Government advisor: Contracting with international audit firms is a key step toward modernizing the economic structure.
Mazar Mohammed Saleh, an advisor to the Prime Minister, confirmed on Friday that contracting with international audit firms to evaluate the banking sector is a key step toward modernizing the economic structure. While explaining that these firms are independent and unaffected by pressures and interests, he indicated that this modernization contributes to strengthening confidence in the Iraqi financial market and reform in this sector, and encourages a shift away from the informal cash economy.
The video for this My FX Buddies Blogpost is below here:
Advisor to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA): "The statements made by Prime Minister Mohammed Shia al-Sudani during his recent important meeting with the chairmen of the boards of directors of private banks in Iraq or their representatives are consistent with the banking reform policy in Iraq, particularly highlighting the importance of contracting with international firms for financial auditing and assessing the status of the banking market in our country. This represents a fundamental step and a foundation towards comprehensively modernizing the economic structure, while simultaneously reflecting a drive to rebuild trust and cohesion within the financial sector in general and the banking market in particular." He added, "Prime Minister Mohammed Shia al-Sudani's statements undoubtedly represent reform axes that do not deviate from the principles of the government's approach that state institutions have followed over the past few years. The primary goal of banking reform is to modernize it to align with international standards in governance, compliance, and transparency, particularly in providing confidence and efficiency in the provision of banking services to society with a broad framework of integrity and credibility in banking work." He noted that "the Prime Minister's speech focused on the need to encourage investment by ensuring a reliable banking system that supports financial inclusion and efforts to transition to a digital economy, electronic payments, and all digital transactions." He explained that "the Prime Minister's speech focused on the importance of contracting with international auditing firms to re-evaluate the conditions of banks, both private and government-owned, based on a single premise: ensuring their institutional capabilities to uncover any financial loopholes in the country's banking system, verify the integrity of accounting and administrative procedures within local banks, and provide an accurate assessment of the financial suitability of banking institutions. This supports reform plans with real data to take effective steps to build a long-awaited, integrated and efficient banking system." He indicated that "these international companies possess advanced auditing expertise and technologies, undoubtedly supported by local competence. In addition, the international auditing and accounting firms currently undertaking the banking sector evaluation process are independent entities, unaffected by pressures and interests, and provide greater credibility to the international community and investors, which enhances confidence in our country's financial market." He continued, "Prime Minister Mohammed Shia al-Sudani's speech did not depart from the fundamental principles of financial and banking reform, which are based on encouraging citizens and companies to deposit funds and engage in credit transactions with banks instead of the informal cash economy. This is achieved by creating an attractive investment environment based on transparent and stable banking institutions, with the goal of supporting the private sector with effective loans and financial services. This contributes to creating job opportunities and sustainable development within the aforementioned private sector, which is the true partner of the state in economic progress and prosperity in Iraq." Prime Minister Mohammed Shia al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks, during which mechanisms for implementing the banking reform plans prepared by the government were discussed as part of comprehensive reforms of the economic sector.
During the meeting, according to an official statement, the Prime Minister emphasized that "all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies." He noted that "the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, including all banks, and has made significant progress in implementation."
He explained that "the work of the First Rafidain Bank will launch with a new look and vision, in partnership with specialized and well-known banks." He pointed to "the formulation of a clear roadmap to address the conditions of the private banking sector, as a partner in development." He emphasized the need for cooperation during the next phase to take effective steps in economic reform.
He pointed to "the state's distancing from detailed intervention in sectors and assuming a regulatory role," indicating efforts to "engage the private sector and foreign companies in all mega-projects, as well as support local productive sectors and absorb the imported cash flow." Providing domestic goods and services to citizens as an alternative to imports and ensuring support for local investment. The Prime Minister directed "banks to simplify procedures and participate broadly in the development process, as well as to participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel confident depositing their money in banks."
An expert sounds the alarm: The monopoly of foreign banks operating in Iraq over remittances must stop immediately.
Financial and banking expert Mustafa Hantoush stressed that the control of Jordanian and Gulf banks over Iraqi remittances is something that cannot be tolerated, ignored, or continued. It requires immediate and swift action by the Central Bank of Iraq.
In an interview with Iraq Observer, Hantoush expressed his regret that "the Central Bank's required solutions to this issue are virtually non-existent," calling for "the Central Bank to conduct a detailed study to review the country's financial situation by creating a policy to strengthen Iraqi banks at the expense of foreign banks."
