American newspaper: Iraq agreed to block dollars from reaching Iran and factions in order to resume currency shipments.
The Wall Street Journal reported Wednesday evening that Iraq has agreed to new controls aimed at preventing the flow of dollars to Iran and its militia allies, in exchange for the Trump administration lifting a four-month suspension on shipments of US currency to Baghdad, according to what it quoted from US and Iraqi officials.
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According to the newspaper report , which was followed by Shafaq News Agency, the US Treasury Department had stopped delivering banknotes in late February with the start of the war on Iran, depriving the government of Iraqi Prime Minister Ali al-Zaidi of much-needed cash liquidity from oil sales revenues deposited with the Federal Reserve Bank of New York.
With Iraqi oil exports almost completely halted due to the war, the US government exerted what the newspaper described as "enormous" pressure on Baghdad to reduce its ties with Tehran, which had used its neighbor as a major source of dollars in violation of US sanctions, according to the report.
The newspaper considered this move part of a broader effort by the US administration to urge Baghdad to move closer to Washington in the aftermath of the conflict.
Officials, as quoted by the newspaper, said that the Federal Reserve canceled at least two cash shipments on the instructions of the Treasury Department, one of which was worth nearly $500 million.
Deliveries of US dollars, aboard cargo planes chartered by the Iraqi government, resumed late last month, according to Iraqi officials.
In return, Baghdad promised to take measures to prevent Iran and its allies from obtaining dollars from Iraqi exchange companies and from paying the salaries of members of pro-Iranian "militias," according to the report.
A U.S. Treasury official said that shipments of U.S. dollars to Iraq have resumed after Baghdad committed to additional safeguards to prevent armed groups from exploiting the country's financial system.
The newspaper also quoted Iraqi government spokesman Haider al-Abudi as saying that financial transfers had resumed, but he declined to comment on the measures that Baghdad had agreed to restrict the dollar.
The terms agreed upon by Iraq were not previously disclosed. The New York Times had previously reported on the resumption of dollar shipments.
The Wall Street Journal noted that al-Zaidi, a little-known political figure who has never held office, is expected to meet with President Trump later this month in Washington.
She added that al-Zaidi was chosen by the elected Iraqi parliament as prime minister last May, after a long standoff between the United States and Iran over the selection of the country's next leader.
The report confirmed that al-Zaidi received Trump's endorsement despite owning a bank that the US Treasury Department had banned from dealing in dollars due to suspected dealings with an Iranian-linked militia leader. Iranian officials also publicly supported al-Zaidi's selection, according to the report.
He added that the White House's support came with a demand from al-Zaidi to exclude Iranian-backed militias from the next Iraqi government and reduce Tehran's influence in Baghdad. Al-Zaidi also ordered these militias to disarm and place their members under state control, according to the newspaper.
But the American demands, according to the report, involve serious political risks for al-Zaydi, and progress in reducing the influence of the "militias" is slow, according to analysts.
According to the report, previous Iraqi prime ministers have had little success in challenging the "militias," which enjoy strong support inparliament.
ed that “transporting cash dollars to Iraq is one of the most complex logistical operations, as it is carried out via private aircraft and under strict security and safety measures.” He explained that “these operations are executed according to precise arrangements that ensure the safety of the shipments until they reach the Central Bank.”
He pointed out that “the continued arrival of cash dollar shipments sends a positive signal to the parallel market and dispels rumors that disrupt exchange rates.” He considered that “increasing the level of certainty among traders gradually leads to a narrowing of the gap between the official rate of 1,320 dinars per dollar and the parallel market rate, because the sustainability of compliance and the regularity of shipments are among the most important factors for the stability of the exchange market in Iraq.”
Saleh explained that “the dollar, despite being part of Iraq’s reserves, remains subject to US monetary policy and laws as it is the currency of another country.” He clarified that “the United States stipulates that its currency not be used in a manner that contradicts its foreign policy or national security, which requires countries dealing in dollars to adhere to international compliance standards.”
He added that “the decline in demand for cash dollars during the past period coincided with the security conditions in the region, as questions were raised in the United States about the continued need for shipments given the decline in travel, before supply operations returned to normal as Iraq continued to comply with international regulations.”
Saleh pointed out that “the purchase of cash dollars by travelers is currently subject to a comprehensive monitoring system through the FTR platform, which tracks international financial transfers and transactions. The data of each beneficiary is recorded accurately, including personal information and fingerprints, to prevent duplicate purchases or misuse of cash dollars.” He explained that “each traveler receives $3,000 per month for each trip through Iraqi airports.”
