Central Bank: Measures to address the problems of Iraqi banks deprived of dealing in dollars
Ahmed Dawood Salman, the director of the transfers department at the Central Bank of Iraq, announced that the bank has taken several measures to address the problems of Iraqi banks that are deprived of dealing in dollars.
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He added in statements carried by the Iraqi News Agency and followed by Iraq Observer: The Central Bank is continuing its procedures with international auditing companies, in order to audit the previous transfer process that led to some Iraqi banks being deprived of dollars or any problems that Iraqi banks were facing that led to them being deprived of dealing in dollars.
He added that “there are several conditions and procedures that the Central Bank has imposed on banks, as the Director General of the Investment Department for Foreign Transfers and the Director General of the Banking Supervision Department are working on this matter with the auditing firm (Olive Wyman) and we will continue and we will notice the changes in the coming days.”
10000000 Iranian Rial is just Rs…! Iran introduces 1 crore banknote amid Middle East war due to…, reason for Tehran devalued currency is…
Iran has introduced a record 1 crore rial banknote worth only about Rs 650 to tackle rising inflation and cash shortages, highlighting the sharp decline of its currency amid ongoing sanctions and economic crisis.
Iran is battling one of its toughest economic phases in recent years, and the impact is now visible in its currency. In a striking move, the government has introduced a brand-new 10 million rial banknote the highest denomination ever printed in the country’s history. While the number on the note may look massive, its actual value tells a very different story.
1 Crore Rial Note – But Worth Only About Rs 650
The newly issued 10 million rial (1 crore rial) note is currently valued at roughly $7, or about Rs 650 in Indian currency. The huge figure printed on the note reflects just how sharply the Iranian rial has weakened over time.
As soon as the new notes began reaching banks this week, long queues were reported outside several branches and ATMs. Many people rushed to withdraw cash, worried that machines might run dry. In some areas, those fears appeared justified, as banks reportedly limited the amount customers could withdraw at one time.
Why Did Iran Introduce Such a Large Note?
According to the Central Bank of Iran, the new note was introduced to tackle cash shortages and make daily transactions easier amid soaring inflation. With prices rising rapidly, people need to carry larger bundles of cash for routine purchases. A higher denomination note reduces the need to carry stacks of smaller bills.
The new pink-colored note features the historic Jameh Mosque of Yazd on the front side. On the back, it carries an image of the ancient Arg-e Bam, a 2,500-year-old fortress and one of Iran’s most iconic landmarks. Until recently, the 5 million rial note introduced earlier this year was the country’s largest denomination.
Banks Facing Cash Crunch
Despite government assurances, reports suggest that banks are struggling with liquidity issues. In several cases, customers were unable to withdraw the full amounts they requested. Some were reportedly given much smaller sums than expected.
The rial has been under pressure for years, but the situation has worsened recently. Long-standing US sanctions, reduced oil revenues, high inflation, and allegations of corruption have all contributed to the economic downturn. Ongoing regional tensions have further strained the financial system and investor confidence.
Currency Under Severe Pressure
Over the past year, the rial has reportedly lost around 40% of its value following intensified geopolitical tensions. The launch of such a high-value note is widely seen as a sign of how serious inflation and currency depreciation have become.
For ordinary Iranians, the issue is not just about numbers on paper it is about rising prices, shrinking savings, and uncertainty about what comes next. The 10 million rial note may offer temporary relief in daily transactions, but it also highlights the deeper economic challenges the country continues to face.
5 possible paths for a US ground intervention in Iran
Although US President Donald Trump has denied his intention to send troops to Iran, the scenario of a ground intervention is still on the table.
US officials are discussing the possibility of deploying "thousands of American troops" to the region to enhance military flexibility as Operation Epic Wrath develops.
Newsweek magazine revealed five possible scenarios for the shape of the ground forces in Iran.
1- Securing Iranian nuclear materials
Sending U.S. forces to take control of Iran’s stockpiles of highly enriched uranium is one of the most sensitive and strategically important options under discussion, and it would be an extremely complex task with no guarantee of success.
Iran’s nuclear infrastructure is not concentrated in one location, but is spread across multiple sites, many of which are buried deep underground and are fortified against attacks and protected by multi-layered air defenses.
