Organized plunder: Kurdistan's profits go to American parties and companies

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Economic analyst Ahmed Al-Waili revealed on Thursday “secret and unconstitutional” clauses in oil contracts concluded by the Kurdistan Regional Government with American companies. He pointed out that these contracts are not in Iraq's best interests, but rather represent a systematic plunder of national wealth.

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Al-Waili told Al-Maalouma News Agency, “The agreements concluded by the regional government with American companies stipulate that 25% of the profits will be shared by the companies, while 75% will go to influential figures and ruling parties within the region, without a single dinar reaching the Iraqi state treasury.”

He criticized the regional government's "repeated demands for its share of the federal budget and employee salaries, while refusing to hand over oil revenues, ports, and taxes," emphasizing that "the federal government has fulfilled all its financial obligations, but the region is not abiding by any agreements and is instead using the revenues to build financial empires affiliated with powerful parties."

Al-Waili stressed that "this issue requires urgent intervention from parliament, the judiciary, and the Integrity Commission, with the aim of putting an end to tax evasion and looting and asserting autonomy over national resources."

Earlier, Ali Al-Mashkoor, a member of the Parliamentary Oil and Gas Committee, confirmed that the Kurdistan Regional Government and the Ministry of Natural Resources are not committed to international resolutions and agreements concluded between the federal government and the region. 

US calls on Baghdad to negotiate quickly: Iraq's independence from Iranian influence comes through Kurdistan's gas

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The US State Department considered, on Thursday, that the recent agreements concluded by the Kurdistan Regional Government with American companies to develop natural gas production constitute an important step towards addressing the chronic imbalance in the Iraqi energy sector, calling on Baghdad and Erbil to urgently coordinate to accelerate project implementation and enhance Iraq's energy independence.

A ministry official told Shafaq News Agency, "The United States believes that Iraq will be more stable and sovereign by achieving energy independence and distancing itself from Iran's harmful influence."

He added, "The agreements recently signed by Kurdistan Regional Government Prime Minister Masrour Barzani with American companies to expand natural gas production in Iraqi Kurdistan support this goal," noting that "these projects, whether in the region or across the rest of the country, are in the interest of all Iraqis, especially in light of the ongoing electricity crisis."

The US official continued, "We encourage Baghdad and Erbil to work together to begin gas production as soon as possible."

The Kurdistan Regional Government announced the signing of two agreements with American companies HKN Energy and WesternZagros to develop the Miran and Topkhana-Kurdimir fields in Sulaymaniyah Governorate, with a total value estimated at approximately $110 billion, in one of the largest deals in the region's energy sector.

The agreements aim to exploit natural gas resources more widely to meet the region's and Iraq's electricity needs and reduce reliance on Iranian gas imports.

The move sparked protests from the federal government in Baghdad, with the Iraqi Oil Ministry describing the agreements as "null and void," noting that natural resource management falls solely within the purview of the federal government.

Investment efforts in Iraq's energy sector face recurring legal and political challenges, given the absence of a federal law regulating the management of natural resources between the central government and the region.

The energy crisis is one of the most significant challenges facing Iraq, with most of the population suffering from frequent power outages, which worsen during the summer months. Iraq relies heavily on gas imported from Iran, at a time when supplies are affected by political and economic factors, most notably regional tensions and mounting debt issues.

Relations between Baghdad and Kurdistan have recently become strained, particularly after the signing of the gas contract with Washington. The Iraqi Ministry of Finance announced it would halt funding for the salaries of Kurdistan Region employees until May 2025, citing the region's exceeding its budget share and its failure to deliver oil and non-oil revenues to the federal government.

In contrast, the Kurdistan Regional Government (KRG) considered the decision politically motivated and a violation of the constitution and Federal Court rulings. The KRG asserted that Baghdad had failed to honor its financial commitments despite Erbil's previous commitments, and that the decision directly impacts more than 1.2 million employees ahead of Eid al-Adha.

Including artificial intelligence...the Association of Banks: Employing foreign expertise to enhance the capabilities of banking sector employees.

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The Iraqi Private Banks Association announced on Friday that it will complete training for banking sector staff by the end of the year, utilizing foreign expertise. It also confirmed the ongoing search for strategic partnerships with foreign banks.

