Americans helped us print the international dinar.. Al-Sudani’s advisor recalls the treasury’s positions
We will continue until Iraq is integrated into the world.
Today, Sunday, the Prime Minister's Advisor, Mazhar Mohammed Salih, announced the mechanisms of the US Treasury's support for Iraq since 2003, while he indicated the continuation of consultations with the US Treasury regarding combating money laundering.
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Saleh told the Iraqi News Agency (INA): "The cooperation and coordination between Iraq and the US Treasury extends back to the first years since the change of the former regime," indicating that "the Treasury played an important supporting role in supporting the Paris Club Agreement in 2004 concerned with writing off Iraq's debts called pre-1990 debts, and the presence of Treasury representatives in the Paris Club Agreement Secretariat helped ensure the writing off of 80% or more of the former regime's debts."
“The US Treasury succeeded in supporting infrastructure financing in Iraq through the conference held in the Spanish capital Madrid on October 23-24, 2003. Its primary goal was to mobilize financial support for the reconstruction of Iraq after the US-led invasion in 2003. Seventy countries and international organizations participated in the conference,” he added, explaining that “the conference was able to collect pledges amounting to about $33 billion, but a large part of these amounts was in the form of loans or technical support, and not all of it was direct financial aid.”
He explained that "the US Treasury contributed to establishing the Iraqi payments system in 2006 through a direct technical agreement with the Central Bank of Iraq to establish a wholesale payments system between the Central Bank on the one hand and the banks and the government in transferring funds and settling them electronically on the other hand, in addition to entering the era of settling bank checks electronically as well, which are matters in financial technology that are being introduced for the first time in our country," noting that "from the history of the important assistance provided by the Treasury, it has played an important role in replacing the local, fast-forgery edition of the dinar that was issued during the nineties siege in the largest campaign witnessed by Iraq between late 2003 and early 2004 with the international edition of the dinar, according to the highest international technical specifications."
He stressed that "since the signing of the Strategic Framework Agreement in 2008 until today, there have been continuous consultations between representatives of the financial and monetary authorities in our country and the treasury to cooperate in combating money laundering and the proceeds of crime and terrorism in a manner that achieves governance and compliance for our financial and banking system as well as its optimal integration into the global financial and economic climate."
Iraq, Lebanon and Syria stress the need to stop the war in the region
According to a statement by the Foreign Ministry, a copy of which was received by {Euphrates News}, the meeting discussed "current challenges and developments in the regional situation in the Middle East, where the ministers stressed the importance of enhancing cooperation and coordination to confront common challenges and achieve stability in the region."
The attendees also stressed the need to stop the war in the region, work to find solutions that enhance security and stability, and the need for the international community to move to stop the escalation and comply with international resolutions.
Foreign Minister and his Turkish counterpart stress the need to stop military operations and find peaceful solutions to crises
Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, and Turkish Foreign Minister, Hakan Fidan, stressed the necessity of stopping military operations and finding peaceful solutions to the current crises.
A statement by the Ministry of Foreign Affairs received by the Iraqi News Agency (INA) stated that "Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, met with Turkish Foreign Minister, Hakan Fidan, on the sidelines of the Arab-Islamic Summit held in the Saudi capital, Riyadh."
He added that "during the meeting, bilateral relations between Iraq and Turkey and ways to enhance joint cooperation in various fields were discussed, in a way that achieves the interests of the two friendly countries and peoples. Views were also exchanged on regional and international issues of common interest, and the importance of continuing dialogue and coordination to support security and stability in the region."
He continued: "The two sides discussed the current situations in Gaza and Lebanon, where they expressed their concern about the military escalation and its humanitarian effects on civilians, stressing the need to stop military operations and find peaceful solutions to the current crises."
The two ministers stressed, according to the statement, "the importance of intensifying international and regional efforts to alleviate the suffering of the Palestinian and Lebanese peoples, and working to achieve lasting stability in the region."
Bin Salman to Pezeshkian: I am honored to visit Iran as soon as possible
According to a statement by the Iranian presidency office, Masoud Pezeshkian apologized in a phone call with Saudi Crown Prince Mohammed bin Salman that he could not accept the Saudi monarch's invitation to participate in the urgent summit of the Organization of Islamic Cooperation due to the intensity of his executive responsibilities, stressing that Iranian First Vice President Mohammad Reza Aref would participate in this meeting.
