Cooperation between Iraq and the International Monetary Fund
Contracting with consulting firms to support the Public Debt Department
The video for this My FX Buddies blogpost is below here:
The International Monetary Fund has expressed its readiness to provide technical and advisory support to Iraq in the following areas:
Appointing new staff with higher education degrees to activate the public debt management and financial analysis system.
Determining the most appropriate tax systems for the Iraqi social situation
Iraq and the International Monetary Fund agreed to strengthen relations with foreign correspondent banks in the field of foreign trade financing
An agreement was reached to support the use of the Iraqi dinar in economic transactions to maintain the stability of the local currency.
The US Embassy: the participation of an Iraqi delegation in an annual investment summit.
The US Embassy in Baghdad announced on Sunday that an Iraqi delegation will participate in the annual SelectUSA Investment Summit this May.
The embassy said in a statement that it is leading a delegation of 46 business leaders from Iraq, including the Kurdistan Region of Iraq, to the United States to participate in the annual SelectUSA Investment Summit, which is being held in the Washington, D.C., area from May 11-14.
The embassy added that the delegation "includes a diverse range of sectors, including technology, cybersecurity, tourism, hospitality, food and beverage, franchising, agriculture, construction, investment, pharmaceuticals, real estate, and oil and gas. This diversity highlights the broad opportunities for cooperation and investment between the United States and Iraq."
It emphasized that the summit "is the largest event dedicated to promoting foreign direct investment in the United States," noting that it "brings together international investors, representatives from state and local governments, and government officials to facilitate investment in the American economy."
She explained that the summit "is organized by the Ministry of Trade and provides essential information and services to help foreign investors navigate the investment process in the United States," noting that it "aims to help Iraqis identify investment opportunities in the United States and grow their businesses."
The embassy continued in its statement, "This visit is part of a series of important visits aimed at strengthening economic relations between Iraq and the United States across various sectors."
It concluded by saying, "During May, a delegation from the U.S. International Development Finance Corporation visited Baghdad, and in April, more than 100 businessmen and companies from the American-Iraqi Chamber of Commerce participated in a business forum in Baghdad."
Ministry of Oil: Iraq is floating on a large and inexhaustible oil and gas reservoir.
Osama Raouf Hussein, the director general of the Ministry of Oil Exploration's company, said in a press statement that "Iraq's reserves are large and are what raises its ranking in the Organization of the Petroleum Exporting Countries (OPEC)," noting that "Iraq is floating on a large oil and gas reservoir from north to south, and it will not be depleted from now on and for a very long time."
He added, "The Oil Exploration Company is a pioneer in the field of seismic surveys and is the sole exploration arm of the Ministry of Oil. With the help of its seismic teams spread throughout Iraq, it has been able to carry out seismic surveys for international companies. It signed a contract with the Chinese company Geo-Jade to carry out a two- and three-dimensional seismic survey of the Khana oil patch in Diyala Governorate. This contract was implemented with purely national efforts and with modern capabilities, potential and technology that rivals what exists in the world. It was implemented in record time and with a 100 percent completion rate. In addition, a contract was signed with the Angolan company Sonangol to carry out three-dimensional surveys of the Qayyarah field in Nineveh Governorate, which was completed 100 percent. The Oil Exploration Company received certificates of appreciation and praise from both companies for the information, accuracy and speed of completion."
Hussein explained that, "Despite the limited and scarce financial capabilities, the company was able to carry out 15 two-dimensional seismic surveys at the national level, with completion rates of 102.4 percent, in addition to four three-dimensional surveys with a completion rate of 116 percent."
He stressed that "the Oil Exploration Company is currently using the most modern surveys in the world, and is in the process of introducing wireless technology, which is characterized by flexibility, ease of use, and saving time, effort, and cost."
The Director General of the Oil Exploration Company indicated that "it was able to achieve revenues estimated at 230 billion dinars during the past year, in addition to achieving revenues through the VSP vertical survey team estimated at 114 thousand dollars by signing a contract with the American company (Halliburton), in addition to contracts with (Anton Oil) in the Al-Faiha field, and (EBS) in the East Baghdad field."