The head of the Iraqi Private Banks Association, Wadih Al-Handhal, said in a statement to the Iraqi News Agency (INA): “Many issues were discussed during the recently held conference on combating money laundering and terrorist financing, the most important of which were the challenges facing Arab banks in complying with international laws and regulations and ways to meet the requirements of correspondent banks.” He indicated that “the conference discussed with experts, researchers, writers, and officials of Arab and foreign banks to develop a mechanism for cooperation in simplifying the procedures of Iraqi banks to deal with correspondent banks and how to consolidate the concept of technology and artificial intelligence in the use of banking operations as part of our work, and the most important thing is to search for strategic partnerships with foreign banks.”

Regarding bank automation, Al-Handhal explained, "Work is underway and the world is advancing at the speed of light. Many Iraqi banks are working to keep up, but it's not easy, because some human cadres in the banking sector need training and courses." He emphasized that "the Association of Banks, in cooperation with the Central Bank, has launched ongoing courses for banking cadres, but they will need some time, at least until the end of next year. However, work is ongoing and we are using foreign expertise from outside Iraq and adapting to it is ongoing."

Al-Sudani: The wheel of work and reconstruction will not stop.

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Prime Minister Mohammed Shia al-Sudani congratulated the Iraqi people on the occasion of Eid al-Adha, noting that the wheel of reconstruction will not stop .

Al-Sudani said in a post on the X platform, followed by Mail: "Dear Iraqis, Happy New Year. Another Eid is coming and our country is enjoying progress, prosperity, and development. With your great efforts, the wheel of work and reconstruction has turned and will not stop. May God protect Iraq and its people."

Economic Council: Broad interest from regional and international companies to participate in the Iraq Investment Forum.

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Iraqi Economic Council Chairman Ibrahim Al-Masoudi Al-Baghdadi affirmed on Friday that Iraq has become a destination for investment in the Middle East, thanks to the government's extensive support for investment and investors. Addressing the Iraq Investment Forum, he revealed widespread interest from regional and international companies to participate, noting that more than 250 investment opportunities will be showcased.

Al-Baghdadi told the Iraqi News Agency (INA): “This explains the change and geopolitical orientation towards Iraq, which has today become the investment destination in the Middle East,” noting that “just a year ago, we were facing great difficulty in inviting investors to attend conferences or forums inside Iraq, but today there is a widespread desire from important companies and countries from the Gulf, the Middle East, Europe, America and Arab countries to participate in the Iraq Investment Forum scheduled to be held on June 14 and 15.”

He added, "There is growing demand due to the abundance of quality and profitable opportunities, especially since Iraq has lived through long years of war, siege, and terrorism, creating an urgent need for all types of projects. Today, we are beginning to see the results of the hard work and efforts of the past years."

He explained, "Today's investor is looking for an unsaturated market. For example, building a five-star hotel in Dubai means competing with 650 hotels of the same category, while Iraq currently needs approximately 60 hotels, according to the Minister of Culture, Tourism, and Antiquities. This provides a golden opportunity for any investor to operate in an environment virtually devoid of competition."

Al-Baghdadi pointed out that "Iraq is the largest market in the region, and its environment has become attractive to investments," predicting that "the next ten to twenty years will witness Iraqi superiority in investment competition with countries in the region."

Regarding the Iraq Investment Forum, Al-Baghdadi explained that "the forum will showcase more than 250 investment opportunities, including 150 direct opportunities, 31 of which are in the electricity sector, and more than 15 in the oil sector, in addition to dozens of opportunities in industry, agriculture, transportation, information technology, industrial cities, and free zones." He noted that "the Ministry of Industry will showcase 97 opportunities within the partnership mechanism with its companies."

He explained that "these projects will contribute to creating thousands of job opportunities, and may reach hundreds of thousands in the coming years, as part of the National Investment Commission's plans."

First plane lands at Mosul airport highlighting rebirth of former ISIS capital

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Mosul, the capital of Iraq’s northern Nineveh province and once the declared capital of the Islamic State’s (ISIS) so-called caliphate, marked a major milestone in reconstruction efforts on Thursday as an aircraft successfully completed the first test landing at Mosul International Airport in over a decade.

Nineveh Governor Abdulqadir al-Dakhil, who was on board the test flight, described the moment as “historic” and “long awaited by the people of the province.”

Speaking to the state-run Iraqi News Agency (INA), Dakhil underlined that “the preparations for the inauguration of Mosul International Airport have been complete.”