Pezeshkian stressed that he has no doubt that this meeting will have effective and tangible results in stopping the crimes of the Zionist regime, the war and the bloodshed in Gaza and Lebanon.
The Iranian President also expressed his hope that, according to the will of the authorities of the Islamic Republic and the Kingdom of Saudi Arabia, relations between the two countries will be deepened and expanded in all fields.
In this phone call, the Saudi Crown Prince expressed his appreciation for the phone call made by the Iranian President, indicating his understanding of the Iranian President's position and wishing success to the brothers in Iran.
Bin Salman said: Iranian-Saudi relations are going through a historic turning point and I hope they will rise to the highest levels in all areas. We seize the opportunity of the Vice President's presence in Riyadh to discuss this matter with him.
Mohammed bin Salman reiterated his invitation for Pezeshkian to visit Saudi Arabia in response to the reciprocal invitation from the Iranian president, saying: “I am honored to visit Iran and I hope that the opportunity will be available as soon as possible.”
Al-Sudani and Czech Ambassador discuss developing relations with the European Union and stopping the war in Gaza and Lebanon
Al-Sudani's media office stated in a statement received by {Al-Furat News} that "the latter received the new Czech Ambassador to Iraq, Jan Schneidov, where he congratulated him on assuming his duties in Iraq. During the meeting, bilateral relations between the Czech Republic and Iraq were discussed, in addition to ways to develop them in various fields, in a way that achieves common interests."
Al-Sudani stressed the "importance of the European Union countries working to pressure to stop the war on Gaza and Lebanon," stressing the "need to deliver urgent relief and humanitarian aid to limit the serious repercussions caused by the war on the region and the world."
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Electronic payment in Iraq 
.. Successive government achievements from localizing salaries to enhancing financial integrity
https://www.youtube.com/watch?
Electronic payment in Iraq 🇮🇶 .. Successive government achievements from localizing salaries to enhancing financial integrity
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Iraq is witnessing a clear development in the field of
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electronic payment, as the government has developed plans to enhance
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financial transactions for citizens within
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its achievements in this field, the
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Iraqi government launched many initiatives to facilitate
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electronic payment, and there are special campaigns
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for awareness, including the Asfalk campaign, which aims
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to educate citizens about the importance of
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electronic payment. This campaign contributed to spreading the culture of
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electronic payment while enhancing financial security
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and simplifying daily financial services to become
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easier and more comfortable. The government's steps in this
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field reflect Her vision towards a comprehensive digital economy
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Where she completed the salary localization file, which was
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A significant achievement that eased the burden on
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employees, and let's not forget the fight against corruption that
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The Iraqi government is doing through the use of
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K-payment
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and cutting off all avenues in the face of money laundering operations
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Researcher: Mismanagement and politics negatively affected the value of the Iraqi dinar against the dollar
Iraqi affairs researcher Qasim Balshan confirmed today, Sunday, that mismanagement and politics have negatively affected the value of the Iraqi dinar against the dollar.
Balshan said in an interview with Al-Maalouma Agency that “the current mismanagement and politics have negatively affected the value of the Iraqi dinar against the dollar, which has made prices volatile and unstable in Iraq.”
He pointed out that "until this moment, no one specialized in the field of currencies and banking has been chosen to manage the Central Bank of Iraq well," noting that all those chosen belong to certain political blocs.
He added, “When the Central Bank of Iraq offers the dollar for sale, we notice that citizens are far from the issue and the sale is limited to some companies and banks.”
He pointed out that "the Iraqi money that comes from selling oil does not go directly to the Iraqi government, but rather to the US Federal Reserve, which is the one that handles these matters."
He added, "The political disputes and crises, the poor distribution of wealth, and the lack of real investment are what led to the deterioration of the Iraqi dinar against the dollar.
Parliamentary Finance Committee reveals a move to question the Governor of the Central Bank of Iraq: We are working to change him
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Member of the Parliamentary Finance Committee, Mohammed Nouri, revealed on Sunday that there is a move within the committee and the House of Representatives to question the Governor of the Central Bank of Iraq, Ali Al-Alaq, due to the lack of control over the stability of the dollar price and the dominance of private banks over the currency selling window.
