Farhad Alaaldin, the Iraqi Prime Minister's advisor for foreign affairs, spoke about a "new chapter in the Iraqi-American partnership." He also touched on a "promising" opportunity for American companies specializing in the manufacture of floating platforms and the supply of liquefied natural gas to participate effectively in Iraq. He also revealed the agendas of a "high-level" American delegation visiting Iraq this month.
The video for this My FX Buddies Blogpost is below here:
Alaa El-Din said in an article in the Asharq Al-Awsat newspaper, followed by Al-Jabal, “On the sidelines of a recent visit to Washington, D.C., an American official explained to me that the US administration’s foreign policy approach focuses on making the United States more secure, stronger, and prosperous. In my opinion, this approach is completely in line with Iraq’s aspirations and foreign policy, particularly with the policy of Prime Minister Mohammed Shia al-Sudani, who has adopted the principle of putting Iraq first and the common interest, which will also make Iraq more secure, stronger, and prosperous.”
He added, "The ongoing transformations in the country are contributing to the consolidation of solid and advanced partnerships between Baghdad and Washington. Over the past years, Iraqi-American relations have witnessed steadily growing in the areas of security, energy, and the economy, in accordance with the principle of mutual interests . Today, with the accelerating pace of economic renaissance and comprehensive development in Iraq, particularly in the energy sector, opportunities are more available than ever before for major American companies to contribute to shaping this renaissance and leave a clear and effective mark, in addition to their role in strengthening and consolidating bilateral relations between the two countries ."
He noted that "a high-level delegation representing a select group of major American companies is scheduled to arrive in Baghdad in April to explore new and promising opportunities in the rapidly growing Iraqi market. This visit, led by the American-Iraqi Chamber of Commerce, is part of a broader initiative to strengthen economic and trade relations between the two countries ."
The advisor said, "Several memoranda of understanding and cooperation agreements are expected to be signed during the visit between visiting companies and their Iraqi counterparts. It is certain that solid global companies such as General Electric, KBR , Baker Hughes, Halliburton, Honeywell, and others are capable of playing a pivotal role in developing Iraq's energy sector, given the availability of investment opportunities and multi-billion-dollar contracts to modernize this vital sector ."
Alaa El-Din noted that "this visit is likely to result in the signing of an unprecedented agreement between General Electric and the Iraqi Ministry of Electricity, aiming to produce 24,000 megawatts of highly efficient power, as announced by the Minister of Electricity, Engineer Ali Fadhil, in a televised interview on March 28, 2025. This agreement aims to contribute to bridging the significant gap in electricity demand, which is expected to reach 48,000 megawatts ."
The Prime Minister's Advisor explained that "parallel efforts to address this challenge include establishing cross-border partnerships, in addition to continuing national work to complete the Gulf Electricity Interconnection Project, which aims to deliver 500 megawatts from the electricity grid to the Gulf Cooperation Council countries via the State of Kuwait by 2025. Iraq's understandings with the Hashemite Kingdom of Jordan, the Kingdom of Saudi Arabia, and Turkey are also expected to result in importing a total of 2,500 megawatts of energy by 2027. While the volume of imports increases to meet the growing demand, paving the way for reaching the stage of self-sufficiency, the need to cooperate with American companies in the areas of technology transfer and infrastructure development remains critical to achieving sustainability and providing long-term solutions ."
He added, "Iraq's natural gas sector also highlights the significant opportunities available to advance the country's energy development. Huge quantities of associated gas are still being flared daily, around the clock, due to weak infrastructure and the urgent need for advanced international expertise in processing and exploiting this vital resource. In this context, American companies possess advanced technical and technological capabilities, making them ideal partners in this field. These capabilities can effectively contribute to reducing waste and maximizing the use of natural resources, which will benefit both countries and help Iraq achieve energy self-sufficiency in the near and medium term ."
“On March 4, Iraqi Oil Minister Hayan Abdul Ghani announced that the ministry is in the process of importing a floating regasification platform (FSRU) to secure gas supplies for the country’s power plants. The bidding process is currently underway, and the most suitable bid to implement the project is expected to be selected in the near future. This project represents a promising opportunity for American companies specialized in manufacturing floating platforms and supplying liquefied natural gas (LNG) to participate effectively and compete on an equal footing with other international companies, as part of Iraq’s efforts to expand its options and diversify its sources to secure its energy needs, ” he said.
Alaa Al-Din continued, "Over the past two and a half years, Iraq has awarded more contracts to American companies than ever before, reflecting the growing level of trust and partnership between the two countries. Economic cooperation between Iraq and the United States has witnessed remarkable growth, encompassing various sectors, including agriculture and food industries. Currently, the Iraqi government is moving to accelerate the implementation of major infrastructure projects, particularly in the areas of transportation, water, and communications. These sectors are areas of interest and expertise for American companies, making them among the most prominent candidates to win these contracts and contribute effectively to the development process in Iraq ."
He pointed out that "Iraq's accelerating economic trajectory represents a real opportunity to deepen the partnership with the United States, especially in light of the ambitious drive to develop the energy and infrastructure sectors. American companies are in a unique position to lead this process and contribute to the implementation of its most important components with high efficiency. US National Security Advisor Mike Waltz confirmed this possibility during a phone call he had on March 10 with Prime Minister Mohammed Shia al-Sudani. He thanked the Prime Minister for his commitment to the bilateral relationship between the United States and Iraq and praised the Trump administration's dedication to strengthening energy and economic relations between the two countries for the benefit of both the American and Iraqi people ."