In comments to INA, Dakhil confirmed that “preparations for the inauguration of Mosul International Airport have been completed,” adding that the facility’s navigational systems have been fully modernized. “A cargo section has been added, and the runway has been extended and equipped with advanced night lighting systems,” he noted.

“The airport will officially open soon.”

Originally established in 1920, Mosul International Airport spans approximately 1,600 dunams. Its recent reconstruction began in August 2022, when then-Prime Minister Mustafa al-Kadhimi laid the cornerstone of the project.

The total cost of the rehabilitation project is estimated at 200 billion Iraqi dinars (approximately $142.8 million), with half of the funding drawn from previously frozen provincial funds dating back to the war with ISIS.

Speaking to Rudaw, Ahmed Dubardani, a member of the Nineveh Provincial Council, confirmed that following Thursday’s test flight, the airport will begin “experimental operations” on June 10.

“Once fully operational, the airport is expected to become a major international gateway and to handle up to 550,000 passengers annually,” according to Al-Dobardani.

Mosul fell to ISIS in June 2014 during the group’s rapid territorial expansion across Iraq and Syria. The city became the epicenter of ISIS’s self-declared caliphate, with the airport among the many critical infrastructures rendered inoperable.

During its occupation, ISIS enforced a brutal and extremist interpretation of Sharia law, committing widespread human rights abuses, targeting religious and ethnic minorities, and destroying historical and cultural landmarks.

A large-scale operation to retake Mosul was launched in October 2016, led by Iraqi forces with vital support from the US-led Global Coalition. Kurdish Peshmerga forces also played a crucial role in the battle, securing key eastern and northern fronts, clearing surrounding areas, and severing ISIS supply lines into the city.

Mosul International Airport was recaptured in February 2017, and the city was officially declared liberated in July of that year.

The US State Department intervenes in the crisis between Baghdad and Erbil.

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 The US State Department considered the recent agreements concluded by the Kurdistan Regional Government with American companies to develop natural gas production an important step to address the chronic imbalance in Iraq's energy sector, calling on Baghdad and Erbil to urgently coordinate to accelerate project implementation and enhance Iraq's energy independence.

A State Department official said in a statement, "The United States believes that Iraq will be more stable and sovereign by achieving energy independence and moving away from the harmful influence of Iran."

He added, "The agreements recently signed by Kurdistan Regional Government Prime Minister Masrour Barzani with American companies to expand natural gas production in Iraqi Kurdistan support this goal," noting that "these projects, whether in the region or the rest of the country, are in the interest of all Iraqis, especially in light of the ongoing electricity crisis."

The US official continued, "We encourage Baghdad and Erbil to work together to commence gas production as soon as possible."

Araqchi: The Sultanate of Oman will announce the date of the next round of negotiations with the United States.

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Iranian Foreign Minister Abbas Araqchi announced on Friday (June 6, 2025) that the Sultanate of Oman will soon officially announce the date of the next round of indirect negotiations between Iran and the United States, as part of ongoing efforts to revive the stalled diplomatic track on the nuclear issue.

In a statement carried by Iranian media, Araghchi explained that "Muscat continues to play an effective mediating role between Tehran and Washington," stressing that the upcoming round will be based on "a new proposal Iran recently received from the US side," and that Tehran "is preparing its response in line with national principles and the interests of the Iranian people."

Araghchi confirmed that indirect negotiations between Iran and the United States are ongoing, and that the Sultanate of Oman continues to play an active mediating role in arranging the next phase of the nuclear dialogue. He added that the date for the next round has not yet been set, pending Omani-Iranian-American coordination.

In a striking comment on the Western accusations, Araghchi said, "Iran does not possess a nuclear bomb, but it knows exactly who possesses dozens of nuclear warheads!" in a direct reference to Israel.

He added, "Iran's nuclear program is entirely peaceful and based on scientific and religious foundations, and the Supreme Leader's fatwa prohibits nuclear weapons."

Araghchi expressed Tehran's satisfaction with "Egypt's support" in international forums, noting that the two countries share a unified stance against nuclear proliferation in the Middle East.

The Iranian official concluded by noting that Iran is open to a path of understanding, but will not relinquish its nuclear rights, adding, "We are not advocates of escalation, but we do not accept dictates."

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SAT JUN 7 25

140 trillion dinars enter the Iraqi treasury in one year, 91% of which comes from oil.