He explained that "the Oil Exploration Company was supposed to receive an operating budget estimated at 200 billion dinars, of which the company received only 10 percent," noting that "the company was threatened with ceasing operations had it not signed some contracts through which it was able to achieve high revenues."
Hussein continued, "The mission of the Oil Exploration Company is to enhance hydrocarbon reserves and replenish depleted reserves. This is achieved through exploration of hydrocarbon reservoirs and assessment of their reserves, through geological and geophysical exploration studies, and identifying the locations of exploratory wells. When they are drilled and produce oil or gas, this means they have added to Iraq's reserves and replenished depleted reserves through local consumption and export outside Iraq."
Saturday News May 10 2025
The Parliamentary Legal Committee obliges the government to send budget tables.
Parliamentary Legal Committee member Aref Al-Hamami pointed out that "the government is legally obligated to submit the budget tables as soon as possible to ensure they are passed and voted on in Parliament before the end of the current legislative session."
In a press interview published by Al-Masry on Saturday, May 10, 2025, Al-Hamami warned that “continuing this delay will negatively impact vital projects across various sectors.”
He explained that "the government's delay in sending the budget tables to the House of Representatives constitutes a legal violation that threatens the stability of government work and disrupts the implementation of service and investment projects."
In the same context, he stressed that "any further delay in submitting these schedules could exacerbate the financial crisis and hamper public spending."
The International Development Bank launches the "Arab Tourist Card"
The International Development Bank announced on Saturday the launch of the "Arab Tourist Card," in partnership with the Visit Iraq platform, to facilitate financial transactions for Arab tourists in Iraq.
A statement by the bank, seen by Al-Eqtisad News, stated that "the International Development Bank launched the "Arab Tourist Card" in partnership with the official platform Visit Iraq to facilitate financial transactions for Arab tourists in Iraq."
The statement added that "the launch of the "Arab Tourist Card" in Iraq was carried out in partnership between the International Development Bank and the national platform Visit Iraq to support tourism and enhance digital financial services.
" The statement continued, "the International Development Bank was chosen to exclusively offer the "Arab Tourist Card" in cooperation with the official platform Visit Iraq to support
tourism and enhance digital financial services for visitors."
Limited Cards... "Development Bank" Loses International Trust, and Revoking Its License Reveals "Hidden Truth"
A Baghdad Today correspondent reported on Sunday (May 11, 2025) that the International Development Bank's international transactions license was revoked, and its cards were converted to local, limited-interest cards, in a move that indicates a major flaw in the bank's commitment to international banking standards.
According to experts, this measure reveals a clear weakness in the bank's performance and its inability to maintain the controls required to continue providing international services. This has led to the bank's role being reduced to a narrow, local focus, which has eroded the confidence of its clients, particularly with regard to its international services, which used to be a key component of its marketing strength.
This move is seen as a direct condemnation of the bank's management, which is now facing serious questions regarding its efficiency and transparency at a time when regulatory authorities are tightening their grip on violating banks to ensure the protection of the country's financial system, according to experts.
CBI: Iraq sees drop in foreign assets, domestic debt
Iraq's Central Bank (CBI) reported a decline in net foreign assets and a slight decrease in domestic public debt for January 2025, according to new financial data released on Saturday.
The CBI’s monthly bulletin on financial and monetary indicators showed that foreign assets stood at 128.97 trillion IQD ($98.5B) in January, reflecting a 1.41% decrease compared to 130.18 trillion IQD ($99.5B) in December 2024, and a sharper drop from 140.77 trillion IQD ($107.5B) in January 2024.
Meanwhile, Iraq’s domestic debt dropped slightly to 80.4 trillion dinars in January 2025, compared to 80.5 trillion IQD ($61.45B) in December 2024. However, this figure still represents an increase from 73.25 trillion IQD ($55.9B) in January 2024.
“The decrease in domestic debt this January is primarily due to reduced borrowing by the Ministry of Finance,” the report clarified.
Data also showed that treasury bonds and discounted treasury transfers held by the Central Bank remained stable, indicating that the Iraqi government has started repaying part of its financial obligations.
