Erbil and Washington agree on the need to resume the region's oil exports.
During the phone call, the two sides agreed, according to a statement from the Kurdistan Regional Government, on the importance of strengthening and consolidating the bonds of friendship and alliance between the Kurdistan Region and the United States.
In another part of the phone call, the Prime Minister and the US Secretary of State agreed on the necessity and importance of resuming the export of Kurdistan Region oil through the Iraq-Turkey pipeline, according to the statement.
For his part, the US Secretary of State expressed the United States' deep appreciation for the role played by the Kurdistan Region as a safe haven for all ethnic and religious components, praising its essential contribution to maintaining the stability and security of the region.
The two sides also agreed on the importance of maintaining consultation and coordination between them, to preserve common interests.
News for THU APR 10 25
US official: We have huge opportunities in Iraq
The Vice President of the US Chamber of Commerce, Steve Lutes, announced that "his country's companies in the energy and healthcare sectors will visit Baghdad in the coming period," stressing that "there are tremendous opportunities in Iraq."
A US delegation arrived in Iraq last Monday, the largest US trade mission ever, comprising representatives from 60 companies across various sectors.
In a statement seen by Al-Masry Al-Youm on Thursday, Lutz said, "The American delegation listened to a speech by Prime Minister Mohammed Shia al-Sudani regarding relations between Iraq and the United States and ways to develop them."
He added, "The US economic delegation signed several important agreements with Iraq, some of which were attended by the Iraqi Prime Minister, and this was in coordination with the US Treasury Department."
Lutz noted that "this visit will be a new spark for developing relations between American economic and business companies and Iraq, especially given the many investment opportunities we seek to capitalize on in light of the long-term partnership with our Iraqi partners."
What did Google ask of Al-Sudani? A major meeting with the Americans, but Musk's representative did not attend.
Details from the government spokesman
Bassem al-Awadi, the Iraqi government spokesman, revealed on Wednesday the details of the memoranda of understanding signed between Iraq and the US side, confirming the signing of two memoranda in the field of energy and one with the American Chamber of Commerce. He pointed out that the meeting included a large delegation of American companies, including Google, whose representative spoke with the Prime Minister about the company’s readiness to operate in Iraq after preparing the appropriate groundwork and amending some legislation to bring in devices and equipment related to digitization and artificial intelligence. He pointed out that a representative from SpaceX, a space science company, was supposed to attend, without explaining the reason for not attending.
The US delegation arrived in Iraq two days ago and was received by the Prime Minister. Initially, there was a public meeting with most of the companies. Three basic memoranda of understanding were subsequently signed, but they do not cover the entirety of the delegation's visit. It will remain in Iraq for a period of time and meet with a number of ministries and sectors. There is a possibility it will travel to other governorates.
The first memorandum of understanding is to produce and generate 24,000 megawatts with GE Vernova. Our current production rate is 27,000 megawatts, meaning we will produce double that number. God willing, this will be a qualitative leap, but it will take time. There is also an upcoming agreement with Siemens to produce 10,000 megawatts, in addition to agreements with other companies that will enter service by the end of this year.
The second memorandum of understanding is with UGT Renewables, also in the energy sector. However, this company is more technical and will focus on transmission and distribution lines. We have approximately 1,000 kilometers of them. The company will establish the infrastructure. Our most important problem is the distribution problem we are suffering from.
The third memorandum of understanding is with the American Chamber of Commerce. The Prime Minister emphasized that the work of American companies should not be limited to dealing with the Iraqi government, but rather we want the private sector to participate and engage with American companies.
Why is this delegation visiting Baghdad? With the arrival of the new US administration, headed by Trump, to the White House, the Iraqi government sought to conduct three contacts with President Trump and the US Secretaries of State and Defense. The efforts of the Prime Minister's advisors, who are interested in this relationship, resulted in the presence of this large delegation, which aims to build fruitful relations with the US side.
There is no connection between the US decision to raise customs tariffs and the delegation's visit. The decision is a sovereign US decision. Despite the increase in customs tariffs on Iraq, we have confirmed that it will not have a significant impact on Iraq. This means that we do not have major imports from the US. Rather, our major imports are from China, Turkey, and Iran. There is a certain degree of impact, but only a small amount, and this impact extends to all countries.
