Mechanism for publishing data on buying and selling foreign currencies
The Central Bank of Iraq explains the mechanism for publishing data on the sale and purchase of foreign currencies from the daily bulletin to the monthly report, which will include:
- Total enhancement of bank balances abroad.
- Settlements of electronic payments abroad.
- Cash sales.
The video for this My FX Buddies Blogpost is below here:
The bank confirms that this decision came in conjunction with the transition from the electronic platform mechanisms to the mechanisms for enhancing the balances of authorized Iraqi banks with correspondent banks, and that the process of enhancing banks does not reflect the daily sales of bank customers until the operations are actually realized.
It draws attention to the Central Bank of Iraq's possession of sufficient foreign reserves to meet all official requests for foreign currency, which enhances confidence in the national currency.
Noting that the report scheduled to be published next month will include details of external transfer operations
in terms of (amounts, the most prominent imported goods and materials, the most prominent countries from which they were imported.
Central Bank of Iraq
March 5, 2025
Economist: Lower oil prices may push Iraq to reduce exchange rate and cut expenses
Al-Marsoumi told Al-Furat News Agency that “the government may be forced to take austerity measures that include reducing public expenditures and increasing non-oil revenues,” noting that “the oil market is currently suffering from significant weakness, with a decline in oil policy that may include imposing fees on some countries such as China, Canada and Mexico, in addition to the possibility of canceling the OPEC Plus agreement, which stipulates reducing production by two million barrels per day.”
He added, "These expectations indicate further declines in oil prices in the coming weeks, which will negatively affect the Iraqi economy."
Prime Minister's Advisor: Investment Boosts Economic Growth, Keeps Iraq Away from Oil Price Fluctuations
The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Sunday, that foreign investment is an important step towards enhancing economic growth in Iraq, and isolating the country from the fluctuations of oil asset cycles and the problems of oil price fluctuations, explaining that linking the international economy to the Iraqi economy contributes to achieving sustainable economic growth, based on the indicators of the National Development Plan 2024-2028.
Salih said, in a statement to the official agency: "The influx of foreign investment to Iraq means the development of linking international economic activity to the country's productive economy, which enhances the environment that encourages investment thanks to what Iraq possesses in terms of material and human resources."
He added that this link contributes to enhancing economic growth in accordance with the development plan, which aims to diversify the national economy, stressing that foreign direct investment contributes to introducing advanced technology and improving organizational and administrative thinking, which leads to reducing unemployment, increasing job opportunities and improving the level of income in the country.
Salih pointed out that foreign investment plays a major role in developing infrastructure in many vital sectors such as electricity, energy, transportation, communications and information technology, and it also contributes to protecting the national economy from economic fluctuations that affect the oil sector.
Saleh concluded his statements by stressing that the benefits of foreign investment are clearly embodied when this investment is integrated into the local labor market, which maximizes the economic benefit and increases the employment of the local workforce, thus contributing to strengthening the movement of the national economy.
MP criticizes government's failure to adhere to financial management law
Member of the Iraqi Council of Representatives, Mohammed Anouz, criticized today, Monday, the delay in releasing financial allocations to the governorates, indicating that this delay negatively affects the completion of projects.
Anouz said in a statement to / Al-Maalouma / agency, “The government did not adhere to the Financial Management Law and the constitutional texts included in the budget.”
He added that "there is a focus on disbursing salaries on 1/12 instead of submitting the budget schedules on the specified date," noting that "the current government and previous governments did not submit the final accounts in the correct form."
He pointed out that "the failure to release financial allocations in the budget for the governorates, especially the center and south, is due to the lack of commitment to the Financial Management Law." End
The House of Representatives announces the agenda for Tuesday's session, which includes 6 paragraphs
The Iraqi Council of Representatives announced today, Monday, the agenda of its session scheduled for tomorrow, Tuesday, which will include six paragraphs for discussion and voting on.
The media department of the House of Representatives stated in a statement carried by Al-Mustaqillah that “tomorrow’s session will begin at exactly one o’clock in the afternoon,” noting that the agenda includes several important issues related to legislation and parliamentary discussions.
The session is expected to witness intensive discussions on the issues raised, amid anticipation of the outcome of the deliberations between the political blocs, especially in light of the current challenges facing the country.
agenda
Session No. (5)
Tuesday 11/1 11/March/2025
Department of affairs
Reading verses from the Holy Quran
Not the representatives
First: Voting on the draft law amending the fourth amendment to the Private Industrial Investment Law for the two sectors, Investment and Mixed Sectors Committee No. (20) of 1998 (Economy, Industry, Trade and Development Committee), (9) articles.
