Trade: Iraq has completed the technical files to join the World Trade Organization.
Minister of Trade Athir Dawood Al-Ghariri announced that Iraq has completed the technical requirements for joining the World Trade Organization after two decades of challenges.
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Al-Ghariri stated in a statement that "Iraq has completed all the technical files required to join the World Trade Organization, after a negotiating process that spanned more than twenty years, during which Iraq faced numerous challenges and delays."
The minister explained that "this achievement was accomplished during the term of the current government, through intensive, qualitative efforts that surpassed what was accomplished in all previous stages combined," stressing that "Iraq is now in an advanced position paving the way for fulfilling the requirements for full membership."
Al-Ghariri explained that "the national team concerned with accession, in coordination with the relevant ministries and sectoral bodies, and in partnership with international institutions, completed the review and update of all technical files, which included: the foreign trade system memorandum, the legislative implementation plan, agricultural support tables, the import licensing file, customs valuation, in addition to the sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) files."
He continued: "The team also prepared accurate answers to (175) questions and inquiries submitted by the member states of the organization, while the Iraqi customs system was updated to the latest version in line with international standards and enhancing Iraq's readiness for the next stages."
The minister confirmed that "the files will be officially submitted to the WTO Secretariat through diplomatic channels, in preparation for the next meeting of the working group."
Al-Ghariri concluded by saying, "What has been achieved is the fruit of the government's extensive support, continuous coordination with all ministries and national institutions, and the efforts of the Department of Foreign Economic Relations in leading this strategic path, with the goal of strengthening Iraq's position in the global trading system, serving its national economy, and achieving sustainable development.
The Parliamentary Finance Committee reveals the reasons behind the sudden rise in the dollar: the US Federal Reserve rejected remittances despite their fulfillment of the conditions.
Member of the Parliamentary Finance Committee, MP Moeen Al-Kadhimi, revealed on Thursday that the US Federal Reserve's rejection of financial transfers that met the conditions was the reason behind the sudden rise in the dollar exchange rate.
Al-Kadhimi said in a statement monitored by (IQ), "There is a large number of transfers rejected by the US Federal Reserve without reason, despite their fulfillment of the conditions. A month after submitting the funds and completing the transactions, the rejection comes, which prompted traders once again to withdraw their Iraqi money from banks and turn to the black market to transfer the amounts by other means."
He added, "The issue relates to the extent to which financial transfers from Iraqi traders are accepted by government agencies, within the framework of the Central Bank, banks, and the SWIFT system, and based on invoices and documents submitted, such as receipts obtained from exporting companies. However, from time to time, unjustified obstacles appear from the US Federal Reserve."
Al-Kadhimi continued, "These obstacles led to a rise in the dollar exchange rate, which yesterday reached 143,000 dinars per $100, up from 139,000 dinars, due to the refusal of the transfers by the US Federal Reserve despite their fulfillment of the conditions."
The dollar exchange rate in Iraq today reached 145 per 100 dollars.
A 150% jump in electronic payments in Iraq... Will cash disappear?
The Baghdad Digital Transformation Council announced an unprecedented 150% increase in the volume of electronic payment transactions in Iraq compared to last year, amid widespread debate among economists and citizens about the future of traditional cash in the country.
Council advisor Khaled Al-Jabri told Al-Sabah newspaper, which was monitored by Al-Mustaqilla, that the volume of electronic payment transactions reached 2.8 trillion dinars in July. He noted that this growth was a result of the integration of the customs and commodity system into an integrated electronic system linking importers to banks and financial transfers, in addition to the adoption of digital payment systems by approximately 700 government administrative units.
While the government sector is witnessing a significant expansion in the use of electronic payments, the private sector remains slow to adopt these systems. This raises questions about the Iraqi economy's ability to fully transition to a digital economy, given the absence of extensive awareness programs and the revision of some outdated laws.
Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, commented, emphasizing that Iraq needs to restore citizens' confidence in the banking sector before any comprehensive digital expansion. He emphasized that the government is working to promote the adoption of electronic payments as part of financial and banking reform plans. He explained that enhancing confidence includes imposing electronic transactions on all government and private sectors, expanding point-of-sale (POS) services, and creating incentive programs such as discounts on goods or gifts with purchases of a specific value to attract citizens away from traditional cash.
This leap in electronic transactions has sparked controversy both locally and internationally, with supporters viewing it as a step toward modernization and stimulating the formal economy, and opponents warning of threats to privacy and excessive reliance on technology, especially in light of the challenges of trust in banks and electronic financial fraud.
In light of these changes, the biggest question arises: Is Iraq on the cusp of a cashless economy, or will these transformations collide with the country's social and economic reality?
The US Treasury imposes new sanctions on Iran's "secret" fleet.
The US Treasury Department announced new sanctions on Thursday against Iran's "secret" fleet and other companies facilitating the sale of Iranian oil.
“The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) continues to disrupt Iranian oil exports by sanctioning Greek national Antonis Margaritis, his network of companies, and nearly a dozen vessels involved in Iran’s clandestine fleet,” the department said in a statement. “Margaritis has leveraged his decades of experience in the shipping industry to facilitate the illicit transfer and sale of Iranian oil. Numerous other vessels and operators are also designated today for their role in facilitating Iranian oil exports, which generate revenue that contributes to Iran’s advanced weapons programs.”
She added, "This action is being taken pursuant to Executive Order 13902, which targets Iran's petroleum sector. This action also represents the latest round of sanctions targeting Iranian oil sales since the President issued National Security Presidential Memorandum 2 (NSPM-2), inaugurating a maximum economic pressure campaign on Iran."
He pointed out that "Iran continues to rely on an international network of organized and orchestrated actors to sell and transport its oil, which funds the Iranian regime and its activities in the region. These actors range from complicit individuals who personally profit from the illicit trade to special purpose vehicles that deceptively own and operate vessels that transport Iranian goods to end users in multiple jurisdictions."
Al-Sudani discusses with Halliburton the development of Basra fields and the expansion of associated gas investment.
Prime Minister Mohammed Shia al-Sudani received today, Thursday, the President of the American oil and energy technology company Halliburton, Mr. Shannon Slocum, and his accompanying delegation.
Mr. Al-Sudani emphasized that the presence of major oil companies in Iraq reflects the government's commitment to the country's energy sector and its efforts to develop it according to modern international standards and through the best energy companies. He emphasized the government's vision for developing the oil and gas sectors and its commitment to ensuring that development takes place with the highest possible capabilities provided by advanced technology, as well as Iraq's continued expansion of its use of associated gas and the production of petroleum derivatives.
His Excellency pointed out the importance of expanding the scope of work with Halliburton, given its expertise and capabilities in the fields of extraction and refining, and its possession of modern global technologies. He affirmed his support for the company's work in developing the Nahr Bin Omar and Sindbad fields in Basra Governorate.
For his part, Mr. Slocum affirmed Halliburton's interest in operating in Iraq, given the country's progress across all sectors, its stability, and its openness to major international industrial companies. He explained that the company is committed to providing the latest technological developments for oil and gas fields, after finalizing the contract model. He also stated that the company will employ modern administrative and technical methods in its work, and is committed to developing the skills of the Iraqi cadres working with it.
Norwegian company resumes oil production in Iraqi Kurdistan
A Norwegian company has resumed oil production in Iraqi Kurdistan, after a nearly month-long shutdown following drone attacks on several fields in the region.
Norwegian oil company DNO announced on Thursday, August 21, 2025, the resumption of oil production at its Tawke and Pashkabir fields in the semi-autonomous Kurdistan Region of Iraq, after it was halted last month due to drone attacks in the region.
