He warned against severing our banks' ties with the world.
Expert: Iraq avoided financial isolation, but complacency will cost us fines and a blacklist.
Economic expert Manar Al-Obaidi commented today, Saturday (June 20, 2026), on Iraq's cooperation with the Financial Action Task Force (FATF), indicating that the step means that the country is on the right track by maintaining its integration into the international banking system. However, he pointed out that this path requires Iraq's commitment to combating money laundering and the financing of terrorism in all its governorates without exception. Al-Obaidi stressed that laxity in the agreed-upon procedures will cost Iraq "a lot" and may expose it to being moved to the blacklist and international financial isolation.
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The US Embassy in Baghdad announced on Friday, June 19, 2026, quoting a US government official, that Iraq had agreed to work cooperatively with the Financial Action Task Force (FATF) to address the most strategic deficiencies in its anti-money laundering and counter-terrorism financing system, in a move that came after a comprehensive review of the Iraqi system that lasted nearly two years.
On the same day, the Central Bank of Iraq announced that Iraq had made a high-level political commitment to work with the Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF) to enhance the effectiveness of its national system in combating money laundering, terrorist financing, and the proliferation of weapons of mass destruction. The joint action plan adopted by the international group includes a package of stringent measures, most notably strengthening the detection of informal financial transfers, pursuing investigations into corruption and terrorist financing, establishing a legislative framework for virtual assets, and ensuring the enforcement of targeted financial sanctions. This is intended to expedite Iraq's removal from the enhanced monitoring list and avoid the blacklist.
Statement
Iraq is on the right track… and the responsibility is shared.
With the release of the latest statement from the Financial Action Task Force (FATF), we can be reassured that Iraq is on the right track; it has remained on the cooperative path through an agreed joint action plan, maintaining its integration into the international financial system and its banking relations, without any countermeasures.
But reassurance does not mean complacency. This achievement is not the end goal, but rather the beginning of a serious phase of work. Iraq must implement anti-money laundering laws in all their forms, and in all of Iraq's governorates and regions without exception. The responsibility here does not fall on one entity alone, but requires serious engagement from:
Executive bodies — in implementing procedures and enforcing the law.
Legislative bodies — in completing legal frameworks quickly and efficiently.
Society and the private sector — in awareness, compliance and reporting.
Let's be frank: failing to implement the agreed-upon procedures within their designated timelines will cost Iraq dearly and could expose it to the risk of being placed on the blacklist, with all the financial isolation and economic damage that entails for every citizen. The opportunity is there today, and the price will be high if we squander it.
At this juncture, it is essential to commend the role of all parties that contributed to cooperation with international institutions in this area, foremost among them the Anti-Money Laundering and Counter-Terrorist Financing Office and its professional staff, who led the recent negotiations with efficiency and competence. Were it not for their sincere efforts and tireless work, Iraq would be on the blacklist today.
Iraq is capable… and the unified national will is the way.
Economic expert: The risk of a blacklist remains if Iraq's commitments are delayed.
Economic expert Manar Al-Obaidi confirmed on Saturday (June 20, 2026) that the risk of being blacklisted still exists if Iraq's commitments are delayed.
Al-Obaidi said in an analysis seen by “Baghdad Today” that “Iraq is on the right track in the fight against money laundering and terrorist financing, following the recent statement issued by the Financial Action Task Force (FATF), while warning at the same time of the risks of laxity in implementing the agreed obligations.”
He added that "Iraq's continued participation in the cooperative process with the Financial Action Task Force through an agreed joint action plan reflects its continued integration into the international financial system and the preservation of its banking relationships, without imposing any countermeasures against it."
He explained that "this development is a positive indicator, but it does not mean the end of the challenges," stressing that "the next stage requires serious work to implement anti-money laundering laws in all their forms in all governorates and regions without exception."
He added that "the responsibility for accomplishing this task lies with various parties, starting with the executive bodies concerned with enforcing the law and implementing procedures, passing through the legislative bodies that are responsible for completing the necessary legal frameworks, and reaching the community and the private sector through promoting awareness, commitment and reporting of violations."