He pointed out that "it is increasingly clear in both Baghdad and Washington that the path forward is defined by shared interests and opportunities, which is driving bilateral relations toward more robust cooperation, based on mutual respect and convergence of strategic objectives. This is consistent with the fundamental principles of making the United States safer, stronger, and more prosperous, on the one hand, and fulfills Iraq's aspirations for promoting stability and comprehensive economic development, on the other ."
He explained, "Looking ahead, Iraq and the United States have certain opportunities to deepen their partnership in ways that contribute to enhancing regional security, economic integration, and long-term stability. This approach was at the heart of the phone call that took place between Prime Minister Mohammed Shia al-Sudani and US President Donald Trump on November 8, 2024. According to the statement issued by the Prime Minister's Office, both sides expressed their commitment to advancing the strategic partnership between Iraq and the United States and strengthening bilateral relations beyond security aspects, with a focus on the areas of economy, finance, energy, and technology ."
Al-Sudani's advisor concluded by saying, "This agreement paves the way for a new chapter in the Iraqi-American partnership, heralding a promising future in light of shared interests. It places economic development and regional stability at the heart of the relationship between the two countries, serving their peoples and effectively contributing to consolidating security and peace in the region and the world ."
News From SAT APR 5 25
A high-level US trade delegation is expected to visit Baghdad.
Borrowing again? The government is looking for solutions amid mounting financial obligations.
Amid mounting financial obligations and increasing pressure on the general budget, the Iraqi government finds itself facing a new economic challenge that may force it to reopen borrowing, both domestically and abroad, as an option to cover basic expenses, most notably employee salaries. While revenues are experiencing a relative decline compared to spending, scenarios loom on the horizon that could return the country to a cycle of borrowing to cover the deficit and finance urgent obligations. This raises questions about financial sustainability and the potential repercussions for the national economy.
Economic expert Ahmed Al-Tamimi warned on Saturday (April 5, 2025) of the possibility of Iraq resorting to domestic and foreign loans again, if financial pressures on the general budget continue, noting that the government may be forced to resort to this option to meet its due obligations, most notably salaries.
Al-Tamimi told Baghdad Today, "The collapse in oil prices will have serious and significant repercussions for Iraq in the coming period, especially since Iraq relies primarily on oil sales to finance its budget."
He explained that "Iraq will suffer a major financial crisis in light of the ongoing collapse in oil prices. This poses a threat to the provision of employee salaries, which now constitute 75% of the budget, and will also impact the launch of projects and the completion of unfinished projects."
He added, "Iraq may be forced to resort to external and internal loans again to meet its outstanding salaries and other obligations."
Economist Nabil Al-Marsoumi warned on Tuesday (March 4, 2025) of a future financial crisis in Iraq, noting that net oil revenues would only cover employee salaries.
Al-Marsoumi wrote in a Facebook post, followed by Baghdad Today, that "oil prices are falling to $70 after US pressure succeeded in getting OPEC+ to abandon its voluntary cuts of 2.2 million barrels." He added that "the increase in oil production will be 120,000 barrels per day for 18 months, starting next April."
Al-Marsoumi indicated that "Iraq's share of this increase will be 12,000 barrels per day, meaning that the price of a barrel of Iraqi oil will be around $67."
He explained that "the total expected oil revenues are equal to 108 trillion dinars, while the net oil revenues, after deducting the expenses of licensing companies, will equal 95 trillion dinars."
He added that "net oil revenues will only be sufficient to cover the salaries and social welfare items, which will make the financial situation difficult to secure the revenues needed to cover rising public expenditures." He continued, "In this case, the government will resort to domestic and foreign borrowing to cover the growing real deficit gap."
According to a Reuters report, Iraq faces financial pressures in 2025 due to lower oil prices, necessitating stricter fiscal policies to maintain economic stability.
If the budgeted oil price is $70 per barrel, and Iraq exports 3.5 million barrels per day, projected daily revenues would be $245 million. Over a full year, revenues would be approximately $89.4 billion. If the oil price were to fall by an additional $10 to $60 per barrel, annual revenues would fall to $76.65 billion, representing an annual loss of $12.75 billion, widening the fiscal deficit and placing additional pressure on the Iraqi economy.
Prime Minister's advisor, Mazhar Mohammed Saleh, confirmed on Saturday that the widespread use of digital payment systems allows citizens to borrow at lower costs, noting that 95 percent of the country's 109 trillion dinars are held outside the banking system.
Parliamentary Finance Committee warns of a declining dollar value in the 2025 budget.
The Parliamentary Finance Committee noted the need to review the 2025 budget schedules if oil prices continue to fall below $70 per barrel.
She explained that "the final decision will be based on financial estimates of oil prices throughout the year. The price may be maintained if studies indicate it rises above $70. However, if the price falls below this level, the government must revisit the financial schedules."
The committee noted the existence of a real deficit in the budgets for the previous years, 2023 and 2024, and stated, "This requires careful handling of oil price fluctuations and their impact on the national economy."
