US official: Trump prefers a deal to war and intends to inform Netanyahu
A White House official said on Monday that US President Donald Trump's goal at this stage is to "end the war," explaining that he intends to inform Israeli Prime Minister Benjamin Netanyahu of this.
The video for this My FX Buddies Blogpost is below here:
"We want a deal, we don't want a new war," the official told Axios.
This development came after the Iranian strike on Al Udeid Air Base in Qatar this evening, in response to the unprecedented US attack on Iranian nuclear facilities two days earlier. According to US sources, Iran launched 14 ballistic missiles, 13 of which were shot down, while one landed in an uninhabited area near the base without causing any damage.
In his first comment, President Trump said in a post on Truth Social: "I thank Iran for giving us early warning, which allowed us to be fully prepared. No one was hurt, and minimal damage was caused." He described the attack as a "very weak response," adding: "Iran has had its way, and we hope there is no more hatred."
Trump asserted that the Iranian attack was "effectively repelled," emphasizing that he does not intend to be drawn into a wider confrontation. He continued, "Perhaps Iran can now move toward peace and harmony in the region, and I would enthusiastically encourage Israel to do the same."
A statement issued by Iran's Supreme National Security Council indicated that the number of missiles launched toward Al Udeid Air Base was equivalent to the number of bombs used by Washington to strike Iranian nuclear sites, an implicit signal of Tehran's desire to maintain deterrence without escalating.
While Qatar confirmed that its air defenses successfully intercepted the missiles and announced the evacuation of the base in advance, the Qatari Ministry of Foreign Affairs strongly condemned the attack and called for calm and a return to the negotiating table.
This attack marks the first direct targeting of a US military facility by Iran since the start of the current confrontation, but it also offers initial indications of a possible opening to de-escalation through diplomatic channels.
Iranian advisor: There is no ceasefire...the Zionists are in trouble.
so let's wait and see what is reported tomorrow
An Iranian official confirmed that there is no ceasefire.
Mohammad Marandi, media advisor to the Iranian nuclear negotiating team, said in a tweet on the X platform early Tuesday morning, "There is no ceasefire. It is fake news; the Zionists are in trouble."
Washington warns of "economic suicide" if Iran closes the Strait of Hormuz
About 5,000 foreign oil workers exit Iraq amid Iran–Israel conflict
Thousands of foreign workers employed by international oil companies in Iraq’s Basra province have left the country due to escalating regional tensions following US airstrikes on Iranian nuclear facilities, a senior oil official told Shafaq News on Sunday.
According to the source, a total of 4,860 foreign employees have departed oil sites in southern Iraq since the strikes—part of a wider conflict triggered by Israel’s military campaign and Washington’s direct involvement.
“Approximately 1,700 workers from British Petroleum (BP), 1,000 from France’s TotalEnergies, and 700 from the US-based Schlumberger have exited their sites,” the official said.
In addition, 560 personnel from Italy’s Eni, 500 from Kuwait Energy, and 400 from ExxonMobil have also left their posts in Basra. The source attributed the departures to security concerns stemming from the conflict between Iran and Israel, as well as the heightened risks following the US strikes on key Iranian nuclear facilities in Fordow, Natanz, and Isfahan.
While Iraq has not been directly targeted, fears are mounting that its strategic energy sector could become collateral in the broader regional fallout. The mass withdrawal of foreign technical staff raises concerns about operational continuity in one of the world's most oil-rich provinces.
The Ministry of Oil has not yet issued an official statement on the departures.
Iraq is bleeding economically: a crisis in the air and "huge" losses on the ground.
Iraq is incurring massive daily economic losses due to the continued closure of its airspace to civil aviation. This comes amid the ongoing military escalation between Iran and Israel, which has cast a heavy shadow over the country's air transport, tourism, and investment sectors. While relevant authorities are assessing the damage, calls are growing for diplomatic solutions that would mitigate the escalation of the crisis and preserve national sovereignty and interests.
Since the Iraqi authorities announced on May 13 that they were suspending all civilian and military flights "until further notice" due to security concerns stemming from the regional escalation, a silent economic crisis has begun to emerge, threatening one of Iraq's most important sovereign resources: airspace overflight fees.
According to experts and officials, Iraq is losing hundreds of thousands of dollars daily due to the suspension of air traffic, amidst a lack of a clear vision for when airspace will reopen or a mechanism for dealing with the escalating financial repercussions.
In this regard, aviation expert Firas Al-Jawari revealed that Iraq lost nearly $3 million in just ten days of its airspace being closed. This amounted to revenues previously generated daily from the passage of approximately 700 foreign aircraft, at an estimated rate of $300,000 per day.
The Iraqi Civil Aviation Authority issued an official statement announcing the temporary closure of Iraqi airspace to civil aviation, noting that the decision is a precautionary measure to preserve air traffic safety amid rapidly evolving regional developments.
As the hours passed, it became clear that the closure would not be as short-lived as many had imagined. Within a short period of time after the first statement, another air traffic circular (NOTAM ORBB A0373/25) was issued confirming the continuation of the closure until further notice.