Shares of the Norwegian company, which also raised its dividend on Thursday, rose 11.6% in morning trading, according to the Washington-based energy platform, following the announcement of the resumption of oil production in Iraqi Kurdistan.
The Norwegian company's fields were among five oil fields in Iraqi Kurdistan that were targeted by drone attacks in mid-July, disrupting approximately 150,000 barrels per day of the region's total production, estimated at 250,000–300,000 barrels per day.
Iraqi Kurdistan fields
“The company resumed production from the Tawke field in early August on a trial basis, while production from the Beshkabir field resumed later in the month,” DNO said in a statement accompanying its second-quarter earnings report.
She noted that the attacks hit surface processing equipment in the Bashkabir field and an oil storage tank in the Tawke field, adding that no one was injured.
A worker at one of the projects of the Norwegian company DNO - photo from the company's website
She added that while the months-long repairs are still pending, the company has increased its total production on a trial basis to 55,000 barrels of oil equivalent per day, split almost equally between the Tawke and Peshkabir fields.
The company's average oil production in Kurdistan was 82,100 barrels of oil equivalent per day in the first quarter, but declined by 9% during the second quarter, reaching approximately 74,760 barrels per day.
The company explained that the production decline in Iraqi Kurdistan was the result of an operational shutdown imposed by market disruptions, during which DNO used the time to conduct maintenance and conversions scheduled for later this year.
Plans to increase oil field production in Kurdistan
The Norwegian company, which owns a 75% stake in the Tawke license, where the Tawke and Pashkabir fields are located, announced that it aims to increase oil production in Kurdistan to 100,000 barrels of oil equivalent per day in the long term.
The Tawke field, along with the Bashkabir field, forms a single concession operated by the Norwegian oil and gas company DNO in partnership with Genel Energy, which holds a 25% stake. The concession is located in the Zakho region near the Turkish border.
The Tawke field is one of the oldest fields to enter production in Kurdistan, having been in operation since 2007, and currently produces approximately 29,000 barrels per day.
The field's recoverable reserves are estimated at between 150 and 370 million barrels, making it a key pillar of Iraqi Kurdistan's oil landscape.
The Beshkabir field was discovered in 2016 and began production in 2017. It produces approximately 49,000-54,000 barrels per day, with cumulative production reaching more than 100 million barrels by March 2023.
On August 13, Gulf Keystone Petroleum announced the resumption of production at the Shaikan oil field, which was also subjected to drone attacks.
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Eight-Truck TIR Convoy Reaches Jordan via Iraq
Turkish logistics company DMN Lojistik has successfully delivered a shipment of goods from Gaziantep, Türkiye, to Amman, Jordan, using Iraq as a transit route under the United Nations-backed TIR system.
According to a press release from the International Road Transport Union (IRU), the eight-truck convoy completed the journey in under five days, demonstrating the efficiency and security of Iraq's newly opened TIR corridors.
It adds that since Iraq opened its borders for TIR transit earlier this year, transport operators have reported significant time and cost savings compared to maritime or multi-modal alternatives.
DMN Lojistik General Manager Serdar Duman said the new route strengthens the company's commitment to expanding opportunities while ensuring safe and reliable delivery.
The TIR system, managed by the IRU, allows goods to travel across international borders in sealed compartments, reducing delays and costs for transporters and customs authorities alike.
Norwegian company resumes oil production in the Kurdistan Region.
A Norwegian company has resumed oil production in the Kurdistan Region, after a nearly month-long shutdown following drone attacks on several fields in the region .
Norwegian oil company DNO announced on Thursday, August 21, 2025, the resumption of oil production at its Tawke and Pashkabir fields in the Kurdistan Region of Iraq, after it was halted last month due to drone attacks in the region .
Shares of the Norwegian company, which also raised its dividend on Thursday, rose 11.6% in morning trading, according to the Washington-based energy platform, following the announcement of the resumption of oil production in Iraqi Kurdistan .