The 2025 budget schedules will be finalized by the end of May.
MP Baqir Al-Saadi stressed that "the existence of 2025 budget schedules is important to ensure project funding and provide financial support for local governments, enabling them to proceed with implementing service projects across all sectors."
Al-Saadi indicated in a press interview seen by (Al-Masry Al-Youm, Sunday 5/11/2025) that “the 2025 budget schedules will be decided by the end of this May.”
He said, "Despite talk of the possibility of postponing the budget resolution until after the November 2025 elections, there are indications that the budget schedules may be finalized by the end of this month. Thus, after the end of the legislative recess, the parliament will have the opportunity to finalize it or hold extraordinary sessions to discuss and vote on it."
He explained that "the delay in finalizing these schedules and the Cabinet's failure to send them to the Parliamentary Finance Committee for review before submitting them to the Parliament Presidency for a vote has negative repercussions on the funding of service projects in ministries and local governments."
The Central Bank of Iraq explains the reasons for the rise of the dinar against the dollar.
The Central Bank Governor explained the reason for the rise of the Iraqi dinar against the dollar.
Deputy Governor of the Central Bank, Ammar Hamad, said in a statement to the official newspaper that "this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade."
He explained that "this policy has enabled the commercial community to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market."
Hamad pointed out that "the Central Bank continues to work towards consolidating the local banking system and raising its operational efficiency to levels that keep pace with international banking standards, making it a fundamental pillar in driving economic development in Iraq."
Central Bank of Iraq Explains Reasons Behind Dinar's Rise Against the Dollar
The Central Bank of Iraq (CBI) has attributed the recent appreciation of the Iraqi dinar against the US dollar to the increased supply of foreign currency to traders at the official exchange rate, significantly reducing reliance on the black market.
Deputy Governor Ammar Hamad stated on Sunday that this development reflects the success of the CBI’s monetary policy aimed at ensuring access to safe and transparent foreign exchange sources. "Traders now obtain dollars through official banking channels that meet international standards, eliminating the need to turn to the parallel market," he said.
He noted that the central bank continues efforts to strengthen the local banking system and raise its performance to international banking standards, reinforcing its role as a key driver of Iraq’s economic development.
According to data, the US dollar has depreciated by around 15 percent against the Iraqi dinar since the beginning of this year—marking the most significant gain for the dinar in over a year.
Prime Minister’s Financial Advisor, Mazhar Mohammed Salih, confirmed that the central bank’s successful facilitation of foreign trade financing for the private sector, including major importers, was a primary factor. He also pointed to the growing use of other currencies—such as the euro, UAE dirham, and Chinese yuan—as additional contributors to the dollar’s decline.
The US Embassy: the participation of an Iraqi delegation in an annual investment summit.
The US Embassy in Baghdad announced on Sunday that an Iraqi delegation will participate in the annual SelectUSA Investment Summit this May.
The embassy said in a statement that it is leading a delegation of 46 business leaders from Iraq, including the Kurdistan Region of Iraq, to the United States to participate in the annual SelectUSA Investment Summit, which is being held in the Washington, D.C., area from May 11-14.
The embassy added that the delegation "includes a diverse range of sectors, including technology, cybersecurity, tourism, hospitality, food and beverage, franchising, agriculture, construction, investment, pharmaceuticals, real estate, and oil and gas. This diversity highlights the broad opportunities for cooperation and investment between the United States and Iraq."
It emphasized that the summit "is the largest event dedicated to promoting foreign direct investment in the United States," noting that it "brings together international investors, representatives from state and local governments, and government officials to facilitate investment in the American economy."
She explained that the summit "is organized by the Ministry of Trade and provides essential information and services to help foreign investors navigate the investment process in the United States," noting that it "aims to help Iraqis identify investment opportunities in the United States and grow their businesses."
The embassy continued in its statement, "This visit is part of a series of important visits aimed at strengthening economic relations between Iraq and the United States across various sectors."
It concluded by saying, "During May, a delegation from the U.S. International Development Finance Corporation visited Baghdad, and in April, more than 100 businessmen and companies from the American-Iraqi Chamber of Commerce participated in a business forum in Baghdad."
