Oil prices dropped 6% on Thursday after OPEC+ accelerated its plan to increase oil output in May, compounding losses from US President Trump’s new tariffs, with Brent futures falling by $4.51 to $70.44.
In today’s OPEC+ ministers’ meeting, countries decided to raise output by 411,000 bpd in May, more than the originally planned 135,000. On Wednesday, ;
Trump unveiled a 10% minimum tariff on most goods imported to the US, the world’s largest oil consumer.
: Reuters/ file
There is a lot of expectation on all fronts with RV and the different program payments, special bonuses, private transactions... EVERYTHING!
Many people are waiting for the 🆗✅ that their money is now available to spend from their accounts.
A lot of nervousness and joy in anticipation of what is to come, which we already know is wonderful.
There is not much information because in truth what is happening is what has been happening: more people updating their data and more people receiving liquidity.
Wait for your payment confirmation to arrive, either for those who are in all those different groups or for those in T 4B with the official notification.
TNT Tony said that Iraq had nothing more to comply with and that some release news was expected after DJT's "rally" yesterday regarding Making America Rich-Wealthy Again."
As we have seen, nothing has been announced yet and we must remain attentive and patient until the time comes.
E-commerce: Platforms, E-stores, and the Iraqi Economy
E-commerce: Platforms, E-stores, and the Iraqi Economy Between Reality and Potential
E-commerce in Iraq is a modern and growing sector that is attracting increasing interest from both individuals and businesses.
Despite facing challenges due to the country's economic and political conditions, Iraq has made notable progress in this field. This growth is driven by improvements in digital infrastructure, the expanding availability of the Internet and smartphones, and a shift in consumer behavior toward online shopping.
However, e-commerce in Iraq still faces significant obstacles, including low trust in electronic payment methods, insufficient regulatory frameworks, and logistical difficulties in shipping and delivery.
Nevertheless, with government support and a rising interest in digital entrepreneurship, the sector is expected to experience sustainable growth, ultimately contributing to the national economy.
The global TIR transit system became fully operational in Iraq on April 1, 2025.
The International Road Union (IRU) said that Iraq is poised to strengthen its position as a key trade hub in the Middle East, making goods transport more efficient and secure across the country’s borders and beyond. The initiative connects southern and northern Iraq, also providing an efficient trade corridor linking Asia, the Gulf Cooperation Council (GCC) region, Türkiye and Europe.
Iraq transport minister H.E. Razzaq Muhaibes Al-Saadawi said: “The operationalisation of the TIR system in the Republic of Iraq, in which IRU played a significant role, marks a significant milestone as it places the country on the brink of a new phase of potential investments and interregional trade with our neighbours and other countries in the region.”
The TIR system is expected to leverage Iraq’s strategic location and to increase the efficiency of cross-border trade, and it is forecast to reduce transport time by 80 percent and costs by 38 percent. “For the last two years, we have been working tirelessly on upgrading the road transport infrastructure in cooperation with all relevant parties. We are therefore committed to maximising the advantages of the TIR system in Iraq to boost the transport sector and the national economy,” said Al-Saadawi.
IRU secretary general Umberto de Pretto, commenting on the launch, said: “For almost eight decades, TIR has been driving secure trade. I look forward to seeing the first TIR truck crossing the territory of Iraq.
“Trucks will seamlessly transit the country and proceed along corridors offering a high level of security, opening a new chapter for the country and its role in international trade.”
The integration of TIR’s Electronic Pre-Declaration (TIR-EPD) system with Iraq’s national URUK platform allows the submission of advance cargo information. Throughout a journey, trucks can be closely monitored using GPS tracking, while regular checkpoints ensure cargo and transport security, before it ultimately reaches its final destination safely and on time. link
...I do not believe for one second, they intend to use the US dollar anymore for trade in the near future, actually they just told us this recently, so we know it's now a FACT.
They told us they will be using their own currency – the digital dinar.
If this ain’t a WOW! I don’t know what is…lol...But how can they do this without the IQD on FOREX...
ASYCUDA representative to Rudaw: Iraq has completed the automation of 18 border crossings.
ASYCUDA's representative in Iraq, Nizar Al-Ammari, confirmed that the customs automation system is currently implemented at 18 of the 21 ports, with difficulties in implementing it on the Syrian border despite the port's readiness.
He noted that two additional ports (one sea and one land) will be operational by the 15th of this month, thus completing the automation of all Iraqi ports.
Al-Amari told Rudaw Media Network on Wednesday (April 2, 2025) that the ASYCUDA system focuses on the three basic customs operations: import, export, and transit, and includes all customs procedures from the moment goods are registered until they leave the customs port. All of these operations have become fully electronic, including payment.
