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Bin Salman congratulates Al-Zaidi: We look forward to working with you to strengthen relations
Saudi Crown Prince Mohammed bin Salman sent a congratulatory telegram on Saturday (May 9, 2026) to Ali al-Zaidi on the occasion of his appointment as head of the Iraqi government. In his telegram, bin Salman expressed his wishes for al-Zaidi to succeed in serving Iraq and its people, stressing his aspiration to work together to strengthen bilateral relations between Riyadh and Baghdad and enhance cooperation at various levels.
The Saudi Press Agency reported in a statement followed by Network 964 that “His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, sent a congratulatory telegram to His Excellency Mr. Ali Faleh Kazem Al-Zaidi on the occasion of his appointment as Prime Minister of the Republic of Iraq.”
She continued, “His Highness the Crown Prince said, ‘On the occasion of your appointment as Prime Minister of the Republic of Iraq, we are pleased to express to Your Excellency our sincere congratulations and best wishes for success and prosperity. We ask God Almighty to grant you success in serving Iraq and its brotherly people. We look forward to working with Your Excellency to strengthen the bonds of brotherly relations between our two countries and peoples, and to enhance them in all fields. We wish Your Excellency continued health and happiness, and the brotherly people of the Republic of Iraq further progress and prosperity.’ ”
On Saturday (May 2, 2029), Prime Minister-designate Ali al-Zidi received a phone call from Turkish President Recep Tayyip Erdogan, congratulating him on his official appointment to form the new government.
He also received a call from US President Donald Trump on Thursday (April 30, 2026), during which he congratulated him on being officially tasked with forming the new government, and extended an official invitation for him to visit Washington after the government is formed.
On Saturday (May 2, 2026), Al-Zidi received another call from the Emir of Qatar, Tamim bin Hamad Al Thani, congratulating him on his official appointment to form the new government. Al-Zidi also received an invitation from Al Thani to visit Qatar after the formation of the new government. link
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Paulette
I like what I am seeing in the proposed government program and especially like that Zaidi is following Khadimi's White Paper for needed reform. Recall that the White Paper specifically notes the reforms necessary with the goal of returning the IQD to Forex... Patience, it will take Zaidi some time to get the necessary laws passed and then sent to Parliament for passage in order to eradicate the current armed faction structure. ALL should very happy this morning but certainly not expectant.
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There is growing optimism surrounding the newly proposed government reform agenda, particularly because Prime Minister Zaidi appears to be continuing the economic and structural reform path originally outlined in former Prime Minister Kadhimi’s White Paper initiative. This is significant because the White Paper was designed as a long-term roadmap to modernize Iraq’s economy, reduce corruption, diversify revenue beyond oil dependence, stabilize the banking sector, and ultimately create the conditions necessary for Iraq’s currency, the Iraqi dinar (IQD), to regain broader international standing and potentially return fully to Forex trading platforms.
One of the most important aspects being discussed is that these reforms are not simply financial adjustments. They involve deep political, security, and institutional restructuring.
Zaidi’s administration is expected to work through complex legislation aimed at reducing the influence of armed factions and strengthening centralized state authority. These steps are viewed by many observers as essential before Iraq can achieve lasting economic stability and attract stronger foreign investment confidence.
Patience remains critical because reforms of this scale cannot happen overnight. Laws must first be drafted, negotiated among political blocs, approved by Parliament, and then successfully implemented. Iraq’s political environment has historically slowed reform efforts due to competing interests and factional pressures. Therefore, while the current direction appears positive and encouraging, expectations for immediate dramatic changes would be unrealistic.
The phrase “ALL should be very happy this morning but certainly not expectant” reflects cautious optimism. Supporters see meaningful progress and encouraging signals from the government’s direction, but they also recognize that the actual implementation phase is what truly matters.
In other words, there is reason for confidence, but not yet reason to assume rapid financial outcomes or sudden currency events.
The focus remains on watching whether the government can consistently follow through on reforms, pass key legislation, strengthen state institutions, and maintain political stability over time.
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Omar
The Gazette framework confirms Iraq is restructuring the FX system. They do confirm the CBI is preparing for a policy shift. It does confirm that the exchange rate discussions are now official and public. And it confirms a major monetary transaction is underway...
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This narrative reflects expectations of ongoing monetary reform in Iraq, particularly around FX system modernization and policy transparency, but it does not in itself confirm any immediate currency revaluation or structural shift.
#IraqEconomy #CBI #FXMarket #CurrencyReform #MonetaryPolicy #IraqiDinar #Macroeconomics #FinancialReform #ExchangeRate #MiddleEastEconomy #BankingReform #EconomicUpdate
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Highlights — U.S. “Economic Fury” Targets Iraq Oil Corruption & Iran-Backed Militias
Removing corruption from Iraq’s oil industry strengthens:
A stronger and cleaner financial system is essential for any country seeking a more respected and potentially stronger currency.