Even if the deployment of ground troops is limited to a small-scale operation led by elite U.S. special forces, it will likely require broader military support, including air cover and sustained logistical support on the ground.
The risks do not stop at the battlefield. Any attempt to actually secure nuclear materials could be interpreted by Tehran as an existential threat to the regime, which could lead to a rapid escalation, widening the scope of the conflict and drawing in other regional parties.
2- Seizing Kharg Island
The second scenario is a land operation to seize Kharg Island, which handles about 90% of Iran’s oil exports.
Indeed, the United States has launched strikes against targets there, but officials are now debating whether actual control of the island would be more effective than simply destroying its infrastructure.
Control of the island would restrict Iran’s ability to export oil, cutting off a vital source of income and giving Washington leverage over global energy flows.
However, the risks are high. Reuters reported that US officials warned that the operation would be "extremely dangerous" and "highly risky," as Iran could target the island with missiles and drones, potentially leading to a significant increase in US casualties.
Its small size and exposed location in the Gulf will put US forces in danger, and thus the island will become a prominent strategic location that is difficult to defend in an active conflict zone.
3- Securing the Strait of Hormuz
The Strait of Hormuz remains the most pressing flashpoint in the war, given the threat to global oil supplies. While US operations have so far relied on air and naval power, securing a safe passage for oil tankers may require deploying ground troops along the Iranian border.
Although this move can be framed as important for protecting global trade and energy supplies, it would represent a dangerous escalation, as even a limited presence on Iranian soil could trigger a retaliatory response, including attacks on US forces and regional assets.
This means that an operation that may begin as a defensive one could quickly expand, leading to Washington's involvement in a wider and more opaque conflict.
4- Protecting critical energy infrastructure
Another, more limited option currently being discussed is deploying US troops to secure vital energy assets, such as the South Pars gas field.
This approach is reminiscent of previous US missions in Iraq, where troops were tasked with protecting vital oil infrastructure during periods of instability.
Despite their limited scope, these operations rarely remain confined, as securing large, high-value sites usually requires a permanent ground presence, leaving forces vulnerable to missile or drone attacks.
5. Full-scale invasion
The most extreme option remains the invasion and complete occupation of Iran, which is a highly unlikely option because the scale, cost, and challenges of a military operation in Iran would far exceed what happened in Iraq or Afghanistan, where the wars turned into long and costly conflicts that lasted for years and cost trillions of dollars without resulting in a clear or lasting political solution.
Given Iran’s larger population, rugged terrain, and strong government institutions, any occupation of Iran would be more complicated.
This option also faces overwhelming popular opposition, according to opinion polls such as the one conducted by the American news network CNN, which showed that 60% of Americans oppose the deployment of troops compared to 12%, while a poll conducted by Quinnipiac University showed an even larger gap, with the percentage reaching 74% compared to 20%.
Opposition transcends party affiliations; even among Republicans, support remains limited, with only 27% in a CNN poll and 37% in a Quinnipiac poll supporting the deployment of troops.
This opposition poses a clear political constraint on Trump, who has always promised to avoid new, long-term wars in the Middle East.
PM Barzani, U.S. Envoy to UN Discuss Economic Challenges and Strengthening Ties
Both sides reviewed ongoing progress in the Kurdistan Region and exchanged views on regional dynamics, including political and economic developments affecting Iraq.
On Sunday, Masrour Barzani, Prime Minister of the Kurdistan Region, held a phone call with Michael Waltz, United States Ambassador to the United Nations, to discuss recent developments in the Kurdistan Region, Iraq, and the wider Middle East, according to a statement from the Kurdistan Regional Government (KRG).
According to a statement, both sides reviewed ongoing progress in the Kurdistan Region and exchanged views on regional dynamics, including political and economic developments affecting Iraq.
The discussions also focused on the impact of the economic crisis on both the Kurdistan Region and Iraq. In this context, the two officials highlighted the potential role of resuming oil exports through the Kurdistan Region’s pipeline to Turkey as a way to ease financial pressures.