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Al-Nusairi: Our dinar continues to recover until it reaches the official price.
Economic and banking advisor Samir Al-Nusairi confirmed on Sunday that the Iraqi dinar has been gradually recovering for several weeks due to internal and external reasons that have directly impacted controlling fluctuations in the US dollar exchange rate, regardless of the many reasons that led to its decline and its reaching 10 cents, after the difference between the official and parallel rates had been 20 cents for a long period.
(Be careful about that ten cents I don't think that is what it means)
The Central Bank also succeeded in securing and providing 95% of the demand for the dollar at the official price and covering the needs of citizens for cash dollars and distributing it with transparency, fairness, and strict monitoring, which contributed to reducing the practices of speculators in the informal market. He added to the important role of the government in implementing its strategy in financial and banking reform, especially the implementation of paragraphs (1-7) included in the government program, in addition to removing opportunities for speculators to manipulate the exchange rate according to administrative, supervisory, and economic policies.
Banks and Investment AI generated summary provided below
The Iraqi economy is currently witnessing a significant focus on investment as an effective tool for stimulating economic growth, enhancing financial stability, and diversifying sources of income. This trend is part of a strategic vision aimed at strengthening the role of the banking sector as a key partner in supporting investment projects, whether through financing or specialized banking services.
Within the framework of enhancing the investment climate, the role of private and public banks in providing the necessary liquidity for projects is evident, in accordance with the regulations of the Central Bank of Iraq and international requirements for combating money laundering and the financing of terrorism (AML/CFT). Prime Minister Mohammed Shia al-Sudani's meetings with heads of private banks emphasized the need to strengthen partnerships between the public and private sectors through banks' support for investment projects, overcoming legal and procedural obstacles facing investing banks, including restrictions imposed on some banks due to international sanctions, and adhering to international banking standards to ensure the inclusiveness of the Iraqi financial system and its protection from international sanctions.
Example: A pioneering experience highlighted by Al-Sudani during his visit to one of the governorates, where he learned about an Islamic bank that continued its investment activities in a particular governorate despite being subject to US Treasury sanctions prohibiting transactions in dollars. This highlights the determination of local banks to support investment even under difficult circumstances, and the importance of relying on financing alternatives such as Islamic financing, dealing in local currency, and developing flexible mechanisms to support sanctioned banks without violating legislation.
However, this bank, and Islamic banks, are a type of investment banking under the law, far from the idea of traditional commercial banks that are subject to Law No. 94 of 2004 regarding prohibited activities, meaning real investment activities in real estate, agriculture, industry, etc. The banking reform process must be accompanied by a legal reform that re-evaluates the legal article related to prohibited activities with regard to traditional, non-Islamic banks. In a country like Iraq that needs sustainable development, the legal article related to prohibited activities must be reviewed and considered an integral part of the reform policy. The punished and deprived traditional banks have been hit more painfully and restrictively due to external sanctions on the one hand and the prohibition on their investment on the other.
In line with the Central Bank's directives and to ensure financial stability, banks were underlined to increase their capital in accordance with the Central Bank's instructions to enhance their solvency. Financial oversight was also strengthened to ensure banks' compliance with anti-corruption laws and financial transparency, while encouraging banks to adopt bold credit policies to support small and medium-sized enterprises (SMEs), a key driver of development.
Promoting investment requires concerted efforts between the government, banks, and investors, while ensuring a supportive legal and banking environment. Adherence to international standards is not an option; it's a necessity to avoid financial isolation. The private banking sector has proven its ability to play a developmental role, but full success depends on completing structural reforms and providing legal protection for investors.
With this vision, challenges can be transformed into opportunities, and the Iraqi economy can be elevated to the ranks of investment-attracting countries.
Summary: Banks & Investment in Iraq — A Critical Pivot Point
Iraq is placing strategic emphasis on investment and banking reform to stimulate sustainable economic growth, diversify its income sources, and reduce vulnerability to external shocks. At the heart of this vision is the integration of both private and public banks into national development efforts — especially by financing projects, supporting SMEs, and promoting liquidity.