Second: Voting on a decision to recommend to the Ministry of Education to reinstate the trial system.
Third: Report of the interim parliamentary committee to follow up on the preservation of state property.
Fourth: The first reading of the draft law to cancel the law ratifying the agreement exempting holders of diplomatic and service passports from entry visas between the Government of the Republic of Iraq and the Government of the Republic of Cyprus No. 26 of 2023 (Foreign Relations Committee), (2) articles.
Fifth: First reading of the proposed second amendment law to the Mukhtars Law No. 13 of 2011. Legal Committee.
Committee of regions and governorates not organized in a region, Security and Defense Committee, Finance Committee,
(8) Article). His return in Nubia.
Sixth: Report and discussion of the second reading of the proposed law amending the fourth amendment to the Law on the Progression of Medical and Health Professionals No. (1) of 2000. (Health and Environment Committee), (13) articles.
The session begins at one o'clock in the afternoon
$100 billion annually.. Iraq's spending exceeds the 3 most powerful economies in the world
The head of the Iraq Future Foundation, Munar Al-Obaidi, revealed the rate of Iraq’s revenues and expenditures during the last ten years. While he explained that the country spends $100 billion annually, which is higher than the annual expenditure of three countries with strong economies, he indicated that the country’s problem is not with resources, but with the way they are managed.
Al-Obaidi said, "Over the course of ten years, Iraq's total revenues amounted to 1,028 trillion Iraqi dinars, with oil revenues accounting for 92% of the total revenues, while tax, customs and other sources contributed only 8%."
He added, "In contrast, Iraq spent 1,007 trillion Iraqi dinars during the same period, in addition to unliquidated loans ranging between 100-150 trillion dinars, which means that total spending exceeded 1,100 trillion Iraqi dinars, which is approximately equivalent to 1 trillion US dollars."
He continued, "Therefore, Iraq's annual spending rate becomes around $100 billion, which is higher than the spending rate of many developed countries, as the annual spending rate for each of the following reached: the United Arab Emirates: $65 billion, Malaysia: $82 billion, and Singapore: $77 billion."
He stressed that "although Iraq spends more than these countries, its GDP still depends almost entirely on the oil sector, compared to these countries that have succeeded in diversifying their economies to reach a GDP of $500 billion annually."
He pointed out that "the great paradox lies in the fact that these three countries do not possess the enormous natural resources that Iraq possesses, nor do they possess the same size of the human population, and yet they were able to build strong and prosperous economies with budgets less than what Iraq spends, while Iraq is still suffering under the burden of oil control, the rentier economy, disguised unemployment, and many economic problems that are growing and getting bigger year after year."
He pointed out that "the problem was never in the resources, but in the way they were managed and employed to achieve sustainable development," adding that "Iraq needs deep economic reforms that focus on diversifying the economy, improving spending efficiency, and combating financial waste to ensure a sustainable economic future."
He concluded his post with, “Iraq needs five words mentioned by a famous program about development a few days ago, which are (a stable government to improve development management). Any loss of any word in this phrase will lead to the collapse of the entire sentence.”
In Parallel to the Unsafe Environment, US Sanctions Weaken Its Investments in Iraq
Today, Monday (March 10, 2025), the economic expert, Abdul Rahman Al-Mashhadani, presented a diagnosis regarding the reasons for the weakness of American companies’ investment in Iraq, while he indicated that the most prominent of these reasons are the sanctions and the unsafe environment.
Al-Mashhadani said, in an interview with "Baghdad Today", that "there is a difference between the American administration and the private sector, as the American government cannot force companies to invest in Baghdad and pump tens of billions, even if it provides them with guarantees, because those companies follow a fixed principle based on avoiding troubled areas."
He added, "This factor is the main reason that prompts many companies not to direct their compass towards Baghdad, especially since Prime Minister Mohammed Shia al-Sudani's visit to Washington months ago, and his meeting with major international companies there, did not lead to tangible results, as none of those companies have come to Iraq yet."
Al-Mashhadani pointed out that "the unstable environment does not provide sufficient factors to attract foreign investments, especially since Iraq witnessed mutual bombing operations months ago, which increases the fears of major companies," stressing that "Baghdad is required to provide a stable investment climate that encourages companies to enter the Iraqi market."
