"NEWS ABOUT THE STATUS OF OIL & GAS LAW, DEVALUATION OF IQD, RISE OF USD", 24 JULY

 A parliamentary committee is awaiting a meeting with the President of the Kurdistan Region regarding the oil and gas law, which the Sudanese insist on approving

2023-07-23 04:55

A parliamentary committee is awaiting a meeting with the President of the Kurdistan Region regarding the oil and gas law which the Sudanese insist on approvingShafaq News/ The Parliamentary Oil and Natural Resources Committee confirmed, on Sunday, that it is awaiting a meeting with the President of the Kurdistan Region, Nechirvan Barzani, to resolve the final version of the oil and gas law, noting at the same time the insistence of the head of the federal government, Muhammad Shia’a al-Sudani, to approve it as soon as possible.

Member of the Parliamentary Committee, Ali Saadoun Al-Lami, told Shafaq News agency, “The oil and gas law is one of the important laws that are in the interest of the country, and its approval has been delayed since the first session of Parliament.”

And that “disagreements between the federal government and the Kurdistan Region have delayed the approval of the oil and gas law in Parliament since 2007 until today.”

He pointed out that “the Parliamentary Oil and Energy Committee met with the presidents of the republic, ministers, and a number of heads of political blocs, all of whom have the intention to pass the law.”

Al-Lami pointed out that “the Parliamentary Oil and Energy Committee requested a meeting with the President of the Kurdistan Region, Nechirvan Barzani, to discuss the law, and so far we have not received a response.”

He emphasized that “Prime Minister Muhammad Shia’a al-Sudani insisted on approving the oil and gas law, which organizes and arranges the oil relationship between the center and the region.”

Al-Lami explained that “70% of the disputes have been resolved, and only a few remain, and the current dispute crippling the law is how to manage the oil fields in the Kurdistan Region. In the law, management is by the federal government, but the regional government has another opinion on that.”

The oil and gas law is one of the most important differences between the federal government and the Kurdistan Region, and the parties did not reach a settlement on it throughout the past four parliamentary sessions.

During the current parliamentary session, the political blocs are counting on reaching solutions to the existing differences and pushing for understandings that satisfy all parties to pass the law.

shafaq.com

Warning Of Significant Risks Of Devaluation Of The Dinar Against The Dollar

Time: 07/24/2023 10:07:55  Read: 1,638 times  Lawyer Hazem Al-Rudaini, Vice President of the Strategic Center for Human Rights in Iraq, warned today, Monday, of the rapid depreciation of the Iraqi dinar against the dollar in recent days.

Al-Rudaini said in a statement, which Al-Furat News received a copy of, that "this matter portends an increase in the number of the poor and the unemployed, the rise in food and consumer goods, and its direct impact on the daily lives of citizens."

And he demanded, "The government and the central bank need to take quick steps to preserve the value of the Iraqi dinar against the dollar by providing it at all airports and selling it to travelers directly and without intermediaries, and following up the work of private banks that buy from the daily currency auction."

And the Central Bank of Iraq issued a statement earlier confirming that it continues to meet legitimate requests for the US dollar from the official and licensed outlets by it and at the official rate set for the beneficiary, which amounts to (1320) dinars to the dollar.

It is noteworthy that the local markets are witnessing a noticeable rise in the exchange rates of the dollar against the dinar, as it reached more than 1,500 dinars in the parallel market (the unofficial for selling foreign currency).    LINK

Al-Shabandar On The Dollar Crisis: Iraq Will Not Acquiesce, And Patience Has Limits!

Time: 07/24/2023 13:22:26  Read: 143 times  Soon, those concerned and everyone who is interested in the stability of Iraq will be sure that the dollar crisis is not primarily internal, and everything that is internal can be reformed, and that the government of the Sudanese brother is moving towards reforming the financial system in the country.

But let those who should know know that Iraq will not compromise on its sovereignty or dignity, and will not be part of the axes of conflict in the region and the world, and will not succumb to soft or hard pressure.    And he who hates him loses him, and patience has limits!   LINK

The Iraqi Parliament Discusses The Relationship In The "Significant Rise" In The Price Of The Dollar

2023-07-24 02:50  Shafaq News/ The Finance Committee in the Iraqi Parliament will host, on Monday, the Governor of the Central Bank, Ali Al-Alaq, regarding the significant rise in the exchange rate of the dollar against the dinar.

A parliamentary source told Shafaq News agency that the Finance Committee in the Iraqi Parliament is hosting, this afternoon, the Governor of the Central Bank, Ali Al-Alaq, in order to discuss the significant rise in the dollar exchange rate and the bank's procedures and plans to counter this rise.

During the past two days, the exchange rates of the US dollar against the Iraqi dinar increased dramatically, in the Baghdad markets, and in Erbil, the capital of the Kurdistan region, after Washington imposed sanctions on 14 Iraqi banks.

In this context, Moeen Al-Kadhimi, a member of the Finance Committee, told Shafaq News agency, "The government tried to control the exchange rate, by reducing the dollar from 145 to 130, and was able to provide remittances to countries to which remittances can be sent."

Al-Kazemi added, "But there are other countries from which Iraqi merchants import, and the US sanctions prevent sending these remittances, which forces these merchants to obtain dollars from the parallel market, which leads to the dollar's price remaining high in this market, and with the recent measures of the US Federal Reserve not to deal with a number of private banks, this had an impact on the rise in the price of the dollar, to reach 155."

And on the procedures of the Finance Committee in this regard, Al-Kazemi confirms, "There will be a hosting of the governor of the Central Bank and the Ministry of Finance during the next week, to find out the real reasons for the inability to control the parallel price."

Last Wednesday, the US Treasury imposed sanctions on 14 Iraqi banks in a crackdown on Iran's dollar transactions.   LINK