Our message is one of openness to countries around the world, including American companies, which usually offer the best products and technology. There is no religious, legal, or political obstacle to opening your country to this technology and importing the best for your country, rather than importing less technical goods.
Google, a company interested in digitalization and artificial intelligence, was also present among the delegation. Several of their representatives were present at the meeting, and they expressed their willingness to cooperate with the Prime Minister. They even requested that the groundwork be prepared by enacting special laws that would facilitate the use of artificial intelligence, so that Google could bring equipment and devices to Iraq. A representative from SpaceX, a space science company, was also supposed to be present at the meeting.
Rafidain Bank activates the comprehensive banking system in 57 branches as part of the digital transformation plan.
Rafidain Bank announced today, Thursday, the activation of the comprehensive banking system in 57 branches, a move that reflects the bank's commitment to promoting digital transformation in the banking sector in Iraq.
In an official statement received by Al-Rabia News Agency, the bank indicated that it has implemented the system in its Bab al-Muadham and Oil Products Distribution Authority branches in Baghdad, as part of its ambitious plan to modernize banking systems and provide a more advanced and user-friendly banking environment.
The bank explained that this step comes as part of its ongoing efforts to improve the quality of services provided to customers, noting that 57 branches are now connected to an advanced electronic system that facilitates faster and more accurate financial transactions, contributing to an improved customer experience and meeting their banking needs with greater efficiency.
The statement added that the bank continues to include more branches in the electronic system, emphasizing its commitment to providing fast and secure banking services in line with the latest international standards. This step aims to enhance transparency and facilitate access to banking services for all customers across Iraq.
This step is part of Rafidain Bank's ongoing efforts to achieve digital transformation in the banking sector, which will contribute to enhancing the effectiveness of the country's banking system and supporting the national economy as a whole.
Qaani: America and Israel do not understand Iran's power
The commander of the Quds Force of the Iranian Revolutionary Guard Corps, General Esmail Qaani, confirmed today, Thursday (April 10, 2025), that the United States and the Zionist entity, despite all their claims, are still unable to understand Iran's true capabilities, especially regarding the accuracy of its advanced missiles.
In remarks during an official event, General Qaani emphasized that "the accuracy of Iranian missiles is not a coincidence, but rather the result of internal engineering efforts and the accumulation of long-standing field experience." He added, "America and Israel do not understand why our missiles hit their targets so accurately, and this in itself is a constant source of concern for them."
He added that the resistance front, despite its limited resources, has been able to withstand and excel in the face of the most advanced weapons and technologies. He pointed to Gaza's resilience after 14 years of blockade, and the role of Yemeni youth who, in just one year, have succeeded in doubling the range of their missiles to between 600 and 700 kilometers, describing this as an unprecedented development globally.
He also explained that the capabilities of the resistance in various regions, such as Lebanon and Yemen, are the result of "purely internal efforts and field innovations," emphasizing that "the nature of the resistance is that it grows stronger the more it faces aggression."
Qaani concluded his remarks by saying, "The will of the peoples to resist is stronger than all threats, and the attempts of the arrogant powers will not succeed in breaking their resolve."
Washington names its representative for Saturday's "direct" talks with Tehran
US Secretary of State Marco Rubio announced on Thursday that direct talks will be held between Special Envoy for the Middle East Steve Witkoff and a senior Iranian leader next Saturday.
Rubio expressed his hope that "these talks between Washington and Tehran will contribute to achieving peace."
During his first presidential term (2017-2021), Trump withdrew from the 2015 nuclear agreement between Iran and world powers, which aimed to curb Tehran's sensitive nuclear activities in exchange for sanctions relief. Trump reimposed comprehensive US sanctions.
The IAEA stated that since then, Iran has far exceeded the agreement's limits regarding uranium enrichment.
Western powers accuse Iran of pursuing a secret agenda to develop its nuclear weapons capabilities by enriching uranium to a high level of fissile purity, above what they consider justification for a civilian nuclear energy program.
After Greece, Sulaymaniyah hosts the Delphi Economic Forum.
Deputy Prime Minister of the Kurdistan Region, Qubad Talabani, revealed on Thursday that the city of Sulaymaniyah will host the next edition of the Delphi Economic Forum, considering it an important opportunity to encourage foreign capitalists to invest in Kurdistan and Iraq.