He added that “electronic financial transfers are already subject to strict international oversight through global banking systems, but cash dollars require additional procedures due to the sensitivity of their circulation.” He explained that this “led to the adoption of advanced tracking systems that give Iraq a positive image before international institutions concerned with combating money laundering and the financing of terrorism.”
Saleh believes that “the development of economic relations between Baghdad and Washington, especially the Prime Minister’s upcoming visit to the United States, will positively impact the level of trust between the two sides and contribute to the stability of financial transactions.” He considers that “an improved financial climate directly impacts the stability of the local market.”
In a related context, specialists believe that linking these shipments to exchange rate fluctuations, or interpreting their suspension as a crisis with the United States, is not based on realistic data, but rather is related to air transport conditions and the security developments witnessed in the region.
Economic expert Duraid al-Anzi told Al-Mada that "the cash dollars shipped from the United States have no bearing on the Iraqi market, neither influencing the dollar's price nor its daily transactions. They do not enter the local market directly or indirectly because the incoming funds remain within the state's financial cycle and do not act as a tool to influence supply and demand within the markets."
He pointed out that "the claims made recently about a problem between Baghdad and Washington due to the halt in shipments were not supported by any official indicators," expressing surprise at "the talk of a crisis without any statement or position from either the US or Iraq confirming its existence." He considered the "suspension of civilian air traffic in the region during the war to be the natural reason behind the delay in the arrival of the shipments."
Al-Anzi added that "the resumption of dollar shipments coincided with the end of military operations and the resumption of air traffic," asking, "Were there any new meetings, understandings, secret communications, or political pressures? We haven't heard of anything of the sort." He concluded that "interpreting the resumption of shipments as a result of a political breakthrough with the United States is an inaccurate reading of reality."
He explained that “the funds arriving in Iraq are part of its oil revenues and reserves deposited with the US Federal Reserve, and are transferred according to financial mechanisms that have been in place for years.” He clarified that “the shipping process is subject to continuous auditing and monitoring procedures and does not represent a new or exceptional financial resource.”
Al-Anzi believes that “the recent increases in the dollar exchange rate are due to increased demand from entities seeking to smuggle funds, which has created an artificial supply and demand crisis within the parallel market.” He emphasized that “this crisis is fabricated and is not related to the suspension of cash dollar shipments,” noting that “regional tensions, including talk of closing the Strait of Hormuz, were not sufficient on their own to cause these jumps in the exchange rate.”
He pointed out that “discussions about the value of the shipments should be understood within the context of government needs, and that the funds are transported by private planes in periodic installments as requested, with the cost of transportation being one million dollars, while transportation and insurance operations are subject to precise financial and logistical procedures.” He affirmed that “there is no fundamental change in the mechanism for supplying Iraq with dollars.”
He added that “the incoming funds are deposited into the accounts of the Central Bank and the government, and are included in the general budget,” while simultaneously warning that “a portion of these funds was previously subject to smuggling or misuse, which prompted the financial authorities to tighten control and tracking procedures.” He considered that “confronting this phenomenon represents the real challenge, not the regularity of dollar shipments themselves.”
Al-Anzi explained that “the stability of the Iraqi market will not be achieved simply by the arrival of dollar shipments, but rather requires addressing the internal imbalances that fuel the parallel market, tightening control over the movement of funds, and combating corruption and smuggling networks.” He emphasized that “cash dollars are more closely linked to the budget and its allocations than to the activity of the local market, and that what happened during the past period was essentially a result of the suspension of civil aviation, not a result of political or financial disputes with the United States.”
Will fiscal reforms succeed in protecting the economy from oil price volatility?
The Prime Minister’s financial advisor, Mazhar Muhammad Salih, revealed on Wednesday the outlines of the government’s financial policy for the next phase, stressing that Baghdad is moving towards reducing dependence on oil revenues and domestic borrowing by expanding non-oil income sources, in conjunction with adopting a package of priorities aimed at enhancing financial sustainability and stimulating economic growth.
Saleh told Al-Mada that “the priorities of the next phase are focused on completing public finance reforms, modernizing the tax and customs systems, strengthening governance and digital transformation, improving the investment environment, supporting the private sector, reforming state-owned companies, and raising the efficiency of public debt management and government spending, in a way that contributes to diversifying the economic base, creating job opportunities, and enhancing financial sustainability in the medium and long term.”