Nouri told Shafaq News Agency, "There is a move within the Parliamentary Finance Committee and the House of Representatives to question the Governor of the Central Bank, Ali Al-Alaq, due to the existence of many files, most notably the bank's lack of control over the stability of the dollar exchange rate in the market."
He pointed out that "the other reason, which is considered one of the reasons for questioning the governor of the Central Bank, is the dominance of some private banks owned by foreign nationalities over the window for buying and selling currency and foreign transfers."
Nouri explained that "there are other works that we are doing through official letters and correspondence to change the governor of the Central Bank because he has exceeded the legal age and continues in the position while he should be referred to retirement."
On Monday, August 19, a member of the Parliamentary Finance Committee, Mustafa Al-Karawi, revealed that a request had been submitted to the Presidency of the Council of Representatives to set a date to question the Governor of the Central Bank of Iraq regarding several files, most notably the exchange rate of the dollar against the local currency.
Al-Karawi told Shafaq News Agency, "Members of the Parliamentary Finance Committee had previously submitted a request to the Speaker of the House of Representatives to question the Governor of the Central Bank, Ali Al-Alaq."
He added, "The interrogation relates to several files, the most important of which are the dollar exchange rate, its sale to travelers, the currency buying and selling window, financial transfers abroad, cash financing, US sanctions, and negotiations with the US Federal Reserve."
It is noteworthy that the Supreme Judicial Council in Iraq, on August 19, supported the State Council’s findings regarding the referral of the Central Bank Governor, Ali Al-Alaq, to retirement after reaching the legal age.
The Supreme Judicial Council said in an official document received by Shafaq News Agency that the same subject was studied by the Studies Committee in the Presidency of the Judicial Supervision Authority, and the same opinion of the State Council was reached in the two aforementioned decisions.
The House of Representatives had sent a letter to the Supreme Judicial Council inquiring about the judiciary’s opinion on the permissibility of the bank governor continuing in service after reaching the legal retirement age.
The State Council has decided the official position on whether or not the Central Bank Governor, Ali Al-Alaq, will continue in his position, confirming that he has exceeded the legal retirement age.
It was stated in correspondence between the State Council and Parliament that in response to the House of Representatives’ request to clarify the opinion of the State Council regarding the permissibility of the Governor of the Central Bank continuing in service after reaching the legal retirement age.
He pointed out that the legislator has explicitly stipulated that retirement upon reaching the legal age is an inevitable retirement by law unless exempted by a special provision, and since there is no special provision exempting the Governor of the Central Bank from the provisions of inevitable retirement upon reaching the legal age.
The State Council confirmed that the legal principle states: “Heads of independent bodies are subject to the legal age for retirement.”
Al-Tayf Islamic Bank opens a branch in Al-Muthanna as part of its plans to expand to all governorates
In a move that enhances financial inclusion and expands the scope of banking services in Iraq, Al-Tayf Islamic Bank opened a new branch in Al-Muthanna Governorate, as part of its strategy to spread across all governorates.Iraq And provide its advanced banking services to all citizens.
The opening of this new branch comes with several advanced features, most notably the “Al-Dhamen” account service that the bank recently launched, as this service guarantees the protection of sales transactions between the seller and the buyer, which enhances trust and security in financial transactions. Thanks to the digital services available through online applications, the bank aims to meet the needs of customers in a smooth and fast manner that meets their aspirations and saves time and effort.
With this expansion, Al-Tayf Islamic Bank seeks to be closer to its customers across the country, committed to providingServicesModern and comprehensive finance, and enhancing communication withthe societyTo meet his growing needs and make his financial life easier.
Al-Araji meets Araghchi at the beginning of his visit to Iran
Iraqi National Security Adviser Qasim al-Araji met with Iranian Foreign Minister Abbas Araqchi on Sunday evening (November 10, 2024), according to Iranian state media.
Earlier, Al-Araji arrived in Tehran at the head of a high-level security delegation, in the presence of the Kurdistan Region's Interior Minister, Rebar Ahmed.
Al-Araji arrived in Tehran under the direction of Prime Minister and Supreme Commander of the Armed Forces, Mohammed Shia al-Sudani.