"Although the Middle East is experiencing a state of instability, we in the Kurdistan Region have decided to make the right decision within the framework of federal Iraq, which is to work to consolidate security and stability in the region. This is what the Kurds have been fighting for for many years," Talabani said during a panel discussion at the 10th Delphi International Economic Forum in the Greek capital, Athens.
“Based on this principle, our relations with Europe, the United States, and even Australia are steadily improving, because we, as Kurds, have always been open to the outside world, strive to live in freedom, and have made great sacrifices in this regard. We have worked to protect stability in Kurdistan, Iraq, and the region,” he added. “Because our region naturally provides many job opportunities, we want to encourage future generations to invest and become entrepreneurs, and we are working to benefit from modern technology in this field. What is gratifying is that these efforts are receiving great attention in the city of Sulaymaniyah, because in the future, oil will run out and we will have to rely on our own energies and capabilities.”
Regarding the gas issue in Kurdistan, Talabani noted, "The world is talking today about natural gas in Kurdistan, and we want to harness this wealth to serve the well-being of the region's citizens." He noted that "the provinces of Erbil and Sulaymaniyah have witnessed significant prosperity recently, but we want further development."
Regarding the role of women in the Kurdistan Region, Qubad Talabani said: “No country will achieve success if women do not play a role in managing the state’s institutions. In the Kurdistan Region, we pay great attention to women’s capabilities, because the country needs women’s roles. If we want to build an effective society, we need active women.”
Regarding the talks to form the new government, Qubad Talabani explained, “We recently held successful elections in the Kurdistan Region, in which a large percentage of citizens participated. Now, there is a great rapprochement between the Patriotic Union of Kurdistan and the Kurdistan Democratic Party, the two main parties in the regional government. Our efforts are continuing to form the new government cabinet, as we want to address the shortcomings that existed previously and manage the region well.” He added, “Given the conditions the region is going through, we want to form an effective government. Our efforts to automate government institutions are also ongoing, and we are paying great attention to creative youth in this field.”
Regarding the region's relations with other countries, Qubad Talabani said, "We are pleased with our good relations with our partners in Europe, the United States, and other countries, and we are working to develop these relations." He praised the Delphi Forum in Greece. He also expressed his pleasure with his meetings in Greece regarding strengthening relations in the fields of economy, agriculture, tourism, and civil aviation, and pointed to the "commencement of direct flights between Athens and Sulaymaniyah in the near future."
Talabani revealed that "the city of Sulaymaniyah will host the next edition of the Delphi Economic Forum," considering it "an important opportunity to encourage foreign capitalists to invest in Kurdistan and Iraq."
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Iraqi News for FRI APR 11 25
Rafidain Bank launches OBDX service after activating anti-money laundering systems
The bank confirmed in a statement received by {Furat News} that "the new service has been successfully implemented with a number of government agencies, and is part of Rafidain's strategy to provide a safe and advanced banking environment that keeps pace with global trends toward financial transparency and good governance."
He added, "The OBDX service provides an integrated digital banking experience, enabling government agencies to conduct their financial transactions electronically and with the highest levels of security, which contributes to accelerating procedures and reducing reliance on paper transactions."
The launch of the service coincides with the activation of the AML and GOAML systems, which monitor and analyze transactions to prevent any suspicious or illegal activities, ensuring the bank's full compliance with anti-money laundering and counter-terrorist financing requirements.
The most prominent features of the new service:
Advanced banking security according to international standards.
Comprehensive compliance with local and international laws.
Ease of conducting remote transactions for government agencies.
Improving banking efficiency and reducing paperwork.
Rafidain Bank continues to provide innovative digital services that contribute to the development of the Iraqi banking sector and enhance customer confidence in the national banking institution.
Rafidain launches "Internet Banking" service
Rafidain Bank announced today, Friday, the launch of its OBDX online banking service after activating anti-money laundering and counter-terrorism financing regulations.
A statement from the bank, received by Al-Ghad Press, stated, "In a qualitative step that keeps pace with global trends towards digital transformation and enhancing banking transparency, Rafidain Bank announced the launch of the online banking service OBDX (Online Banking Digital Experience ) after activating the Anti-Money Laundering ( AML ) and Government Online Anti-Money Laundering (GOAML ) systems. The service has been successfully activated in a number of government agencies."