He added that "the government is simultaneously implementing a package of measures to maximize non-oil revenues, including expanding the tax base, improving collection efficiency, developing customs administration, and enhancing digital transformation in collection systems, in addition to improving the management of state assets and maximizing government service revenues, with the aim of reducing dependence on oil revenues and borrowing in financing the general budget."
Saleh noted that "the government continues to implement measures to enhance integrity and protect public funds, through developing internal and external control systems, expanding the use of electronic systems in public financial management, modernizing government procurement mechanisms, enhancing transparency and disclosure, as well as coordinating with regulatory and judicial bodies to combat corruption and recover funds."
He pointed out that “domestic borrowing is still one of the financing options to address temporary gaps in financing public expenditures,” explaining that “resorting to it is done within carefully considered limits and after assessing the size of the deficit, available liquidity and the ability to repay, in a way that maintains financial stability and the sustainability of public debt, and prevents its negative repercussions on the banking system or the ability of the private sector to obtain financing.”
He explained that “any decline in oil exports or decrease in revenues is directly reflected in cash flows and financial liquidity, given that the Iraqi economy depends mainly on oil resources, and that the government is dealing with these changes by rearranging spending priorities, strengthening treasury management, and utilizing available financing tools, in order to ensure the fulfillment of basic obligations and the continued implementation of priority programs, in parallel with addressing the factors affecting oil revenues.”
The Prime Minister's financial advisor added that "these measures also aim to raise the efficiency of public spending, direct resources towards development priorities, enhance accountability, and achieve optimal use of financial resources, in a way that supports financial stability and prepares for an economy that is less dependent on oil and more able to face future fluctuations."
Al-Badri: Iraq will pay a heavy price because of American interventions.
Political analyst Saeed Al-Badri warned that Iraq will bear burdens and pay a heavy price due to the continued American interventions and dictates that Washington seeks to impose to ensure its control over decision-making within Iraq.
Al-Badri told Al-Maalouma that "the Iraqi government must take steps that go beyond the routine imposed in relations with the American side and other countries, so that it moves towards not accepting American dictates and interference in Iraqi internal affairs."
He added that "submitting to and accepting American interventions and policies towards Iraq will ultimately lead to paying a very high price, as happened in the past, which necessitates avoiding a repeat of the same scenario."
He explained that "America is planning to ensure its control over Iraq by taking a series of decisions that guarantee this control, especially decisions related to economic matters and issues concerning Iraq and its people."
Parliamentary move to resolve the cabinet formation issue during upcoming sessions
MP Abbas Al-Maliki stressed on Wednesday that the delay in completing the cabinet does not serve the political process, calling on political blocs to expedite the resolution of this issue and send the names of the remaining ministers to the House of Representatives for a vote.
Al-Maliki told Al-Maalomah News Agency that “the delay in completing the cabinet does not serve the political process and affects the government’s work and the implementation of its program,” indicating that “the House of Representatives informed the political blocs of the need to reach an agreement and send the names of the remaining ministers in preparation for voting on them.”
He added that "political activity is still ongoing among political forces in order to reach understandings regarding the vacant ministries."
Al-Maliki indicated that "there is a move to resolve the issue of completing the cabinet during the upcoming sessions of the Council of Representatives, which will contribute to finalizing the government formation and closing this file."
Visit to Washington: An economic gamble to boost investment
All eyes are on the upcoming visit of Prime Minister Ali al-Zubaidi to the American capital, Washington, amid expectations that it will be an important step in strengthening economic relations between Iraq and the United States, and opening new horizons for foreign investments, especially in vital sectors that are relied upon to diversify the national economy and reduce dependence on oil revenues.
The visit also represents an important milestone in the course of Iraqi-American relations, as it holds opportunities to enhance political, economic, and security cooperation, in addition to raising national and humanitarian issues of concern to the various components of the Iraqi people. This is confirmed by MP Khalid Sido, a member of the Parliamentary Security and Defense Committee, in an interview with Al-Sabah newspaper, where he indicated that Al-Zidi's anticipated visit to Washington represents an important opportunity to strengthen relations between Iraq and the United States, expressing his hope that its results will reflect positively on stability and economic development in Iraq.
Sido stressed the importance of the visit carrying a humanitarian message that confirms the state’s concern for all its components, emphasizing the need to address outstanding humanitarian issues.