He explained that "the US administration, since the era of President Donald Trump in 2018, has confirmed that any company dealing with Iran will be subject to sanctions, which prompted many major companies to comply with this decision and liquidate their businesses in Tehran, after comparing their economic interests in Iran and the United States, which led to the withdrawal of many of them."
Al-Mashhadani pointed out that "one of the problems that Iraq suffers from is the failure to prioritize the national interest over the interests of neighboring countries, at a time when countries are seeking to achieve their interests by finding paths of cooperation and coordination with the American administration or Western countries in general."
He stressed that "the upcoming US sanctions will be personal, and may target specific names and institutions, after the sanctions imposed on the Iraqi banking sector have been exhausted, as they have included 33 banks so far," indicating that "Washington has extensive information about dollar smuggling and money laundering operations, which may push it to follow different strategies in imposing sanctions during the coming period."
On Monday (March 3, 2025), Member of Parliament Ali Saadoun outlined Baghdad’s options to confront potential US sanctions, stressing the importance of political unity at this stage .
Saadoun said in an interview with Baghdad Today, "The general situation is alarming, especially with the ambiguity of the positions of the US administration headed by Donald Trump, which imposes multi-dimensional challenges on us," stressing that "closing ranks and unifying the political position has become necessary to support the government and control the pace, especially in light of the potential attack ."
He pointed out that "Baghdad faces many challenges, especially its connection to the US Federal Reserve in terms of the dollar, which makes the Iraqi economy vulnerable to the direct effects of any decisions issued by the US administration," indicating that "there are several pressure cards that Washington has, the most prominent of which is stopping the flow of the dollar, which may negatively affect everyone ."
Saadoun stressed that "unity of ranks and setting priorities can enhance Baghdad's options in the face of any upcoming sanctions storm," stressing that "Baghdad must maintain the principle of balance in its relations, and not be part of one axis against another, because Iraq's interests must come first ."
He continued, "Balanced relations with all regional and international parties will contribute to protecting the Iraqi economy and its interests, away from engaging in pivotal policies that may cost the country a heavy price," adding that "the coming situation carries many risks, but if political unity is present, the pressures will be less, and Baghdad needs high flexibility in dealing with regional variables to protect its interests, whether with Washington or with other regional capitals."
“Major achievement”: Iraq, BP ink deal to boost Kirkuk oil output
this is a big story over there today
On Monday, the Iraqi Ministry of Oil, represented by the North Oil Company (NOC) and the North Gas Company (NGC), signed a contract with British energy giant BP to develop the Kirkuk oil fields.
In a statement, Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul-Ghani called the contract signing for the development of NOC fields a “major achievement” for both the ministry and the company, especially after a period of stagnation.
The development and rehabilitation efforts will boost national production, and increase gas investment and production to support electricity generation, he noted, emphasizing that "the ministry is focused on maximizing the state's oil and gas resources, which will positively impact the federal budget's financial resources.”
The contract reportedly includes the rehabilitation and development of the four Kirkuk oil fields (the Baba and Avana domes, Bai Hassan, Jambur, and Khabbaz,) along with the rehabilitation and expansion of gas facilities at the NOC.
Last week, a delegation from BP visited the North Oil Company’s headquarters to finalize steps for rehabilitating the four fields.
The Iraqi government, in February, signed an agreement with the British company to develop Kirkuk’s fields and ensure “the optimal utilization of energy resources.”
Iraqi oil expert reveals how much BP will spend to develop Kirkuk fields
An Iraqi oil expert revealed on Monday that the British oil giant BP will spend about $25 billion over the life of the project to redevelop four oil and gas fields in Kirkuk, indicating that the contract will contribute to developing the North Gas Company and establishing solar-powered power stations.
Iraq is the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), after Saudi Arabia, and its average production reached more than four million barrels per day last month, in line with its OPEC quota.
Oil expert Ali Khalil told Shafaq News Agency, "Completing the final contract between the Iraqi Ministry of Oil and the British BP is an important step to increase the oil production of the North Oil Company, especially after the repercussions of the ISIS events in 2014 and the subsequent period of stagnation that affected the North Oil Company, which led to a decline in the company's overall production."
He added, "The company was exporting in the years from 2005 to 2010 about 500 thousand barrels per day from the Kirkuk fields to the Turkish port of Ceyhan, and the company's overall production ranged between 600 thousand and 725 thousand barrels per day."
Khalil continued, “Production between 2010 and 2014 declined by 400,000 to 500,000 barrels, and from 2014 to 2025, production declined by 250,000 to 325,000 barrels per day. The reason for this decline is the weak production of the wells and its decline by half, as some fields were producing around 100,000 barrels per day, and their production declined to 50,000, and in those that produce 50,000, production declined to 25,000 barrels.”