He added, "This decision comes within the framework of the bank's strategy to provide a safe banking environment that adheres to the latest international standards for combating money laundering and terrorist financing, as well as facilitating electronic financial transactions for government agencies."
He explained, " OBDX is an innovative digital banking experience that represents a qualitative shift in the way banking transactions are conducted, allowing government entities to access their accounts and conduct all banking transactions easily and securely online. This service helps expedite processes and reduce reliance on paperwork, which contributes to improving efficiency and enhancing transparency."
The statement pointed out that "the role of the AML and GOAML systems in ensuring compliance. In parallel with the launch of the OBDX service , Rafidain Bank activated its Anti-Money Laundering ( AML ) and GOAML systems to ensure full compliance with international standards for combating money laundering and terrorist financing. The AML system automatically monitors financial transactions and analyzes suspicious patterns, while the GOAML system records and analyzes banking data to ensure it is not used for illegal activities."
He stated that “the advantages of the OBDX service supported by compliance systems:
1. Superior Security: Integrated systems ensure full compliance with international standards, enhancing the security of financial transactions.
2. Global Compliance: The bank ensures the highest levels of transparency and compliance with international anti-money laundering laws.
3. Ease of access: Enables government agencies to conduct financial transactions easily and securely online without having to visit branches.
4. Increasing efficiency: reducing traditional procedures and accelerating transactions while ensuring compliance with global financial laws and policies.
Petroleum Products concludes a training workshop in contract and tender management.
The Oil Products Distribution Company concluded a three-day training workshop at its headquarters to enhance the capabilities of its employees in the field of contract and tender management.
The General Manager, while attending the closing ceremony of the workshop with a number of directors of relevant bodies and departments, confirmed that it aims to develop the capabilities of employees in the departments and divisions responsible for contracts, regardless of their specializations, and to provide services to the community, academic and financial institutions.
During the workshop, Dr. Sadiq Abdul Hamza Al-Ghazali, an employee in the company’s branch in Babil Governorate, gave comprehensive lectures in which he addressed tender preparation and bid analysis, which are based on the tender preparation step in terms of clarity and lack of ambiguity in concepts. He also addressed the contract terms and tender preparation, stressing that its preparation depends on the accuracy of the tender presentation and preparation, and that all these steps require in-depth experience in this field.
Government solutions to prevent the risks of commodity dumping on the national economy
The Prime Minister's financial advisor, Mazhar Mohammed Saleh, announced on Friday solutions to prevent the risks of commodity dumping on the national economy.
"There are significant developments that are shifting the balance of power in the Iraqi economy," said Mazhar Mohammed Salih, an advisor to the Prime Minister. "One of these developments is the Iraqi economic policy beginning to move towards putting an end to the phenomenon of commodity dumping, which stems from commercial chaos. This has resulted from the dominance of the concept of commercial liberalism practiced by the commercial community, which flooded the market with marginal goods devoid of value and meaning, without coordination or oversight over the past decades."
One of them is in Iraq... the 10 largest oil fields in the world
The question "Where is the largest offshore oil field in the world?" is widely asked in global economic and energy circles, particularly in light of recent developments in the oil industry and the drive by producing countries to increase their production capacity.
According to data from the Encyclopedia of Oil and Gas Fields, the obvious answer is that the world's largest offshore oil field is located in Saudi Arabia. The Safaniya field has a long history of production and huge reserves that the Kingdom continues to exploit.
The increased focus on identifying the location of the world's largest offshore oil field stems from global competition for energy resources, as Saudi Arabia seeks to strengthen its position as the world's largest oil producer and exporter through massive development projects for the Safaniya offshore field.
The question also arises: Where is the world's largest offshore oil field located? While a number of countries, such as China, are making new offshore discoveries, the Safaniya field retains the title of the world's largest in terms of proven reserves and total production.
The Safaniya field extends over an area of 50 kilometers in length and 15 kilometers in width, and contains proven reserves estimated at approximately 15 billion barrels of heavy oil, while total production extracted from it to date has reached more than 19.2 billion barrels.