Oil prices fell for the second day in a row, reaching their lowest levels in more than three years, after markets were shocked by a sudden increase in OPEC+ production, along with tariffs imposed by US President Donald Trump, which could lead to a reduction in global demand.
The budget is awaiting its launch. No political obstacles stand in the way.
MP Salem Ibrahim confirmed, on Saturday (April 5, 2025), that there are no political forces or blocs obstructing the sending of the 2025 general budget tables, expecting that the tables will be sent to Parliament during the next week or the week after, according to current data .
Ibrahim told Baghdad Today, "There is a clear delay in sending the budget tables, amid increasing parliamentary pressure on the government to expedite its referral to the parliamentary finance committee for discussion, in preparation for submitting it to the parliament presidency and then presenting it for reading and voting in accordance with established constitutional procedures."
He explained that "all political forces support the approval of the budget, and there have been no indications of any party seeking to obstruct or disrupt the schedules, given the urgent need for the budget to secure the entitlements of governorates and various social groups, in addition to the financial obligations that depend on its approval ."
Ibrahim warned that "the continued delay in submitting and approving the budget will directly harm project funding and the implementation of financial plans in various governorates," stressing that "approving the budget has become a national option supported by all political parties without exception ."
The MP concluded his statement by saying, "There are no attempts to postpone the schedules until the next parliamentary session. All we are waiting for is the timing of the government's submission ."
The state's general budget is one of the fundamental pillars of financial and economic management in Iraq. The government relies on it to finance development projects, provide services, pay salaries, and fulfill social obligations to various segments of society .
With the adoption of the first three-year budget in 2023, many hoped the delays would be shortened, but the detailed annual schedules still need to be submitted, discussed, and voted on by Parliament .
These statements come at a time of mounting parliamentary and popular pressure on the government to expedite the release of schedules, amid a growing need to activate stalled projects and disburse dues to governorates, employees, and contractors, amid mounting economic and financial challenges .
Al-Sudani chairs a meeting to discuss the impact of US tariffs on the Iraqi economy.
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Saturday (April 5, 2025) to discuss the economic and trade implications of the US government's decision to increase customs duties on its imports of foreign goods, including those from Iraq.
A statement issued by the Prime Minister's Media Office, received by Baghdad Today, stated that "the meeting discussed the repercussions of the US decision on the global economy and crude oil prices, as well as its direct impact on the Iraqi economy." It indicated that "digital data issued by the Ministry of Trade revealed that the US decision was based on the difference in the trade balance between the two countries, and not on Iraqi customs duties imposed on US goods."
The statement noted that "a large portion of Iraq's imports of American products are not made directly, but rather through the markets of intermediary countries, due to the nature of the trade policies adopted by some American companies in their dealings with Iraq."
In light of these facts, Al-Sudani issued a series of measures aimed at protecting the Iraqi economy and developing the partnership with the United States, including:
Opening direct channels between distributors and commercial agents in both countries, and activating direct dealings.
Developing banking and financial services between the two parties.
Reviewing the foundations of the trade relationship with the US side to improve it and ensure a balance of interests.
Opening official dialogues through the Ministries of Foreign Affairs, Trade, and Finance, and submitting weekly reports to the Prime Minister.
This government move comes amid global economic tensions stemming from Washington's decision to increase tariffs on various goods from around the world, as part of a policy aimed at reducing the trade deficit and stimulating domestic American manufacturing. This decision has sparked widespread concern among a number of countries that are trading partners with the United States, amid warnings of its potential impact on international trade and oil price stability, particularly in rentier states like Iraq, which rely heavily on oil revenues and trade linked to American and international markets.
The United States is one of Iraq's most important economic partners, particularly in the areas of energy, financial services, and indirect imports through the Gulf and Turkish markets. It is feared that raising US tariffs could lead to supply disruptions, higher commodity costs, and a decline in mutual financial flows. This has prompted the Iraqi government to engage in diplomatic and commercial efforts in an attempt to avoid direct negative impacts on the local market and public finances.
Calls for "Liberating Iraq" in Washington: The Trump Administration's Vision and Escalation with Iran
Former Iraqi diplomat Ghazi Faisal confirmed on Saturday (April 5, 2025) that calls for the "liberation of Iraq" issued by US officials in Washington reflect the vision of the administration of US President Donald Trump for dealing with the situation in Iraq.
Faisal explained in a statement to Baghdad Today that "Republican Representative Wilson's statements regarding the 'liberation of Iraq' project do not come out of nowhere, but rather represent the Trump administration's strategy toward Iran, which the United States considers a 'terrorist state' and the world's foremost sponsor of terrorism."
He added, "The armed factions loyal to Iran have transformed into a parallel force to the official state in Iraq, strategically allied with the Iranian Revolutionary Guard."
He pointed out that "calls to 'liberate Iraq' could be a prelude to decisions and actions that Washington may take in the coming period, given the ongoing escalation between the United States and Iran, as all options remain open."
The "liberation of Iraq" project being promoted in Washington reflects American concerns about Iran's influence in the region. Some US officials are calling for more decisive steps to counter this influence, reflecting an escalation in positions that could lead to changes in US policies toward Iraq and the region as a whole.
and now there is a response
Factions enter "Ultimatum C" after the "Liberation of Iraq" project
from Iran
Following news of an "emergency government," Al-Sudani speaks of conspiracies.