A joint meeting between the Federal Government of Iraq and the KRG was held on March 13, to discuss the export of oil from the Kirkuk oil fields and the resumption of exports from the Kurdistan Region through its pipeline to the Turkish port of Ceyhan,
Barzani and Waltz further underscored the importance of strengthening relations between the United States and the Kurdistan Region, reaffirming their commitment to continued cooperation.
Iran Says Strait of Hormuz Remains Open, Blames US for Shipping Disruptions
Foreign minister urges “respect” amid rising tensions over maritime security and trade
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Abbas Araghchi said on Sunday that the Strait of Hormuz remains open, rejecting claims of a full blockade and attributing disruptions in maritime traffic to fears driven by the ongoing conflict.
In a statement posted on X, Araghchi argued that hesitation among shipping companies stems from insurance concerns linked to what he described as a “war of choice” initiated by the United States, rather than any direct Iranian action to close the vital waterway.
“Ships hesitate because insurers fear the war of choice you initiated—not Iran,” he said, emphasizing that the situation in the strait reflects broader instability rather than a deliberate shutdown by Tehran.
The Iranian foreign minister also dismissed the impact of further threats, stating that neither insurers nor Iran would be influenced by escalatory rhetoric.
“No insurer—and no Iranian—will be swayed by more threats. Try respect,” he added, calling for a shift in tone from Washington.
Araghchi further linked maritime access to broader economic principles, asserting that “freedom of navigation cannot exist without freedom of trade,” and warning that both could be undermined if mutual respect is not maintained.
His remarks come amid heightened tensions in the Gulf, as the Strait of Hormuz—through which a significant share of global oil and gas supplies passes—has become a focal point of the ongoing confrontation between Iran and the United States, raising concerns over global energy markets and shipping security.
Trump, under pressure from rising global fuel prices, posted on Truth Social early Sunday that the U.S. would “obliterate” Iranian power plants if Tehran did not lift its de facto blockade of the strait within 48 hours.
Later in the day, Iran vowed to “irreversibly” destroy key infrastructure across the Middle East if Donald Trump carried out his threat to target Iranian power plants, escalating fears of a broader regional confrontation.
Tehran also warned it would fully close the Strait of Hormuz, effectively halting oil and gas traffic, should the ultimatum be executed.
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US May ‘Escalate to De-escalate’ Against Iran, Treasury Secretary Says
Bessent defends temporary sanctions relief on Iranian oil amid soaring energy prices
The United States may need to escalate its military operations against Iran to wind down the ongoing conflict, Treasury Secretary Scott Bessent said Sunday, amid apparent contradictions in the policy direction outlined by President Donald Trump.
Asked on NBC’s Meet the Press whether Washington was winding down or escalating the war, Bessent replied: “They’re not mutually exclusive. Sometimes you have to escalate to de-escalate. This is the only language the Iranians understand.”
Trump on Saturday threatened to “obliterate” Iranian energy plants if Tehran did not fully open the strategically critical Strait of Hormuz, which carries roughly a fifth of global oil and gas supplies. This followed his Friday remark that U.S. objectives were “very close” and that he was considering “winding down” the war.
Bessent also defended a temporary lifting of U.S. sanctions on Iranian and Russian oil already loaded onto ships, an effort aimed at stabilizing energy markets amid rising crude prices that have spurred global economic concern.
Critics argue the move could indirectly fund Iran while the U.S.–Israel military campaign continues, but Bessent countered that the policy limits the price Iran can obtain for its oil.
“That Iranian oil was always going to be sold to the Chinese at a discount,” Bessent said. “So which is better? Oil prices spiking to $150 and Iran getting 70 percent, or prices below $100?”
He acknowledged that gasoline prices in the U.S. have risen sharply, creating potential political risks ahead of the midterm elections, but argued the temporary costs were justified.
“I don’t know whether it’s going to be 30 days. I don’t know whether it’s going to be 50 days. I don’t know whether it’s going to be 100 days,” Bessent said. “But to have 50 years of peace in the Middle East and know that the Iranian regime is defanged will be worth it.”
Meanwhile, Reza Pahlavi, the exiled son of Iran’s last shah, urged Trump and Israeli Prime Minister Benjamin Netanyahu to avoid targeting civilian infrastructure, arguing that it “belongs to the Iranian people and to the future of a free Iran.”