Khalil pointed out that "the British company will spend $25 billion as part of a profit-sharing agreement that will last for more than 25 years," indicating that "the agreement with BP is the second major agreement between Iraq and an international oil company."
He stressed that "the contract will enter into force in the coming days, and a part of this contract will be allocated to developing the North Gas Company, the largest Iraqi government gas company, headquartered in Kirkuk (250 km north of Kirkuk), which supplies power stations with gas for the purpose of producing electrical energy."
He explained that "the new partnership will be reflected in the rehabilitation of facilities in four oil fields and the development of natural gas, with the aim of supporting Iraq's local energy needs, as BP has deep knowledge of the Kirkuk fields, and will contribute to the process of increasing the oil production of the North Oil Company."
Under the terms of the contract, BP will boost crude oil production capacity from the four Kirkuk oil fields by about 150,000 barrels per day to raise the total capacity to at least 450,000 barrels per day within two to three years.
Under the profit-sharing model being discussed, the senior oil official said, “BP will be able to recover costs and start making profits once production increases beyond current levels.”
The oil major was a member of a consortium that discovered oil in Kirkuk in the 1920s and estimated that the area contained about nine billion barrels of recoverable oil.
BP and the Iraqi Oil Ministry signed a letter of intent in 2013 to study the development of Kirkuk, but the deal was suspended in 2014 after ISIS advanced into northern and western Iraq.
Today, Monday, the Iraqi Ministry of Oil, represented by the North Oil and North Gas companies, signed a contract to develop the four Kirkuk fields with the British company "BP".
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, said in a statement received by Shafaq News Agency, "The ministry is keen to maximize the state's oil and gas resources, which will positively reflect on maximizing the financial resources of the federal budget."
He added that "signing the contract to develop the fields of the North Oil Company is a great achievement, credited to the ministry and the company, especially after a period of cessation," noting that "the development and rehabilitation operations will add quantities to national production, in addition to investing in gas and increasing the quantities of its production to support the production of electrical energy."
The contract includes the rehabilitation and development of the four Kirkuk fields, in addition to the rehabilitation and expansion of gas facilities in the North Gas Company, according to government statements.
APIKUR Pushes for Agreement to Resume Kurdistan Oil Exports
Representatives from the Association of the Petroleum Industry of Kurdistan (APIKUR) member companies met with officials from the Government of Iraq (GoI) and the Kurdistan Regional Government (KRG) on March 6 to discuss the resumption of oil exports through the Iraq-Türkiye Pipeline.
APIKUR reiterated that its member companies are ready to restart exports immediately, provided their longstanding conditions are met. The companies insist on:
- Payment Surety: Formal sales/lifting agreements with clear terms, ensuring full and timely payment for both past and future oil exports. Payments for oil supplied between October 2022 and March 2023 must also be settled directly and transparently, without intermediaries.
- Respect for Production Sharing Contracts (PSCs): The legal and economic terms of existing PSCs must be upheld. APIKUR insists that the role of an independent technical consultant, required under the revised Budget Law, should be limited to verifying that oil sales invoices comply with PSC terms.
Full statement from APIKUR:
Representatives from Association of the Petroleum Industry of Kurdistan member companies attended a meeting with Government of Iraq and Kurdistan Regional Government officials to discuss restoration of oil exports through the Iraq-Türkiye Pipeline on March 6. APIKUR member companies conveyed their conditions required to resume oil exports. Additional meetings are required to finalize agreements.
APIKUR member companies (Companies) reiterate that they are ready to immediately resume exports through the Iraq-Türkiye Pipeline as soon as the conditions communicated repeatedly since November 2023 are met, that treats oil producers in Iraq's Kurdistan Region in a similar manner as oil producers in Federal Iraq. Fair and transparent agreements are necessary that include payment surety, transparent implementation of Iraq's budget law stipulations, and resolution of payments that are in arrears. The conditions are:
- Surety of payment for past and future oil exports. The Companies need formal sales/lifting agreements with the buyers of any exported oil, setting out terms and conditions and providing surety that Companies will be fully paid for the oil - even if in two tranches. There also needs to be agreements put in place that see Companies being paid for oil delivered but not paid for between October 2022 and March 2023. These payments need to be made directly and transparently to the Companies, without intermediaries or undue delays.