Airlines around the world, from Qatar and the UAE to Turkey and Germany, have begun suspending flights to Iraqi airports in Baghdad, Basra, Najaf, and Erbil, diverting their flight routes to alternative routes via Saudi Arabia, Jordan, Egypt, and elsewhere.
Speaking to Al-Eqtisad News, Al-Jawari explained that revenues were calculated at $450 per aircraft crossing Iraqi airspace. He noted that these revenues have completely ceased since the start of the lockdown, dealing a severe blow to the civil aviation budget.
But the losses do not stop there, according to Al-Jawari. They extend to air cargo companies, Iraqi Airways, airports, and air routes, which are now facing increasing operational and financial challenges.
He pointed out that flights currently operating from Basra Airport incur additional costs due to being forced to use longer routes, which increases fuel consumption, crew working hours, and places additional pressure on aircraft maintenance schedules.
Regarding the indirect repercussions, Al-Jawari emphasized that the tourism sector has suffered a severe blow, particularly religious tourism in the provinces of Najaf and Karbala, which rely heavily on the influx of visitors from abroad. Demand for eco-tourism and nature tourism has also declined in the Kurdistan Region, significantly impacting hotels, restaurants, and internal transportation services.
It's worth noting that Iraq's neighboring countries, namely Jordan, Lebanon, and Syria, have announced similar measures, but they were less severe than Iraq's decision. Amman and Beirut limited their airspace to a temporary suspension during the night or at certain times, then reopened their airspace during the day the next day. Today, their airspace is partially open, but Iraq remains the only country, along with Iran and Israel, to completely close its airspace.
For its part, the Parliament's Transportation Committee announced that Iraq is losing more than $250,000 per day due to the suspension of air traffic.
Committee member MP Amer Ismail said that Iraq has not only lost transit revenues, but also revenues related to direct air traffic, such as tickets, ground services, and airline profits.
Ismail stressed the need for the Ministry of Transport and the Ministry of Foreign Affairs to take action to find a political and diplomatic path that preserves Iraq's sovereignty and prevents it from falling into the consequences of conflicts in which it has no stake, warning that the continuation of the current situation threatens the future of the aviation sector and weakens investor confidence in the aviation infrastructure.
A member of the Parliamentary Transport Committee called on the government to prepare a comprehensive report on the economic damage, document it, and submit it to the United Nations in a memorandum of protest demanding compensation for damages related to the regional conflict.
This closure comes in the wake of a dangerous escalation in tensions between Israel and Iran, which culminated on June 13, 2025, when Israel launched a surprise missile attack on sites inside Iran, prompting Iran to respond with a series of massive missile strikes against Israeli targets.
For its part, the European Aviation Safety Agency (EASA) issued a clear assessment in which it deemed Iraqi airspace a high-risk area for civil aviation.
The agency's latest update stated, "Due to the ongoing military escalation in the region, there is an extremely high risk to civil aviation within the airspace of Iraq, Iran, Lebanon, and Syria. The agency recommends avoiding the use of airspace at all levels and altitudes until further notice."
This warning, known as a Conflict Zone Information Bulletin (CZIB), is usually issued in situations where EASA believes there is a real possibility that civil aircraft will be directly or indirectly harmed as a result of armed conflict, lack of adequate airspace control, or the use of airspace for undeclared military operations.
MP sues government over delay in sending budget tables to parliament
Member of Parliament Hadi Al-Salami revealed on Monday that a lawsuit has been filed against the government for not submitting the 2025 budget schedules to Parliament.
Al-Salami said in a video that "the government violated Article 62 of the Constitution, Financial Management Law No. 6 of 2019, and Budget Law No. 23 of 2023," noting that "these violations negatively impacted the lives of citizens."
Al-Kanani: Closing the Strait of Hormuz will lead to an economic catastrophe
Economic expert Nasser Al-Kanani explained on Monday that proceeding with the decision to close the Strait of Hormuz amid the ongoing escalation in the region would lead to an economic catastrophe.
Al-Kanani told Al-Maalouma, “The Strait of Hormuz controls all existing exports and imports, whether oil or other goods, for more than one country, including Iraq, which would be most affected if the strait were to be closed, as Iraq relies on a rentier economy.”
He added, "Iraq relies on oil sales to generate revenue, while all attempts to diversify revenues have failed. Internal revenues are not included in the budget, even though they amount to no less than 40 billion dinars."
He explained that "closing the strait will lead to an economic catastrophe in Iraq, especially since the budget is suffering from a deficit of up to 110 trillion dinars, at a time when Iraq needs 90 trillion dinars to secure salaries, in addition to projects that are still being worked on. Moreover, there are 80 entities requesting large sums from Iraq in addition to internal debts.
Now... Iran is bombing Qatar
Escalation in the Middle East: Iran launches attacks and closes regional airspace
The region has witnessed a major escalation, with reports that Iran launched a retaliatory operation, "Bisharat al-Fatah," targeting US bases in Qatar and Iraq. This comes after Iran vowed to respond to the US aggression, stressing that any attack on its sovereignty would not go unanswered.
Key developments include:
Strikes on Al Udeid Air Base: Iranian media, including state television, reported a "strong response" against the United States, specifically targeting Al Udeid Air Base in Qatar. The Qatari Ministry of Defense confirmed that its air defenses intercepted a missile attack targeting the base, and explosions were heard in Doha.