He pointed out that the success of the visit should be measured by the gains it achieves for Iraq through the establishment of a genuine partnership based on respect for Iraqi sovereignty and non-interference in internal affairs, while preserving the independence of national decision-making. Sido indicated that Iraq possesses an important geographical location and great wealth that qualifies it to be an economic and strategic center in the region, expressing his hope that the visit will contribute to supporting security and stability and opening up broader horizons for economic and investment cooperation, which will reflect positively on the citizens and the Iraqi economy.
Furthermore, economic experts believe that the success of the visit will not be measured solely by the number of agreements that may be signed, but rather by Iraq's ability to convey a clear message to American investors and decision-makers that the country now possesses a more receptive environment for investments, and that it is moving towards building long-term economic partnerships that achieve common interests.
Professor of International Economics, Dr. Nawwar Al-Saadi, affirms that the most prominent economic message that the Iraqi delegation should carry is that Iraq is no longer looking for relations based on aid, but rather seeks sustainable investment partnerships based on mutual benefit.
Al-Saadi points out that Iraq has promising opportunities in the energy, gas, petrochemical, infrastructure, digital transformation, agriculture and manufacturing sectors, which are areas capable of generating rewarding returns for investors.
Al-Saadi adds to “Al-Sabah” that enhancing investor confidence requires providing clear messages regarding the continuation of economic reforms, improving the business environment, simplifying administrative procedures, enhancing governance and transparency, as well as protecting investments and continuing efforts to combat corruption, stressing that capital seeks first stability and legal guarantees before seeking profits.
The spokesperson added that it is also necessary to highlight Iraq’s orientations towards diversifying sources of income and expanding the role of the private sector, which would allow American companies the opportunity to enter as a partner in the development process, and not just as an implementer of projects. He pointed out that presenting a clear investment map supported by implementation mechanisms and legal guarantees will enhance the international community’s confidence in the Iraqi economy and open the door to quality investments that contribute to technology transfer, job creation, and economic growth.
For his part, economic researcher Ahmed Al-Ansari affirms that the Prime Minister’s visit to Washington represents an important opportunity to strengthen the economic partnership between Iraq and the United States, explaining that its success may contribute to attracting American and foreign investments to the energy, electricity, industry, infrastructure and technology sectors.
Al-Ansari adds that reaching economic understandings and agreements and sending reassuring messages to investors will enhance confidence in the Iraqi economy and encourage international companies to enter the local market, but he stressed at the same time that achieving these gains remains dependent on Iraq’s ability to improve the investment environment, consolidate stability, and accelerate economic and administrative reforms, in order to ensure that agreements are transformed into real productive projects that support economic diversification and provide new job opportunities.
Experts agree that the upcoming visit represents an opportunity to enhance Iraq’s economic standing regionally and internationally. However, its success requires following up on the implementation of any understandings and agreements that may result from it, and transforming them into tangible projects that contribute to achieving economic development, raise the level of confidence in the national economy, and support the government’s direction towards building a more diversified and stable economy.
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After the announcement of the completion of the first international financing operation for an Iraqi private sector project with an Iraqi sovereign guarantee, some observers questioned the legal justification that allowed the adoption of the sovereign guarantees contained in the budget law for the years (2023 - 2024 - 2025) despite the expiration of the law's provisions at the end of the fiscal year of 2025.
It appears that this sovereign guarantee was approved before the end of the three-year budget period, so the commitment continues.
With its procedures and approvals in accordance with the basic principles, as normal, despite the expiration of the Tripartite Budget Law No. 13 of 2023.
The implementation of sovereign guarantees for the benefit of private sector projects was approved under Article 2/3 of the Tripartite Budget Law, which grants the Federal Minister of Finance, with the approval of the Council of Ministers, the authority to issue the necessary guarantees to support the private sector in establishing strategic projects, provided that these projects are financed by foreign institutions at a rate of no less than 85 percent of the value of the equipment and production lines of the project. The law set a total ceiling for these guarantees in an amount not exceeding one trillion Iraqi dinars in its first stage before the support is expanded and implemented in coordination with international financial institutions.
The stated objective of introducing this legal provision was to support and expand the partnership with the private sector so that it could play its role in driving development, thereby enabling this sector to implement development and production projects with a direct economic impact, while attempting to attract international financing to the Iraqi business environment in a way that would contribute to bringing in technology and foreign investments.