This visit comes within the framework of following up on the security agreement between Iraq and Iran and reviewing regional developments, according to Iranian media.
No official position has been issued by Iran yet to clarify the nature of the visit that Al-Araji is making at this time.
Saudi Chief of Staff Visits Iran in Rare Move
Saudi Chief of Staff Lieutenant General Fayyadh al-Ruwaili met with Iranian officials in Tehran on Sunday as part of a rare visit by a senior Saudi military officer to Iran, the Islamic Republic News Agency (IRNA) reported.
The agency said that Al-Ruwaili spoke with his counterpart, Major General Mohammad Bagheri, at the headquarters of the Iranian armed forces in Tehran.
"Developing defense diplomacy and expanding bilateral cooperation are among the main topics of this meeting," IRNA added.
During the meeting, Major General Bagheri stressed "increasing the level of cooperation in defense fields" between the two countries, according to Fars News Agency.
"We want the Saudi Navy to participate in Iranian naval exercises next year with floating units or as observers," he added, according to the same source.
Iran resumed diplomatic relations with Saudi Arabia in March 2023 after a seven-year rupture, under an agreement brokered by China.
But military relations have remained rare, with the two countries supporting opposing camps in the region, particularly in Syria and Yemen.
According to the official Islamic Republic News Agency, Baqeri announced in late November 2023 that his country was “ready to strengthen military relations” with Riyadh, during a phone call with Saudi Defense Minister Prince Khalid bin Salman.
In October, Saudi Arabia announced that it had conducted joint military exercises with the navies of Iran and other countries in the Arabian Sea.
Iran's Tasnim news agency reported that Iraqi National Security Adviser Qassim al-Araji is also expected to arrive in Tehran to hold meetings with senior Iranian officials.
Through applications... the Association of Private Banks encourages the acquisition of electronic cards
The advisor to the Association of Private Banks, Abdul Rahman Al-Shaikhli, explained that “the government program stressed the necessity of economic and financial reform in the country, and the measures taken in this regard are ongoing.”
Al-Sheikhly revealed in a statement followed by (Al-Masry - Today, Sunday) the intentions to grant some privileges such as gifts or competitions and a reduction in currency payment fees to encourage the purchase of the electronic card.
He said, “The country is witnessing a revolution in the field of banking technologies and electronic payment, and all citizens are supposed to have a bank account that can be dealt with through a mobile phone or any other means.”
He pointed out that "some citizens still prefer to deal in direct cash."
Sabah Sobhi: The first reading of the draft oil export law will take place next week
A member of the Iraqi parliament's oil and gas committee confirmed that the first and second readings of the oil export bill are scheduled to take place in the Iraqi parliament next week, adding that there is agreement with the Shiite parties on certain conditions for passing the oil export bill.
“The main obstacle to oil exports was Article 12 of Budget Law No. 13 of 2023, as the second paragraph of that article, paragraph “c,” stipulated that the issue of production and transportation equals the cost of production and transportation in the federal Ministry of Oil. This means that all oil production and transportation depends on the federal Ministry of Oil’s estimates for all Iraqi oil fields. According to the federal Ministry of Oil, the cost of extracting oil in Iraq is about 9,000 to 9,000 dinars, while the cost of transportation is 1.2 cents, and oil companies are dealt with on this basis,” Sabah Subhi, a member of the Oil and Gas Committee in the Iraqi parliament, told Kurdistan 24.
He added, "Oil production in Kurdistan has been ongoing since 2007 and was the first stage of the export process, so an agreement was reached with the companies based on the government's and companies' share of the revenues, but since 2014 there have been attempts to stop the export of Kurdistan's oil."
Sabah Sobhi pointed out that "international security developments show that the Arabian Gulf is in danger due to tensions in the region, and the danger to Iraq in this case lies in the closure of the road to oil exports," adding that "Iraq only has one port for oil exports, which is the port of Basra, and 95% of Iraq's economy depends on oil."
He continued, "Iraq exports about 3.5 million barrels of oil per day. If we consider the price of a barrel at $70, the total amount of sales will be an imaginary amount. Therefore, if Iraq is unable to export its oil, a disaster will occur, since Iraq's economy depends on oil by 95%."