A "C-Warning" was issued to armed factions and groups in Iraq as tensions escalated between Tehran and Washington.
These groups have been conducting "evacuations" for months, according to informed sources, while their leaders have disappeared, even down to the third line.
The "factions" had completely halted their activities at the end of last November, with the truce between Israel and Hezbollah taking effect.
With the Pentagon sending additional reinforcements to the Middle East, including an aircraft carrier and a squadron of fighter jets, and the continued strikes on the Houthis and the threat to Iran, informed sources told Al-Mada that "the factions took the highest precautions in five years, following the killing of Abu Mahdi al-Muhandis, deputy head of the Popular Mobilization Forces."
The sources close to the armed groups added that the latter "took security measures for fear of being targeted in conjunction with expected strikes on Tehran."
The sources explained that "first, second, and even third-line leaders took refuge in unknown locations as a precautionary measure."
These groups, which are called the "Iraqi resistance," have been adhering to "unprecedented" security measures since the "Pager" incident, which revealed Israel's penetration of the Lebanese Hezbollah party before the killing of its leader, Hassan Nasrallah, last September.
Outside the flock
, the Friday Imam of Najaf, Sadr al-Din al-Qabanji, threatened to target American bases in Iraq, against the backdrop of the recent escalation with Iran.
Al-Qabanji said in his Friday sermon: "We advise Trump not to rush into war or threaten war. We are ready to defend our religion and are certain that the gates of heaven have been opened to us."
He added that "the American bases in Iraq are within range of Iranian artillery; indeed, they are within reach of the fists of Iraq's youth, and no one can prevent them from doing so."
About two months ago, the government began "faltering" negotiations with "four factions" that still do not comply with the instructions of the Popular Mobilization Authority, while Parliament is considering a law to "restructure the Popular Mobilization Forces" to prevent these groups from returning and dragging the country into war.
According to statements by the leader of the Hikma Movement, Ammar al-Hakim, "the armed factions are committed to not escalating against Washington to avoid embarrassing the government led by Mohammed Shia al-Sudani."
Some unknown armed groups appeared last month, following events in Syria and Yemen, such as the "Abbas Shield Forces Martyrdom" group, but quickly disappeared.
Factions
or the Popular Mobilization Forces?!
A debate is raging in Iraq over the fate of the Popular Mobilization Forces (PMF). Mithal al-Alusi, a former parliamentarian, believes that "there is no such thing as 'factions' in Washington," and that Washington wants to "dissolve the PMF."
However, Hadi al-Amiri, leader of the Badr Organization, said that Prime Minister Mohammed Shia al-Sudani "personally" denied to him circulating reports about the United States demanding the dissolution or integration of the PMF.
He added in his statements that "talk about the resistance and the PMF carries many allegations and lies," considering that "the PMF is Iraq's safety valve, and it is everyone's duty to confront the lies."
Iranian Ambassador to Baghdad, Mohammed Kazem Al-Sadiq, had previously said that US President Donald Trump's letter to Supreme Leader Ali Khamenei included a request to "dissolve the PMF and the armed factions."
In response, Prime Minister Mohammed Shia al-Sudani responded to the Iranian ambassador's statements by confirming that there was no US request to dissolve the Popular Mobilization Forces.
Subsequently, the Iranian ambassador retracted his statements, denying knowledge of the message's content and saying he had analyzed the signals coming from Washington.
Liberate Iraq!
The US Senate is considering a bill introduced by Republican Senator Joe Wilson, which calls for the so-called "liberation of Iraq from Iran." No Iraqi party has yet commented on the US proposal.
The provisions of the new bill are reminiscent of the previous "liberation of Iraq" from Saddam's regime law, which was introduced in the Senate in 1998.
The text of the new law includes proposals and provisions requiring the US State Department and the US Treasury to develop a comprehensive 180-day strategy to reduce Iran's influence in Iraq.
The provisions include proposals to dissolve the factions and the Popular Mobilization Forces and classify them as "terrorist organizations," as well as the prosecution of major Iraqi political figures.
The bill imposes sanctions against 11 factions, in addition to 12 Iraqi political figures, and includes a halt to US security assistance to Iraq until "the factions and those close to Iran are removed from state institutions."
Crisis and Openness
These developments come amid reports circulating in political circles about the formation of a "crisis cell" or an "emergency government." The government has not yet officially commented on this information.
In what appeared to be an indirect response to this news, Al-Sudani said during a meeting with a group of tribal sheikhs: "There are those who thrive on the rhetoric of sedition, crisis, and conspiracies, and we must pay attention to this matter, especially with the upcoming elections."
He added, "Some emotional and hasty voices wanted Iraq to go to war and conflict," explaining that "the region witnessed exceptional circumstances, and the government's biggest test was in how to deal with the crisis."
Nouri al-Maliki, leader of the State of Law coalition, had spoken of "a danger surrounding the electoral process," but said he would speak about it later.
In a video address regarding the elections, al-Maliki called on Iraqis "not to listen to anyone trying to dissuade them from participating in the upcoming elections."
Al-Maliki spoke of "a danger surrounding the elections," but said he would "address it later, and citizens must adhere to an agreement and contract to protect the electoral process and reject cases of manipulation and the spending of money to spoil it.