- Maintenance of Production Sharing Contracts commercial terms and economics. The Companies' existing contracts are legally valid and their terms must prevail. The economic model within the PSC's must be respected. The work scope of an independent technical consultant, required by the revised Budget Law, should be agreed by all parties and limited to confirming that the Companies' oil sales invoices are prepared in accordance with the PSCs, and there needs to be formal agreed dispute resolution provision within the confirmation process. APIKUR member companies have recommended consultants to KRG officials from recognized independent international firms.
"APIKUR member companies are ready to meet all stakeholders and finalize the agreements needed to resume oil exports," said Myles B. Caggins III, APIKUR spokesman. "We appreciate the emphasis Prime Minister Sudani and the U.S. Government have placed on keeping all parties focused on swiftly restoring oil exports through the Iraq-Türkiye Pipeline to strengthen Iraq's economy."
US urges Baghdad to ‘pay arrears’ owed to US oil companies working in Kurdistan Region
“The National Security Advisor urged the Iraqi government to work with the Kurdistan Regional Government to address remaining contract disputes and pay arrears owed to U.S. energy companies,” Waltz wrote in a post on X
The US called on Iraq to work with the Kurdistan Regional Government (KRG) to resolve “contract disputes” and “pay arrears” owed to American oil companies working in the Kurdistan Region’s oil fields. Erbil and Baghdad engaged in extensive talks to resume Kurdish oil exports two years after they were halted.
The request came during a Sunday phone call between Iraqi Prime Minister Mohammed Shia’ al-Sudani and US National Security Advisor Mike Waltz.
“The National Security Advisor urged the Iraqi government to work with the Kurdistan Regional Government to address remaining contract disputes and pay arrears owed to U.S. energy companies,” Waltz wrote in a post on X, adding he “encouraged” Sudani to welcome “more western and U.S. energy companies into Iraq’s oil and gas sectors.”
International oil producers in the Kurdistan Region on Thursday said they are ready to “immediately” resume oil exports through the Iraq-Turkey pipeline, as soon as the governments in Erbil and Baghdad meet their previously-communicated demands.
Representatives from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Thursday attended a meeting in Baghdad with officials from the Iraqi federal government and the Kurdistan Regional Government (KRG), aimed at restarting Kurdish oil exports following a two-year halt.
The oil producers said that they conveyed their conditions to the officials during the meeting, stressing that “additional meetings are required to finalize agreements.”
“Fair and transparent agreements are necessary that include payment surety, transparent implementation of Iraq’s budget law stipulations, and resolution of payments that are in arrears,” read a statement from APIKUR - an association of eight companies that together make up around 60 percent of the total amount of Kurdish oil production.
The companies said they need formal agreements which ensures that the producers will be “fully paid” for the oil, and also demanded agreements that ensure they are paid for “oil delivered but not paid for between October 2022 and March 2023.”
The Iraqi Parliament passed an amendment to the Federal Budget Law in early February, which obliges Baghdad to reimburse Erbil for the production and transportation cost of one barrel of oil at the average cost of production and transportation of the federal oil ministry.
The cost was previously valued at $6, which the IOCs repeatedly criticized as being way lower than their actual expenses. According to the amendments, the IOCs would now be paid $16 to in the first phase, before an independent technical consultant team is assigned to assess the extraction cost.
APIKUR said that the terms of their existing contracts and the economic models within them must be respected, adding that the work scope of the consultant “should be agreed by all parties,” noting that they have already recommended consultants to KRG officials.
Exports of the Kurdistan Region’s oil through the Turkish Ceyhan pipeline, where part of Kirkuk’s oil was also exported, were halted in March 2023 after Ankara lost a case against Baghdad in a Paris-based arbitration court. The case accused Ankara of breaching a 1973 agreement by allowing the KRG to start selling oil independent of Baghdad.
After the nearly two-year halt, Baghdad and Erbil eventually announced late February that they reached an agreement to resume the Region’s oil exports to the international market through Turkey’s Ceyhan port.
The halt in exports has dealt a major blow to Iraq and the Kurdistan Region's economy, with over $27 billion in lost revenue to date.
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Nechirvan Barzani discusses with Al-Kadhimi the Erbil-Baghdad dialogue to resolve outstanding problems
On Monday, the President of the Kurdistan Region, Nechirvan Barzani, discussed with the former Iraqi Prime Minister, Mustafa Al-Kadhimi, the dialogue between Erbil and Baghdad to resolve the outstanding problems, as well as the local and regional political situations.