However, the results of this attempt did not appear during the period of the three-year budget due to the political and security changes witnessed in the Middle East region. Apparently, the announcement of the completion of this financing process coincided with the movements of a team that included experts who worked in the US Treasury Department to free the Iraqi banking sector from “isolation,” according to some media reports. This team was headed by Marshall Billingslea, former US Assistant Secretary of the Treasury and former President of the Financial Action Task Force (FATF), in line with the support provided by the US Treasury and the US Federal Reserve, and with the participation of investigators from the FBI in auditing corruption files and tracking the paths of stolen funds in Iraq. This indicates an economic change in Iraq, the features of which may become apparent after the Prime Minister’s anticipated visit to Washington.
KEPPT appoints J.P. Morgan to arrange financing of its strategic US$1.6bn urea plant in Iraq
KAR Electrical Power Production Trading FZE (KEPPT)
London, July 07, 2026 (GLOBE NEWSWIRE) -- KAR Electrical Power Plant Production Trading FZE ("KEPPT") has engaged J.P. Morgan to arrange development financing for a landmark $1.6 billion urea plant in Basra, Iraq. The agreement marks a milestone for KEPPT and Iraq's industrial and economic development. KEPPT will work with the bank to progress financing for the project in conjunction with several leading Export Credit Agencies.
The proposed KEPPT urea plant will be the second operating facility of its kind in Iraq, with planned annual production capacity of 1.15 million tonnes. Once operational, the plant is expected to reduce Iraq's reliance on imported urea, ease price pressures in the domestic market, and support the country's agricultural sector. Construction is scheduled to begin in 2027, with operations expected to commence in 2030. US Engineering group KBR Inc. has conducted the front-end engineering design study for the project.
The plant will use advanced equipment and technology to reduce environmental impact while producing a strategically critical infrastructure asset for Iraq. Beyond strengthening food security and agricultural productivity, the project aims to contribute significantly to local employment and stimulate economic growth in Basra.
Established in 2015, KEPPT is one of Iraq's largest private investors, project developers and industrial operators. Led by CEO and Chairman Sheikh Mahmood Barznji, the company operates two major power plants in Basra and currently has more than 10 projects under development across agri-industrial, energy, power generation, transportation, banking and healthcare sectors. These projects represent more than $10 billion of investment in Iraq over the next five years.
Chairman Sheikh Mahmood Barznji commented, "We are delighted to welcome J.P. Morgan's involvement in this landmark project, which represents an important vote of confidence in Iraq, in Basra, and in KEPPT's long-term vision for the country. This urea plant has the potential to make a major contribution to Iraq's future by strengthening our agricultural sector, reducing dependence on imports, creating local employment, and supporting broader economic diversification. We believe this project can become a model for major private-sector-led investment in Iraq and a catalyst for further international financing into strategically important national infrastructure."
Laura Galvin, Global Head of Export and Agency Finance at J.P. Morgan, said, "We are pleased to be supporting KEPPT with what is one of the leading landmark infrastructure projects in Iraq. The KEPPT urea plant represents a significant opportunity to deliver long-term value for Iraq by developing new domestic production capacity, supporting food security and enabling greater institutional investor-led participation in critical infrastructure."
Pressure mounts to finalize the cabinet; Parliament
urges blocs to settle on nominees, vote imminent.
MP Abbas Al-Maliki stressed that the delay in completing the cabinet does not serve the political process, calling on political blocs to expedite the resolution of this issue and send the names of the remaining ministers to the House of Representatives in preparation for voting on them.
Al-Maliki said that the continued delay in completing the government formation is affecting the government's work and hindering the implementation of its program, noting that the House of Representatives informed the political blocs of the need to agree on the candidates and send their names to be presented to Parliament.
He added that political activity between the various forces is still ongoing with the aim of reaching understandings regarding the vacant ministries, noting that there are intensive contacts and consultations to accomplish this entitlement.
Al-Maliki explained that there is a trend to resolve the issue of completing the ministerial cabinet during the upcoming sessions of the House of Representatives, which will contribute to completing the government formation and ending one of the most prominent outstanding political issues.
Al-Bayati: We are waiting for a roadmap from the Ministry of Finance to address the economic challenges.
MP Mohammed al-Bayati confirmed on Wednesday that he is awaiting a roadmap from the Ministry of Finance for managing the financial situation in the coming period, given the challenges facing the Iraqi economy.