He continued, "At the very least, it is possible for Iraqi foreign banks to participate and for dealings with Iraqis to be carried out in conjunction with taking radical steps to develop monetary policy." He noted that "as long as convictions are directed towards not developing the banking system in Iraq, it will be extremely difficult to control the work of these banks during their foreign dealings on behalf of Iraqi banks."
Experts and specialists have long sharply criticized foreign banks operating in Iraq, arguing that they fail to offer development plans, particularly in Iraq's poorer areas. Instead, they focus their activities on commercial areas where traders are located for the purpose of making foreign transfers. Furthermore, foreign banks operating in Iraq do not offer real electronic applications that serve citizens, nor do they contribute to vital projects such as oil banks.
Thus, all international banks operating in Iraq are linked to the American correspondent bank, and their activity revolves around making profits from remittances. When remittances are closed, they close their branches and return to their countries laden with profits.
Iraq's customs revenues reached 59 billion dinars after implementing the ASYCUDA system.
Finance Minister Taif Sami announced on Friday a significant increase in customs revenues following the implementation of the ASYCUDA Customs Automation System, amounting to more than 59 billion dinars.
Legal expert: The House of Representatives has the right to extend its legislative session for 30 days to approve the budget schedules.
Al-Tamimi explained in a statement to Al-Furat News Agency that “Article 57 of the Iraqi Constitution stipulates an annual session for the Council of Representatives with two legislative chapters, but it excludes the case of discussing and approving the general budget, as it stipulates that “the legislative chapter does not end if it includes the general budget law except after voting on it.”
The legal expert stressed that this constitutional text is considered “governing” and imposes the necessity of approving budget schedules as soon as possible, due to its direct impact on “the livelihood of society” and the stability of economic and living conditions.
In a related context, Al-Tamimi pointed out that Article 57 itself allows the possibility of extending the current legislative chapter, based on a request from one of the three presidencies or with the signatures of no less than fifty members of the Council of Representatives. In this case, an extraordinary session is held, and its meetings are limited to the matters that called for this extension.
Al-Tamimi explained that the duration of the extension of the legislative chapter is limited to “only thirty days,” and the Council’s discussions and sessions during this period must be limited to “matters related to the budget only.”
The legal expert concluded his statement by emphasizing that “the budget file is important It is necessary to extend the sessions of the House of Representatives in order to accomplish this national task that the Iraqi people are waiting for.
A parliamentary source told Al-Furat News last Tuesday that the Presidency of the House of Representatives decided to end the first legislative session of the fourth legislative year on May 9th {today, Friday} in accordance with Article (57) of the Constitution and Article (22) of the House of Representatives’ internal regulations.
Al-Sudani discusses Meta's publishing policies and social media platform managementGovernment Statement:
Al-Sudani received a delegation from Meta, a company specializing in social media and applications. During the meeting, they reviewed ways to develop cooperation in the areas of digital transformation, digital sovereignty, individual security, and publishing policies. Al-Sudani affirmed the government's commitment to automation and digital transformation efforts at all levels of service, including all government and banking applications. The meeting emphasized the importance of organizing joint workshops for cooperation and coordination in managing social media platforms. The company also extended an optical cable across Iraqi territory to enhance and develop communications and internet services.The Secrets of "Black Trade"... Faction Tactics Bring the Dollar Back to 140,000 Dinars
The current decline in the US dollar exchange rate against the Iraqi dinar is raising concerns among economists, as it "did not result from radical reforms to the economic structure and mechanisms for dealing with foreign currency," exposing it to a sudden resurgence when black market networks resume activity or any political or security tensions arise .
According to the Al-Kifah and Al-Harithiya stock exchanges in the capital, Baghdad, they closed on Thursday evening at 142,700 Iraqi dinars for every US dollar. Meanwhile, selling prices at exchange shops in local markets were 144,000 Iraqi dinars for every US dollar, while buying prices reached 142,000 dinars for every US dollar .
In Erbil, the capital of the Kurdistan Region, the selling price was 142,900 dinars per $100, and the buying price was 142,800 dinars per $100 .
" Great danger "
Regarding the repercussions of this decline, Kazem Al-Shammari, a member of the Parliamentary Economic Committee, stated, "This decline in the dollar exchange rate has negative repercussions and raises concerns among economists, because the more the dollar declines, the more the country's economy is exposed to greater danger ."
Al-Shammari explained to Shafaq News Agency, "The current situation of the Iraqi dinar is unstable due to its absence in daily transactions and the fact that a large portion of it is stored in homes, which significantly impacts the country's economic situation ."