The Kurdistan Region Presidency said in a statement received by Shafaq News Agency, "Barzani received former Iraqi Prime Minister Mustafa Al-Kadhimi, and discussed the latest political developments and general conditions in Iraq, the Kurdistan Region, and the region."
She added that "the two sides stressed the importance of enhancing coordination and cooperation between the political forces, parties and components of Iraq in facing challenges, protecting the country's security and stability and keeping it away from the complexities of the region."
She added, "The two sides also exchanged views on the dialogue between Erbil and Baghdad to resolve the problems between them, and agreed in this regard on the importance and necessity of continuing efforts and coordination between the two sides in order to reach an understanding and address the problems."
It is noteworthy that Kurdish leader Masoud Barzani met earlier today with former federal Prime Minister Mustafa Al-Kadhimi, and they discussed the latest developments in the political situation in Iraq.
Yesterday, Al-Kadhimi met with the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, in Erbil, and discussed the ongoing preparations for the upcoming elections.
Al-Kadhimi's tour in Erbil.. He visited senior leaders and discussed security, economy and politics
Former Prime Minister Mustafa Al-Kadhimi toured Erbil, where he met with the President of the Kurdistan Democratic Party, Masoud Barzani, the President of the Kurdistan Region, Nechirvan Barzani, and the Prime Minister, Masrour Barzani. Upon his arrival in Erbil, he was received by Hoshyar Zebari, a member of the Political Bureau of the Democratic Party. Al-Kadhimi discussed with senior leaders, according to statements from their offices, the latest developments in the relationship between Baghdad and Erbil, and the security, economic and political reality in all of Iraq, in addition to developments in the regional scene.
Statement of the office of the President of the Kurdistan Democratic Party, Masoud Barzani:
resident Masoud Barzani received, on Monday, March 10, 2025, Mr. Mustafa Al-Kadhimi, the former Iraqi Prime Minister. The meeting discussed the political and security situation in Iraq and the region, and highlighted the political process in Iraq and the relations between the Kurdistan Regional Government and the Iraqi federal government.
Statement of the Office of the President of the Kurdistan Region, Nechirvan Barzani:
His Excellency Mr. Nechirvan Barzani, President of the Kurdistan Region, met with Mr. Mustafa Al-Kadhimi, former Prime Minister of Iraq. The two sides discussed the latest political developments and the general situation in Iraq, the Kurdistan Region and the region. The two sides stressed the importance of enhancing coordination and cooperation between the political forces, parties and components of Iraq in facing challenges, protecting the security and stability of the country and keeping it away from the complexities of the region. In another aspect of the meeting, the two sides exchanged views on the dialogue between Erbil and Baghdad to resolve the problems between them. In this regard, they agreed on the importance and necessity of continuing efforts and coordination between the two sides in order to reach an understanding and address the problems.
Statement by the Office of the Prime Minister of the Kurdistan Regional Government Masrour Barzani:
Kurdistan Regional Government Prime Minister Masrour Barzani received former Federal Prime Minister Mustafa Al-Kadhimi on Sunday afternoon, March 9, 2025. During the meeting, the two sides discussed the general situation in Iraq and the region, in addition to discussing preparations related to the upcoming legislative elections. The discussions also witnessed an emphasis on the need to resolve the contentious issues between the Kurdistan Region and the federal government, in a way that guarantees the constitutional rights and financial dues of the region’s citizens.
A photo posted by Hoshyar Zebari, a member of the Political Bureau of the Democratic Party:
Former Iraqi Foreign Minister and member of the Kurdistan Democratic Party's Political Bureau, Hoshyar Zebari, also posted a photo on his personal account on the X platform, in which he showed his reception of former Prime Minister Mustafa Al-Kadhimi at the first stop of his tour in Erbil.
The Ministerial Council discusses the completion of the budget schedules and developments in the oil market locally and globally
According to the statement, the Council hosted the Minister of Interior to discuss the project to rehabilitate vehicle registration sites and issue driving licenses throughout Iraq, in addition to the smart signals project and the radar system in the capital, Baghdad, where the Minister explained that "these projects will contribute to improving the services provided to citizens, enhancing traffic flow, and reducing congestion." The Council supported the measures taken by the Ministry in this regard, and recommended submitting them to the Council of Ministers.
The Council also discussed with the Deputy Prime Minister and Minister of Oil the completion of the budget schedules, where the Minister provided a detailed explanation of the reality of the local and global oil market, in terms of prices and expected production quantities, expenses necessary to manage extraction and marketing operations, and purchase of petroleum derivatives, in addition to the expected revenues from the oil sector.