Al-Bayati told Al-Maalouma that "Iraq is going through a difficult financial phase due to its declining ability to export oil at high levels," noting that "the Ministry of Finance faces significant challenges, and we are waiting for a roadmap that clarifies the features of the next phase, the proposed solutions, and the mechanisms for correcting the financial course."
He added that "the Ministry of Finance faces complex challenges, and this is undeniable," explaining that "the next phase will be one of searching for exceptional solutions to address the significant decrease in budget revenues."
He pointed to "the importance of developing realistic and objective solutions that contribute to achieving financial stability and ensuring the state's ability to face the upcoming economic challenges."
CBI Lowers Monthly Traveler Cash Quota to $2,000
The Central Bank of Iraq (CBI) has reduced the monthly foreign currency cash quota for adult travelers from $3,000 USD to $2,000 USD to enhance market stability and promote the use of digital payments.
The CBI released updated regulatory guidelines on Wednesday regarding the mechanism for providing foreign currency to citizens traveling abroad.
According to the instruction, "The new rules set the cash quota limit for adult travelers at $2,000 USD per month, instead of $3,000 USD."
The CBI noted that this initiative is part of an ongoing effort to "optimize the management of foreign currency sales, improve resource distribution efficiency, and align with international banking best practices."
The measure is part of a broader package of regulatory reforms by the Central Bank aimed at stabilizing the money market, optimizing resource management, and ensuring equitable access to foreign currency.
CBI Directives Aim to Modernize Iraq's Travel Payments
The CBI stressed that the measures are “purely regulatory,” adding that they are part of a process to strengthen its ability to face economic changes efficiently and sustainably.
“It also aims to keep pace with global developments in payment systems by encouraging the use of electronic payment cards—both credit and prepaid cards—as a primary and secure way to cover travel expenses outside Iraq,” the statement highlighted.
Per the Central Bank, this measure enhances citizen flexibility, accelerates the digital transition, and aligns with international standards to strengthen banking trust and support national economic interests.
Digital Payments to Combat Parallel Currency Market Abuse
While the cash distribution process at airports and land borders remains the same, citizens requiring additional funds are instructed to use electronic payment cards.
This regulatory shift aims to curb lucrative black-market currency speculation caused by the gap between the official 1,320 IQD bank rate and higher unofficial parallel market rates.
The traveler dollar goes up to $2,000: Anger at social media and demands for treatment and study trips
The Central Bank of Iraq has issued new regulatory instructions limiting the ceiling of the cash share of the US dollar for Iraqi travelers to 100,000 dollars Monthly for adults, save three thousand dollars at the previous price. The Order shall be enforced immediately and shall apply to all citizens traveling through airports and border crossings, whether for tourist, medical or study purposes or the works or the performance of rituals.
In addition to the official statement issued by the bank, the action aims to develop foreign currency sales management tools, and enhance the efficiency of the distribution of materials, and guarantee its delivery The largest possible number of citizens, in addition to meeting international spending standards. The Bank is encouraged to rely heavily on electronic payment cards for the payment of additional expenses or capital, with reference to these circumstances Exceptions such as treatment or business travel can be transacted through these cards at the official adult price of 1320 dinars per dollar.
This adjustment comes in the context of a series of measures that the central bank has been taking for years to regulate demand for the dollar, in light of the relevant challenges to governance Foreign precautions and pressures on the exchange rate in the comparative market. Look at the shortcut to reducing reliance on paper money and increasing the quantitative conversion in the exchange rate.
And on Saeed's public action recovery, the fast delivery display for digital applications worked differently. You have focused most of your media efforts on organizational responsibilities and advertising goals, including a list of individual posts on platforms such as X, Facebook and Instagram expressions of concern The impact of reducing citizens' ability to make necessary travel.
Some beneficiaries also point out that the new amount is not enough for medical treatment or temporary residence abroad Economic policies affecting the middle class. Until now, organized campaigns or widespread protests have been recorded, but the shadow of the painting is confined to individual comments and media articles.
The Economic District is expected to play a role in easing the pressure on foreign exchange reserves and encouraging the official use of papers, however extended Transparency consists of some unsystematic measures. Other than that, caregivers are forced to potential dangers, such as the arrival of some passengers to informal accommodation or the postponement of essential flights, especially in the absence of comfort Treatment and training abroad. The rest of the performance will be achieved by providing the basic basis for e-documents and accepting them in the destination country, thanks to the tools to deal with the situations The exception is that it cannot be fully detailed.