Al-Obeidi warned that “failure to implement the agreed-upon procedures within the specified timeframes could expose Iraq to significant losses and increase the likelihood of its being placed on the blacklist, which would have negative repercussions on the financial sector and the national economy in general.”
He pointed out that "the opportunity is still available for Iraq to complete the requirements of financial reform, stressing that neglecting it will have a high cost to the state and citizens."
Al-Obaidi praised "the efforts of the official bodies that contributed to strengthening cooperation with international institutions, foremost among them the Anti-Money Laundering and Counter-Terrorism Financing Office and its professional staff," noting that "the role played by the office in the recent negotiations was a key factor in avoiding Iraq being included on the blacklist."
rapid steps
Since the formation of the new government, two files have seen rapid progress, with hardly a day passing without signs of clear advancement. These files are the handover of weapons to the state and the fight against corruption.
The widespread national support that greeted the Prime Minister's efforts regarding the disarmament process was twofold: political and popular. Following the initiative of the leader of the Shiite National Movement, Sayyid Muqtada al-Sadr, to integrate the Peace Brigades into the state's security institutions, and subsequent initiatives by other factions, a popular and media landscape emerged in support of this direction. This revealed a public opinion that backed the actions of Sayyid Ali Falih al-Zaidi's government. Above all, these steps are based on the visions and guidance of the Supreme Religious Authority in Najaf, which has been keen for several years to give this issue considerable attention.
The success of the government's efforts in this regard can be seen in several steps, the most recent being the meeting between the Prime Minister and US envoy Tom Barrack, which resulted in security understandings that included a package of measures for disarmament and the provision of security guarantees to protect investment companies. It can also be seen in the Prime Minister's meeting with tribal leaders and his reaffirmation of the commitment to the weapons control project, as well as in the changes he made to certain key positions within the security apparatus.
In the other file, which is the file of combating corruption, the establishment of the Supreme Sovereign Council for Integrity was a gateway to thwarting major waste operations and arresting those accused of manipulating public funds, in addition to drying up the sources of corruption through a package of changes that included dismissals and transfers in sensitive financial and investment sectors.
Both documents indicate the government's determination to enforce the law and assert the power of the state. This constitutes the core of the program the government has presented since its formation.
A visit from Barak and 5 American companies!
Iraqi F-16s in Kurdistan's skies... Trump sends Basra oil to Damascus and Iran's influence is 40% less
Observers will be busy for months monitoring the names of the five companies mentioned in the lengthy joint statement between Prime Minister Ali al-Zubaidi and the US President's envoy to Baghdad, Tom Barrack. Beyond the big story of Starlink, the faster and more secure satellite internet service managed by Elon Musk, the US administration obtained a commitment from Baghdad to a major company that will install floating gas platforms in Khor al-Zubair, reducing Iraq's need for Iranian gas by up to 40%, according to statements made by officials in the Iraqi Ministry of Electricity and the Council of Representatives during an interview with 964 Network . They also spoke about envoy Tom Barrack guaranteeing a contract with another American company that will repair the oil pipeline between Iraq and the Syrian port of Banias, which has been out of service since the 1980s, to reduce dependence on the Strait of Hormuz in cases of tension and war. The point that is happening for the first time in many years is the commitment of the Iraqi armed forces to protect the airspace of Kurdistan from attacks that it is subjected to in the areas where investment energy companies operate in Sulaymaniyah, Erbil, and Duhok. This was translated into multiple visits by the leaders of the Iraqi Air Force, Army, and Military Intelligence to various areas in Kurdistan.
Xilleret Energy with TI Capital
An official in the Ministry of Electricity reveals to Network 964 that the American company “Excelerate Energy” obtained a contract with Iraq to establish a floating gas station to reduce dependence on Tehran by 35%. In one of the most prominent outcomes of the joint statement between Al-Zidi and Barak, there was a memorandum of understanding with the American company TI Capital, which stipulates proceeding with the rehabilitation of the Kirkuk-Banias pipeline, which has been out of service since the 1980s.