Exploration work on the world's largest offshore field began in 1939, after Aramco geophysicist **** Kerr noticed an underwater high area. This reinforced his prediction of the presence of massive oil reservoirs, which was later confirmed when oil began flowing in large commercial quantities on August 15, 1951.
The Safaniya offshore field represents a key pillar of Aramco's strategy to expand offshore production. It is also the fifth-largest oil field in the world in terms of total proven reserves and production, according to Saudi oil field data from the specialized energy platform.
The 10 largest oil fields in the world
The Safaniya field's importance extends beyond its status as the world's largest offshore oil field. It also plays a key role in the global energy mix, strengthening Saudi Arabia's position as a global energy powerhouse, especially as its expansion plans continue through 2027.
Reports indicate that oil extracted from the Safaniya field accounted for approximately 22% of the total energy mix in Western Europe during that time, reflecting the field's global importance.
This comes as part of Saudi Arabia's plan to increase total production capacity to 13 million barrels per day by 2027.
The Saudi Safaniya field development project includes the construction of a giant gas-oil separation facility, four offshore gathering platforms, 29 wellhead platforms, 22 water injection platforms, and offshore accommodation facilities for workers.
Iran proposes an interim nuclear deal: an opportunity for diplomacy or a gambit to buy time?
Axios reported that Iran is about to present a proposal to the United States that would see the two sides work on drafting an interim nuclear agreement, as a prelude to negotiations for a comprehensive agreement.
This trend takes on particular significance in light of US President Donald Trump's two-month deadline to conclude a new nuclear agreement with Tehran. He has also ordered a bolstered US military presence in the Middle East in anticipation of the potential failure of the diplomatic process.
If an agreement is not reached within the specified deadline, Trump may decide to launch a military strike on Iranian nuclear facilities, or support an Israeli military strike.
A European diplomatic source indicated that the Iranian leadership considers reaching a comprehensive and technically complex agreement within two months unrealistic, and is seeking to buy more time to prevent escalation.
Ali Vaez, director of the Iran Project at the International Crisis Group, said that the Iranians believe that achieving a sustainable agreement within the deadline set by Trump is unlikely, and therefore it may be necessary to consider an interim agreement that serves as a stepping stone toward a final agreement.
The Iranian mission to the United Nations declined to comment on the reports.
Regarding the terms of a potential interim agreement, it may include suspending some Iranian uranium enrichment activities, reducing Iran's stockpile of 60% enriched uranium, and allowing UN inspectors greater access to Iranian nuclear facilities.
Experts who spoke to Axios believe that these steps may only slightly increase the time needed for Iran to develop a nuclear weapon, but they could help build the confidence needed to begin negotiations on a comprehensive agreement.
The interim agreement could also include an extension of the "snapback" mechanism, which was part of the 2015 nuclear agreement and allows the reimposition of UN Security Council sanctions on Iran in the event of its violation of the agreement. This mechanism is scheduled to expire next October.
France, the United Kingdom, and Germany have informed Tehran that they will trigger a "snapback" mechanism for sanctions if a new agreement is not reached by the end of June.
However, if an interim agreement is reached, Iran will likely demand that Trump suspend the "maximum pressure" campaign targeting the Iranian economy, and it is unclear whether the US president will agree to this.
This week, the Trump administration imposed two new rounds of sanctions on Iranian companies and individuals linked to Iran's nuclear program and oil sector.
On the other hand, Iran's proposal for an interim agreement may increase the Trump administration's doubts about the Iranian leadership's intentions, and whether it is trying to buy time without making real concessions on its nuclear program.
US White House envoy Steve Witkoff is scheduled to hold talks with Iranian Foreign Minister Abbas Araghchi on Saturday in Oman. While Washington insists the talks will be direct, Tehran insists the negotiations will be conducted through Omani mediators.
Iraq and Iran agree to activate coordination in dealing with regional and international developments.
President Abdellatif Rachid and his Iranian counterpart, Masoud Pezeshkian, agreed on Friday to enhance coordination in dealing with regional and international developments.