The statement continued, "The Council also hosted the Undersecretary of the Ministry of Electricity and officials in the Ministry, in addition to the Director General of the Trade Bank of Iraq and a number of heads of investment companies specialized in the energy sector, to review investment contracts and discuss the best ways to ensure the continuity of electricity supplies, especially with the approach of summer, while the Council hosted the head of the Central Organization for Standardization and Quality Control, to discuss the Ministry of Planning's request to postpone the implementation of the Iraqi specification for vehicles, and organize the process of issuing car import licenses until the end of this year.
The head of the agency explained that "the postponement will enable the relevant authorities to complete the required technical procedures, in line with the Consumer Protection Law and the Competition and Anti-Monopoly Law," and the council approved the request, setting December 31, 2025 as the final date for implementation.
US Secretary of State arrives in Saudi Arabia to meet Zelensky
The Saudi Al-Ekhbariya channel reported, on Monday evening, that US Secretary of State Marco Rubio arrived in the city of Jeddah, west of the Kingdom, hours after Ukrainian President Volodymyr Zelensky arrived at Jeddah Airport.
Zelensky is scheduled to meet with US Secretary of State Marco Rubio, according to Saudi media.
On March 8, Ukrainian Foreign Minister Andriy Sepah held phone talks with his US counterpart Marco Rubio regarding the upcoming meeting between officials from the two countries in Saudi Arabia on Monday.
"Ukraine wants to end the war, and American leadership is essential to ensure lasting peace," the Ukrainian minister added in a statement at the time.
On February 18, Riyadh hosted an unprecedented meeting between US Secretary of State Marco Rubio and his Russian counterpart Sergey Lavrov in Saudi Arabia regarding expected peace talks to end the Ukraine war.
Since February 24, 2022, Russia has been launching a military attack on its neighbor Ukraine, the end of which is conditional on Kiev abandoning its membership in Western military entities, which Kiev considers “interference” in its affairs.
The difference between saving and investing and starting to dedicate investing as a permanent financial behavior
0:01
First, we try to use the word investment
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Better because some people understand saving as
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Save the money and don't spend it on anything, maybe you
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You mean no investment
0:13
So of course there is no fixed percentage at all, it depends on
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Many things other than income depend on
0:22
Obligations. In a person who is committed, meaning he spends on
0:26
himself, in a person who spends on two families, in a person who has
0:30
I mean previous circumstances, so he pays off old obligations
0:34
So this is me, I don't support setting a fixed percentage, for example
0:38
The majority say 10% as a start, but I don't
0:42
I prefer a fixed percentage at all if 2% 3% 200 riyals
0:47
Anything, the most important thing is that you start with
0:49
Time is a type, meaning that it includes the behavior
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A type of behavior that you accustom yourself to continuously
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That you enter and invest with time, the behavior develops
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This and you achieve better results
U.S. Deploys Apache Helicopters Armed with Spike NLOS Missiles in Iraq: TWZ
In a military development, the United States has deployed AH-64 Apache attack helicopters armed with Israeli-made Spike NLOS (Non-Line of Sight) missiles in Iraq, marking the first operational use of this configuration in an active conflict zone.
The move represents a significant advancement in the U.S. Army’s air combat capabilities and underscores the evolving nature of aerial warfare in the region.
According to The War Zone (TWZ), a website specializing in military affairs, the deployment of these helicopters equipped with Spike NLOS missiles offers a crucial extension of operational reach and precision strike capabilities.
Unlike the traditional AGM-114 Hellfire and AGM-179 Joint Air-to-Ground Missiles (JAGM) typically used by Apache helicopters, the Spike NLOS provides a superior range of up to 32 kilometers (20 miles) and is guided by a multi-mode system, allowing for both autonomous and operator-controlled targeting.
Significance of the Deployment
This deployment follows a series of operational tests and exercises conducted by the U.S. Army’s 101st Combat Aviation Brigade (CAB).
The TWZ report also revealed that earlier this month, the unit made history by successfully piloting an AH-64 Apache helicopter with training Spike NLOS missiles, marking a pivotal moment in the integration of the missile system into the Apache’s onboard weapons platform.
Defense Visual Information Distribution Service (DVDIS) quoted Colonel Tyler Partridge, commander of the 101st CAB, highlighted the significance of the milestone, stating, “Operational testing of the Spike NLOS munitions with the AH-64E V6 onboard systems helps us build readiness for real-world employment and ultimately provides more combat power and capability to the ground force.”