The status of the decision at the time is being realized in Iraq, a continuous approach to striking a balance between the demands of financial stability and the needs of today's citizens, and building confidence On the dollar in several foreign transactions.
KRG to end cash salary payments as banking transition to conclude by August
The Kurdistan Regional Government will fully shift public-sector salary payments to the banking system after Aug. 31, ending cash payroll distribution for employees and pensioners covered by the MyAccount program.
The MyAccount project said Aug. 31 is the final deadline for beneficiaries to collect their bank cards from the banks where they opened their accounts. After that date, salaries will no longer be paid in cash, and beneficiaries who have not received their cards were urged to visit their designated banks.
The latest official figures show 862,168 public-sector salary recipients have registered with MyAccount and collected their bank cards, or 96% of all beneficiaries.
Registration rates vary by governorate. Erbil has registered 379,204 beneficiaries, or 99% of eligible recipients, and Duhok 188,164, also 99%. Halabja has registered 15,886, or 93%, and Sulaymaniyah 278,913, or 92%.
The announcement marks the final step in the KRG’s rollout of MyAccount, a program launched in 2023 to replace cash salary payments with direct deposits into personal bank accounts.
In May, the KRG said nearly 800,000 public-sector beneficiaries were receiving their salaries through MyAccount. At the time, officials reported more than 900,000 registrations, more than 800,000 bank cards issued and over 600 ATMs installed across the Kurdistan Region. The government said the ATM network would keep expanding as more beneficiaries join.
The program lets beneficiaries access their salaries through bank branches, ATMs and electronic banking services instead of collecting cash through the government’s previous payroll system.
Saleh: President Zaidi's visit to Washington and the launch of the "Energy and Development Fund" lay the foundation for a new phase in Iraq.
The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed that the Prime Minister’s anticipated visit to Washington, D.C., along with the launch of the joint Iraqi-American “Energy and Development Fund”, represent the beginning of a new phase in the path of economic and investment development in Iraq.
Saleh said the Prime Minister’s policy is based on linking a portion of oil revenues to the Resources Development Fund, with the aim of providing sustainable financing for major strategic projects, particularly in the energy, electricity and infrastructure sectors.
He explained that there is initial cooperation between Iraq and the United States to activate the “Energy and Development Fund”, noting that Al-Zaidi’s visit to Washington will contribute to resolving the main issues related to the mechanisms of the fund’s work and launching its projects.
He added that the expected funding for the fund could reach about $400 billion over thirty years, according to gradual growth linked to the performance of the projects and implementing companies, which would ensure the sustainability of funding and promote economic development.
Saleh explained that the fund will open accounts in reputable American banks to secure financing for electricity and infrastructure projects, stressing that one of its most prominent advantages is that it is not linked to the federal budget law, which is often delayed in its approval, which gives executive bodies greater flexibility in completing projects.
He pointed out that the fund will adopt an integrated monitoring system, including prior monitoring of contracting procedures and subsequent monitoring of implementation phases, which will enhance transparency and raise the efficiency of investment project management.
US Central Command: We have begun launching additional strikes against Iran.
A US official, according to Axios, said: "Tonight's strikes were more intense and widespread than yesterday's, and our raids targeted Iranian military sites near the Strait of Hormuz."
He added: "We targeted coastal radars, air defense systems, and anti-ship missile sites belonging to the Revolutionary Guard."
US Says Iran Talks Will Continue Despite Military Escalation
According to The Wall Street Journal, a US official said Washington intends to continue talks with Tehran, stressing that military action is not viewed as a substitute for diplomacy but rather as a means of increasing pressure to secure a lasting agreement.
The comments came shortly after US Central Command (CENTCOM) announced the completion of a new wave of military strikes against Iranian targets. CENTCOM said more than 80 sites were hit, including air defence systems, command and control facilities, coastal radar installations and anti-ship missile launchers, as well as more than 60 fast attack craft operated by Iran's Islamic Revolutionary Guard Corps (IRGC) near the Strait of Hormuz.
According to CENTCOM, the operation was intended to reduce Iran's ability to threaten international shipping. The command also stated that US forces remain prepared to take further action should Tehran fail to comply with existing agreements.
Iran strongly condemned the strikes, describing them as a blatant act of aggression. Iranian military officials vowed a forceful response and rejected any US role in safeguarding navigation through the Strait of Hormuz.