" Contrary to the tensions between Baghdad and Washington, the Iraqi Prime Minister's advisor for foreign affairs, Farhad Alaaldin, emphasized the existence of a "unique opportunity" for the two countries to deepen their strategic partnership.
This partnership, according to Alaaldin's vision, expressed in an article published by the British newspaper The National, is no longer limited to traditional security cooperation, but rather extends to broader horizons of economic integration and the strengthening of regional security and long-term stability.
Alaaldin's statements are supported by the upcoming visit of a large delegation of American companies to the Iraqi capital in the coming days.
This visit is expected to result in the signing of several memoranda of understanding and agreements between American companies and their Iraqi counterparts, which will enhance the volume of trade exchange and joint investments.
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New from Today SUN APR 6 25
Al-Ahli Bank: A monopoly on remittances without providing banking services to Iraqis
Many economic experts and specialists in the field considerBanking servicesLocal, foreign, and local banks with foreign management, such as the bankAl-AhlyWhich is subject to Jordanian management, which monopolizes bank transfers inIraqAnd depriving local banks of them, without providing any tangible banking services to Iraqis.
Hantoush added, "These banks, including the Jordanian...Al-AhlyIt has been known to Iraqis since the nineties and was previously owned by Iraqis. It is a regular bank and does not have any competitive advantage. Many Iraqi banks are better than it, but since it is owned by foreign investors affiliated with banks inJordanAnd inGulfThey guaranteed her in front of the Americans and opened an account for her at Citibank in GB.MorganIn the United States."
The expert continued, "The National Bank and other similar banks do not operate according to the principle of providing distinguished banking operations to Iraqis, and they do not have international standards, but they operate according to the guarantee of foreign banks in their countries."
The expert pointed out that "these banks have imaginary profits that reach 300 billion dinars annually if the dollar is sold at 1,320, but if there are sales with side commissions, it will be billions of dollars."
Hantoush indicated that "Iraq needs to amend the policies of the Central Bank and support the Iraqi banking system, strengthen its standards, and strengthen its ability to transfer and enter banking operations," considering that "the Iraqi banking system falling into the hands of foreigners is incorrect."
Hantoush pointed out that "the countries of the region do not give more than 14% to foreigners, while Iraqis give 100%, contrary to the companies law that specified 49%, while the Central Bank relied onBanking LawArticle 107, which allowed the CouncilCentral Bank ManagementBy giving a percentage without specifying more or less.
Iraq awaits a trade delegation from the United States. These issues will be raised at the meeting.
Iraq awaits the visit of a high-level US trade delegation comprising representatives from the US Department of Commerce and a number of major US companies operating across various economic sectors, as part of efforts to strengthen economic and trade relations between the two countries.
Iraq's gold reserves drop by 100 kilograms
The World Gold Council announced on Sunday that Iraq's gold reserves had decreased by 100 kilograms.
According to the latest table published by the Council in April, "Iraq's gold holdings decreased by 100 kilograms, reaching 162.6 tons, down from 162.7 tons the previous month. This represents 14.5% of its remaining reserves."
He added, "Iraq maintained its 28th place on the list out of 100 countries included in the table," noting that "Iraq came in fourth place among Arab countries after Saudi Arabia, Lebanon, and Algeria."
The Council also noted that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133,000 tons, followed by Germany with 3,351,000 tons, then Italy with 2,451,000 tons, while Iceland comes in last with two tons."
The 100-kilogram shortage in Iraq's gold reserves is due to its domestic use and sale in the form of gold bullion, according to Shafaq News Agency's economic correspondent.
It's worth noting that the World Gold Council is headquartered in the United Kingdom and possesses extensive experience and in-depth knowledge of the factors driving market change. Its members comprise some of the world's largest and most advanced gold mining companies.
Government Advisor: US Decision to Raise Tariffs Will Reduce Global Economic Growth
Medhar Mohammed Salih, an advisor to the Prime Minister, confirmed on Sunday that the United States is a secondary trading partner and that Iraq is immune from the effects of tariffs. He explained that the US decision has subjected the world to a protectionist system similar to the isolation arrangements of World War II.
Salih told the Iraqi News Agency (INA): "Although Iraq is immune from the effects of imposing tariffs on Iraqi exports to the United States, due to the US being a very secondary trading partner, with oil exports to the country not exceeding $5 billion annually, and similar imports of electronic goods and cars, concerns remain about imposing tariffs on the use of the dollar in trade with other countries. This is the most ambiguous paragraph in the US executive order, which has subjected the world to a global protectionist system similar to the pre-World War II trade isolation arrangements."
He added, "Because the US economy is one of the largest economies in the world, these decisions are expected to impact global supply chain costs and create cross-border inflation. Given the downward trend in the oil asset cycle due to the impact of US trade protectionism imposed on the world's largest trading region, global economic growth is expected to decline, causing stagflation unless this policy is halted or its scope is determined as a global trade war and a soft war."
Saleh explained, "Our country will indeed face two shocks: the first is the relative turmoil in rising prices in some supply chains, and the second is the gradual decline in the oil asset cycle, at least during the current summer, with prices falling below their stable equilibrium market values."