Iran and Russia: Confusion and Embarrassment
These moves and the orientation towards America and its companies are seen by members of parliament, including the member of parliament for oil and energy, Muhammad Ali Al-Nuaimi, as a process to establish a phase of stability in the Iraqi energy market, away from competition between countries and companies and the repeated American sanctions on Iran, as well as on companies operating in the Iraqi energy sector, which cause great confusion and embarrassment, the latest of which was the Russian “Lukoil”, which was forced to leave the Qurna fields.
A floating power plant... what about Iranian gas?
The American company “Excellerate Energy” obtained a contract with Iraq to develop a liquefied natural gas import project in the port of Khor Al-Zubair. An official in the Iraqi Ministry of Electricity told 964 that the project was scheduled to enter the initial operation phase during this year, but the war between Washington and Tehran affected the implementation process, which is being developed with the participation of companies from South Korea.
He explained that the project includes the construction of an integrated floating station to reconvert liquefied natural gas into its gaseous state, with a capacity of up to 500 million standard cubic feet per day. If it enters full operational service, we aim to reduce dependence on Iranian gas by between 30 and 35% of the import volume.
For his part, MP Mohammed Ali Al-Nuaimi, a member of the Oil and Energy Committee in Parliament, affirms that the move towards American companies establishes a phase of stability in the Iraqi energy market, away from competition between countries and companies, especially if we know that Washington holds the reins of the Iraqi economy through the dollar file.
Al-Nuaimi explains to 964 that the repeated US sanctions on companies operating in the energy sector, some of which are inside Iraq, such as (Lukoil), have put Iraq in a difficult and confusing situation, making the option of American companies better, in terms of experience and efficiency, as well as avoiding repercussions that Iraq cannot deal with.
Barak and billions of dollars towards Banias
The memorandum of understanding with the American company TI Capital stands out as one of the most prominent outcomes of the joint statement, as it stipulates proceeding with the rehabilitation of the Kirkuk-Banias pipeline, the Iraqi-Syrian pipeline that has been out of service since the 1980s. According to oil expert Kovand Sherwani, a new pipeline with a length of 800 kilometers will take 2-3 years with a budget of up to 4-5 billion dollars.
Air Force and 3 companies in Kurdistan
The recent understandings also included enabling oil companies operating in the Kurdistan Region, most notably HKN, Western Zagros and Hunt, to resume their operations after a halt or partial suspension of some of their activities during the past period, within new arrangements related to providing security guarantees for their work inside the oil fields, following the visit of the Chief of Staff of the Army, Lieutenant General Abdul Amir Yarallah, to the region last Saturday.
The dollar continues its rise... a new surge disrupts local markets.
Following the FATF decision, economists warn of a heavy cost and financial isolation for Iraq after its return to the grey list.
Economic experts warned on Saturday of the repercussions of Iraq's return to the "grey list" of countries under enhanced monitoring regarding efforts to combat money laundering and financial crimes, stressing that the slowness in addressing this issue could land the country on the "black list," where Baghdad faces international financial and economic isolation.
A step backward and an international alarm bell
In this regard, Ziad Al-Hashemi, a researcher and consultant in economics and international transport, said in a blog post that Iraq’s return to the Financial Action Task Force’s grey list after it was removed from it in 2018 represents a step backward and an international alarm bell indicating that compliance standards for combating money laundering and terrorist financing are still not being properly implemented.
He explained that "this negative development reveals a clear deficiency in the implementation of anti-money laundering and smuggling plans, which puts the Central Bank and the banking system in a worrying position before international financial institutions, and will increase the caution of international banks, especially correspondent banks that work with Iraq in completing dollar transfers."
Al-Hashemi pointed out that the expected result of this inclusion is to impose more scrutiny on foreign transfers, and to obligate the Central Bank to take complex measures to stop suspicious transactions, indicating that these steps may take a long period of reviews and adjustments to implementation and monitoring procedures.
Compliance costs and parallel market pressures
From an economic standpoint, the economic consultant confirmed that listing inevitably means higher compliance costs and foreign transfers, a slowdown in investment flows, increased pressure on exchange rates in the parallel market, and growing demand for cash transactions outside the banking system, with a possible increase in the cost of external borrowing.