He added, "Iraq is looking for another port to export its oil, and it has the Haditha crossing, through which Iraq has been trying to build an oil pipeline for years, and the cost of the project is estimated at two billion dollars."
Sabah Sobhi stressed that "there is great pressure on the federal government to solve the oil problem before the arrival of winter in Europe, because there are many countries suffering from an energy crisis."
He explained that "the first and second readings of the oil export project will take place on Sunday and Monday of next week."
A member of the parliamentary oil and gas committee said, “The State Administration Coalition held a meeting on the issue of oil exports and everyone agreed to amend the project.” He added, “I believe that the Shiite parties will agree to the project on condition that some of the project’s articles related to providing the governorates’ budgets and the issue of oil revenues are amended, in addition to some strategic projects for some of the central and southern governorates.”
MP explains reasons for delaying parliament sessions
MP Mohammed Al-Baldawi, a member of the House of Representatives for the Sadiqoun parliamentary bloc, attributed, on Sunday, the reason for the delay in holding the House of Representatives sessions to the existence of two problems, stressing that there is an effort to resolve them and the sessions will be held during the current week.
Al-Baldawi said in a statement to Al-Maalouma Agency, “The delay in holding the sessions of the House of Representatives after electing a new Speaker of the House is due to two problems. The first is related to trying to solve the problem that It occurred in the previous sessions after the guards of the second deputy attacked MP Haibat al-Halbousi, which still constitutes an obstacle to the presidency of the House to set a new session.” He indicated that "the political blocs are making intensive efforts to solve the problem between the Democratic and Progress blocs."
He added, "The second problem is related to the agreement of the political blocs to determine the items on the agenda so that the parliament can pass the remaining laws, and this requires multiple meetings of the heads of the political blocs," noting that " the agreement to determine the next session during the current week."
It is noteworthy that the State Administration Coalition held a meeting last Wednesday, which stressed the importance of extending the second legislative term of the House of Representatives, in light of the circumstances of the stage and the challenges that Iraq is going through.
Al-Sudani in Saudi Arabia tomorrow: A speech at the Riyadh Summit and an attempt to limit the “expansion of the conflict”
An informed political source reported that Iraqi Prime Minister Mohammed Shia al-Sudani will head to the Saudi capital, Riyadh, tomorrow, Monday, November 11, to participate in the Arab-Islamic summit.
The source told Shafaq News Agency, "The participation of the Iraqi delegation in the extraordinary joint Arab-Islamic summit, in Riyadh, will be headed by Al-Sudani and will include Foreign Minister Fuad Hussein, and Al-Sudani will deliver a speech at the meeting."
He pointed out that "any developments will take place after the meeting, such as side meetings with the leaders of the countries participating in the meeting."
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein arrived in the Saudi capital, Riyadh, on Saturday evening to participate in the ministerial meeting of the extraordinary joint Arab-Islamic summit.
A statement by the Foreign Ministry said that Minister Hussein began his visit by meeting with the Palestinian Prime Minister and Foreign Minister, Mohammed Mustafa, where they discussed ways to enhance bilateral cooperation between the two countries.
Leaders of Arab and Islamic countries have begun arriving in Saudi Arabia in preparation for a summit to be held tomorrow, Monday (November 11), to discuss the war in Gaza and Lebanon and developments in the region, according to the Saudi Press Agency.
In late October, the Saudi Foreign Ministry announced the summit during the first meeting of an international coalition established to advance a two-state solution to end the Israeli-Palestinian conflict.
The summit is being held to "discuss the continued Israeli aggression on the Palestinian territories and Lebanon and developments in the region," according to what the Saudi Press Agency reported on Sunday.
It comes as an "extension of the joint Arab-Islamic summit held in Riyadh on November 11, 2023" at the initiative of the Arab League (Cairo) and the Organization of Islamic Cooperation (Jeddah).
Saudi Al-Ekhbariya TV broadcast footage of the arrival of Nigerian President Bola Tinubu and Lebanese Prime Minister Najib Mikati.
this was in Iraq's news education for the citizens
Financial assets hit new record highs ahead of 2024
link this is from Iraq's news
The year 2024 witnessed a large number of financial assets recording new record levels that they had never seen before, especially with the shifts in global monetary policy and developments in the political and geopolitical situation across different regions of the world.
