport of crude oil between the three countries, the Jordanian-Iraqi Economic City project, and the establishment of partnerships between investors and contractors in the three countries. .
During the meeting, a discussion took place in which contractors reviewed their experiences in Iraq and their demands to facilitate entering the Iraqi market and entering into new projects there.
Below here is the daily WOTS "Word on the Street" report:
The exchange rates of the dollar in the local markets for Monday, July 19, 2021, according to the monitoring of specialists.
Baghdad - Stock Exchange of struggle الكف
148,250
....
The price is in most Baghdad exchanges
Buy
147,750
Sale
148,500
—————————————————-
Erbil - Bursa
148,125
——————————-
Basra - Bursa
148,250
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1433.7000 |  1484.5000 | 1455.5000 | 1455.5000 | 1455.5000 | -1.7000 | 20:00 |
| USD/VND | 23010.0000 | 23020.0000 | 22997.5400 | 22992.8200 | 22992.8200 | 6.1200 | 22:37 |
| USD/CNY |  6.4858 | 6.4878 | 6.4870 | 6.4770 | 6.4782 | 0.0076 | 05:18 |
| USD/KWD | 0.3002 | 0.3012 | 0.3005 | 0.3005 | 0.3005 | 0.0000 | 00:00 |
| GBP/USD | 1.3721 | 1.3722 | 1.3778 | 1.3702 | 1.3778 | -0.0035 | 05:18 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14548.0000 | 14577.0000 | 14564.0000 | 14486.0000 | 14491.0000 | 61.0000 | 05:17 |
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After the OPEC + agreement: oil prices fell about 1%
Oil prices fell on Monday, after the OPEC + group of producers overcame internal divisions and agreed to increase production, which raised some concerns about a crude surplus with the continued rise in Corona virus infections in several countries.
Brent crude was down 70 cents, or 0.96 percent, at $72.93 a barrel by 0510 GMT, after falling about 3 percent last week. US oil fell 0.73 or 1.01% to $70.84 a barrel, after falling 4% last week.
OPEC+ ministers agreed on Sunday to increase oil supplies from August to calm prices that rose earlier this month to their highest levels in nearly two and a half years as the global economy recovered from the COVID-19 pandemic.
The group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, agreed new production quotas from May 2022.
"Oil prices may continue to fluctuate in the coming weeks with concerns about a crude surplus as coronavirus infections continue to rise," Goldman Sachs said after the agreement.
And last year, the group reduced production by a record 10 million barrels per day, amid evaporation in demand, the development of the epidemic, which led to the collapse of prices with the decline in US oil prices at one point in the negative territory.
Alia Nassif: Kuwait continues to steal the wealth of the Iraqi people
Representative Alia Nassif confirmed that Kuwait continues to dig oil wells close to the Iraqi border and at a distance of less than 100 meters, indicating that the response to this theft must be through Iraq digging wells in the same area, but some traitors and bribes in the oil sector in Iraq They proceeded diagonally digging.
Nassif said today: “The video circulating on social media is clear evidence that Kuwait continues to dig oil wells close to the border and at a distance of less than a hundred meters, and the towers are clear and anyone can watch them. The provocation is one of the reasons that led to the disaster of the 1990 invasion.”
She added: “We still affirm that we are against the invasion of Kuwait by Saddam’s regime and condemn all practices of that regime, but if that regime had betrayed during its reign, like the one that occurs today in the oil sector, it would have ordered the execution of all traitors mercilessly. The traitor is executed, and these bribes and agents They legalized the diagonal drilling of joint oil wells, and today they live the life of kings and control the wealth of the people according to their mood.”
Nassif indicated: “The solution is in two directions: diplomatic and practical. The diplomat includes summoning the Kuwaiti ambassador and handing him a strongly worded protest note, or informing him that he is not wanted for his presence in Iraqi territory, and the practical solution is to deal reciprocity, through the Ministry of Oil digging wells in the same area. And frankly, I do not think that the Ministries of Foreign Affairs and Oil will take any action in this regard.”
And she continued, "Everyone in the hierarchy of power bears responsibility for this Kuwaiti aggression on Iraq's sovereignty and wealth, and we will not forget the blind implementation of international resolutions through which Iraq's lands and waters and the wealth of its people were stolen due to employment and complicity by unscrupulous people who do not deserve to be called Iraqis."
Nassif called on media professionals, intellectuals, activists and academics to raise their voices and pressure the government to move towards stopping Kuwait's theft of the Iraqi people's wealth, stressing the need for Iraqi jurists to file lawsuits in this regard.
Parliamentary Energy announces the transfer of the oil and gas law to the next session
Today, Monday, the Parliamentary Oil and Energy Committee determined the extent to which the oil and gas law can be legislated in the current parliamentary session.
Committee member Sattar al-Jabri said, in a press statement, that "the oil and gas law is one of the strategic laws and it is difficult to resolve it in the current parliamentary session," stressing that "it will be transferred to the next parliamentary session."
Al-Jabri called for "making the law among the priorities of the next council, as it achieves social justice by distributing wealth to the people of the same country without discrimination of components or regions."
The Oil and Gas Law establishes a system for managing oil operations in Iraq, taking into consideration the existing international agreements between the Republic of Iraq and other countries regarding the transportation of crude oil.
It also aims to define the basis for cooperation between the concerned ministries in the federal government, as well as to establish a base for coordination and consultation between the federal authorities and the authorities of the oil-producing regions and governorates.
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
7-18-2021 Intel/Newshound Guru sandyf "Iraq seeks to join the World Trade Organization - Iraq has been trying to join the WTO since 2004. One of biggest obstacles is the differences between Iraq and the Kurds over border policies. The WTO sees Iraq as a single entity not two, until there is a unified policy in Iraq, I wouldn't hold my breath on them getting membership anytime soon.
7-18-2021 Newshound/Intel Guru Mnt Goat I am hearing from the IMF and the CBI that they first want to ascend Iraq to the WTO prior to reinstating their currency. This gives them a wide range of trade opportunities they presently do not have and will need. Did I say any country needs to be in the WTO to trade their currency on FOREX? NO!...
7-18-2021 Newshound Guru Breitling Question: "Can you talk about the possibility of a global currency reset and if so how soon?" There is going to be no Global Currency Reset! I don't know who is putting that stuff out there but the United States doesn't have control over anybody's currency. We're competing against Russian's currency. We're competing against the EU and the euro. We're competing against the Wan. There is not group of 'elites' hiding behind a curtain somewhere that's getting together and conspiring on currencies...I know there are conspiracy theories out there but it just keeps coming up over and over and you're wasting your time. It's not real. There is not going to be a global currency reset.
7-18-2021 Newshound Guru Pimpy People are like, 'How do you know it's [the dinar] going to go up?' The United Nations/United councils says there's no reason for Iraq not to be reinstated back to their former rate of $3.22. They said this. They said it several times...
7-18-2021 Intel Guru Frank26 The Iraqi dinar monetary reform is going to effect many countries. Be careful where you go and get your information. It's not an "RV"...it's an "RI"...for their monetary reform they had to go through an RD (redenomination). They did that. They had to go through an RV. They did that with the Fab 4...that was the revalualization. Now they have to go through what's called an RI to reinstate their currency back into the international world...
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