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 The Iraqi Ministry of Finance revealed on Saturday that the revenues in the 2024 federal budget exceeded 140 trillion dinars, confirming that oil contributed 91% of those revenues.

Shafaq News Agency reviewed the data and tables issued by the Ministry of Finance in May for the previous fiscal year's accounts, which showed that oil remains the primary source of revenue for Iraq's general budget, accounting for 91% of the total. This indicates that the rentier economy remains the foundation of the budget structure.

The tables indicate that total revenues in 2024 amounted to 140 trillion, 774 billion, 106 million, 157 thousand, and 464 dinars, while total expenditures amounted to 125 trillion, 214 billion, 440 million, 53 thousand, and 991 dinars.

According to the tables, oil revenues amounted to 127 trillion, 536 billion, 400 million, and 812 thousand dinars, representing 91% of the general budget, while non-oil revenues amounted to 13 trillion, 237 billion, 705 million, and 728 thousand dinars.

In this regard, economic expert Mohammed al-Hasani told Shafaq News Agency, "Iraq's reliance on oil for its public revenues indicates that the country is still suffering under the burden of a rentier economy, disguised unemployment, and other economic problems that constitute an obstacle to any progress."

He added, "Iraq needs major economic reforms focused on diversifying the economy, improving spending efficiency, and combating financial waste to ensure a sustainable economic future."

In March 2021, the Prime Minister's financial advisor, Mazhar Mohammed Salih, told Shafaq News Agency that the reasons for the economy remaining rentier are due to the wars and economic blockade imposed over the past decades, as well as the political conflicts Iraq is currently witnessing, which have led to the dispersion of economic resources.

The Iraqi state's continued reliance on oil as the sole source of its public budget exposes the country to the risk of global crises linked to oil markets. This forces it to cover its deficit through external or domestic borrowing each time. This indicates a weakness in the management of public funds and an inability to find alternative financing solutions.

US Representative to Iran International: Washington has a historic opportunity to end Tehran's influence in Damascus

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Corey Mills, the first US lawmaker to meet with interim Syrian President Ahmad al-Sharaa, said in an interview with Iran International that if the United States truly seeks to end the Iranian regime's influence in Syria, it must give the new rulers in Damascus a chance.

Speaking to the Iran International podcast "Eye on Iran," the Republican congressman emphasized that the key to success in this process is supporting interim President Ahmed al-Sharaa so he can eliminate the remaining Iranian regime influence within Syrian territory.

In his interview, Mills revealed that his trip to Damascus was not entirely safe. He said, "ISIS had a plan to assassinate me while I was in Syria," adding, "They even identified the location of the car bomb attack."

Despite these threats, Mills believes that the changing political landscape in Syria provides the United States with an unprecedented opportunity to participate in shaping a post-war future, "a future in which Iran is marginalized, new diplomatic channels are opened, and long-term regional stability is enhanced."

"By supporting Ahmed al-Sharaa, what do we really lose? But we know exactly what we would lose if the Iranian regime re-established a proxy government in Syria, and we are fully aware of what that would mean for the region and for our allies," Mills said.

According to Mills, the new leadership in Syria, just months after the Assad regime was toppled, is now working to uproot the Iranian regime's activities from the country.

He added that Damascus is expelling pro-Iranian forces, cutting off arms smuggling routes to Hezbollah, and seeking to establish new diplomatic relations in the region, including potential ties with Israel.

"Ahmad al-Sharaa will no longer allow the presence of proxy militias, as was the case during the Assad era," he said.

Syria for Syrians

Corey Mills considered this shift a diplomatic and economic opportunity for the United States, emphasizing the importance of Washington not leaving the current vacuum to be filled by Russia, China, or Iran.

"It would be great if we could actually open the doors to contracts and infrastructure rebuilding projects," he said.

He pointed to areas such as water, electricity, and communications, adding that "this is one of the most strategic geographical locations in the entire region."

He emphasized that such cooperation not only contributes to confronting tyranny, but also provides opportunities for American companies, enhances regional stability, and prevents Syria from slipping back into sectarian conflict.

Mills added, "The Iranian people can learn a lot from what's happening in Syria now. This change can happen to them as well, but it must be a change stemming from an internal Iranian strategy, not an imposed American strategy."

Speaking to Iran International, Corey Mills emphasized the need to adopt a realistic approach to dealing with Sharia, saying, "Trust, but verify."