He explained that "an individual's purchasing power depends on the strength of the economy. If a country's economy is healthy and strong, purchasing power will be good. However, if the economy is collapsing, there will be no purchasing power. Therefore, anyone who believes that the decline of the dollar benefits the Iraqi economy is mistaken ."
Regarding the role of parliament in addressing this potential crisis, Al-Shammari said, "Parliament has entered a legislative recess, and during this recess, the House of Representatives is not permitted to host officials or hold meetings, except for extraordinary sessions based on the signatures of a specific number of representatives or an invitation from the House Presidency ."
Due to this holiday, he confirmed that "we will be meeting with the governor of the Central Bank starting next week to discuss the nature of this decline, whether it is planned or an emergency, the consequences of this decline on the economy and individuals, and the Central Bank's measures in this regard ."
Faction tactics
The current decline in the dollar on the parallel market is "a development that reflects the magnitude of the financial changes that have recently occurred in the local market," according to economic researcher Ahmed Eid . However, it is a temporary decline due to low demand, a contraction in official imports, tightened controls at border crossings, and some monetary movements.
Eid told the agency that "recent government measures have contributed to expanding dollar sales outlets through official banks and increasing coverage for travel, study abroad, and medical treatment, alleviating pressure on the black market, creating a temporary balance between supply and demand in the market ."
But deeper down, there's a "dark side" to this decline, as Eid describes it, attributing it to "the presence of numerous economic offices affiliated with militias and parties that have long controlled a significant portion of financial transfers and the smuggling of dollars abroad. These have recently reduced their activities as a result of American and international pressure and potential sanctions ."
He pointed out that "reducing these activities has reduced the demand for dollars from these informal networks, especially since some of these offices have temporarily reduced their activity as a precautionary tactic pending a change in the political climate or a relaxation of controls ."
Therefore, the economic expert considered that "this decline may be viewed as stability, but it is a fragile stability because it is not based on radical reforms to the economic structure and mechanisms for dealing with foreign currency, but rather on circumstantial shifts that could be reversed at any moment ."
Eid predicted that "if black market networks resume activity or any political or security tensions arise, the dollar could suddenly rise again, requiring a comprehensive national strategy to control the market and curb the influence of illegal economic offices that continue to operate in Iraq and pose a real threat to its national economy ."
Government procedures
However, in an interview with Shafaq News Agency, the Prime Minister's financial and economic advisor, Mazhar Mohammed Salih, praised the decline in the dollar's price, attributing this to the Central Bank of Iraq's success in financing foreign trade for the private sector, encouraging small business financing without costly intermediaries, and the success of travelers in obtaining their foreign currency dues .
Economic expert Nawar Al-Saadi agreed with Saleh, stating that "the decline in the dollar exchange rate is not surprising, but rather reflects a set of policies and measures that are gradually beginning to bear fruit, along with other developments in market behavior and local demand for hard currency ."
Al-Saadi explained, during his interview with the agency, that "the first decisive factor is the gradual expansion in the use of electronic payment tools, which has contributed to reducing reliance on cash dollars, especially among travelers, thus reducing the actual demand for hard currency in the open market ."
He continued: "In recent months, we have witnessed serious efforts by the Central Bank to reduce the amount of money in circulation in Iraqi dinars, which has directly reflected in the appreciation of the dinar, in addition to some savers and investors shifting from dollars to gold, amidst the state of anticipation and anxiety regarding developments in the regional situation ."
He noted that "non-oil-related financial flows contributed to an increase in the supply of dollars, thus facilitating the balancing of supply and demand without the need for excessive reliance on the currency selling window ."
Al-Saadi also attributed the dollar's decline to "a decline in import volume due to the declining purchasing power of Iraqi consumers, which reduced the need for dollars to finance these transactions, which in turn affected demand in the market ."
Al-Saadi concluded his remarks by pointing out that what also contributed to this decline was "the relative control of some smuggling and illegal financing channels in neighboring countries, which has made the dollar in the Iraqi market less vulnerable to leakage and more stable within the local monetary system ."
The dollar's exchange rate is stabilizing towards its target: adaptation or adjustment?
Dr. Haitham Hamid Mutlaq Al-Mansour
t became clear in the period from last April until this May that the dollar exchange rate in Iraq began to stabilize, declining towards the (official) target level. Therefore, a question may be raised in this context: Is this stability the result of “adaptation” or “adaptation”?