If oil smuggling and militia diversion are reduced:
That supports long-term monetary stability for the Iraqi dinar.
The U.S. is clearly signaling support for a more sovereign Iraqi economy independent from Iranian-controlled networks.
Many analysts believe:
Foreign investment usually increases when:
Greater investor confidence can support:
Iraq continues pursuing:
A more secure and regulated oil sector could help Iraq position the dinar as a more stable regional trade currency over time.
These developments do not guarantee a sudden revaluation (RV) of the Iraqi dinar.
However, many dinar investors view:
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Economic Fury Targets Iraqi Oil Official, Iran-Backed Terrorist Militias in Iraq
May 7, 2026 WASHINGTON—
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) increased economic pressure on Iran and its proxy militias in Iraq by designating individuals and businesses exploiting Iraq’s oil sector and undermining the country’s security.
This action includes Ali Maarij Al-Bahadly,Iraq’s Deputy Minister of Oil, who abuses his position to facilitate the diversion of oil to be sold for the benefit of the Iranian regime and its proxy militias in Iraq. OFAC is also designating three senior leaders of Iran-aligned terrorist militias Kata’ib Sayyid Al-Shuhada and Asa’ib Ahl Al-Haq.
The United States will continue to hold these groups and other Iran-aligned terrorist militias in Iraq, such as Kata’ib Hizballah, accountable for their attacks against U.S. personnel and civilians, diplomatic facilities, and businesses across Iraq, which the groups conduct without regard for Iraq’s sovereignty or democratic process.
“Like a rogue gang, the Iranian regime is pillaging resources that rightfully belong to the Iraqi people,” said Secretary of the Treasury Scott Bessent. “Treasury will not stand idly by as Iran's military exploits Iraqi oil to fund terrorism against the United States and our partners.”
OFAC is taking today’s actions pursuant to Executive Order (E.O.) 13902, which targets key sectors of Iran’s economy, including Iran’s petroleum sector, and E.O. 13224, as amended, which targets terrorist groups, their supporters, and those who aid acts of terrorism. Asa’ib Ahl Al-Haq was designated as a Specially Designated Global Terrorist (SDGT) pursuant to
E.O. 13224, as amended, and as a Foreign Terrorist Organization (FTO) in 2020. Kata’ib Sayyid Al-Shuhada was designated as an SDGT pursuant to E.O. 13224, as amended, in 2023 and as an FTO in 2025.
ECONOMIC FURY Delivers MAXIMUM PRESSURE ON IRAN
The Treasury Department is maintaining maximum pressure on Iran and targeting the regime’s ability to generate, move, and repatriate funds. Treasury is aggressively advancing Economic Fury and has disrupted billions in projected oil revenue, taken actions that have led to the freezing of nearly half a billion dollars in regime-linked cryptocurrency, and cracked down on Tehran’s shadow banking networks.
Treasury remains ready to take economic action against Iran’s defense industrial base so that Iran cannot reconstitute its production capacity and project power outside its borders. Treasury is also prepared to take action against any foreign company supporting illicit Iranian commerce, including airlines, and, as necessary, may impose secondary sanctions on foreign financial institutions that facilitate Iran’s activities—including those connected to the People’s Republic of China’s independent “teapot” oil refineries.
Any person or vessel facilitating the illicit trade of oil or other commodities, through covert trade or financial channels, risks exposure to U.S. sanctions. Treasury will vigorously target both traditional sanctions evasion schemes and the exploitation of digital assets while continuing to freeze funds stolen from the Iranian people.
Through the blockade, the Trump Administration is directly targeting the regime’s primary revenue stream, and any person or vessel facilitating the illicit flow of oil or other products risks exposure to U.S. sanctions.
CORRUPTION IN IRAQ’S MINISTRY OF OIL
OFAC today designated Iraq’s Deputy Minister of Oil, Ali Maarij Al-Bahadly (Maarij), who has been instrumental in facilitating the diversion of Iraqi oil products to benefit known Iran-affiliated oil smuggler Salim Ahmed Said (Said) as well as Iran-backed terrorist militia Asa’ib Ahl Al-Haq (AAH).
For years, Maarij has used his official positions—first as the head of the Iraqi parliament’s oil and gas committee, and then within the Iraq Ministry of Oil—to enrich Said, AAH, and by extension, Iran.
OFAC designated Said in June 2025 for running a network of companies selling Iranian oil falsely declared as Iraqi oil to avoid sanctions, including designated VS Oil Terminal FZE (VS Oil). Integral to this operation was Said’s ability to obtain favored access to Iraqi oil and procure forged documentation from Iraqi government officials, legitimizing illicit oil. To that end, Said was responsible for bribing complicit officials in the Iraqi government, as well as reportedly installing Maarij in his official position.