Haider Al-Gharawi: Investment funds are a gateway to achieving sustainable development.
Economic expert Haider Karim al-Gharawi described investment funds as a gateway to achieving sustainable development for the Iraqi economy, as they are a means of achieving social solidarity through a mechanism for transferring funds among segments of society, facilitating the transfer of savings between individuals.
Al-Gharawi said that these funds can be used in an organized and purposeful manner to form portfolios that pool small savings and generate a pool of funds that can be used to achieve economic diversification, which reduces investment risks.
He explained that investment funds constitute a financial vessel that aims to reshape itself into an independent company that pools the savings of its participants, whether individuals, companies, or others. These funds are invested in a way that allows investors to collectively participate in the fund's business results.
It is worth noting that investment funds are one of the most important ways to mobilize savings at the present time, as is evident in the transfer of huge sums of capital for investment purposes between global markets.
Source: Iraq's Oil and Gas Law faces new setbacks
Disagreements persist between the federal government and the Kurdistan Regional Government (KRG) over the Oil and Gas Law, with little political will to resolve the issue, an Iraqi MP confirmed on Sunday.
The Member of the Oil and Gas Committee Bassem Naghimsh told Shafaq News that there is no political consensus on resolving the law and sending it to parliament, noting that the main points of contention revolve around the implementation of Federal Court decisions, the federal government's responsibility for the region’s oil, and its financial revenues.
"The law will not be resolved during this session due to the lack of genuine political will to push it forward," he added.
On March 4, sources revealed escalating disputes among Shiite, Sunni, and Kurdish political factions over the Oil and Gas Law, as well as the law governing the Popular Mobilization Forces’ (PMF) pensions.
Economist Nabil Al-Marsoumi also disclosed that nine foreign companies are demanding compensation of up to $24 billion due to the suspension of oil exports after the Iraqi Ministry of Oil canceled contracts with the KRG.
The oil and gas law is unlikely to be passed after a conflict between Baghdad and Erbil.
The Oil and Gas Committee of the Iraqi Council of Representatives confirmed on Sunday the ongoing disagreements between the federal government and the Kurdistan Regional Government regarding the oil and gas law, suggesting that it will likely be postponed to the next parliamentary session in light of the lack of political will to resolve it.
Committee member Bassem Naghmesh said, "The problems between the federal government and the Kurdistan Regional Government are still ongoing, and there is no political consensus on resolving the law and sending it to the Council of Representatives." He explained that the most prominent points of contention are the mechanism for implementing Federal Court rulings and the federal government's responsibility for the region's oil and financial revenues.
Naghmesh indicated that "the law will not be resolved during the current session, given the lack of a real will to push it forward."
The Central Bank denies stopping the supply of dollars to travelers.
The Central Bank of Iraq denies the circulating news (about stopping the supply of dollars to travelers at the official exchange rate of 1,320 dinars to the dollar), stressing that the decision is still in effect and that there is no truth to the report.
The Central Bank explains that the process of supplying dollars to travelers is proceeding regularly and smoothly, according to an advanced electronic system operated by companies and banks in all Iraqi airports, especially after the implementation of new mechanisms that enable travelers to receive their foreign currency shares (dollars) according to sound transactions, facilitating their faster access to dollars and eliminating negative phenomena practiced by speculators.
The Central Bank of Iraq reserves its legal right to prosecute those who spread rumors aimed at destabilizing the monetary system and creating opportunities for speculation.
Central Bank of Iraq
Media Office
April 6, 2025
The Parliamentary Finance Committee holds the government responsible for the delay in submitting budget schedules.
Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, held the government responsible on Sunday for the delay in sending the 2024 budget tables, which caused the suspension of many vital projects due to the failure to release financial allocations.
Al-Karawi said in a statement to Al-Maalouma, “The government violated Article 67 of the Financial Management Law by not sending the tables on the specified date.”
He pointed out that "the ministry was supposed to send the tables to the Council of Ministers in October 2024, in preparation for approving the budget before the beginning of the new year, but its delay led to the suspension of several service and financial projects."
Last February, the Council of Representatives voted on the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
Prime Minister’s Advisor Reveals Plan to Merge Rafidain and Rashid Banks
Advisor to the Prime Minister and Executive Director of the Reform Management Cell, Amer Al-Adhadh, revealed plans to merge Rafidain and Rashid Banks. While addressing the government's achievements in the field of economic reforms, he explained the contents of the "House of Reform" project and its importance to the investment file. He also outlined the contents of the draft law on public-private partnerships, which aims to enhance the investment environment in Iraq.
Al-Adhadh told Al-Shabaka magazine, as reported by the Iraqi News Agency (INA), in his talk about the “Reform House” project, “This project is not just a government program, but rather a comprehensive roadmap aimed at achieving sustainable development through interconnected goals, one of which is activating human capital and enhancing national competencies.”
He added, "Economic reforms cannot succeed without a legal and regulatory environment that attracts investment, which is what the government is working towards through this project."
Regarding cooperation with the World Bank, Al-Adhadh stated, "The World Bank commended the reforms implemented by the Iraqi government, including the "House of Reform" policies that support sustainable development, and cooperation focuses on supporting financial reforms, providing technical advice, and financial assistance to enhance the stability of the Iraqi economy and improve financial governance systems."