US casualties: A US official stated that he was aware of the Iranian missile attack on Qatar, but that no US casualties were recorded.
Regional airspace closures: Iraq announced the closure of its airspace, including the southern region, to aircraft traffic.
Kuwait suspended flights due to "regional developments."
Bahrain also announced the temporary closure of its airspace. Bahraini television called on citizens not to occupy main roads as it declared a state of alert.
US base in Syria on high alert: A Syrian security source reported that the US base in Syria was on high alert.
Iranian justifications: The Iranian Revolutionary Guard stated that "the US aggression showed that the crimes of the Zionists are an extension of Washington's schemes." Iran also asserted that its operations were free of any threat or danger to "the friendly and brotherly country of Qatar and its people."
Qatari condemnation: Qatar strongly condemned the attack on Al Udeid Air Base.
Axios report: Axios reported that Iran launched six missiles at US bases in Qatar.
Economist: $1 billion enters the Iraqi treasury monthly as a result of the war, but...
Economist Nabil Al-Marsoumi confirmed on Monday that Iraq stands to gain from the Israeli-Iranian war, warning that exports could reach zero as a result of the closure of the Strait of Hormuz.
Al-Marsoumi said in a statement monitored by Al-Masry that "Iraq is one of the major beneficiaries of this war," explaining that "every $10 increase in the price of a barrel means more than $1 billion in additional revenues for Iraq per month."
Al-Marsoumi warned of dangerous scenarios, most notably the closure of the Strait of Hormuz, which could bring Iraqi oil exports to zero, especially since 91% of Iraqi budget revenues depend on oil. This portends an economic catastrophe should the war continue.
Oil prices rose on Monday, with Brent crude reaching $79.20 a barrel and West Texas Intermediate crude reaching $75.98, following a US attack on Iranian nuclear facilities amid fears of energy supply disruptions and a potential closure of the Strait of Hormuz, through which a fifth of global oil production passes.
Ambitious government measures to attract foreign investment
Iraq has intensified its efforts to diversify its economy and move away from the rentier economy that has severely impacted many vital sectors, particularly agriculture and industry. This has prompted those responsible for formulating economic policy to develop a roadmap that includes numerous advantages aimed at attracting foreign investment, including significant tax and legal amendments.
Diversifying the economy
Khaled Al-Jaberi, a member of the Higher Committee for Implementing Tax Reform, told Al-Sabah that about 87 percent of Iraq's budget revenues come from the oil and gas sector, a very high percentage compared to its regional counterparts such as Saudi Arabia (56 percent) and the UAE (40 percent). He indicated that although oil and gas will remain important to the Iraqi economy, Prime Minister Mohammed Shia Al-Sudani has repeatedly stressed the need to diversify the economy to build a solid foundation that gradually moves away from the rentier nature that relies on a single sector characterized by price volatility in global markets.
Weak investments
Al-Jaberi believes that one of the obstacles hindering economic growth in Iraq is the weak volume of foreign investment outside the oil and gas sector. He points out that for this reality to change, Iraq must transform its approach to foreign investors, creating a competitive and attractive environment. This is particularly true in light of the fierce competition among countries to attract foreign investment and offer incentives to investors. This requires a shift in the way we view and approach investment.
Al-Jaberi pointed out that one of the vital areas that must be focused on is reforming the tax system, with its two aspects, tax policy and tax administration. Investors are interested in understanding the tax system and how it works, because the taxes they pay constitute an important part of the channels into which their net investment profits will be divided. He explained that progress has been made in this area, as the Prime Minister has made this file one of his priorities, and launched a plan for the purpose of tax reform in Iraq and formed a higher committee to follow up on the implementation of tax reform, headed by Dr. Abdul-Hussein Al-Anbaki, for this task.
tax law
Al-Jaberi continued, saying that the committee formed by the Prime Minister has achieved positive results, most notably the new tax law, which will address many of the problems in the current law, encourage the business environment, and stimulate non-oil businesses, thus increasing public revenues. It can also resolve outstanding issues that have existed since 2011 between the General Tax Authority and oil companies, a matter that conflicts with modern tax and accounting standards and raises concerns for any foreign entity wishing to enter the investment field in Iraq.
Governance system
A member of the Higher Committee for Implementing Tax Reform explained that investors place great importance on the public governance system, particularly in the area of taxes. Fair treatment, clear procedures, and respect for the law are essential elements for gaining investor confidence. He added that the government always affirms its full commitment to respecting the terms of contracts concluded with international oil companies, particularly those related to taxes. He emphasized the adoption of the opinion of international experts who call for the Higher Committee for Monitoring the Implementation of Tax Reform to transform into an advisory council for formulating tax policies in Iraq. The General Tax Authority is the executive body for these policies, as is the practice in other countries around the world. This will help define tasks in a more professional manner and make all procedures crystal clear.