Since 2018, Maarij has held multiple positions in Iraq’s Ministry of Oil, including head of the licensing and contracts office, Deputy Minister, and acting Minister of Oil. In his official capacities, Maarij enabled Said to illicitly procure oil products by granting exportation rights to Said’s companies. Maarij authorized trucking several million dollars’ worth of oil per day from the Qayarah oil field to VS Oil in Khor Zubayr for export. VS Oil oversaw the mixing of Iranian oil with Iraqi oil before being shipped to market. Maarij is also responsible for falsifying documentation on the provenance of oil for Said’s network, enabling it to be smuggled to market disguised as purely Iraqi oil.
Ali Maarij Al-Bahadly is being designated pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Salim Ahmed Said.
IRAQI Militia Exploiting ResourcES
Mustafa Hashim Lazim Al-Behadili (Al-Behadili), also known as Sayyid Awn, is a leader and economic official for AAH. Following the U.S. withdrawal from Iraq in 2011, Al-Behadili played an important role in developing an oil trucking and security unit, allowing AAH to become a dominant actor in the Iraqi metals industry, as well as enabling AAH’s entrance into fuel oil theft, which focused on stolen or subsidized oil.
Working directly with U.S.-designated AAH senior leader Laith Al-Khazali, Al-Behadili controlled oil smuggling financing and oversaw mineral industry activities for AAH. In southern Iraq, Al-Behadili managed oil smuggling operations and AAH projects, using businesses, projects, and government contracts as a front for AAH financial activity.
As part of his activities on behalf of AAH, Al-Behadili was also complicit in dealing directly with Iran and the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), a U.S.-designated terrorist organization. In his capacity as AAH Economic Committee member, Al-Behadili was involved in negotiating contracts to ship oil from Iran and coordinating with the IRGC-QF on shipping AAH’s oil.
Mustafa Hashim Lazim Al-Behadili is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Asa’ib Ahl Al-Haq.
Al-Behadili owns or controls four Iraqi companies that operate in the oil sector—Gulf Energy Oil Services Limited, Gulf General Contracting Limited, Iraq International Energy for the Import and Sale for Petroleum Products Limited, and Gulf Energy for General Transport and Marine Services and Real Estate Consultancy LLC—all of which are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, or having acted or purported to act for or on behalf of, directly or indirectly, Mustafa Hashim Lazim Al-Behadili.
Iran-BACKED TERRORIST MILITIA OFFICIALS
Kata’ib Sayyid al-Shuhada (KSS) is an Iran-aligned terrorist militia that has planned and executed numerous attacks against U.S. personnel in Iraq and Syria. Ahmed Khudair Maksus Maksus is the former KSS Deputy Secretary General under U.S.-designated Secretary General Hashim Finyan Rahim al-Saraji.
Mohammed Issa Kadhim al-Shuwaili (Al-Shuwaili), operating under the alias Abu Maryam, is a senior KSS official. Since at least 2025, Al-Shuwaili has collaborated directly with Hizballah illicit finance team members, including Ali Qasir, on the purchase and delivery of weapons into Iraq. Al-Shuwaili also arranged the payment of millions of dollars to Hizballah to facilitate the purchase of weapons, and coordinated logistics related to the transfer and delivery of the weapons with Hizballah associates.
Ahmed Khudair Maksus Maksus is being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, or having acted or purported to act for or on behalf of, directly or indirectly, Kata’ib Sayyid al-Shuhada. Mohammed Issa Kadhim al-Shuwaili is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Ali Qasir, a person whose property and interests in property are blocked pursuant to E.O. 13224, as amended.
SANCTIONS IMPLICATIONS
As a result of today’s action, all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.
Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions.
In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons.
The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person.
Non-U.S. persons are also prohibited from causing or conspiring to cause U.S. persons to wittingly or unwittingly violate U.S. sanctions, as well as engaging in conduct that evades U.S. sanctions. Individuals located in the U.S. or abroad who provide information about sanctions violations to Treasury’s Financial Crimes Enforcement Network (FinCEN) whistleblower incentive program may be eligible for awards if the information they provide leads to a successful enforcement action that results in monetary penalties exceeding $1,000,000. FinCEN is currently accepting whistleblower tips.
Furthermore, engaging in certain transactions involving the persons designated today may risk the imposition of secondary sanctions on participating foreign financial institutions. OFAC can prohibit or impose strict conditions on opening or maintaining, in the United States, a correspondent account or a payable-through account of a foreign financial institution that knowingly conducts or facilitates any significant transaction on behalf of a person who is designated pursuant to the relevant authority.
The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.
https://home.treasury.gov/news/press-releases/sb0492
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