The Norwegian company's fields were among five oil fields in Iraqi Kurdistan that were targeted by drone attacks in mid-July, disrupting approximately 150,000 barrels per day of the region's total production, estimated at 250,000–300,000 barrels per day .
“The company resumed production from the Tawke field in early August on a trial basis, while production from the Beshkabir field resumed later in the month ,” DNO said in a statement accompanying its second-quarter earnings report.
She noted that the attacks hit surface processing equipment in the Bashkabir field and an oil storage tank in the Tawke field, adding that no one was injured .
She added that while the months-long repairs are still pending, the company has increased its total production on a trial basis to 55,000 barrels of oil equivalent per day, split almost equally between the Tawke and Peshkabir fields .
The company's average oil production in Kurdistan was 82,100 barrels of oil equivalent per day in the first quarter, but declined by 9% in the second quarter, reaching approximately 74,760 barrels per day .
The company explained that the production decline in Iraqi Kurdistan was the result of an operational shutdown imposed by market disruptions, during which DNO used the time to conduct maintenance and conversions scheduled for later this year .
The Norwegian company, which owns 75% of the Tawke license, where the Tawke and Peshkabir fields are located, announced that it aims to increase oil production in Kurdistan to 100,000 barrels of oil equivalent per day in the long term .
The Tawke field, along with the Bashkabir field, forms a single concession operated by the Norwegian oil and gas company DNO in partnership with Genel Energy, which holds a 25% stake. The concession is located in the Zakho region, near the Turkish border .
The Tawke field is one of the oldest fields to enter production in Kurdistan, having been in operation since 2007, and currently produces approximately 29,000 barrels per day .
The field's recoverable reserves are estimated at between 150 and 370 million barrels, making it a key pillar of Iraqi Kurdistan's oil landscape .
The Beshkabir field was discovered in 2016 and began production in 2017. It produces approximately 49,000-54,000 barrels per day, with cumulative production reaching more than 100 million barrels by March 2023 .
On August 13, Gulf Keystone Petroleum announced the resumption of production at the Shaikan oil field, which was also subjected to drone attacks.
A Second Term Hanging by a Thin Thread: Al-Sudani Swings Between Washington and Domestic Allies
Al-Masala: Prime Minister Mohammed Shia al-Sudani faces an early test as he seeks a second term, amid intensifying US pressure to end the influence of armed factions. Meanwhile, these factions insist on remaining a strategic shield in the national security equation.
The scene reveals a complex battle, where domestic considerations intersect with external dictates. The upcoming elections are becoming an indirect battleground for the struggle over the identity of the Iraqi state between the "government centralization" project and the "armed pluralism" project, which constitutes an extension of the post-2003 balance of power.
A report by the American Soufan Institute indicates that the recent clashes in the Dora district of Baghdad have once again highlighted the duality of power between official state institutions and the centers of influence represented by the factions. This reflects the political system's inability to resolve the debate over who ultimately holds the sovereign decision.
Observers believe that these factions are not merely military arms, but rather a deeply rooted social structure supported by a broad segment of the Shiite community, which still recalls the experience of ISIS's invasion of large swaths of Iraq in 2014 and the subsequent expansion of the factions as a rescue force in the face of an existential threat.
Al-Sudani's government is trying to strike a balance between reassuring Washington and its regional partners that Iraq is capable of asserting its security sovereignty, while at the same time avoiding a rupture with the factions, which represent a political pillar within the Coordination Framework, their primary incubator.
The approaching general elections in November require Al-Sudani to carefully consider his options. The continued fragile balance may give him additional time to regroup, but it also increases the risks if Washington decides to increase the pressure or if the factions choose to test their strength on the street.
For Al-Sudani, the battle for a second term appears to hinge on his ability to market himself as a man of possible consensus. However, he realizes that his image as a "statesman" versus a "factionalist" may determine his political future more than the ballot box.
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