Pahlavi, who wields influence among the Iranian diaspora but holds no official position, stated on X that “Iran must be protected. The regime must be dismantled.”
The remarks underscore the complex balancing act facing the U.S. as it navigates a widening conflict with Iran: Washington is striving to degrade Tehran’s military capability while also attempting to stabilize volatile global energy markets and maintain domestic political confidence.
With the near‑closure of the Strait of Hormuz disrupting roughly 20 % of global oil flows and sending prices sharply higher, U.S. policymakers are weighing a mix of military pressure and economic maneuvers — including temporary sanctions relief on oil in transit — to manage both strategic objectives and economic fallout.
The administration’s approach reflects an effort to compel Iran to curb its aggressive posture while keeping energy costs from spiraling further, a dilemma that ties battlefield decisions to global markets and domestic political considerations.
US Treasury Secretary: We have enough money for a war with Iran and are seeking additional funding.
US Treasury Secretary Scott Bisent said the government has “plenty of money” to fund a war with Iran, but is seeking additional funding from Congress to ensure the military is adequately supplied in the coming period.
In an interview with NBC News, Bisent clarified that there is no intention to push for tax increases to fund the war, emphasizing that the current request aims to bolster military capabilities without specifying the amount of funding needed.
He added, “We have plenty of money to fund this war, and this is additional funding. President Donald Trump has worked to strengthen the military, as he did in his first term, and he is continuing to do so in his second term to ensure the readiness of our forces.”
For his part, Secretary of Defense Pete Higseth indicated that additional funding is necessary to ensure the sustainability of current operations and to prepare for any future deployments.
The US military’s request for approximately $200 billion in additional funding faces opposition in Congress, with Democrats and some Republicans expressing doubts about the need for such an increase, especially after the passage of substantial defense budgets last year.
President Trump has not yet sent a formal request to the Senate and House of Representatives for approval of this funding, and the administration has indicated that the figure may be subject to revision.
Initial estimates suggest this war could become one of the most expensive in US history since the wars in Iraq and Afghanistan, with the first six days alone costing over $11 billion.
It's worth noting that Congress approved record military funding at the start of Trump's second term in January 2025, with the president signing the National Defense Authorization Act for fiscal year 2026, totaling nearly $840 billion.
Trump: You will soon know what will happen regarding the warning to the Iranian power plants, and the result will be very good; there will be total destruction of Iran.
Donald Trump told Israel's Channel 13 that the coming days will reveal what will happen regarding the warning issued to power plants in Iran, stressing that "the result will be very good."
Trump added that there would be “total destruction of Iran,” considering that it would “work very well,” as he put it.
He criticized the role of NATO, saying that the alliance's member states "are doing nothing," describing this as "very unfortunate."
He noted that Iran “has been bad for 47 years,” adding that it is now “getting the punishment it deserves,” according to his statements.
This is the final warning... Iran threatens to target those funding the US military budget.
Iranian Parliament Speaker Mohammad Baqer Qalibaf issued warnings to US officials and military budget funders, stressing that financial institutions that support US military spending are considered legitimate targets .
Qalibaf said in a post on the “X” platform, which was followed by the “Al-Sa’a” network, that “financial institutions that fund the US military budget are legitimate targets .”
He added: "US Treasury bonds are stained with the blood of Iranians, and if you buy them, you have dealt a severe blow to your assets and headquarters. We are monitoring your investment portfolios... This is your final warning ."
He asserted that "those who finance the American war machine will be among the next Iranian targets ."
Earlier, Iranian Deputy Foreign Minister Kazem Gharibabadi warned that any attack on infrastructure would be met with proportionate countermeasures, and that all consequences arising from any escalation would fall on the perpetrators .
These developments come as the war enters its 23rd day, with the level of confrontation between Iran, Israel and the United States escalating, and strikes moving to more sensitive targets, including vital facilities and centers .
Iran affirms freedom of navigation in the Strait of Hormuz amidpotential US threats
Iranian authorities confirmed on Sunday evening that the Strait of Hormuz remains open to non-hostile vessels, hours after US President Donald Trump threatened to strike Iranian energy facilities if the strait is not fully opened within 48 hours.