Prime Minister's directives
Al-Jaberi explained that, in accordance with the Prime Minister's directives and following his inspection tour of the tax administration, Iraq has authorized the Supreme Committee for Implementing Tax Reform to engage with three major international companies to advance the automation of tax administration, a crucial and fundamental step in developing the economic environment.
private sector
In turn, Daniel A. Witt, president of the Center on Taxation and International Investment in Washington, stated that Iraq has begun economic reforms and is now focusing on investing all idle resources in true partnership with the private sector, which is one of the most important steps toward increasing the sector's contribution to the gross domestic product. He explained that Iraqi interest is represented by the formation of a permanent Private Sector Development Council, which will serve as a link between the private and public sectors.
Witt told Al-Sabah that the fundamental transformation and relentless efforts to develop the financial legislation system and administrative procedures and mechanisms consistent with the implementation of these legislations, especially with regard to amending the structure of the banking system and the tax system, stressing that this sends positive signals to the business environment in Iraq, and shows the extent of the government's seriousness in implementing radical economic reforms for the purpose of providing a reassuring environment. For investors.
Iraq counts its air losses: $9 million due to the regional crisis
Zahra Al-Bajjari, head of the Parliament's Transport and Communications Committee, announced on Monday that Iraq's losses from the closure of its airspace due to the Iran-Israel war are estimated at approximately $9 million.
Al-Bajari said: “Iraq lost a lot of money as a result of the Zionist aggression against the Islamic Republic of Iran. We are talking about losses in navigation, airports, and Iraqi airlines. As for navigation, monthly revenues were 10 billion Iraqi dinars (about 7 million dollars), and during the past two weeks, Iraq’s loss from the lack of navigation in Iraqi airspace was 5 billion Iraqi dinars (3.8 million dollars).”
She added: “As for airports, losses range between 6 and 7 billion Iraqi dinars (about 5 million dollars), and as for Iraqi Airways, they are operating at approximately half capacity. Basra Airport is operating and so are the airlines, so the losses there are less, but these losses are cumulative, and thus Iraq is among those affected by the Zionist aggression against the Islamic Republic of Iran.”
Regarding the possibility of reopening Iraqi airspace in the coming days, Al-Bajari explained, "This issue does not concern Iraq alone, but rather there are international resolutions regarding whether the airspace is safe or not. Currently, the airspace is unsafe due to the passage of drones and missiles through Iraqi airspace, and this is a violation of Iraqi sovereignty. We condemn and reject this aggressive violation."
The Iraqi Ministry of Transport announced at dawn on June 13 a complete suspension of air traffic at all Iraqi airports and the temporary closure of Iraqi airspace to ensure the safety of travelers amid regional security tensions.
The Iraqi government filed a complaint with the UN Security Council against Israel's violation of its airspace during the attack on Iran.
European countries are pushing to retrieve gold reserves stored in the United States
US President Donald Trump's rhetoric against the Federal Reserve, coupled with escalating geopolitical tensions, has reignited debate in Europe about the need to repatriate gold reserves held in the United States, particularly by Germany and Italy.
In statements to the Financial Times, Fabio De Masi, a former member of the European Parliament for the German Left Party, said there are strong arguments for returning a larger portion of Europe's gold reserves, especially in light of what he described as "challenging times."
Germany and Italy hold the second and third largest gold reserves in the world after the United States, holding 3,352 tons and 2,452 tons of gold, respectively, according to data from the World Gold Council.
A large portion of these reserves are stored in the vaults of the Federal Reserve in New York, where their market value is estimated at approximately $245 billion, according to the Financial Times.
President Trump recently hinted at the possibility of interfering in the Federal Reserve's policies if it does not cut interest rates, raising concerns about the US central bank's independence.
Earlier, US President Donald Trump stated that he would blame the Federal Reserve for any economic weakness resulting from his trade war if the central bank did not cut interest rates soon, according to the Wall Street Journal.
According to the newspaper, Trump "may also seek to delegitimize the historically independent institution in a way that could undermine its effectiveness."
The Asian countries most affected by the closure of the Strait of Hormuz
About 84% of the oil transiting the Strait of Hormuz off the coast of Iran is destined for Asian countries, most notably China, India, South Korea, and Japan. These economies are highly sensitive to any restrictions on maritime navigation if the conflict in the Middle East escalates.
In the first quarter of the year, 14.2 million barrels of crude oil per day, along with 5.9 million barrels per day of other petroleum products, passed through this strategic strait, representing nearly 20% of global production, according to the US Energy Information Administration (EIA).
The Strait of Hormuz is the only export route for crude oil from Saudi Arabia, the UAE, Iraq, Kuwait, Qatar, and Iran.
Below are the main Asian countries to which oil exports transiting the strait are destined.
- China -
According to experts' estimates, more than half of the oil imported to East Asia passes through the strait.
This is particularly the case for China, which imported 5.4 million barrels of crude oil per day through the strait in the first quarter of the year, according to the US Energy Information Administration.
Last year, Saudi Arabia was China's second-largest oil supplier, with 1.6 million barrels per day, representing approximately 15% of its total imports, according to the same source.
Iran itself is a major source of hydrocarbon imports from China. In April, Iranian imports to China reached 1.3 million barrels per day, according to Kpler. The bulk of these imports are destined for small Chinese refineries (known as teapot refineries) that operate independently of state-owned oil companies, allowing these large groups to evade US sanctions.
According to Kepler, China buys more than 90% of Iran's oil exports.