For his part, the head of the “Iraq Future” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, warned in a written statement of the seriousness of this inclusion, saying: “The failure to complete the agreed procedures within the specified timeframes will cost Iraq a lot, and may expose it to the risk of being placed on the blacklist with its financial isolation and economic damages that affect the daily livelihood of the citizen,” stressing that the opportunity is still available to remedy the situation, but the cost will be exorbitant if it is missed.
The official position: A national plan and avoiding a "black" situation.
In contrast, the Anti-Money Laundering and Counter-Terrorism Financing Council, in cooperation with the Central Bank of Iraq, announced the adoption of a joint and specific action plan to develop the national system, stressing that Baghdad has succeeded through its proactive measures in avoiding the international “blacklist” by complying with standards and addressing weaknesses identified by international and regional groups.
The Council explained that the approved national plan indicates that the competent Iraqi authorities have made tangible progress since the adoption of the mutual evaluation report in November 2024, including the application of market entry controls and the introduction of risk reduction measures in the real estate sector, indicating that the enhanced follow-up path has been accompanied by many countries of the world and the region based on “Quality and Consistency” reviews and adjustment of weights and assessments due to the nature of the existing risks.
FATF decision and justifications for international listing
These field positions come in conjunction with the announcement by the Financial Action Task Force (FATF) yesterday, Friday, that Iraq has been officially placed on the "grey list".
The group’s chair, Elisa de Anda Madrazo, said in a statement translated by Shafaq News Agency that “the group’s plenary meeting decided to add Iraq to the enhanced monitoring list, as there is still an urgent need to take measures to address the risks associated with heavy cash transactions, increase judicial investigations related to money laundering, and enhance the use of financial information.”
Government priorities and anticipated financial reform
This shocking international decision and financial controversy comes at a time when the new Iraqi government is asserting that economic reform and combating corruption are the cornerstones of its ministerial program. Prime Minister Ali al-Zubaidi had announced, since taking office last May, that rebuilding the financial system, attracting foreign investments, and fighting corruption channels would be at the forefront of his government’s program.
It is worth noting that the Financial Action Task Force (FATF) announced in July 2018 that Iraq had been completely removed from the monitoring and surveillance zone, as a result of the significant progress made by the Central Bank of Iraq and the Anti-Money Laundering Office at the time in fulfilling international obligations and implementing a comprehensive financial compliance strategy, with broad participation from governmental, judicial and security systems, including the Supreme Judicial Council, the Ministries of Interior, the National Security and Intelligence Services, the Counter-Terrorism Service, and counterpart agencies in the Kurdistan Region.
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Economic expert: The risk of a blacklist remains if Iraq's commitments are delayed.
Economic expert Manar Al-Obaidi confirmed on Saturday (June 20, 2026) that the risk of being blacklisted still exists if Iraq's commitments are delayed.
Al-Obaidi said in an analysis seen by “Baghdad Today” that “Iraq is on the right track in the fight against money laundering and terrorist financing, following the recent statement issued by the Financial Action Task Force (FATF), while warning at the same time of the risks of laxity in implementing the agreed obligations.”
He added that "Iraq's continued participation in the cooperative process with the Financial Action Task Force through an agreed joint action plan reflects its continued integration into the international financial system and the preservation of its banking relationships, without imposing any countermeasures against it."
He explained that "this development is a positive indicator, but it does not mean the end of the challenges," stressing that "the next stage requires serious work to implement anti-money laundering laws in all their forms in all governorates and regions without exception."
He added that "the responsibility for accomplishing this task lies with various parties, starting with the executive bodies concerned with enforcing the law and implementing procedures, passing through the legislative bodies that are responsible for completing the necessary legal frameworks, and reaching the community and the private sector through promoting awareness, commitment and reporting of violations."
Al-Obeidi warned that “failure to implement the agreed-upon procedures within the specified timeframes could expose Iraq to significant losses and increase the likelihood of its being placed on the blacklist, which would have negative repercussions on the financial sector and the national economy in general.”
He pointed out that "the opportunity is still available for Iraq to complete the requirements of financial reform, stressing that neglecting it will have a high cost to the state and citizens."