Key Developments:
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Banks are becoming central players in the investment landscape, moving beyond traditional roles and increasingly partnering on development projects.
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The government is pushing for alignment with international standards (especially on AML/CFT laws) to avoid sanctions and restore global trust.
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Legal reforms are needed to allow traditional banks to invest in sectors like real estate and agriculture — opportunities that Islamic banks can already pursue.
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Banks facing U.S. dollar sanctions are adapting by turning to Islamic financing and local currency to stay active in the economy.
Why This Matters:
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Iraq’s economy is at a crossroads: Effective banking reform could unlock capital for job-creating sectors and improve investor confidence.
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By allowing non-Islamic banks more flexibility, Iraq could level the playing field and tap into underutilized financial potential.
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Avoiding financial isolation is essential — Iraq must meet international expectations to maintain its links to the global financial system.
Bottom Line:
If Iraq can reform its banking laws, attract investment, and meet international standards, it has a real shot at economic transformation. But legal bottlenecks and sanctions remain major hurdles that must be addressed head-on.
Monetary policy raises the value of the dinar and reduces reliance on the parallel market
The Iraqi dinar has recently recorded strong performance against the dollar, driven by a series of monetary measures adopted by the Central Bank, which have contributed to reducing demand for hard currency in the parallel market and enhancing the confidence of traders in official channels. This improvement comes amid ongoing government efforts to consolidate financial stability and stimulate business activity through effective monetary instruments and transparent and direct financing mechanisms.
Deputy Governor of the Central Bank of Kuwait, Dr. Ammar Hamad, confirmed to Al-Sabah that this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade. He explained that this policy has enabled the commercial family to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market.
Hamad noted that the Central Bank continues to work toward consolidating the local banking system and raising its operational efficiency to levels consistent with international banking standards, making it a fundamental pillar in driving economic development in Iraq. He added that the bank is adopting advanced mechanisms that enable banks to offer diverse banking products that support various economic sectors and facilitate financing and cash flow operations.
For his part, the Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, explained that a number of factors contributed to strengthening the value of the dinar, most notably the weak demand for the dollar in the parallel market, as a result of the Central Bank's policies regarding financing foreign trade for the private sector. He explained that the bank strengthens Iraqi banks' dollar balances through their correspondents abroad, especially banks with a high credit rating (AAA), which speeds up the execution of international transfers and reduces the need for dollars in the local market. He also indicated that the move towards using alternative currencies such as the euro, yuan, dirham, and lira in banking transactions has helped reduce excessive reliance on the dollar.
Saleh also noted that enabling small businesses to access financing sources directly through Iraqi banks, without costly intermediaries, has helped reduce operating costs and improved commercial efficiency, as this segment represents approximately 60% of private sector trade. He added that travelers can now easily obtain their foreign currency dues via payment cards at a subsidized exchange rate of 1,320 dinars to the dollar, in addition to the ability to receive dollars in cash at Iraqi airports, which has eased pressure on the parallel market.
In the same context, economic expert Nazir Al-Saadi emphasized that the money transfer services provided by the Central Bank have become safer and more effective, which has prompted business families to move away from the parallel market, which is characterized by significant risks and high costs. He explained that relying on official transfers not only ensures the safety of transactions, but also reduces the final cost of imports, which is positively reflected in the prices offered to consumers. He added that random transfers from the parallel market often caused losses to importers due to failure to implement them or due to price fluctuations, while the Central Bank mechanism provides a stable financial system that preserves the value of the currency and reduces Opportunities for manipulation.
Iraqi President and CBI Governor discuss Economic Reforms
President Abdul Latif Jamal Rashid and Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, met at Baghdad Palace to discuss economic reforms aimed at strengthening Iraq's financial sector and fostering sustainable growth.
They emphasized the importance of modernizing the banking system, stabilizing the market, and creating a robust financial framework to attract investment and support development.
Full statement from the Office of the Iraqi President:
President Abdul Latif Jamal Rashid met with Central Bank Governor Ali Al-Alaq at Baghdad Palace for a discussion on comprehensive economic reforms designed to strengthen Iraq's financial sector and promote sustainable economic growth.