The Presidency of the Republic stated, in a statement received by (Mawazine News), that “President of the Republic, Abdul Latif Jamal Rashid, discussed, in a phone call today, with the President of the Islamic Republic of Iran, Masoud Pezeshkian, bilateral relations between the two neighboring countries, and ways to develop cooperation in various fields of mutual interest, in a way that serves the interests of the two peoples and enhances security and stability in the region.” According to the statement, “The two sides discussed a number of regional and international issues during the call, where the importance of continuing cooperation between the two countries and intensifying constructive dialogue to confront challenges and enhance the foundations of development and stability was emphasized.” He continued: “It was also agreed to activate coordination in dealing with regional and international developments, in a way that contributes to supporting political stability and reducing tensions in the region.”
A delegation from the American energy company HKN discusses strategic cooperation with Al-Sudani.
Prime Minister Mohammed Shia al-Sudani discussed strengthening cooperation between Iraq and HKN Energy on Thursday evening, during a meeting with a delegation from HKN Energy, one of the most important companies in the oil sector. This comes in light of the significant facilities the government has provided to attract investment to the country.
Prime Minister Mohammed Shia Al-Sudani received today, Thursday, HKN Energy, a company specializing in oil and energy.
During the meeting, they discussed enhancing cooperation between Iraq and the company, one of the most important players in the oil sector, in light of the significant facilities the government has provided to attract investment to the country.
The Prime Minister affirmed the government's encouragement of investment, which remains a priority, welcoming the work of all companies in Iraq, particularly American companies operating in Iraq's oil fields.
His Excellency explained that the government is keen to expand the horizon of strategic cooperation with the United States and strengthen relations in various fields, in accordance with the agreements and memoranda of understanding signed between the two sides.
Iran says it will give diplomacy a "real chance" in Oman talks despite US pressure
Iran announced on Friday that it would give diplomacy a "real chance" in talks with the United States in Oman, despite mounting pressure from Washington.
The two adversaries, Iran and the United States, are scheduled to hold talks in Muscat on Saturday regarding the Iranian nuclear issue. US President Donald Trump caused a shock on Monday by announcing that his administration would begin negotiations with Iran.
"We will give diplomacy a real chance with good faith and full vigilance. America should appreciate this decision, which was made despite its hostile rhetoric," Foreign Ministry spokesman Esmail Baghaei told reporters.
The talks will be chaired by Iranian Foreign Minister Abbas Araqchi and US President Donald Trump's Special Envoy to the Middle East, Steve Witkoff.
Trump said the talks would be "direct," but Araghchi stressed they would be "indirect."
Ahead of the scheduled meeting, Washington continued its "maximum pressure" policy by imposing sanctions on Iran, most recently targeting its oil network and nuclear program.
Trump threatened military action against Iran on Wednesday if no agreement is reached.
Ali Shamkhani, an advisor to the Supreme Leader of the Islamic Republic, Ayatollah Ali Khamenei, warned that Tehran could go as far as "expel" International Atomic Energy Agency (IAEA) inspectors if threats against it continue.
Commenting on this position, Washington considered Tehran's expulsion of the UN agency's inspectors "a escalation and miscalculation on Iran's part."
Saturday's talks come after Trump revealed in early March that he had sent a letter to Tehran offering negotiations, but threatened military action against it if an agreement was not reached.
Tehran responded weeks later, affirming its openness to indirect negotiations, rejecting the possibility of direct talks as long as the United States continued its policy of "maximum pressure."
Baghaei stressed that Iran "will not make prejudgments or predictions" before the talks.
"We intend to assess the other side's intentions and seriousness on Saturday and adjust our next steps accordingly," he added.
Tehran and six major powers, including the United States, Russia, and China, concluded an agreement on its nuclear program in 2015, officially known as the Joint Comprehensive Plan of Action (JCPOA). The agreement allowed for restrictions on the Islamic Republic's program and guaranteed its peaceful nature in exchange for the lifting of sanctions.
Finance Minister: Iraq seeks to deepen economic partnerships and finance priority projects
Finance Minister Taif Sami affirmed Iraq's endeavor to deepen economic partnerships and finance priority projects.
A statement by the ministry said, "The Minister of Finance participated in the joint annual meetings of the Arab financial institutions held in the State of Kuwait, in the presence of a number of finance ministers and governors of central banks in Arab countries, which discussed ways to support economic development, enhance financial and investment integration, in addition to reviewing financial performance reports and economic indicators of the relevant bodies."