He added that the system has entered its second phase, which includes automating the remaining ports and adding new applications to improve monitoring and maximize trade revenues. The third phase will include the implementation of a single window for foreign trade, which will make all foreign trade operations in Iraq fully automated, eliminating any paper transactions or cash paymen
ts.
Al-Amari emphasized that the new system will improve the accuracy of trade statistics in Iraq, helping to develop clear economic and strategic plans, a matter of utmost importance to the international community. He explained that the automation of customs will enhance trade fairness for all traders, as customs laws will be applied uniformly to all.
He pointed out that the system automatically calculates customs duties and regulates import and export permits, reducing the possibility of tampering with customs data. He emphasized that work is also underway to link the Iraqi system with those of neighboring countries, which will enable the identification of incoming goods before they arrive in Iraq, thereby limiting any attempts at manipulation or smuggling.
He stressed that the United Nations respects the sovereignty of states and regions, and that its role in Iraq is limited to providing technical and economic advice without political interference. He noted that the ASYCUDA system was agreed upon between the Iraqi federal government and the Kurdistan Regional Government.
Regarding the implementation of ASYCUDA in Kurdistan, Al-Amari pointed to three options: first, the Kurdistan Region would continue to use its current system or a different system with the possibility of linking it to ASYCUDA, provided it complies with international standards. Second, the Kurdistan Region would adopt the ASYCUDA system in full in the region through the Iraqi government, but this would be a complex option due to the linguistic and technical differences between the two systems.
The third option is to develop the ASYCUDA system in Kurdistan independently, linking it to the Iraqi system, as is the case in many countries that adopt unified systems with integration between local and international systems, he said. link
IMO these next two months where they will be educating you [Iraqi citizens], they will let you hold them [lower notes] and see them and touch them and ask questions which is all part of the monetary reform education,
the Asraflak that they're doing right now, that's how they defined it, monetary literacy and your new banking reform and international status and digitalization mechanism...
The first week, the beginning of a new quarter of April cannot be wasted again. If it is, shame on Iraq.
Al-Sudani's advisor to Rudaw: US tariffs do not include oil and gas, and their impact will be zero.
Mazhar Mohammed Salih, financial and economic advisor to the Iraqi Prime Minister, downplayed the impact of the US decision to impose a 39% tariff on Iraqi products, noting that Iraq has no significant exports to the US market.
Mazhar Mohammed Saleh told Rudaw Media Network on Thursday (April 3, 2025): "The US customs tariffs do not include oil and gas, which means that the impact of this move on Iraq will be zero, because Iraq does not have any other noteworthy goods exported to America that could be subject to customs duties."
Saleh explained that "Iraqi crude oil exports to the United States do not exceed $5 billion annually, and the US market is considered a secondary market for Iraq compared to those of China and India, where approximately 70% of Iraqi oil is exported."
Regarding the import of American goods to Iraq, he noted that "Iraq imports 90% of its goods and civilian needs from Turkey, India, China, the UAE, and some European countries," describing the American market as a "secondary market" compared to Asian and European markets.
Al-Sudani's advisor said, "The Strategic Framework Agreement signed between Iraq and the United States in 2008 has protected Iraq from shifts in the US's highly protectionist policy, particularly with regard to the imposition of customs duties."
US President Donald Trump announced on Wednesday the imposition of 39% tariffs on imports from US trading partners, including Iraq. link
Mazhar Muhammad Salih: The urban renaissance continues thanks to the three-year budget.
4/2/2025
The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed that the financial and legal flexibility provided by the budget law (the three-year budget), in accordance with the amended Financial Management Law No. 6 of 2019, has enabled the executive authority to implement its government service program without interruption, which has contributed to achieving a continuous urban renaissance in all governorates of the country.
Saleh explained to Al Furat News Agency that "the 2025 financial tables, which will soon be submitted to the House of Representatives in accordance with Article 77/Second of the Triennial Budget Law, will include some important adjustments in spending, revenue sources,
and deficit management, especially after the House of Representatives approved, in early February, the amendment to Article 12 of the law, related to the mechanisms for calculating the extraction of Kurdistan Region oil in the areas of production and transportation."
He pointed out that "the financial track is proceeding smoothly and with a high level of governance, transparency, and financial integrity, through coordination between the legislative and executive authorities."
The pentecostal group leader Betzabe report they are liquid ,
due of a leak she no longer going to do group invitations ,
she will deliver under strict conditions but great news they are liquid ..