The meeting focused on the Central Bank's ongoing efforts to modernize the banking system, address current economic challenges and stabilize the local market. They agreed on the need for a robust financial framework to drive sustainable development and long-term growth.
"As we move forward, a strong financial policy framework will be key to unlocking Iraq's economic potential," President Rashid stated. "By fostering a supportive environment for the private sector and leveraging our stability, we can attract investment, generate employment and build a more prosperous future for all Iraqis."
Governor Al-Alaq expressed his appreciation for the President's leadership and reaffirmed the Central Bank's commitment to enhancing financial stability, reforming fiscal policy and supporting national development goals.
The meeting highlighted the importance of continued cooperation between the government and the Central Bank in driving Iraq's economic transformation and ensuring prosperity for its people.
Hoarded Wealth, Frozen Economy: Iraq's Hidden Cash Crisis Deepens
For many Iraqis, banks are not seen as safe havens but as unreliable or even risky institutions. And for countless others, personal experiences of fraud and failed investments have reinforced the instinct to hide money away rather than let it work.
In a country long battered by war, corruption, and economic volatility, a new crisis is quietly suffocating Iraq's prospects for recovery: the nation's wealth is being locked away behind household doors.
Recent figures reveal that only 20 trillion Iraqi dinars are in actual market circulation out of a staggering 105 trillion dinars in total monetary volume—a sign that Iraqis are overwhelmingly choosing to hoard their savings at home rather than invest or deposit them.
This growing phenomenon not only reflects deep societal mistrust but also poses a formidable obstacle to economic growth.
The roots of this behavior run deep. For many Iraqis, banks are not seen as safe havens but as unreliable or even risky institutions. And for countless others, personal experiences of fraud and failed investments have reinforced the instinct to hide money away rather than let it work.
Ahmad Alaa, a young Iraqi man, shared his own story with Kurdistan24’s correspondent Seif Ali—a cautionary tale that mirrors the fears of many. “After saving a significant amount, I tried investing in the car trade through a partnership. I was defrauded. Even after two years in court, and a confession from the person who stole our money, he walked free,” Alaa said. “After that experience and others like it, people are too scared to invest.”
Ahmad Alaa, a young Iraqi man, shared his own story with Kurdistan24’s correspondent Seif Ali.
But fear of fraud is only part of the equation. Experts point to a fragile banking system, unpredictable exchange rates, and mounting economic pressures as factors pushing citizens further into financial isolation.
Economic analyst Arkan Al-Shammari explained to Kurdistan24, “The economic downturn and instability of the dollar discourage citizens from launching small businesses. Even those who want to invest face high operational costs—particularly rent—which make ventures unfeasible from the outset.”
Economic analyst Arkan Al-Shammari talking to Kurdistan24’s correspondent Seif Ali.
With banks offering little in the way of guarantees or incentives, and with Iraq still lacking a secure and modern banking infrastructure, citizens are left with few appealing options for managing their money.
Al-Shammari argued that revamping the financial system and offering substantial incentives could be key to drawing hoarded funds back into the economy. “Without an encouraging banking environment, it’s unrealistic to expect people to trust the system with their life savings,” he said.
The consequences are stark. As Iraq faces pressing needs in reconstruction, job creation, and diversification of its economy, massive reserves of personal wealth remain immobilized—kept in cash, hidden in homes, and denied to the markets and sectors that need them most.
In the absence of sweeping financial reforms, Iraq risks falling further behind in its efforts to build a resilient and modern economy. For now, the country’s future remains shackled not only by visible challenges, but also by the invisible weight of idle cash—locked in fear, distrust, and lost opportunity.
What does the success of the Arab Summit in Baghdad mean? This is what Iraq will reap.
Al-Dulaimi said, during his appearance on the program "Free Talk" on Al-Furat satellite channel, that: "Iraq, in accordance with Arab League protocols, is committed to sending official invitations to all Arab leaders through the Ministry of Foreign Affairs," noting that "there are hints that some Gulf leaders will not attend if Khor Abdullah is not relinquished, while leaks have come in about Syrian President Ahmed al-Sharaa apologizing for not attending, which may cast a shadow over the participation of other leaders such as Egypt and Qatar."