Al-Adhadh also noted that "the government has made significant progress in preparing the draft law on public-private partnerships, which is an essential part of the government's program. This partnership aims to enhance cooperation between the government and the private sector, particularly in infrastructure, transportation, and energy projects, thus contributing to stimulating the national economy and achieving sustainable development."
Regarding the issue of restructuring the banking sector, Al-Adhadh revealed a plan to merge Rafidain and Rashid Banks into a single entity with the aim of improving Iraq's credit rating and increasing international confidence in the banking sector. He noted that an international consulting firm has been commissioned to oversee the merger process, which includes improving financial and administrative performance and developing the digital infrastructure.
The Prime Minister's advisor also addressed the issue of economic diversification, stressing that "the government has achieved a significant increase in non-oil revenues, which is an important achievement within the framework of the income diversification strategy." He noted that "the government is focusing on improving tax administration, developing customs duties, and stimulating investment in non-oil sectors such as industry, agriculture, tourism, and technology, to ensure the sustainability of these revenues."
Al-Adhadh confirmed that "the economic reforms implemented by the government contribute to strengthening the investment environment and achieving sustainable economic growth, ensuring Iraq has a stronger and more diversified financial future."
A government official reveals the imminent launch of an unprecedented service in Iraq.
Today, Sunday (April 6, 2025), the Director General of the Oil Products Distribution Company, Hussein Talib, revealed a new service for delivering gasoline to homes.
A statement from the Ministry of Oil, received by Baghdad Today, quoted Hussein as saying, "The company is about to launch a new service to deliver or sell gasoline to homes via mobile stations to supply citizens' vehicles more easily and quickly."
Regarding the controversy surrounding the sale of gas cylinders via the Qaninati app, Hussein said: "There is no truth to what some are trying to promote regarding the high price of gas cylinders sold via the Qaninati app," stressing that "its price is fixed at only 6,000 dinars."
He added, "Street vendors can register through the app using special forms that document their personal information, granting them an electronic license to sell and distribute gas cylinders. Adopting this app will prevent price manipulation and ensure that gas cylinders reach citizens according to approved specifications, unaltered by unscrupulous individuals."
He added, "The company can also diagnose any defects or shortcomings in the work of officially licensed mobile vendors in accordance with the regulations of the electronic application."
Revealing an upcoming meeting of the Coordination Framework forces and a question about Al-Sudani's contact with Al-Julani.
A source in the Coordination Framework revealed that a meeting will be held by its forces and leaders to discuss a number of important files, including the oil prices file and the details of the phone call between Prime Minister Mohammed Shia al-Sudani and the head of the Syrian transitional phase, Ahmed al-Sharaa.
The source said, "The leaders and leaders of the framework will hold an important meeting during the current week to discuss some important issues and take appropriate decisions regarding them."
The source explained, "Among the files that will be discussed in detail is the oil prices file, considering that any change in it directly affects the general situation in the country, most importantly the issue of salaries. The attendees will also be informed of the details of the recent call that took place between al-Sudani and al-Sharaa."
He pointed out that the attendees will also discuss Trump's decisions regarding a military strike against Iran and Iraq's position regarding these threats, in addition to the US president's demands to dissolve the Popular Mobilization Forces (PMF), noting that the latter is not binding as it has not been officially signed or voted on by the US Congress.
The source noted that "the meeting will also discuss the parliamentary elections and their date, which may be subject to some change in the event of emerging emergencies that could hinder their safe holding."
Al-Maliki built 40 bridges, not 6, and we are not against Al-Sudani.. The State of Law Coalition on the elections
"The conservatives took advantage of everything.
Commenting on the parliamentary elections scheduled for next fall, the State of Law spokesperson said that the demand to amend the electoral law is not directed at Prime Minister Mohammed al-Sudani, but there is concern about the exploitation of positions because "conservatives are exploiting everything" currently. He also gave a retrospective account of the achievements of his coalition leader, Nouri al-Maliki, saying that he has completed 40 bridges, not just six or seven, indicating Baghdad's current interest in a project to relieve traffic congestion and build bridges.
Aqil Al-Fatlawi, spokesman for the State of Law bloc, with journalist Ahmed Mulla Talal:
We want to save the political process by amending the electoral law. We had clear observations about the previous election law, and we identified a number of problems with it, as we witnessed the exploitation of public office and funds.
We are honored by MP Raed Al-Maliki, but he is not a state of law. What has been proposed are solutions. We had hoped to achieve two electoral districts for each governorate, and four for Baghdad, but what has been proposed now is a new solution.
The purpose of amending the electoral law is to limit the abuse of office, as members of provincial councils have risen through appointments.
Mr. Al-Maliki cannot be blamed for spending on one side rather than another. His concern for the tribes during his time was a virtue, not a flaw, to this extent.
The Sadrist movement will not participate in the elections, as this would be harmful to society and not in its interest. A loving message to those withdrawing from the elections is to amend the electoral law for the sake of this segment at least.
We are not afraid of the electoral law, but we are concerned about the exploitation of the position. We have lists of land plots to be distributed as the elections approach, in addition to social salaries that will not be disbursed until close to election day.
The conservatives exploited everything to run for the elections, from municipal workers to state machinery.