- India -
In the first quarter of the year, India imported 2.1 million barrels of crude oil per day through the Strait of Hormuz, according to data from the US Energy Information Administration.
India relies heavily on this strategic crossing, as Middle Eastern countries, particularly Iraq and Saudi Arabia, supplied India with approximately 53% of its oil imports by early 2025, according to local economic press. This places New Delhi in a critical position amid escalating tensions in the region, despite the increase in Russian oil imports to India over the past three years.
"We will take all necessary measures to ensure stable fuel supplies to our citizens," Indian Oil Minister Hardeep Singh Puri said on Twitter.
"We have diversified our supply sources in recent years... Our distributors have enough reserves to last for weeks and rely on several supply routes," he said, without providing further details.
- South Korea -
According to national oil sector figures, approximately 68% of South Korea's crude oil imports pass through the Strait of Hormuz, or approximately 1.7 million barrels per day, according to estimates by the U.S. Energy Information Administration.
South Korea is particularly dependent on Saudi Arabia, which last year supplied a third of its oil imports, making it the country's largest oil supplier.
"There are currently no disruptions to South Korea's crude oil and liquefied natural gas imports, but a supply crisis could emerge depending on how the situation develops," a statement from the South Korean Ministry of Energy said.
The statement indicated that "the government and relevant authorities in the sector have prepared for emergencies, maintaining a strategic oil reserve equivalent to approximately 200 days of supplies and a sufficient stock of liquefied natural gas."
- Japan -
Japan imports 1.6 million barrels of crude oil per day through the Strait of Hormuz, according to the US Energy Information Administration.
According to Japanese customs data, 95% of the crude oil imported into the archipelago last year came from the Middle East.
Energy shipping companies in the country have begun adapting their arrangements. Mitsui OSK Group told AFP, "We are taking measures to reduce our vessels' stays in the Gulf as much as possible."
- Other countries -
Other countries in Asia imported 2 million barrels of crude oil per day through the Strait of Hormuz in the first quarter of the year, most notably Thailand and the Philippines. However, Europe (0.5 million) and the United States (0.4 million) also had a share of the oil transiting the strait.
- Limited alternatives -
Asian countries may try to diversify their supply sources, particularly by increasing purchases of American oil, but it is impossible to replace the total amount imported from the Middle East.
In the short term, "global oil reserves, OPEC+ production inventories, and US shale gas production may provide relative protection," according to experts at MUFG Bank.
Saudi Arabia and the UAE have infrastructure that allows them to bypass the Strait of Hormuz, which could limit the scope of any disruptions. However, the transit capacity, estimated by the US Energy Information Administration at approximately 2.6 million barrels per day, remains very limited.
The Ghoreh-Jask export pipeline, built by Iran for exports via the Gulf of Oman and not used since last year, has a maximum capacity of only 300,000 barrels per day, according to the US Energy Information Administration.
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Simultaneous attacks target military bases and US forces in Iraq
A security source reported on Tuesday that military sites and other sites housing US forces in Iraq were subjected to a series of simultaneous attacks, including a drone attack targeting the vicinity of Baghdad International Airport and another missile attack targeting Ain al-Assad Air Base in the west of the country, with no casualties reported.
The source explained to Shafaq News Agency, "Air defense systems intercepted drones that attacked sites within the vicinity of Baghdad International Airport."
In another attack, the source said, "A number of drones also attacked the Ain al-Assad base in the al-Baghdadi district of Anbar province," noting that "defense systems also repelled the attack."
A drone attack targeted the Taji base north of Baghdad, targeting an Iraqi army radar.
No group has claimed responsibility for the attacks at the time of writing, although information indicates similar attacks occurred at the Imam Ali base in southern Iraq and another at the Balad base in Salah al-Din Governorate.
The factions are thinking beyond emotions and giving Washington a second chance before responding!
link
Political ambition hinders the movement of armed groups to assist Tehran.
More than 48 hours have passed since the attacks on the Iranian reactors, and Tehran has not responded to the United States, nor have the Iraqi factions taken action as they had threatened.
Yesterday, Prime Minister Mohammed Shia al-Sudani warned of escalation in the region and condemned the violation of Iraqi airspace.
This came during a phone call with Russian President Vladimir Putin, which addressed the latest regional and international developments, according to a statement from al-Sudani's office.
According to the statement, al-Sudani pointed to "Iraq's clear rejection of the Zionist aggression against the Islamic Republic of Iran and the dangerous escalation represented by the US bombing of nuclear facilities, in addition to Iraq's condemnation of the violation of its airspace by US and Zionist aircraft."
For his part, Putin stressed during the call "the importance of ending the escalation, assuring the Prime Minister of his special efforts in this regard." He also praised "the efforts of the Iraqi government, which is working to prevent the expansion of the war, and expressed his rejection of any infringement on Iraq's airspace and sovereignty."
Baghdad had condemned the US attack on Iranian nuclear facilities last Sunday morning and called for "calm."
Tehran threatened to close the Strait of Hormuz in response to the US attacks, considering all US citizens and US interests a legitimate target.
Meanwhile, attention in Iraq turned to the factions calling themselves the "Iraqi resistance," awaiting a response, as previously threatened, but so far they have remained silent.