He believed that "diplomatic work is inherently ambiguous, and the Iraqi Foreign Ministry may be avoiding full disclosure of the names of those attending to calm the public." He added, "The Syrian president represents his country, and the tension surrounding his presence does not serve the political reality, which requires balance and calm in discourse."
Al-Dulaimi explained that "the Baghdad summit will be political and protocol-based and will discuss key issues, most notably halting the aggression on Gaza and the withdrawal of Israeli occupation forces from Syrian territory." He emphasized that "Iraq is now playing an effective diplomatic role that strengthens its presence in the Arab arena."
He also pointed out that "the summit's success will also have an economic dimension through supporting the development road project and establishing new economic relations," noting that "countries like Turkey and Iran may attend, and if Ankara does, it is also possible that the positions of Qatar and Al-Sharia will change."
Concluding his remarks, Al-Dulaimi stressed that "Khor Abdullah is purely Iraqi land and should not be subject to political bargaining," adding that "openness to all is a national necessity that serves Iraq's greater interests."
US, Iran open fourth round of nuclear talks as Tehran slams US inconsistencies
On Sunday, Tehran and Washington began a fourth round of negotiations in Oman over Iran’s rapidly advancing nuclear program, following Tehran's criticism of the US's “contradictory” behavior.
While specifics remain scarce, the talks—likely mediated by Oman’s Foreign Minister, Badr al-Busaidi, as in previous rounds in Muscat and Rome—aim to limit Iran's nuclear program in exchange for the lifting of some US sanctions.
Iran Criticizes US Contradictions
Ahead of the talks, Iran's Foreign Minister Abbas Araghchi reiterated Iran’s commitment to its principled position, emphasizing that the country’s entirely peaceful nuclear program remains under the supervision of the International Atomic Energy Agency (IAEA).
Araghchi criticized the US for “inconsistent and contradictory statements,” describing Washington's positions as a major obstacle to progress.
Meanwhile, Foreign Ministry spokesman Ismail Baghaei confirmed that Tehran’s delegation—supported by technical experts—will spare no effort to protect the interests of the country and safeguard its peaceful nuclear achievements.
An Iranian official told CNN that recent US behavior suggested the talks were “not genuine” and possibly intended as “a trap to draw the situation toward tension.” The official described the interruptions and delays as part of a “political and media game,” prompting Tehran to prepare scenarios in case the negotiations fail.
US Stresses Tough Stance
US Special Envoy Steve Witkoff warned on Friday that if the talks were unproductive, “they won’t continue and we’ll have to take a different route.”
A US official told CNN that President Donald Trump remains “completely sincere in his desire to reach a deal” and is committed to preventing Iran from obtaining a nuclear weapon, while also seeking regional peace and improved relations.
Washington’s stated red line remains a complete end to enrichment. Witkoff told Breitbart that “an enrichment program can never exist in the state of Iran ever again,” calling for the dismantling of Natanz, Fordow, and Isfahan facilities.
Trump has repeatedly threatened airstrikes if a deal is not reached. Iranian officials have warned they could pursue a nuclear weapon using their stockpile enriched to near weapons-grade levels. Israel has also threatened to act unilaterally against Iran’s nuclear facilities if it perceives a threat, adding to regional tensions heightened by the Israel-Hamas war in Gaza.
Iranian Foreign Ministry: The fourth round of talks with Washington was difficult but useful.
Iranian Foreign Ministry spokesman Esmail Baghaei announced that the fourth round of indirect talks between Iran and the United States ended minutes ago in the Omani capital, Muscat.
Baghaei described the round as “difficult,” but it was beneficial in terms of deepening mutual understanding between the two sides’ positions and opening the way for “reasonable and realistic” proposals and solutions to overcome existing differences.
He added that the Sultanate of Oman will coordinate and announce the next round of talks with the United States.
This round comes amid ongoing regional and international efforts to reduce tensions and revive diplomatic tracks between Tehran and Washington.
Did you miss the last My FX Buddies Episode? Catch it below:
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