During Mr. Al-Maliki's time, 40 bridges were built. If we currently have 6 or 7 bridges, is it better to spend money on these bridges or to install a suspended train with an investment that the state will not spend money on, or a subway?
The amendment to the electoral law does not target Mr. Al-Sudani, but rather represents an attempt to resolve some of the problems we are facing by defining the powers of governors and nominated officials.
Some provincial councils and governors are now working to distribute dues before the elections, except for Najaf, where the governor is working differently.
Appointments should be stopped 6 months before elections, to limit abuse of office.
The Hikma Movement opposes the amendment of the law, while Badr has not yet decided on its position, and the other blocs have not objected to it.
Iran: "Equal Terms" key to US talks
Iranian President Masoud Pezeshkian confirmed on Saturday that his country is open to dialogue with the United States, but only on the condition of "equal footing," rejecting any discussions under "threats or pressure."
In a TV interview with Iranian State Television, Pezeshkian sharply criticized US actions, stating, "The United States does not harm Iran alone, but the entire world." He argued that this approach contradicts Washington’s professed intentions for dialogue and cooperation, pointing to the disconnect between its rhetoric and its conduct.
"We must avoid internal conflicts and safeguard our unity," Pezeshkian added, stressing that a united Iran is crucial to counter foreign conspiracies and thwart any efforts to destabilize the nation. The President further clarified that Tehran would not tolerate any attempt to impose foreign influence on its national decisions.
His remarks come amid ongoing discussions regarding the future of the nuclear deal. US President Donald Trump had previously disclosed sending a message to Iran’s Supreme Leader, signaling his interest in negotiating a resolution to the nuclear deadlock. Iranian Foreign Minister Abbas Araghchi also confirmed that a response from Iran had been successfully relayed through Oman.
No "Nukes" Allowed
US Secretary of State Marco Rubio reaffirmed on Saturday that the United States would not allow Iran to develop nuclear weapons, reiterating its steadfast commitment to preventing Tehran from acquiring such capabilities.
Speaking to NATO foreign ministers in Brussels, Rubio stated, "No country in the world wants to see Iran possess nukes," emphasizing that the US would continue its diplomatic and security efforts to ensure Tehran could not achieve this objective.
Iran warns Iraq: Do not support any attack against us... Our forces are ready.
A senior Iranian official told Reuters that Tehran has issued official warnings to Iraq, Kuwait, the UAE, Qatar, Turkey, and Bahrain against supporting any potential US attack on Iran.
The official explained that Iran informed these countries that "any form of support, including allowing the use of their airspace or territory by the US military during the attack, would be considered a hostile act."
The Iranian official added that "any contribution or facilitation to an American attack will be met with dire consequences for those countries," while stressing that "Supreme Leader Ayatollah Ali Khamenei has ordered the armed forces to be placed on high alert."
In a related context, the official noted the existence of indirect talks between Iran and the United States that could provide "an opportunity to test Washington's seriousness in reaching a political solution," adding that these talks "could begin soon if American messages support this path, despite its difficulty."
He indicated that the first round of these talks may be mediated by the Sultanate of Oman, with mediators expected to shuttle between the Iranian and American delegations.
Iran: We will not start a war, but we are ready for it
Tehran declared its readiness for all scenarios, that it would not fear war, and that it possessed the full capabilities to confront it. While affirming its seriousness in diplomacy and negotiation, it emphasized its firmness and seriousness in defending its interests and national sovereignty. It saw no point in direct negotiations under threat, as this contradicts the principle of negotiation.
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Military confrontation or dialogue are two options Tehran has confirmed its readiness for. While it has emphasized the second option, if war is imposed on it, it will not fear it and will defend its interests and sovereignty with utmost resolve.
It will not be the first to start a war, but it is prepared for it and will not retreat from the enemy, and it has the capabilities to defeat it, according to the commander of the Islamic Revolutionary Guard Corps, Major General Hossein Salami .
Major General Hossein Salami said, "The enemy's policy is based on miscalculations. It tries to force us to confront or submit to its terms. We have accumulated capabilities and are ready to demonstrate them. We know the enemy's weaknesses, and all of them are within our range. If it wants to free our hands so it can see the reality of our strength, we are ready."
Iranian Foreign Minister Abbas Araqchi, for his part, saw no point in direct negotiations with a party whose officials hold contradictory positions and threaten to use force. While he emphasized Iran's seriousness in diplomacy and negotiation, he was also resolute in defending our interests and national sovereignty, and was prepared for all possible scenarios.
Araghchi also reiterated Tehran's commitment to dialogue and its willingness to explore indirect negotiations regarding its nuclear program and the lifting of sanctions based on the logic of building confidence in exchange for lifting sanctions.
This stance was preceded by a statement by President Masoud Pezeshkian, in which he affirmed the country's readiness for dialogue, but on an equal footing, not under threat. He considered Washington's actions to be inconsistent with the call for negotiations.
US pressure appears to have failed. Following threats and intimidation from Washington to force Tehran into direct negotiations, as outlined in President Donald Trump's letter , there is increasing media talk of US approval for indirect negotiations via the Sultanate of Oman. Meanwhile, Israeli Prime Minister Benjamin Netanyahu is seeking to derail any potential agreement on Iran by visiting the White House at Trump's invitation.
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