🔹 Highlights – Iraqi Parliament Session 14 Resolution
- The Iraqi Parliament issued an 8-point resolution focused on restoring and strengthening oil exports via the Ceyhan pipeline.
- The government is required to secure alternative oil sales channels to protect the economy and ensure salary payments.
- Parliament expressed readiness to support fast-track decisions to stabilize oil revenue.
- Baghdad must centralize control over oil production, transport, and distribution nationwide.
- A long-awaited Oil and Gas Law is prioritized for approval in the upcoming government program.
- Implementation of the ASYCUDA system across all regions, including Kurdistan, to modernize customs and revenue tracking.
- Plans to rehabilitate the Kirkuk–Ceyhan pipeline route to resume exports efficiently.
- Commitment to equal salary payments in the Kurdistan Region, improving internal financial stability.
💡 Impact on the Potential Iraqi Dinar Revaluation
This resolution is highly significant for the potential revaluation of the Iraqi dinar because:
1. Oil Revenue Stability = Stronger Currency Foundation
Oil exports are Iraq’s main income source.
By restoring pipelines and ensuring continuous exports, Iraq strengthens its foreign reserves, a key requirement for any currency value adjustment.
2. Centralized Control Builds Investor Confidence
Unifying control over oil production and distribution reduces internal disputes (especially with Kurdistan), which:
- Improves economic transparency
- Builds international trust
👉 Both are critical factors before any revaluation.
3. Oil & Gas Law = Major Missing Piece
The push to finally pass the Oil and Gas Law is huge.
This law has long been considered a cornerstone reform needed to:
- Define revenue sharing
- Stabilize long-term energy policy
➡️ Its approval could remove a major barrier to currency reform.
4. Modern Financial Systems (ASYCUDA)
Implementing systems like ASYCUDA helps Iraq:
- Track imports/exports accurately
- Reduce corruption
- Increase government revenue
👉 This aligns with global financial standards—another key step toward currency strengthening.
5. Internal Stability Supports Monetary Reform
Ensuring salary payments (especially in Kurdistan) reduces political tension and economic uncertainty.
A stable internal environment is essential before any major monetary shift.
🔑 Bottom Line
This resolution signals that Iraq is actively working on:
- Economic stability
- Oil revenue optimization
- Financial system modernization
➡️ All of these are foundational steps that support the conditions needed for a potential Iraqi dinar revaluation—even if they don’t trigger it immediately.
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(WAA) PUBLISHES THE HOUSE OF REPRESENTATIVES’ DECISION DURING SESSION 14
The House of Representatives issued an 8-point resolution today, Wednesday, during session number (14) dedicated to discussing oil exports via the Ceyhan pipeline.
The media department of the House of Representatives stated in a statement received by the Iraqi News Agency (INA) that the decision of the House of Representatives during session (14) includes the following:
First: Obliging the federal government to find outlets for selling Iraqi crude oil in order to avoid the economic effects that could plague the country and affect – under the security conditions – the people’s livelihood and the salaries of employees throughout Iraq.
Second: The Iraqi Parliament is prepared to vote on any resolution that helps the government achieve what was stated in paragraph one.
Third: The federal government must impose its administration on all sources of production, transportation and distribution.
Fourth: Obliging the federal government to implement the ASYCUDA system in all governorates of Iraq, including the governorates of the Kurdistan Region.
Fifth: The upcoming government program should include the enactment of an oil and gas law within a specified period, and it should be presented to the House of Representatives for voting.
Sixth: Obliging the federal government to supply government factories and the private sector with black oil; in order to avoid an increase in stockpiles in refineries, to ensure the continuity of refinery operations, and to avoid the shortage that occurs in petroleum products.
Seventh: Obliging the federal government to rehabilitate the Iraqi line passing from Kirkuk to western Mosul – Zummar – Fishkhabur towards Ceyhan.
Eighth: Obliging the federal government to pay the salaries of employees in the Kurdistan Region in the same manner as employees in the Iraqi governorates in general.