Al-Obaidi praised "the efforts of the official bodies that contributed to strengthening cooperation with international institutions, foremost among them the Anti-Money Laundering and Counter-Terrorism Financing Office and its professional staff," noting that "the role played by the office in the recent negotiations was a key factor in avoiding Iraq being included on the blacklist."
The dollar as a weapon of pressure: An expert warns of American dominance over the Iraqi economy.
- 20 Jun 11:30
Economic expert Faleh al-Zubaidi stated on Saturday that the United States is using the dollar as a tool of pressure and blackmail against Iraq to advance its interests and agendas in the country.
In a statement to the Information Agency, al-Zubaidi explained that "the visit of US envoy Tom Barrack to Iraq comes within the framework of attempts to impose political dictates and conditions on the Iraqi government."
He added that "the dollar and the global financial system are subject to American hegemony, which is sometimes used as a means of pressuring countries, including Iraq, to achieve specific gains and interests."
He pointed out that "Washington may resort to economic and financial pressure tactics if Iraq does not comply with these dictates or imposed directives."
He emphasized that "the current economic reality requires strengthening Iraq's financial independence and reducing reliance on external financial instruments in order to preserve the country's economic sovereignty."
MP: Economic reform begins with activating the private sector
MP Ali al-Zirjawi called on the Prime Minister on Saturday to activate the role of the private sector and alleviate pressure on the country's general budget, given the current economic challenges.
Al-Zirjawi told the Information Agency that "the large operational expenditures in the general budget have caused recurring economic crises and affected the state's ability to implement sustainable development projects."
He added that "Iraq is currently experiencing an economic crisis as a result of mismanagement and poor planning, in addition to regional tensions that have negatively impacted the overall economic situation."
He pointed out that "addressing this crisis requires genuine economic reforms, foremost among them supporting the private sector and reducing reliance on government operational spending."
He stressed that "the current stage necessitates adopting more flexible economic policies to ensure the stability of the national economy and improve the level of services."
Al-Zaidi at the White House… “Starlink” and the oil fields are Baghdad’s gateway to breaking Washington’s favor
The whispering voice from the back corridors of diplomacy indicates that the Iraqi Prime Minister, Ali al-Zaidi, has become the fastest Iraqi Prime Minister to reach the White House after assuming office, in a visit that resembles not the rituals of routine protocol as much as it resembles the inauguration of a new geopolitical “threshold,” in which the chemistry of interests is intertwined with the fuel of strategic caution.
Behind the scenes in Washington, the anticipated visit is seen as marking a new phase in the relationship between Baghdad and Washington. It's not merely about exchanging agendas, but rather an attempt to forge broader cooperation on critical issues such as energy, the economy, and security.
As the drafts of the initial agreements whisper, there is a bold ambition to expand the presence of American companies in Iraq, particularly those operating in the southern oil fields, as well as granting important licenses to Starlink, in a move that symbolizes a breakthrough into Iraq’s troubled digital space.
However, this bright horizon is not without clouds in the form of looming obstacles, given the continued influence of Iran and armed factions in the Iraqi scene.
Here, specifically, the bitter reality is revealed; the statesman who tries to tame the factional dragon is dancing on the edge of an abyss, where the sounds of missiles sometimes rise above the voice of reason.
Al-Masalla highlighted a telling tweet by Iraqi political analyst Ghalib al-Nahi, who wrote: “Al-Zaidi’s visit is not a sightseeing trip… The man carries a briefcase full of promises, but he knows that the real decision-maker may not be in Baghdad or Washington.” In contrast, international relations professor Renad Mansour wrote on his account: “Granting Starlink licenses is a test of sovereignty… Does the Baghdad government have the luxury of opening up airspace without prior permission from the factions and Iran?”
Sources confirm that Washington has received initial positive signals regarding a number of demands that it had previously conveyed to the Iraqi government. The sources describe Barak's visit as pivotal in the course of Iraqi-American relations, considering that it establishes a different phase from that which followed 2003, based on clear commitments and mutual interests.
The burning core that could derail the negotiations, according to those sources, is the most prominent American demand to disarm all armed factions without exception, prevent their participation in the government, and complete the integration of the Popular Mobilization Forces into official security institutions after removing leaders associated with armed factions.