Postponing the clash
According to information received by Al-Mada, the so-called "resistance operations room" in Iraq has not yet announced "zero hour."
Sources close to these factions announced a
According to the information, "the factions believe that the US strike is not direct intervention in the war, and that they will respond if Washington officially announces its support for Israel."
To date, none of the "resistance groups" have officially announced their position on the recent US strike on the three reactors.
"Iran doesn't need us."
However, according to a member of the political bureau of the Asa'ib Ahl al-Haq movement, led by Qais Khazali, Tehran does not now need military support from the "factions."
In response to the inaction of armed groups in Iraq, Falah al-Jazairi, a member of the movement, said in a television interview that "Iran does not need the resistance factions now, because the war is technological."
Al-Jazairi asserted that the factions do not want to be dragged into Israel's wake, "They want a comprehensive war with everyone's participation." He also emphasized that "the factions are ready and awaiting the signal of the Iranian Supreme Leader."
Asa'ib Ahl al-Haq had previously threatened the United States against participating in any "aggression" alongside Israel against Iran, or targeting Supreme Leader Ali Khamenei.
Awaiting the Supreme Leader, a leader in Harakat al-Nujaba said that the factions' response to Iran requires "accurate calculations, not emotional ones."
"The intense pressure on the Islamic Republic and its allies from the American ogre does not mean we should surrender," said Mahdi al-Kaabi, a leader in the movement. "We have been allies of Iran, past and present, and we will remain so."
Regarding the factions' actions, Al-Kaabi said in a television interview that "calculations must be precise and unemotional, because preserving the Islamic Republic is a religious duty, and Iraq has higher interests that must be preserved.
" Al-Kaabi revealed that responding to the US "is up to the Iranian leadership, whether in Ain al-Assad, Harir, or the bases in Jordan and the Gulf, as they are all within range of Iranian missiles. The Americans are fearful in Congress, and they say that there are 40,000 American prisoners at the mercy of Iranian fire."
Last Sunday, Washington began evacuating an additional number of its employees in Iraq, following the attack on the "three reactors."
A US embassy spokesperson said in press statements that "additional employees have left Iraq, due to escalating regional tensions."
He added that the US State Department continues to monitor the security situation in Iraq, stressing that the US Embassy and Consulate General are open and operating as usual.
Observers and Western press reports have expected that Iran will attack military bases in Iraq and the Gulf in retaliation for the recent US strike.
An Opportunity for Diplomacy
For his part, Ihsan Al-Shammari, a professor of strategic and international politics at the University of Baghdad, believes that Iran is still waiting for "diplomatic solutions," and that "political calculations" are behind the "factions'" delay in responding.
Al-Shammari told Al-Mada: "I expect Iran to not respond to America, because it is still counting on a margin of diplomacy led by the European Troika and the Gulf Trio (Saudi Arabia, Qatar, and Oman), to reach a settlement or deal through which Iran will not lose its political system and will maintain—at least—some elements of power."
He added: "If Iran reaches a settlement with America on the remaining issues, given that the Iranian nuclear file has been neutralized, Israel, which is an ally of Washington, can end the current state of war."
Yesterday, US President Donald Trump questioned the possibility of regime change in Iran after the recent reactor attacks.
Trump said in a post on his platform (Truth Social): "If the current Iranian regime is not capable of making Iran great again, why not have a regime change?"
Provoking America
On the other hand, Al-Shammari, who also heads the Center for Political Thinking, says, "What is driving Iraqi factions to refrain from taking action against the United States is the fear of provoking America, as this would lead to a devastating strike against Iran, in accordance with pre-established objectives by Washington."
The center's head also believes that these factions have apparently begun to view this war with "political considerations rather than field and ideological considerations," because they realize that engaging in a confrontation or targeting America would cost them their political weight and completely lose the political equation.
Therefore, according to Al-Shammari, the factions have begun to view an American targeting as "similar to suicide or embarking on a fateful confrontation, not only on the field level, but also in terms of their political weight and presence."
These "factions," which are often referred to as three or four armed groups, are supposed to have been involved in a "truce" agreement for more than seven months. The government, several months ago, announced political dialogues with these factions, the results of which have yet to be announced.
Al-Shammari says, "The factions' movement is not linked to the government, but rather to the Shiite political rule represented by the Coordination Framework. The framework has now reached an agreement that the factions must not get involved in the Iranian response to Israel or America, because that would put an end to their political equation."
He continued, "The government is undoubtedly part of the political environment of the Coordination Framework and is aware of the magnitude of the risks that the participation of these factions could cause, and its repercussions on the political, security, and even economic situation. That is why it has engaged in dialogue, but I imagine that the decision rests with the framework itself.
" Critical Scenarios
Despite this, Al-Shammari discusses other scenarios in which the factions could enter the war. He says, "If this war escalates and reaches the point of planning to target religious figures represented by the Iranian Supreme Leader and to topple the Iranian regime, then I imagine the factions will get involved in this war. This is the critical moment, and therefore Iraq will be facing a pivotal moment and a moment of major transformation."
The political researcher also expects that "a unilateral decision by one of the armed factions to target the American presence—given that they had issued statements indicating that they would engage in this war if America joined—would represent a critical situation and the end of the fragile agreement between the factions and the framework."