He added, "I think he knows exactly what is required of him. So far, his actions have not been just promises; they have been concrete steps."

Diplomacy and regional stability

Mills confirmed that Ahmed al-Sharaa cautiously expressed his willingness and interest in normalizing relations between Syria and Israel.

Despite reports of some talks, Damascus and Tel Aviv have yet to hold any formal dialogue. However, the mere willingness to engage in such dialogue represents a significant shift from the Assad era, which was characterized by hostility toward Israel and an alliance with Iran and Hezbollah.

"He has made it clear that he is considering establishing good relations with Israel, and he is fully aware of the risks involved in that option," Mills said.

The US Republican congressman concluded by emphasizing the need to respect Syria's sovereignty in any future settlement, adding, "I am against dividing independent territories. I believe clear borders make for good neighbors."
Mills visited Damascus at the end of April, where he met with Ahmed al-Sharaa for 90 minutes.

Upon returning from the visit, he told Bloomberg that he carried a personal message from Ahmed Al-Sharaa addressed to US President Donald Trump.

This visit came as part of an unofficial fact-finding mission organized by a number of influential Syrian-Americans.

Sanctions and New Leadership in Syria

Until recently, interim Syrian President Ahmad al-Sharaa was subject to US sanctions, and Washington had offered a reward for any information leading to his arrest due to his past collaboration with al-Qaeda.

However, during Donald Trump's visit to Saudi Arabia—and at the request of Saudi Crown Prince Mohammed bin Salman—the US administration not only lifted sanctions on Syria, but Trump himself also met with Ahmed al-Sharaa.

 

Al-Mashhadani meets Bin Salman during his visit to perform Hajj.

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A call for relations befitting the two peoples

Parliament Speaker Mahmoud al-Mashhadani met with Saudi Crown Prince Mohammed bin Salman in Mecca on Saturday, where they discussed bilateral relations and ways to enhance cooperation to serve the interests of both peoples.

Parliament Speaker Dr. Mahmoud Al-Mashhadani met with Saudi Crown Prince Mohammed bin Salman on Saturday during his visit to the Kingdom of Saudi Arabia to perform Hajj.

The meeting discussed the relationship between the two countries and common interests.

President Al-Mashhadani emphasized the depth of Iraqi-Saudi relations and the need to work to strengthen them to a level befitting the two brotherly peoples.

 

Iran claims massive intel breach into Israeli nuclear files

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On Saturday, Iran announced its largest intelligence operation “in history” against Israel, alleging the retrieval of highly sensitive documents, including files related to nuclear infrastructure.

According to Iranian state media, the operation was carried out by the Ministry of Intelligence and involved the covert transfer of a “massive and complex” cache of classified Israeli documents into Iranian territory, including material on strategic sectors and critical facilities.

Authorities stated that the volume of information remains under review, requiring significant technical analysis due to its scale and complexity.

The timing of the operation was not disclosed, however, the announcement followed Israeli media reports of the arrest of two Israeli nationals—Roy Mizrahi and Almog Atias—in the northern city of Nesher by Israel’s Shin Bet intelligence agency.

The arrests were linked to national security charges and suspected contacts with Iran, but no official link between the two developments has been confirmed.

Israel has not responded publicly to the Iranian claims, and its intelligence agencies have not issued any statements.

The announcement comes amid renewed nuclear negotiations between the United States and Iran, and Israeli officials’ concern over Iran’s “nuclear activities”, signaling readiness for potential military action if talks fail.

MP: The results of the Baghdad Development Summit on Iraq will be revealed soon.

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Member of Parliament Mohammed Al-Ziyadi confirmed today, Saturday, June 7, 2025, that the results of the Baghdad Summit, which witnessed effective Arab participation, will appear soon.

Al-Ziyadi told Baghdad Today, "Iraq does not want to make the results 'ink on paper' like the previous Arab summits, but rather wants to translate those results into reality, especially economic and developmental issues, and for this reason they will be translated soon, especially in Iraq."

He added, "Iraq has become a fertile economic and developmental land at various levels, and there is a strong regional and international will to enter the Iraqi arena for investment and economic activity, which will strengthen its economic and financial position in the coming period."

On May 17, the capital, Baghdad, hosted the Arab League Summit and the fifth Arab Economic and Social Development Summit.