This year, gold, Bitcoin, the US stock market, European indices, and technology stocks, especially the chip and semiconductor giant Nvidia, have all reached record levels never seen before.
These increases provided distinct investment opportunities for all investors and small speculators who benefited from the possibility of trading these assets through the best licensed trading companies in Iraq 2024 .
Geopolitical concerns and political developments
Despite the different factors that pushed these assets to record levels, there are one or two factors that are common in pushing them to record these increases. For example, geopolitical developments in the Middle East and fears of an escalation of the war between Israel and Iran supported the rise of gold. On the other hand, the boom in artificial intelligence was one of the most important factors that supported the shares of the technology giant Nvidia, which in turn boosted the US stock market. At the same time, the uncertainty that preceded the US elections, especially with the expansion of fears of riots in the event that Trump loses the elections, similar to what happened during the US presidential elections that took place in 2000, supported the demand for gold.
Monetary policy shift of central banks
At the same time, there are stable factors that support all of these assets, the most important of which are developments in monetary policy and the shift of global central banks from financial tightening based on raising interest rates from the beginning of 2022 until the middle of this year. The central bank of Australia, Canada, the European Central Bank, the Bank of England, and the Federal Reserve have all begun to cut interest rates as global inflation rates decline. In this regard, the Federal Reserve cut interest rates in November for the second time this year by 25 basis points after cutting interest rates for the first time last September by 50 basis points amid expectations of a third cut in December by another 25 basis points, bringing the total expected interest rate cuts in 2024 to about 1 percent. The Bank of England cut interest rates twice this year by 25 basis points each time, while the European Central Bank preceded all banks after approving three interest rate cuts amid expectations of an additional cut in the last months of the year. Cutting interest rates supports financial assets by withdrawing savings from banks with the decline in the interest they generate, as they are pumped into other assets such as the stock market with the aim of targeting a higher return, or gold, which is a store of value and does not bring interest, but it is a safe asset that investors resort to in times of uncertainty and for the purpose of hedging.
Is the beginning of the year marathon over?
There are currently some questions about whether what can be called the market bull marathon is over, especially for those who missed the start of the big rise. Gold has been accelerating since August of last year, while US indices have accelerated at the beginning of this year in what is known in the financial markets as the "Santa Rally". In this context, it can be answered that the markets, despite the possibility of recording some downward corrections, the factors for continuing the rise already seem to be present, especially with Donald Trump clinching the presidency, amid expectations of adopting financial policies that may maintain the momentum of the index market's rise. At the same time, central banks have not finished their stimulus policy, which supports the rise of most financial assets, especially the stock market and some assets that enhance the value of the risk spirit.
NVIDIA is the world's largest company by market value
The upside potential in the stock market looks promising, especially with some companies hitting record highs that seem unlikely to stop in the medium term. For example, Nvidia shares have seen exceptional growth this year, a growth that is expected to maintain its accelerating momentum amid estimates of the company’s ability to maintain an accelerated growth rate in graphics processing units. Its market value has tripled to briefly surpass Apple as the most valuable company in the world, with a market value of about $3.53 trillion, ahead of the technology giant Apple. Its net income rose from about $2.3 billion in the first half of 2022 to about $31.5 billion for the same period in 2024. Microsoft ranked third with a market value estimated at about $3.19 trillion, followed by Alphabet with a market value of about $2.04 trillion. Meanwhile, Apple’s stock was affected by downward pressure after Warren Buffett-led Berkshire Hathaway announced a major sale of part of its stake in the company.
The Trump administration is expected to take a tougher approach to enforcing sanctions on Iranian oil, potentially cutting Tehran’s crude exports and leaving the United States looking to producers with spare capacity to make up the shortfall, according to analysts at RBC Capital Markets.
“We believe we will see a tough implementation of secondary sanctions that will significantly reduce imports from Iran,” analysts at the investment bank, including Helima Croft, wrote in a research note, leaving foreign entities with a choice between doing business with Tehran or accessing the U.S. financial system, Bloomberg reported Friday.
Senior officials from the previous Trump administration said a “more coordinated” approach to sanctions enforcement could take as much as 1 million barrels a day of Iranian oil off the market within six months, Bloomberg reported.