Another point Al-Shammari pointed out among the "critical scenarios" is that "Israel may target the factions, even though they are currently inactive. However, the Israeli narrative still places Iraq within the targeting circles of Iran's proxies, and this will have repercussions."
Trump calls for keeping oil prices low
US President Donald Trump called on all oil-producing countries on Monday to maintain stability, as global crude prices soar.
Trump wrote in a post on Truth Social, "Everyone should keep oil prices low. I'm watching. Don't play into the hands of the enemy."
Benchmark Brent crude rose 5.7% to $81.40 a barrel, its highest level since mid-January, before giving up much of its gains to trade 1.4% higher at $78.05 a barrel at 12:20 p.m. London time, while August West Texas Intermediate crude futures rose 1.3% to $74.79.
Concern is currently focused on the Strait of Hormuz and whether Iran will actually close it or disrupt shipping traffic through it in response to the US strikes targeting nuclear facilities.
Resignation of the Chief Justice of the Federal Supreme Court in Iraq
The Chief Justice of Iraq's Federal Supreme Court submitted his resignation on Monday, following the resignation of nine other members of the court due to an unprecedented constitutional vacuum .
According to local media reports monitored by Al-Sa'a Network, "Federal Supreme Court Chief Justice Jassim Al-Amiri submitted his resignation a short while ago," without providing further details .
Earlier, nine members of the Federal Court submitted a surprise resignation, leaving Iraq facing an unprecedented constitutional vacuum and effectively paralyzing the judicial institution empowered to resolve disputes and interpret laws .
Experts and parliamentarians described the resignation as a paralysis of the state's legal mind, opening the door to a legitimacy crisis affecting all aspects of the regime and placing sovereign issues on hold .
Some political parties and legal experts have also warned against suspending the Federal Court's work, as ultimately only the Federal Supreme Court can resolve the legal issues of governance in Iraq by implementing the provisions of Article 93 of the Constitution and deciding on the public interest.
Wars and Inflation Doomed Iraqi Coinage
by Charles Morgan for CoinWeek…
Throughout history, war and political instability have often severely disrupted nations’ monetary systems, sometimes causing irreparable damage. This was evident in the United States in the 1860s, when hard currency vanished from circulation, replaced by “Greenbacks”—an emergency paper currency that laid the foundation for the paper money we use today. In Europe, financial calamities and two World Wars profoundly affected national monetary systems. World War I effectively ended the classical gold standard, while World War II saw many combatant nations suspend domestic coinage production. A notable example is the Philippine government’s 1942 decision to dump its silver pesos into Manila Bay to prevent their capture by Japanese occupiers.
More recently, the impact of war and international sanctions on Iraq’s monetary system is a stark illustration. Iraq issued its last series of coins before the Persian Gulf War in 1990. Following Saddam Hussein’s disastrous attempt to annex Kuwait, Iraq would not see a new coinage issue for 14 years.
20th Century Iraqi Coinage
Iraq remained under Ottoman rule until the empire’s collapse in 1917. Subsequently, its territory, along with surrounding regions, came under British administration. The British drew Iraq’s modern borders, a decision that contributed to later internal strife by solidifying a power imbalance among different ethnic and religious groups within the nascent nation.
Iraq achieved formal independence from Britain on October 3, 1932, and subsequently issued its first coinage bearing the likeness of King Faisal I. Faisal I left a positive legacy in the region. The British had supported his leadership in the Arab Revolt against Ottoman rule and his efforts to establish a short-lived Arab government in Syria in 1920. After French forces rejected Faisal’s claim to Syria and invaded, pushing him into exile, the British continued their support, installing him as King of British-administered Iraq in 1921.
Faisal I’s coinage commenced in 1931 and continued until his death in 1933. These coins included denominations of the Iraqi Dinar. Specifically, 20 fulūs, 50 fulūs, and 1 riyal (200 fulūs) coins were struck in .500 fine silver.
Coinage continued under the rule of Faisal I’s only son, Ghazi I. Unlike his father, Ghazi was perceived as less engaged politically and his reign was marked by growing tensions with British loyalists. Ghazi died in a car crash on April 4, 1939, at the age of 27. Some suggest his death was not accidental. His coins were struck at the Royal Mint and the Bombay Mint. Denominations minted between 1936-38 included 1 fils, 4 fulūs, 10 fulūs, 20 fulūs, and 50 fulūs. The 20 and 50 fulūs coins were again struck in .500 fine silver. Additionally, one million 4 fulūs coins were struck in 1939.
Ghazi was succeeded by his son Faisal II, who was a month shy of being four years old when his regency began in 1939. During World War II, Faisal II was evacuated to England, where he and his cousin Hussein, the future King of Jordan, attended Harrow School. Faisal II officially became king in 1953 when he came of age. Scalloped 4 fulūs and 10 fulūs coins struck in 1943 already bore the effigy of the then eight-year-old Faisal II. His main coinage series resumed in 1953 with a full complement of coins: 1 fils, 2 fulūs, 4 fulūs, 10 fulūs, 20 fulūs, 50 fulūs, and 100 fulūs. The 20, 50, and 100 fulūs coins were struck in .500 fine silver.