In its closing statement, the development summit affirmed its firm commitment to supporting joint Arab development action, strengthening Arab solidarity, and achieving economic and social integration among Arab countries.

The Development Summit approved the Arab Food Security Strategy for the period (2025-2035), calling for the mobilization of energies and resources to implement it, ensuring the achievement of Arab food security to confront current and future challenges.

She stressed the importance of developing the Greater Arab Free Trade Area and fulfilling the requirements for establishing the Arab Customs Union, calling for the removal of all obstacles to achieving this strategic goal.

Ammar Al-Mashat: Iraq needs to create a more attractive investment environment.

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Economic expert Ammar Al-Mashat stressed the need to create a more attractive investment environment in Iraq.

Al-Mashat said the country requires a large-scale effort capable of absorbing global and international efforts, noting that, at the same time, specialized international companies are looking to work within Iraq.

He pointed out that the private sector has begun providing all the equipment required for work in all sectors, and this is credited to the efforts of the national private sector.

He pointed out that agents of international companies specializing in heavy equipment in Baghdad provide all the requirements of investment companies.

An Israeli newspaper reveals the sources of dollar smuggling to Iran.

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The Israeli newspaper GNS revealed in a report published today, Friday, June 6, 2025, details of the additional economic sanctions imposed on Iran today, which included approximately 30 individuals and entities accused of smuggling dollars for the Iranian government and violating the economic sanctions imposed by Washington on Tehran.

The newspaper reported, as translated by Baghdad Today, that the Iranian government, through a "shadow banking network," was able to circumvent US sanctions and establish shell companies through which it sold its oil products, obtained dollars, and then smuggled them into the country via intermediaries in the UAE and Hong Kong.

It's worth noting that press reports published last week identified Iraq as a source of dollar smuggling to Iran. The newspaper noted that although smuggling operations continue from several countries, including Iraq, the UAE and Hong Kong remain the largest sources of flow, according to the report.

To view the text of the report, click here.

US sanctions Iranian ‘shadow banking’ network laundering billions

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“Iran’s shadow banking system is a critical lifeline for the regime through which it accesses the proceeds from its oil sales, moves money, and funds its destabilizing activities,” the U.S. treasury secretary said.

A meeting table in the Blue Salon of the Palais Coburg Hotel in Vienna, Austria, awaits U.S. Secretary of State John Kerry and Iranian Foreign Minister Javad Zarif before their meeting on Jan. 16, 2016, about the implementation of the Joint Comprehensive Plan of Action outlining the shape of Iran's nuclear program. Credit: U.S. State Department/Public Domain

 

The U.S. Treasury Department announced sanctions on Friday against more than 30 people tied to three Iranian brothers, who run “a sprawling network of front companies” that have laundered billions of dollars via the regime’s “shadow banking” network.

“The regime leverages this network to evade sanctions and move money from its oil and petrochemical sales, which help the regime fund its nuclear and missile programs and support its terrorist proxies,” the department stated.

“Iran’s shadow banking system is a critical lifeline for the regime through which it accesses the proceeds from its oil sales, moves money and funds its destabilizing activities,” stated Scott Bessent, the U.S. treasury secretary.

Bessent added that the department “will continue to leverage all available tools to target the critical nodes in this network and disrupt its operations, which enrich the regime’s elite and encourage corruption at the expense of the people of Iran.”

The Iranian shadow network, which the Treasury Department said is made up of “numerous” elements—like the brothers Mansour, Nasser and Fazlolah Zarringhalam—helps sanctioned people and organizations tied to the Iranian regime access the international financial system.

It also enables “international exports, the proceeds of which fund Iran’s military and its terrorist proxies,” per the department.

“The system operates as a parallel banking system, in which settlements are brokered through Iran-based exchange houses that use front companies outside of Iran, primarily located in Hong Kong and the United Arab Emirates, to make or receive payments on behalf of sanctioned persons in Iran,” the department said.

“To justify payments for sanctioned goods, shadow banking brokers may generate fictitious invoices or transaction details,” it said. “Front companies are created in jurisdictions with lower levels of regulatory supervision so that they can avoid scrutiny of their business practices or ownership.”

The Iranian people suffer from the shadow banking system, per the department. “Iranian whistleblowers have highlighted instances of Iranian government agents embezzling billions of dollars and other acts of corruption through this banking network,” it stated.

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Organized plunder: Kurdistan's profits go to American parties and companies

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