Today... technical talks between Tehran and Washington
Switzerland is hosting a new round of technical negotiations between the United States and the Islamic Republic of Iran on Sunday, amid rapidly evolving regional developments that included the closure of the Strait of Hormuz and the declaration of a ceasefire in Lebanon, according to international and regional media reports.
The Iranian news agency IRNA reported that a high-level Iranian delegation, including Parliament Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, along with a number of economic and security officials, headed to Switzerland to follow up on the implementation of the memorandum of understanding with the American side.
In the same context, CNN reported that US Vice President JD Vance had traveled to Switzerland to participate in the negotiations, while the Pakistani Foreign Ministry confirmed that technical talks would be held in Burgenstock, under joint mediation by Pakistan and Qatar.
Iranian Foreign Ministry spokesman Ismail Baghaei explained that the visit aimed to follow up on the other party's commitments under the memorandum of understanding, stressing that any final agreement hinges on the implementation of the previously agreed-upon commitments, given what he described as past experiences of "non-compliance." Commitment.
Following an Iranian threat, Netanyahu orders the Israeli army to cease fire in Lebanon.
Israeli Prime Minister Benjamin Netanyahu ordered his army on Saturday to halt military operations in Lebanon.
Israeli Channel 12 reported that "at the behest of Netanyahu and Katz (Israeli Defense Minister Yisrael Katz), the army is ceasing fire in Lebanon."
It added, "However, the army will not withdraw from the areas it controls."
This comes after the Iranian Khatam al-Anbiya Construction Headquarters announced on Saturday the closure of the Strait of Hormuz due to the United States' violation of the first clause of the Memorandum of Understanding.
A statement from the headquarters read, "Given America's blatant breach of its promise and violation of the agreement regarding the non-implementation of the first clause of the Memorandum of Understanding to end the war, and in response to the ongoing and continuous violation of the ceasefire by the Zionist entity in southern Lebanon, the brutal killing and displacement of hundreds of thousands of the oppressed people of this land, and given the Zionist occupation forces' failure to withdraw from southern Lebanon, the Central Authority of Khatam al-Anbiya announces the closure of the Strait of Hormuz to maritime traffic."
The statement indicated that "this first step comes in response to the enemy's breach of its commitments, and if the aggression continues, further steps will be planned and taken to force the enemy to fulfill its obligations."
The US military is monitoring Iran's announcement of the re-closure of the Strait of Hormuz.
The US military announced Saturday that it is maintaining a state of “vigilance” after Iran announced it would re-close the Strait of Hormuz in response to Israel’s continued strikes in Lebanon, which was supposed to be included in the understanding with Washington to end the war in the Middle East.
The US Central Command (CENTCOM) said in a statement, “US forces continue to be present and vigilant to ensure compliance with and implementation of all provisions of the agreement with Iran, and to ensure that it remains fully in effect,” adding, “Safe passage through the international waterway remains available and unimpeded today.”
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Economic Advisor Samir Al-Nusairi: Iraq's Exit from the Grey List Was Achieved 8 Years Ago:
0:06 for trade policies, for attracting investment, and for supporting local investors?0:12 Iraq has actually exited the gray area.0:20 In light of the follow-up by the Financial Action Task Force (FATF), Iraq exited the gray area in 2018 — not now. It moved from the gray area to the regular monitoring area, which is reviewed every two years.0:29 And this actual exit made this organization (FATF) follow the developments that accompanied the Iraqi financial system since 2018.0:38 A national strategy was issued to combat money laundering and terrorism financing for the years 2017-2021 and then for 2021-2023.0:49 This national strategy is implemented by the Central Bank of Iraq along with the relevant institutions inside Iraq.1:08 These institutions are: the Anti-Money Laundering Office, the Anti-Money Laundering Council, and the Committee for Freezing Terrorist Assets.1:17 These entities and formations played a fundamental and important role.1:26 The Iraqi government, according to the first recommendation of the Forty Recommendations issued by the Financial Action Task Force, bears the responsibility of evaluation and follow-up.1:41 Meaning, remaining on this monitoring path will have an impact...
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