To answer this question, we examine the reality of monetary policy measures that strengthened the foreign exchange signal's response to the downward trend, which can be described in the following paragraphs:
1. The Central Bank's restrictive policy of controlling dollar sales to banks through transparency measures for transfers of unclear origin aimed at combating smuggling. This increased the official supply and eased pressure on the exchange rate.
2. The effectiveness of monetary policy in financing foreign trade through highly rated correspondent banks, within the framework of the US Treasury and Federal Reserve's conditions. This is in addition to the trend toward settlement in euros, yuan, and UAE dirhams, which has facilitated remittance transactions in our trade with China, Turkey, and the UAE.
3. Added to this is the decline in demand for the dollar due to the increased level of banking compliance with international conditions on dollar transfers to prevent their smuggling to Iran, Syria, and Turkey via Iraq. As a result, suspicious transfers have decreased, and illicit demand for dollars has declined, contributing to the stability of the dollar exchange rate.
4- The effectiveness of the Central Bank’s foreign reserves management to compensate for the decline in the dollar supply in the parallel market, thus curbing the exchange rate towards the target.
5- The effectiveness of the inflation targeting policy led to a slowdown in the rise in the general price level (inflation) in Iraq, which limited the phenomenon of dollarization and raised the real value of the dinar.
6- Decline in speculation in the parallel market. Following the regulatory measures, the activity of unlicensed money changers and speculators who artificially raised prices declined.
7- The effectiveness of financing travelers in dollars through the official rate using payment cards at reduced costs and at the official exchange rate of 1320 dinars per dollar, in addition to collecting cash dollars through Iraqi airports, in the amount of 3000 dollars at the official rate for each traveler per month who carries an electronic payment card.
8- External international factors related to a general weakness in purchasing power in global markets and a decline in stocks, which caused a decline in the value of the dollar and a rise in gold, leading to a decline in demand for it globally and locally.
From the above-mentioned reasons, we find that exchange rate stability, despite its importance as a short-term objective of monetary policy, was achieved through “adjustment,” i.e., a short-term price adjustment trend resulting from short- or medium-term measures and treatments for exchange rate fluctuations. The aim was to restore temporary economic equilibrium without changing the basic structure of the economy and without deep-rooted long-term policies, which reduces the effectiveness of targeting the exchange rate at the long-term target level. Stability could have been achieved as a result of long-term structural “adjustment” by following long-term policies as follows:
1- Decrease in demand for the dollar due to the availability of agricultural or industrial GDP revenues as a substitute for imports.
2- Improvement in the balance of payments thanks to non-oil agricultural and industrial exports.
3- Structurally reforming the banking system and activating the role of monetary tools, especially the interest rate structure, in a way that restores the overall balance to its natural state without a split between what is real and what is monetary.
4. Reducing rentierism by diversifying the economy through allocating resources based on foreign trade to generate national surplus value. The result: more sustainable stability, as the economy becomes less dependent on external factors.
If the current balance remains in place, the dollar supply will still be vulnerable to depletion within a year of imports if oil exports cease due to wars and threats, for example, or if the economy is exposed to similar external shocks. Furthermore, reliance on reserve management and other stringent measures will not be sufficient to ensure long-term exchange rate stability.
In conclusion, while ensuring that the exchange rate stabilizes near its target level is a significant achievement for monetary policy, the absence of structural reforms, economic diversification, improving the business environment, combating corruption, and other factors will make any exchange rate stability vulnerable to reversal, particularly with oil price fluctuations, political crises, and external shocks. This underscores the importance of planning for long-term structural adjustment at the macroeconomic policy level.
King meets CEOs, representatives of Texas companies
His Majesty King Abdullah II on Thursday met with representatives of government organisations and companies in Texas, to discuss investment opportunities in Jordan and enhance economic cooperation in strategic sectors.
The meeting included CEOs and representatives of companies operating in energy, defence, high-value industries, real estate, infrastructure, technology, and future industries such as semiconductor manufacturing.
Texas is the eighth largest economy in the world with a GDP of $2.7 trillion, and is a leader in many industries and exports.
During the meeting, attended by His Royal Highness Prince Hashem bin Abdullah II, His Majesty expressed Jordan’s readiness to strengthen its strategic partnership with the United States and expand economic cooperation in priority areas for the benefit of both countries.
The King highlighted the rapid growth of Jordan’s economy, noting that the Kingdom is focusing on investment opportunities in high-value sectors such as green hydrogen, gas, renewable energy, natural minerals, digital services, and innovation, in line with the Economic Modernisation Vision.