Iranian Foreign Minister Abbas Araqchi stated in an interview with the "X" platform that ships are hesitant to use the Strait of Hormuz due to the potential risks associated with recent tensions. He emphasized that Iran has not closed the strait and that threats from other parties will not affect freedom of navigation and trade. He added, "Respect for freedom of navigation and trade is non-negotiable, and we demand that everyone adhere to it."
In an official statement, the Iranian Foreign Ministry confirmed that Tehran's measures are aimed at preventing any hostile use of the Strait of Hormuz by the countries involved in the threats, while emphasizing that ships belonging to non-participating countries can pass safely after coordinating with the relevant authorities. The ministry clarified that any attack on Iranian facilities will be met with a swift response that includes protecting the country's interests and targeting the energy infrastructure of the aggressor states.
These statements come at a time when the region is witnessing escalating tensions following American and Israeli attacks on sites inside Iran, which resulted in human and material losses, while Iranian authorities warn against any attempt to exploit the Strait for hostile purposes.
Mass evacuation: Cargo planes evacuate foreigners from the Joint Operations Command in Baghdad - Urgent
An informed source reported on Sunday (March 22, 2026) that all foreigners working at the Joint Operations Command headquarters in Baghdad have withdrawn and left.
The source told Baghdad Today that "the evacuation process included all foreigners present at the command headquarters, as they were transported via air cargo planes that arrived at the military bases two days ago."
He added that "the move came as part of strict security measures that coincided with the evacuation of other vital sites in the area."
Financial Times: Iran used missiles that bypassed Patriot systems
The Financial Times, citing an official, reported that Iran used advanced missiles capable of evading US Patriot air defense systems in an attack on gas facilities in Qatar this week.
The newspaper added that "in the attacks on Qatar's Ras Laffan energy complex, advanced, maneuverable missiles were used that bypassed US Patriot air defense systems."
Liquefied natural gas production and processing facilities in the Ras Laffan industrial city in northern Qatar were damaged in two missile attacks on March 18 and 19.
Iranian authorities had previously warned that they would strike energy facilities in Qatar, Saudi Arabia, and the UAE in retaliation for Israeli and US strikes targeting facilities in the South Pars gas field.
These developments come as the war enters its 23rd day, with the confrontation between Iran, Israel, and the United States escalating and strikes targeting more sensitive sites, including vital infrastructure and facilities.
Kataeb Hezbollah Extends Deadline for Suspending Attacks on U.S. Embassy in Baghdad
In a statement issued on Sunday, Abu Mujahid al-Assaf, the group’s security chief, reaffirmed the group’s political stance, declaring that “no new government will be formed without the approval of the Islamic Resistance in Iraq.”
An Iraqi armed group, Kataeb Hezbollah, has announced a five-day extension to a previously declared deadline to halt its attacks on the U.S. Embassy in Baghdad, amid ongoing tensions in the country.
In a statement issued on Sunday, Abu Mujahid al-Assaf, the group’s security chief, reaffirmed the group’s political stance, declaring that “no new government will be formed without the approval of the Islamic Resistance in Iraq.” He added that the deadline granted to the U.S. Embassy had been extended by another five days, warning that the group would respond based on what it described as “enemy violations.”
The statement also included sharp criticism of certain Iraqi political figures, accusing them of condemning attacks by the so-called Iraqi Resistance while issuing what it described as misleading positions regarding strikes on bases belonging to the Popular Mobilization Forces (PMF). The group claimed that the Iraqi public is aware of these leaders’ allegiances and sources of funding, cautioning them against “trading in the blood of the nation’s freedom fighters.”
Earlier, on March 19, Kataeb Hezbollah outlined five conditions for suspending its attacks, including a halt to Israeli bombardments and civilian displacement in Beirut’s southern suburbs, a U.S. commitment not to target residential areas in Baghdad and other provinces, and the withdrawal of Central Intelligence Agency (CIA) personnel from outside the embassy compound, except in the Kurdistan Region.
The announcement follows a series of recent missile and drone attacks targeting the U.S. Embassy within Baghdad’s heavily fortified Green Zone.
The Iraqi government has strongly condemned the attacks, labeling them as terrorist acts and violations of national sovereignty. Officials warned that continued escalation could have serious repercussions for Iraq’s internal stability and its international relations.
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