The statement added that "during the opening session, the Minister of Finance stressed the importance of enhancing Arab financial cooperation and exchanging experiences between countries, noting that Iraq seeks to deepen economic partnerships and finance priority projects."
She continued, "Iraq's participation reflects the government's keenness to highlight its economic initiatives, achieve balance in its financial relations with Arab countries, and seek to benefit from the experiences of other countries to develop local financial policies."
The meetings concluded, according to the statement, with a review of future initiatives that support financial integration and implement practical plans to enhance development. The participants also stressed the importance of exchanging expertise and sharing successful experiences to stimulate investments and activate cooperation among member states.
The meetings included, according to the statement:
* Meeting of the Arab Finance Ministers * Meeting of the Board of Governors of
the Arab Fund for Economic and Social Development * Meeting of the Board of Governors of the Arab Monetary Fund * Meeting of the Board of Governors of the Arab Bank for Economic Development in Africa * Meeting of the Board of Shareholders of the Arab Investment and Export Credit Guarantee Corporation * Meeting of the Board of Governors of the Arab Authority for Agricultural Investment and Development * Meeting of the Supervisory Board of the Badir Fund to Support Entrepreneurship.
Iraqi-Croatian talks on economy, energy, oil, and security
On Friday, April 11, 2025, Foreign Minister Fuad Hussein discussed a range of issues with his Croatian counterpart, most notably the economy, energy, and oil, in addition to security and defense issues of common interest between the two countries.
A statement by the Iraqi Ministry of Foreign Affairs, a copy of which was received by Al-Jabal, stated, “Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein met on Friday with the Minister of Foreign Affairs and European Affairs of the Republic of Croatia, Gordan Grlić Radman, on the sidelines of the fourth edition of the Antalya Diplomatic Forum ADF2025 . During the meeting, ways to enhance bilateral relations between Iraq and Croatia were discussed, with a focus on cooperation in the fields of economy, energy and oil, in addition to discussing security and defense issues of common interest.”
The statement added, "The Minister welcomed the visit of a government economic and trade delegation, accompanied by the Croatian Prime Minister, to Iraq, with the aim of expanding the horizons of cooperation and investment. He emphasized the importance of developing economic partnerships with Croatia, in a way that serves the interests of both countries."
The statement continued, "In this context, Hussein affirmed that Iraqi-Croatian relations are based on the foundations of friendship and mutual understanding, and we seek to translate this into practical cooperation in vital areas that serve the interests of our two peoples, particularly in the energy and investment sectors."
According to the statement, the Iraqi Foreign Minister also received an official invitation from his Croatian counterpart to participate in the Energy and Security Conference scheduled to be held in the Croatian capital, Zagreb, next July .
According to the statement, "The Croatian minister emphasized the strength of relations between the two countries and noted the Croatian prime minister's upcoming visit to Baghdad in October 2025, a move that reflects the shared desire to strengthen the strategic partnership and develop bilateral relations at various levels."
Three obstacles delaying exports... Erbil and Baghdad have a week to agree on a consulting entity
The fate of 115,000 barrels of oil, along with the nature of the consulting firm that will be tasked with "calculating the fair estimated costs" of production and transportation, and previous debts, stand as obstacles to reaching an agreement between Erbil and Baghdad to resume oil exports. The two sides have only one week left to agree on the selection of the consulting firm, otherwise the matter will be referred to the Prime Minister.
The last meeting between a delegation from the Kurdistan Regional Government and officials from the federal Ministry of Oil was held on March 20, 2025, to discuss obstacles related to oil exports and companies' dues, which have yet to be fully resolved.
According to Rudaw Media Network's monitoring, three main issues remain outstanding.
Baghdad is willing to receive 300,000 barrels per day of Kurdistan Region oil, instead of the 400,000 barrels stipulated in the budget law.
In return, the region is demanding that 115,000 barrels per day of this amount be used to meet domestic needs, provided that this amount is treated as exported oil in terms of financial evaluation.
The initial agreement between the two parties stipulates that Baghdad pays oil companies $16 per barrel of 185,000 barrels per day.
The latest amendment to the budget law set this amount as the temporary cost of production and transportation per barrel, pending an estimated assessment by an international consulting body agreed upon by both sides.