His Majesty also spoke about Jordan’s advantages as an investment destination, including low manufacturing costs, supportive legislation, a skilled labour force, and free trade agreements that allow products to reach a large number of global markets.
The King said Jordan’s prudent fiscal policies and advanced infrastructure enhance the country’s economic competitiveness and ability to build effective partnerships, attracting global technology companies to invest and expand operations in the Kingdom.
His Majesty also highlighted promising opportunities for investment in a number of mega infrastructure projects, as well as healthcare, tourism, and education projects.
The meeting included representatives from Chevron Phillips Chemical, Eco Power Crypto, Cirrus Logic, Exela Technologies, Advanced Micro Devices, Texas Venture Alliance, Arbisoft, Hillwood – a Perot Company, Big Sky Medical, Hylio, Bell Flight, Saronic Technologies, Wheatly Consulting, and Raytheon Technologies.
Director of the Office of His Majesty Alaa Batayneh, Jordan’s Ambassador to the United States Dina Kawar, and Texas Secretary of State Jane Nelson attended the meeting.
Prior to the meeting, the King met with Texas Governor Greg Abbott to discuss ways to enhance cooperation
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Washington warns Israel: No Gaza surprises before Trump arrives
The United States has urged Israel to refrain from launching a large-scale military operation in Gaza, favoring a ceasefire instead, as President Donald Trump prepares for a high-stakes visit to the region, Israeli media reported on Friday.
According to the Hebrew-language daily Maariv, Washington delivered a blunt message to Israeli leaders: “Do not surprise us before Trump’s arrival.” Citing unnamed government officials, the report indicated that the White House is working to avoid an escalation that could derail Trump’s upcoming diplomatic agenda.
Sources further suggested that if Trump personally proposes a ceasefire, Prime Minister Benjamin Netanyahu could find it politically difficult to resist. One official told Maariv that rejecting such a move “may become nearly impossible,” while others speculated that Trump may use his visit to present a broader peace initiative—one viewed by several members of Netanyahu’s coalition as politically sensitive.
Meanwhile, a senior official criticized delays in Gaza operations, stating, “The government has wasted time—it may now be too late to launch a ground offensive before Trump arrives.”
Additional reports suggested that Trump is considering unveiling a regional peace proposal during his visit, a move that could place additional diplomatic pressure on Israel. A diplomatic source warned that rejecting the initiative could leave Israel isolated, asserting, “If Israel does not move forward with the US on a Gaza deal, it will be left alone.”
These developments come amid signs of rising tension between Washington and Tel Aviv over the war’s trajectory. On Thursday, Trump reportedly severed direct contact with Prime Minister Netanyahu, following concerns from his inner circle that the Israeli PM had been “manipulating” him.
Iranian Foreign Minister Anticipates Trump's Arrival in the Region, Visits Saudi Arabia and Qatar Tomorrow
The Iranian Foreign Ministry indicated in a statement published on its website on Friday that Araghchi will first travel to Riyadh "to meet and hold talks with senior Saudi officials."
She added that he will later visit Doha "to participate in the Arab-Iranian Dialogue Conference."
This comes as a fourth round of nuclear talks between Iran and the United States is likely to be held next Sunday in the Omani capital, Muscat.
US President Donald Trump is also scheduled to visit Saudi Arabia, Qatar, and the UAE next week.
Trump, who withdrew the United States from the 2015 nuclear agreement between Tehran and world powers, has previously threatened military action if his administration fails to reach an agreement to resolve the long-running dispute over Iran's nuclear program.
It is noteworthy that since April 12, the United States and Iran have begun indirect talks on the nuclear issue, mediated by Oman.
The two sides have held three rounds so far (two in Muscat and one in Rome), which were described as positive and constructive.
Iran and the United States resume nuclear talks on Sunday.
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Iranian Foreign Minister Abbas Araqchi said on Friday that his country has agreed to hold a fourth round of nuclear talks with the United States on Sunday in Oman, adding that negotiations are progressing.
US President Donald Trump, who withdrew his country from the 2015 nuclear agreement between Iran and world powers, threatened to bomb Iran if his administration did not reach an agreement to resolve the long-running conflict.
A source familiar with the matter said Friday that Trump's special envoy, Steve Witkoff, intends to attend the talks in Oman.
Western countries say that Iran's nuclear program is aimed at producing nuclear weapons, while Iran insists that it is purely for civilian purposes.