The 101st CAB’s deployment in Iraq is part of its ongoing support for the Combined Joint Task Force - Operation Inherent Resolve (CJTF-OIR), the U.S.-led coalition dedicated to combatting remnants of the Daesh terror group in the region.
This advanced weapons integration is expected to significantly enhance the U.S. military’s operational effectiveness in targeting enemy positions from extended distances while minimizing exposure to anti-aircraft threats.
The Spike NLOS: A Game-Changing Weapon
The Spike NLOS missile, as written in the TWZ report, developed by Israeli defense manufacturer Rafael and adapted for U.S. use by Lockheed Martin, has been in service with the Israeli Defense Forces (IDF) since the 1980s. Over the decades, it has undergone multiple enhancements to improve accuracy, range, and targeting flexibility.
The report also indicated that unlike the Hellfire missile, which relies on laser guidance, the Spike NLOS features a “man-in-the-loop” (MITL) targeting system, allowing operators to manually control the missile throughout its flight using an infrared camera.
This capability enables pilots to adjust targeting mid-flight, strike moving targets with precision, and even switch to alternate targets if battlefield conditions change.
Chief Warrant Officer 3 Kevin Hopson, the pilot-in-command during the initial test flights, explained the complexities of integrating the new weapon system into the Apache’s arsenal for DVDIS.
“With the Hellfire missiles, you can fire and guide them with a laser. The Spike missiles, however, require a three-step process: alignment with the laser system, navigation system, and inertial system. Today, we used training missiles to test the launcher and weapons processor,” Hopson stated.
Warrant Officer Colton Francis, the co-pilot, emphasized the missile’s adaptability in combat situations. “The way I look at it, it’s a fire, observe, acquire, and attack system. If we spot another target of opportunity while the missile is in flight, we can adjust course and engage it instead,” he explained to DVDIS.
This dynamic targeting ability makes the Spike NLOS a critical asset for modern air combat operations, particularly in complex battle environments where rapid decision-making is essential.
Strategic Implications and Regional Impact
The deployment of Spike NLOS-equipped Apaches in Iraq is a response to evolving battlefield threats and the need for enhanced aerial strike capabilities.
According to the TWZ, the U.S. Army has been actively working to extend the operational range of its attack helicopters in light of emerging air defense challenges, as evidenced by previous tests conducted at Yuma Proving Ground, Arizona, Eglin Air Force Base, Florida, and during exercises in Germany.
The TWZ report has also written that the recent arrival of these helicopters in Erbil, a major hub for U.S. military operations in Iraq and the wider region, signals a broader strategy to bolster airpower in a region fraught with security challenges.
Reports indicate that the U.S. Air Force facilitated the deployment by transporting Apache helicopters from the 101st Airborne Division via C-17A Globemaster III cargo planes last month.
Observers suggest that the integration of Spike NLOS into U.S. Army operations aligns with broader efforts to counteract asymmetric threats, particularly from non-state actors and insurgent groups that often employ hit-and-run tactics or take refuge in fortified positions.
The missile’s ability to engage targets beyond visual range while keeping the launch platform concealed enhances survivability and operational effectiveness.
A Transformative Shift in Attack Aviation
Beyond its immediate implications in Iraq, the operational deployment of the Spike NLOS on U.S. Army Apaches represents a broader shift in the evolution of attack aviation.
The TWZ report suggests that the U.S. Marine Corps is reportedly exploring similar efforts to extend the lethal reach of its AH-1Z Viper attack helicopters, driven by lessons learned from ongoing conflicts, including the war in Ukraine, where advanced air defense systems have posed significant challenges to conventional airpower.
The recent integration of the Manned-Unmanned Teaming-Extended (MUMT-X) system on the deployed AH-64s further enhances battlefield awareness. This system, wrote TWZ, enables Apache crews to receive real-time intelligence and sensor feeds from uncrewed aerial vehicles (UAVs) such as the MQ-1C Gray Eagle, allowing for more precise and informed strike operations.
As the U.S. Army continues to refine its attack aviation capabilities, the deployment of Spike NLOS-equipped Apaches in Iraq marks a crucial step in enhancing long-range precision strike operations.
The ability to engage targets at unprecedented distances, coupled with advanced targeting flexibility, positions these helicopters as a formidable force in modern aerial warfare.
With military operations ongoing in Iraq and the wider Middle East, the U.S. Army’s decision to operationally field the Spike NLOS missile on Apaches reflects a broader strategic vision—one that prioritizes adaptability, technological superiority, and increased lethality in an ever-changing battlefield environment.
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