“Some demands require further amendments,”
Bassem al-Gharibawi, a member of the Iraqi parliament’s Oil and Gas Committee, explained to Rudaw Media Network.
“The problem lies in the amount of oil delivered for domestic consumption.”
“The Kurdistan Region does not have the capacity to deliver 400,000 barrels and wants to use 115,000 barrels for domestic consumption, with the Ministry of Oil responsible for the corresponding financial amount. This is the point of contention,” al-Gharibawi explained.
He continued, “Some of the Kurdistan Region’s demands require further amendments to the budget law.”
The issue of the consulting body poses an additional obstacle, as the form and role of this body in estimating production and transportation costs has not yet been decided.
While the oil companies are demanding payment for the period prior to the cessation of exports in 2023, Baghdad considers these debts the responsibility of Erbil.
The Iraqi parliament voted on February 2, 2025, on the first amendment to the three-year budget law, as part of an effort to resume the Kurdistan Region's oil exports, which had been halted since late March 2023.
This amendment entered into force on February 17, after its publication in the Iraqi Official Gazette. It includes a temporary $16 per barrel, pending an agreement on a consulting firm within a period not exceeding 60 days.
This period ends on April 17, when the Ministries of Oil and Natural Resources are expected to reach an agreement on the consulting firm, otherwise the matter will be referred to the federal cabinet for resolution.
Al-Gharibawi noted that "Erbil and Baghdad have one week left to reach an agreement; otherwise, the issue of identifying the consulting firm will be referred to the prime minister, who will take the necessary steps to implement this clause."
An economist reveals the reason for the "temporary paralysis" in commercial activity in Iraq.
Al-Anzi told Al-Furat News Agency that "the unstable political and economic conditions have pushed many citizens to adopt a saving policy, which has directly impacted daily demand in the markets."
Al-Anzi explained that "this saving is not mandatory in US dollars, noting that the dollar exchange rate remains stable so far."
However, he warned at the same time that "this situation is temporary, as any strong emergency could lead to the collapse of the value of the Iraqi dinar and the rise of the dollar exchange rate."
He added that current economic indicators do not suggest the occurrence of such a scenario at the present time, but a state of anxiety and anticipation prevails in the markets due to the ambiguity surrounding the economic scene in the country."
After a secret meeting, Khamenei gives Iran free rein for direct negotiations with the United States.
A New York Times report on Friday highlighted the sudden shift in Iranian Supreme Leader Ali Khamenei's position on direct negotiations with the United States, which are scheduled to begin Saturday in the Sultanate of Oman.
According to Iranian officials who spoke to the newspaper on condition of anonymity, "senior Iranian officials pressured Khamenei to allow negotiations with Washington, arguing that the threat of war and the country's worsening economic crisis could lead to the regime's downfall."
Officials told the newspaper that the decision was made during a secret, urgent meeting held last month in response to the US president's invitation to Khamenei to negotiate over Iran's nuclear program.
Iranian President Masoud Pezeshkian, Judiciary Chief Gholamhossein Mohseni Ejei, and Parliament Speaker Mohammad Bagher Qalibaf attended the meeting, according to two senior Iranian officials familiar with the details.
According to the newspaper, "the clear and explicit message they conveyed to Khamenei included allowing Tehran to negotiate with Washington, even directly if necessary, because the alternative is the potential overthrow of the Islamic Republic."
Iranian officials warned that "the risk of war with the United States and Israel is very serious," and informed Khamenei that if Iran refuses to engage in talks or the negotiations fail, military strikes on two of Iran's most important nuclear sites, Natanz and Fordow, would be inevitable.
The officials told Khamenei that "Iran would then be forced to respond, exposing it to the risk of a wider war, a scenario that would exacerbate the deteriorating economy and fuel domestic unrest." They emphasized that fighting on two fronts, internal and external, poses an existential threat to the regime.
At the end of the hours-long meeting, Khamenei reversed his position and granted permission for talks, initially indirectly through a mediator and then directly if things went well, according to the two officials.
To boost the economy, the International Development Bank is the official sponsor of the Iraqi Business Summit.
The International Development Bank announced its official sponsorship of the Iraqi Business Summit (IBS).
Video from the TV about #ashraflak I covered it with music because it is in Arabic and I messed up the narration function
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