The latest US position followed a decision by the Treasury Department to revoke a temporary licence that had allowed Iranian oil exports until August. Washington linked the move to recent attacks on three commercial vessels transiting the Strait of Hormuz, including a Qatari liquefied natural gas tanker.
On Wednesday, CENTCOM said its forces had carried out precision strikes against more than 80 Iranian military targets in direct response to what it described as attacks on commercial shipping. In a statement posted on X, the command said the operation targeted air defence systems, command centres, coastal radar sites, anti-ship missile capabilities and more than 60 IRGC vessels operating around the strategic waterway.
The US military said the strikes were aimed at preventing further threats to international trade and maritime security.
CENTCOM stated that the vessels targeted by recent Iranian attacks included the Marshall Islands-flagged oil tanker M/T Al Raqiat, the Saudi-flagged tanker M/T Widian, and the Liberian-flagged M/T Cyprus Prosperity. It described the incidents as unprovoked attacks and a serious breach of the ceasefire agreement, as well as a violation of freedom of navigation.
The command added that US forces remain ready to respond if Iran fails to honour the terms of the agreement.
Meanwhile, Iran's Islamic Revolutionary Guard Corps claimed it had launched attacks on 85 US military sites in Bahrain and Kuwait, describing the strikes as retaliation for what it called Washington's breach of the ceasefire. The claims marked a further escalation in tensions across the Gulf.
Iran had previously warned it would respond decisively to US strikes near the Strait of Hormuz, accusing Washington of repeatedly violating the memorandum of understanding between the two countries. Iranian state media also reported that missiles had been fired towards US naval vessels operating in the region.
In a statement carried by Iranian state television, the Foreign Ministry warned of the consequences of what it described as the US violation of the agreement, saying Iran would take decisive measures to safeguard its national interests and security.
Shortly afterwards, the semi-official Fars News Agency reported that Iran had launched missiles and drones targeting US naval assets.
Separately, Iranian media reported that the Islamic Revolutionary Guard Corps had shot down a US MQ-9 drone in southern Iran, although the claim has not been independently verified.
Trump: I don't think Iran war will happen again.
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US President Donald Trump confirmed on Wednesday (July 8, 2026) that he does not believe war with Iran will return, stressing that the last confrontation "was militarily successful" and that the United States is not seeking a long war in the region.
Trump said in remarks that the Iranians "wanted to make a deal and then they fired on the ships," noting that Washington responded with "strikes ten times stronger," as he put it.
He stressed that "the first and second tier leaders in Iran are gone, and now there is the third tier," adding: "I want to end the matter in Iran, not play games with the current leaders."
The US president stressed that his country "will not accept the existence of lunatics who acquire nuclear weapons," considering that Iranian leaders "have become more rational now" after recent developments.
In the same context, Trump said that his life was "in danger" and that he was "the number one target on Iran's list," referring to the threats he said were targeting him.
On the economic front, he explained that oil prices "have risen slightly and will return to decline," stressing that "a lot of oil passes through the Strait of Hormuz, and we are not seeking a long war."
He also criticized the European position, saying that "European countries did not help us, and we did not need their help in the war on Iran."
Trump's remarks came hours after an Iranian escalation, as the spokesman for the National Security and Foreign Policy Committee of the Iranian Shura Council, Ibrahim Rezaei, announced that Tehran is considering withdrawing from the Nuclear Non-Proliferation Treaty (NPT) and changing its nuclear doctrine if it is subjected to a comprehensive American attack, stressing that Iran has "many options that it did not use even during the forty-day war."
Washington pounds Iran's "mosquito fleet" with devastating missile strikes | Headline title of a show 45 minutes in arabic so I won't be watching it
This episode's guest is
David Schenker, former US Assistant Secretary of State for Near Eastern Affairs.
Trump: We may seize Iran's Kharg Island
US President Donald Trump confirmed on Wednesday that the United States may launch a major attack on Iran, suggesting that strikes against Iran could be launched again tonight.
Trump said in remarks on the sidelines of the NATO summit in Ankara: “The Iranian strikes are a violation of the interim agreement and the Iranians are wrong to do so.”
He added: “It is likely that we will strike Iran hard again tonight, and we may seize the Iranian island of Kharg.”
He stated, “We destroyed 28 Iranian boats last night and we may destroy more boats tonight,” indicating that “the attack on Iran could be major.”
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