ITS about the leader BETZABE CEBALLOS she is the only one has the green light ,from THE FMI approve from Switzerland,
all projects will be funded by the pentescostal group in other words she will trigger THE GCR expecting a big surprise will shock the world this week ....
RAFIDAIN BANK GENERAL MANAGER: FINANCIAL TECHNOLOGY IS THE FUTURE OF THE BANKING SECTOR IN IRAQ
Rafidain Bank’s General Manager, Ali Al-Fatlawi, confirmed that the bank has witnessed a qualitative transformation in recent years, becoming a pillar of the modern Iraqi banking sector through adopting financial technology, enhancing banking inclusion, and adhering to international standards of integrity and compliance.
Al-Fatlawi said in a statement reported by the official news agency, and reviewed by “Al-Eqtisad News,” that the success was not merely the result of administrative decisions, but rather an integrated vision based on investing in human capital, building strategic partnerships, and upgrading banking services in accordance with the latest international standards.
Al-Fatlawi believes that no financial institution can achieve success and sustainability without qualified personnel possessing modern skills. Therefore, investing in the development of the bank’s employees was one of our main priorities. We allocated large budgets for training, sent our staff to educational programs inside and outside Iraq, and contracted with the American University in Baghdad to implement advanced programs in banking management, financial risks, and compliance.
The General Manager of Rafidain Bank added that enhancing financial integrity was a priority, and we adopted advanced systems to combat money laundering and terrorist financing, including the UN-supported GoAML system, and cooperated with the global company K2 to develop compliance systems. He indicated that these steps strengthened the confidence of international regulatory and banking authorities in the bank and contributed to improving our position in the financial market.
He pointed out that financial inclusion is not an option, but an economic necessity. Therefore, we launched a team specialized in developing banking initiatives and contributed to the settlement of electronic payment revenues for most government departments, which reduced reliance on cash. We also launched electronic payment services that facilitated the easy collection of dues for employees and retirees.
He announced the launch of the ATM service for the first time, and the introduction of a savings card as a new service to enable customers to invest their money intelligently. We are also in the process of issuing a credit card, which will facilitate financial transactions inside and outside Iraq, placing us among the ranks of digitally advanced banks.
The General Manager of Rafidain Bank pointed to the establishment of partnerships with global institutions such as Ernst & Young (EY) to develop banking governance, and with K2 Global to enhance financial compliance, noting that these partnerships have increased the efficiency of our operations and made us more compliant with international banking standards.
He explained that Rafidain Bank is at the beginning of a new, more advanced and influential phase in the Iraqi financial landscape, as we continue to launch digital services, enhance financial inclusion, and expand our international partnerships. He indicated that we aspire to make Rafidain Bank a model of banking leadership in Iraq and the region.
Comment: Rumors floating around are that the RV is today and banks are exchanging...
MarkZ: Yes a lot of them are saying that. Others are saying lower denominations are out. My contacts on the streets in Iraq are saying they wish that was a fact…but they don’t have any and they can’t find any.
Let’s hope those folks are right about RV today...
Iraq is recovering... an important message from Grand Ayatollah Sistani to the Iraqi people
Iraq's highest religious authority, Grand Ayatollah Ali al-Sistani, called on Iraqis on Tuesday to adhere to their national principles and maintain hope for the future.
In a message conveyed by one of his representatives and monitored by the Video News Agency, Ayatollah Sistani said, "The country is moving toward recovery and stability," calling on everyone to "not fear and to cling to hope for a better future."
According to the letter, Ayatollah Sistani emphasized "the importance of Iraqis adhering to authentic customs, values, and principles, as they are the foundation that preserves the unity and identity of society."
According to the letter, Ayatollah Sistani specifically addressed the Shiite sect, saying, "Shias possess a great cultural heritage, and it is essential that they recognize and preserve it as part of their cultural and historical identity." link
Iraq's dinar is not on credit cards going live in any country until they do what they are supposed to do.
Article quote: "We're in the process of issuing which will facilitate financial operations inside and outside of Iraq."
That is huge because once they're able to use these cards outside of Iraq they should have an international acceptable exchange rate that's in compliance with the IMF's Article VIII, Article IV compliance issues.
One of them is in Iraq...American "BlackRock" acquires ports in the Middle East
US asset management firm BlackRock and Italian shipping company MSC have acquired 43 ports owned by Hong Kong-based multinational CK Hucheng Holdings in a deal that will give the US asset manager control of 12 ports in the Middle East, located on strategic coasts stretching from the UAE and Oman to Iraq and Egypt.