China buys Iranian crude
Trump’s victory in the White House will impose more sanctions on Iranian oil, even trying to “zero” its flows to the markets completely, “but this requires the cooperation of China, the number one buyer of Iranian crude,” according to Joseph McMonigle, Secretary General of the International Energy Forum (IEF), in an interview with Asharq this week.
China's independent refiners have been relying entirely on cheaper crude oil from sanctioned regimes in recent years, and have emerged as particularly important buyers of Iranian oil.
According to official Chinese customs data, China has not imported any Iranian oil since mid-2022, but in reality, China has imported an average of 1.2 million barrels per day of crude oil from Iran since the beginning of 2023, according to data compiled by Kpler.
Much of this flow is passed on as cargoes from elsewhere, such as Malaysia, where these shipments are typically transferred from one tanker to another, allowing ships to return to Iran for more crude.
RBC Capital Markets analysts expect the Trump administration to tighten controls on oil transfers between tankers and countries’ ability to so-called launder Iranian oil.
But Tehran has expressed hope that Washington will review its previous policies, with Iranian Foreign Ministry spokesman Esmail Baghaei saying on Thursday that Donald Trump’s victory is “an opportunity to review and reconsider previous incorrect approaches,” stressing that “what is important for Iran and the criterion for evaluation is the performance of the US administration.”
New sanctions
“The current US administration has not imposed any sanctions,” said Amrita Sen, research director at consultancy Energy Aspects. “In fact, it has encouraged buying Iranian oil because that’s what keeps prices down. Just imposing sanctions on Iran would be enough to take a million barrels off the market.”
The United States announced last October that it was imposing new sanctions on Iran’s oil and petrochemical sectors in response to a ballistic missile attack launched by Iran on Israel earlier that month. US Treasury Secretary Janet Yellen said at the time that the United States “will not hesitate to take further action to hold Iran accountable.”
Trump sent the Sudanese the green light before the call.. Government advisor
Explanation and detail from Mulla Jiyad
Subhan Mulla Jiyad, the prime minister’s political advisor, said that Iraq does not have “positive memories” of Trump’s first term, while expressing the Iraqi government’s hopes that the new US president will provide solutions to the region’s crises, and its readiness to reach an understanding with him regarding withdrawal from Iraq, stressing that the door to investment is open to American companies and that Al-Sudani wants to go beyond security relations with Washington.
Subhan Mulla Jiyad, in an interview with the media figure Haider Zowair, followed by the 964 network :
The Iraqi government is ready to reach an understanding with the new White House administration, to proceed with previous understandings with the Biden administration regarding completing the US withdrawal from Iraq and transforming relations with the countries of the international coalition into bilateral relations.
The phone call between Al-Sudani and Trump clarified the general outlines of the relationship between the two countries. The call was given a green light from America, then the congratulations took place, and after that the Prime Minister reviewed his aspirations to take the relations beyond security and military cooperation towards economic, technological and other relations, as the Iraqi people want to see the other face of America.
Trump has expressed his cooperation with the Prime Minister's aspirations, and we hope that there will be a meeting between them soon, as the world is witnessing a major transformation and some European countries have begun preparing the stage to deal with Trump's policies early.
We in Iraq do not have many positive memories of Trump's policies. He did not even visit Iraq officially, and the only visit to Ain al-Assad base was not a normal visit, although Abadi and Al-Kadhimi visited him in the White House.
Trump's first phase was not good, despite the victory over ISIS, but we look with optimism at Trump's arrival because our relations with the United States are formally framed, and we want to activate the strategic agreement with it.
The State Administration Alliance, the political incubator of the current government, is absorbing the current changes in the global scene and is trying to interact with them according to the direction of Iraq’s interests. We hope that Trump’s arrival will bring solutions to the crises in the region.
Iraq has long been open to US companies, some of whom are investing in the energy sector, but only weakly, although they declined to participate in the last two licensing rounds despite a one-month extension.
The United States wants from Iraq, in addition to investments, the security, military and political aspects, as the region is boiling and suffering from poor security conditions, not only as a region, but also in the relations between countries, and therefore the Prime Minister called for a regional security conference.
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