"The negotiations are making progress, and of course, the further we advance, the more we need further consultations and reviews," Araqchi was quoted as saying by Iranian state media.
"The two delegations need more time to study the issues at hand, but what's important is that we're moving forward and gradually getting into the details," he added.
In press statements to Breitbart News, Witkoff said that the Iranians have admitted that they do not want a nuclear weapon, and that Washington "will believe them" on this point.
"If that's how they feel, they have to dismantle their enrichment facilities. They can't have centrifuges. They have to down-mix all their fuel and send it somewhere far away, and they have to switch to a civilian program if they want to run a civilian program," he continued.
The fourth round of indirect negotiations, originally scheduled to be held in Rome on May 3, was postponed, with Oman citing "logistical reasons."
In a separate statement on Friday, Omani Foreign Minister Badr al-Busaidi said that after coordination with both Iran and the United States, the fourth round of negotiations is scheduled to be held on Sunday in Muscat.
Araghchi said his scheduled visit to Qatar and Saudi Arabia on Saturday comes as part of "ongoing consultations" with neighboring countries "to address their concerns and shared interests" regarding the nuclear issue.
Sunday is Iran's last chance? Witkoff: If the negotiations on Sunday are not fruitful, we will choose another path!
Steve Witkoff, the chief US negotiator in the nuclear talks with Iran, warned that if the fourth round of negotiations with Tehran is fruitless, Washington will take a “different path.”
In statements to Breitbart, Witkoff explained that Iran has agreed not to pursue a nuclear bomb, stressing that this pledge will be taken seriously. He indicated that the upcoming talks will address the need to dismantle Iran's enrichment facilities at Natanz, Fordow, and Isfahan, which includes shutting down all centrifuges.
Witkov added, "It is imperative that Iran completely cease uranium enrichment, ship enriched material to a remote location, and convert its nuclear program to a purely civilian one." He emphasized that Iran's military nuclear program must be completely dismantled.
He also stressed that next Sunday's talks would be decisive, explaining that if they failed, the United States would take a different course with Iran. He also noted that the talks may later include economic and cultural aspects, but that for now, the talks are limited to the nuclear issue alone.
"Iran is more fragile than it was ten years ago, when the first nuclear agreement was signed under Obama, so it must fully accept our terms," Witkoff continued, noting that any bad deal will not be accepted and that the United States is prepared to withdraw if the agreement with Iran is not strong and effective.
He added, "It would not be wise for Iran to test President Trump. We have a clear policy and will not tolerate any attempt to circumvent our conditions." He also touched on future pressure on Iran to stop funding and arming groups such as Hamas, Hezbollah, and the Houthis, but emphasized that these issues will not be part of the current talks.
Witkoff expects the upcoming Iran talks to be an opportunity to broaden understanding on cultural and economic issues, but the nuclear issue should not be overshadowed, as it must be resolved quickly, as the nuclear issue is the most important issue for US national security.
Omani Foreign Minister Badr al-Busaidi confirmed via the X platform that, after coordination with Iran and the United States, the fourth round of negotiations between the two countries is scheduled to be held on Sunday in Muscat.
Abbas Araqchi had previously stated that this round of negotiations would be held on Sunday.
The Iranian foreign minister said that progress in the negotiations requires more time for the delegations to study the issues at hand.
Previous rounds of negotiations were held in Oman and Italy. Both Donald Trump and Ali Khamenei expressed satisfaction with the progress of the negotiations, although Khamenei had previously announced that there would be no negotiations with the Trump administration.
Unprecedented tensions between Washington and Tel Aviv: Trump decides to cut off contact with Netanyahu
Israeli Army Radio reported on Thursday that people close to former US President Donald Trump informed Israeli Minister of Strategic Affairs Ron Dermer that Trump had decided to cut off contact with Prime Minister Benjamin Netanyahu.
The radio station reported that these close associates informed Dermer that Trump feels Netanyahu is manipulating him, noting that the US president hates nothing more than being seen as being manipulated.
The radio quoted an Israeli official as saying that Dermer had arrogantly spoken to senior Republican officials about how Trump would handle the Israeli issue, but his remarks were not well-received.
In the same context, Channel 12 reported that tensions between Washington and Tel Aviv have escalated, with a senior US official warning that the United States "will no longer wait for Israel," stressing that Trump is determined to move forward with a major strategic deal with Saudi Arabia even without Israeli participation.
Hezbollah's weapons are being disposed of... and Hamas has a final deadline!
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