In March 2025, a consortium of BlackRock and MSC reached a $22.8 billion deal to acquire 43 ports owned by CK Huzhen, a Hong Kong-listed company owned by one of Asia's richest men, 96-year-old billionaire Li Ka-shing.
The deal made headlines because it would give BlackRock and MSC control of two ports at each end of the Panama Canal, the strategic waterway that US President Donald Trump has threatened to seize to limit China's influence in the Western Hemisphere.
But the agreement's impact extends beyond Panama to the Middle East, where Arab countries, particularly the Gulf states, are seeking to diversify their economies away from oil. The shipping and ports sectors represent another source of economic diversification for these countries.
Which ports will BlackRock and MSC acquire in the Middle East?
Under the deal reached between the US-based BlackRock and Italy's MSC Group, the two companies are set to acquire 12 ports in the Middle East, distributed as follows:
Egypt (5): Alexandria - Dekheila - Abu Qir - Ain Sokhna - and the new B100 berth at Alexandria Port
I have a family friend who has a contact with a Branch Manager and Everything is Bigger in Texas
He was told this Morning that CODES ARE BEING ENTERED.
AGAGAGAGAGAGAGA
3:08 PM 2025-03-31
---
BROTHERS TECHNOLOGY
He received a call last night and her message was that codes were successfully implemented and computers were updated for crypto use and we should be a go after 4:00 today. Also she didn't know why it haven't happened yet.
FYI RLUSD IS LIVE FOR ENTERPRISE USE.
BROTHERS TECHNOLOGY INC
... 20h My family friend spoke with his branch manager friend earlier and she told him everything was a success and today or tomorrow she said. ЛОЛОЛО ЭЛОЛОЛ
Iraq and the Appeasement Strategy: A Difficult Balance in Times of Pressure
Iraq has recently faced a significant escalation in US economic and financial pressure, primarily targeting dollar transactions and Iranian gas imports, along with repeated demands regarding the future of the Popular Mobilization Forces.
These pressures come as part of Washington's efforts to isolate Iraq economically from Iran, with the aim of strengthening the effectiveness of sanctions imposed on Tehran to force it to reassess its nuclear program.
However, this policy presents Iraq with complex challenges as it attempts to maintain a delicate balance in its foreign relations.
Recent reports indicate that the United States has refused to renew the waivers that allowed Iraq to import gas and electricity from Iran. This was confirmed by Iraqi Foreign Minister Fuad Hussein on March 19, 2025, who noted that Washington described the decision as "irreversible."
This decision threatens to exacerbate the energy crisis in Iraq, which relies heavily on Iranian gas to power its power plants. Imported gas accounts for approximately 40% of the country's total energy needs, according to estimates from the Iraqi Parliament's Oil and Gas Committee.
On the financial front, the United States is seeking to restrict dollar transactions in Iraq to prevent its smuggling to Iran, which is suffering from massive economic pressures due to sanctions. According to a report, Washington believes that
cutting off these financial arteries will directly weaken Tehran, thus strengthening the impact of the sanctions.
But this approach places the Iraqi government in a difficult position, as Iraq holds financial reserves exceeding $100 billion in the United States, making it dependent on Washington's goodwill to access its oil revenues.
Separately, statements by the Iranian ambassador to Baghdad, Mohammed Kazem Al-Sadiq, on March 27, 2025, sparked widespread controversy when he said that US President Donald Trump's letter to Iranian Supreme Leader Ali Khamenei included a request to dissolve the Popular Mobilization Forces and other armed factions.
However, Iraqi Prime Minister Mohammed Shia al-Sudani quickly denied any direct US request in this regard, stressing that any decision to dissolve the factions is linked to the end of the international coalition's presence in Iraq.
For his part, MP Alaa Al-Haidari defended the Popular Mobilization Forces Law, considering it an internal matter aimed at honoring those who sacrificed for the nation.
The Iraqi government is adopting a strategy of appeasement in its foreign policy, attempting to maintain a balance between the United States and Iran, two of its historical allies. However, this approach faces increasing challenges, especially with mounting US pressure to end economic and military coordination with Tehran. Analysts believe that Washington also aims to "undermine the unity of the arenas," the strategy Iran uses to connect its fronts in Iraq, Syria, Lebanon, and Yemen.
Economically, Iraq is paying the price for its heavy reliance on Iran for energy. Iraqi lawmakers have called for exploring alternatives, such as Qatar and Turkey, for gas imports. However, this step requires huge investments and a long time frame, both of which may be unavailable given the current crisis. Conversely, experts believe that economic decoupling between Baghdad and Tehran could increase pressure on Iran, but it could also cause internal unrest in Iraq, especially if the electricity crisis worsens. link
: Reuters/ file