Faisal II’s reign met a bloody end on July 14, 1958, amidst plans for an Arab Federation uniting Jordan and Iraq. While the young king himself was not a tyrannical figure, his government and its policies, largely influenced by his powerful uncle and regent, Prince Abd al-Ilah, and the veteran Prime Minister Nuri al-Said, were deeply unpopular across significant portions of Iraqi society.
The coup against Faisal II was swift and brutal. The royal family, including the King, Prince Abd al-Ilah, and other close relatives, were killed at the Al-Rehab Palace. Faisal II was shot in the head and neck; his body was subsequently hanged and mutilated.
With the monarchy overthrown, Brigadier Abd al-Karim Qasim and Colonel Abdul Salam Arif rose to power, establishing a republican form of government. This marked a dramatic turning point for Iraq. It ushered in a period of intense political instability characterized by frequent coups, counter-coups, and assassinations, ultimately paving the way for the rise of the Ba’ath Party and the long dictatorship of Saddam Hussein.
Iraqi Republican coinage, beginning with its 1959 issues, replaced the portraits of kings with symbols like oat sprigs and stars. The familiar palm tree design debuted in 1967. The nickel 250 fulūs coin struck in 1970 was notably included in that year’s F.A.O. (Food and Agriculture Organization) album. Other Iraqi F.A.O. issues followed, as did various silver and gold commemorative issues.
The final Iraqi coin issue of the 20th century was the 250 fulūs struck in 1990. On August 2, Saddam Hussein ordered the Iraqi military to invade its southern neighbor, the oil-rich emirate of Kuwait. International condemnation was swift and severe. Within months, a U.S.-led coalition of 34 countries launched a massive assault on Iraqi positions, pushing its army out of Kuwait and severely degrading the country’s military capabilities. Iraqi losses were staggering, and within one month, Iraq accepted the United Nations’ terms for a ceasefire. Hussein remained in power, but the country’s economy was in tatters, and its monetary system in crisis.
Beyond the immediate destruction of infrastructure, the long-term economic repercussions, primarily driven by stringent international sanctions, plunged the nation into a prolonged period of hardship and hyperinflation. Iraq’s GDP plummeted dramatically, with data from CEIC indicating a fall from 157.428% annual growth in 1990 to -79.518% in 1991. Oil exports, the lifeblood of the Iraqi economy, were severely restricted, leading to an estimated significant revenue loss, as Iraq’s national revenue depended mostly on oil, and the price dropped from $18 to $12 per barrel in July 1990 due to overproduction by Kuwait and the UAE. Many Iraqis could no longer afford food, resulting in widespread malnutrition and dramatically increased mortality rates, especially among children, due to shortages of food, medicine, and clean water.
The Iraqi dinar suffered a catastrophic devaluation. Before the war, the official exchange rate was approximately 1 Iraqi dinar to $3.5 USD. By 1997, the black market rate saw 1 U.S. dollar equivalent to around 2,000 dinars, indicating a massive loss of purchasing power. This hyperinflation rendered Iraqi coins practically useless, and increasingly higher face-value currency notes flooded the economy.
A Limping Return of Iraqi Coins
Following the September 11, 2001 attacks on the World Trade Center and the Pentagon, the George W. Bush Administration grew increasingly concerned that Saddam Hussein had surreptitiously worked to reconstitute several arms programs prohibited under United Nations Security Council resolutions, notably Resolution 687, adopted on April 3, 1991.
Hussein was vague about whether Iraq possessed these so-called Weapons of Mass Destruction (WMDs), and UN weapons inspectors found no evidence that Iraq had active programs to create WMDs or stockpiles of them. Nevertheless, a U.S.-led invasion commenced on March 20, 2003, with an initial “shock and awe” bombing campaign targeting key Iraqi military and government installations. This was quickly followed by a ground invasion by a coalition of forces, primarily from the United States and Britain. The Iraqi military, weakened by years of sanctions, was quickly overwhelmed. Hussein went into hiding, and his government collapsed. After months of intense searching, the former Iraqi leader’s location was discovered. On December 13, 2003, an Iraqi-American interpreter, “Samir,” pulled the disheveled despot from a hideaway at a remote farm south of Tikrit.
The Americans established a provisional Iraqi government, which administered the state from July 2003 to June 2004, when control was handed over to an interim Iraqi government. In 2004, Iraq issued new coins in three denominations: 25 dinars, 50 dinars, and 100 dinars. One side of these coins featured a simple depiction of Iraq along with the date, while the other side displayed the denomination and legend.
While Iraqis were largely relieved to see Hussein removed, frustration grew due to the complex and challenging task of nation-building and civil administration, which proved to be far more extensive than what the Americans had initially planned. Iraq was subsequently thrust into a decade of violence, insurgency, and the brutal rise of ISIS.
Today, Iraq is more stable and prosperous than in previous turbulent decades, but it still faces many challenges. Despite high voter turnout in elections and increased representation along sectarian and gender lines, systemic corruption continues to hamper growth. The Iraqi monetary system continues to adjust to meet contemporary demands, though largely without the widespread use of coins in daily transactions.
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Tender for Iraqi Dinar Cash Distribution 📺
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