Iraq has to be Article VIII to ascend to the WTO...Are they going to say they're Article VIII at 1300?
No they're not. Absolutely not. Theoretically/technically they could but they're not...
How do we know they're not?They'll implode. They cannot do all the things listed on the budget. Why would you go at 1300 to 1 when you could go 1 to 4?
Jeff
The budget has not been approved to date. That means it remains in an incomplete unapproved state...Yes they voted on it since last June but...
two Sundays ago Iraq's council of Ministers...did a draft amendment to the budget making it so it's no longer in an approved state. Parliament still needs to approve the budget again...The budget right now is incomplete and unapproved by parliament.
Community comment: "Iraq is a sovereign country." If Iraq was really sovereign that would mean no other country would have any power or control over them. They would have their independence and they would have possession of all their country's property.
We're still waiting on the House of representatives within the United States to vote to remove the United State's War Authorization off of Iraq...That's one level of not having sovereignty and still having restrictions on Iraq.
US Ambassador Affirms Central Role of US in Middle Eastern Policy, 3 OCT
Despite the shift in foreign policy focus under President Joe Biden’s administration, the United States continues to maintain a central role in Middle Eastern policy, as emphasized by US Ambassador to the UAE, Martina Strong. The ambassador’s recent discussion with reporter Dan Murphy highlighted the US’s commitment to its diplomatic relations and strategic interests in the region, notwithstanding the change in priorities at the White House.
Phase One: Attempted Rebalance
Unlike his predecessors, President Biden did not place a high priority on the Middle East in his overall foreign policy. Entering office in January 2021, Biden was propelled by pressing domestic issues, primarily the COVID-19 pandemic and the resultant economic crisis. Consequently, the early days of Biden’s presidency were largely focused on managing the home front, re-engaging allies and partners in Asia and Europe, responding to the rise of China, and tackling climate change.
However, the Middle East, a region fraught with political instability, religious conflicts, and economic challenges, could not be entirely sidelined. Despite the administration’s initial approach of reducing over commitment in the region, the geopolitical significance of the Middle East necessitated a continued US presence and involvement.
Ruthless Pragmatism in Middle East Policy
The Biden administration’s Middle East policy has been characterized as one of ‘ruthless pragmatism.’ This approach involved maintaining a diplomatic distance while avoiding overextension in the region. Examples of this stance can be seen in the administration’s passive approach to Syria and its limited engagement with Iraq, despite the multiple security predicaments and political turmoil in these countries.
Despite the criticism directed at the administration for doing either too much or too little, the US maintained its commitment to safeguarding its interests in the region. This included appointing special envoys for Yemen, Libya, and the Horn of Africa, reengaging Iran in international talks on its nuclear program, and expressing a general desire to deescalate tensions in the region.
Guarding Against Overextension
The Biden administration sought to guard against the deep levels of engagement that had at times overwhelmed previous administrations. This included checking the military presence in the region and refraining from over-promising and under-delivering in terms of policy commitments.
In this context, the administration focused on fostering relationships with regional partners and allies, emphasizing a commitment to Israel’s security, deterring Iranian aggression, and disrupting the Islamic State. These efforts were aimed at maintaining stability in the region while ensuring that the US’s strategic interests were upheld.
A Continued Central Role
The reaffirmation of the US’s central role in Middle Eastern policy by Ambassador Martina Strong underscores the continued significance of the region in global geopolitics. Despite the shift in foreign policy focus under the Biden administration, the US will continue to engage in the region, albeit with a more pragmatic and cautious approach. The commitment to maintaining stability, fostering diplomatic relations, and upholding strategic interests in the Middle East remains a key aspect of US foreign policy.
Kurdistan Region of Iraq to Deepen Economic Ties with Iran, Boosting Trade Exchange, 3 OCT
The Kurdistan Region of Iraq’s (KRI) Importers and Exporters Union is committed to enhancing its relationship with the Islamic Republic of Iran, particularly in the economic and trade sectors. Mustafa Sheikh Abdul Rahman, President of the Union, outlined plans to augment trade exchange, with a specific emphasis on the city of al-Sulaymaniyah.
Strengthening Trade Ties
The plans for trade expansion were discussed in a meeting with Hojjatollah Abdolmaleki, advisor to the Iranian President. The Union seeks to exploit trade exchange with Iran’s free zones to meet the needs of Kurdish investors. Both the Union and Abdolmaleki will continue to strategize and meet to discuss further plans for KRI-Iran trade expansion. The Iranian Consul in al-Sulaymaniyah confirmed that trade between the two parties has already surpassed two billion dollars.
Iran’s Influence in the Region
Amidst ongoing disputes between Erbil and Baghdad over budget and oil revenues, Iran has increased pressure on both cities to disarm and relocate Iranian Kurdish opposition parties in the Kurdistan Region. Most of these parties are in areas controlled by the Kurdistan Regional Government (KRG), except the Kurdistan Free Life Party (PJAK) who are in territories controlled by the Kurdistan Workers Party (PKK) in the Qandil mountains.
The position of the Kurdistan Region significantly weakened after Baghdad won an international arbitration case in Paris against Turkey, stopping the export of 500,000 barrels of oil per day through Turkey. This decision significantly impacted Kurdistan’s primary form of revenue generation, making it more dependent on Baghdad’s budget. Consequently, the KRG is under pressure to make concessions.
Political Dynamics in the Region
Even before the current administration of Iraqi Prime Minister Mohammed Shia al-Sudani, Iran has carried out several ballistic missile and drone attacks on Iranian Kurdish forces in the Kurdistan Region since 2018. The Kurdistan Regional Government (KRG) previously instructed the Iranian Kurdish parties to refrain from using the Kurdistan Region’s territory as a staging ground for attacks on Iran.
However, the political and economic challenges for the autonomous region have escalated, with an increasingly belligerent government in Baghdad. The KRG’s rivals, including militia groups designated as terrorists by the United States, have begun circling, sensing America’s focus is elsewhere.
Implications for the United States
The Kurdistan Regional Government (KRG) plays a crucial role in U.S. interests. Its Peshmerga forces are key partners in the fight against the Islamic State and other extremist groups. The region has historically acted as a buffer against tumult and turmoil in the rest of Iraq. However, with Washington now preoccupied with its intensifying rivalry with China and the war in Ukraine, little attention is being paid to Kurdistan. Its collapse would spell upheaval and chaos with implications stretching well beyond Iraq.
[Iraqi banking friend Aki update] Your bank opened?Yes it did...The bank was not open until now to the public...Due to the United States Treasury giving them a new license they now can run as an international bank inside of the United States of America that will have to follow all international banking laws inside of America. This is not the only one [bank] that has an opening around the world...As of this hour we're in right now, worldwide 138 of these banks have opened so far...
MarkZ
[via PDK] For those worried about paying taxes on the exchange…..This is from the US state Dept. Bilateral Investment Agreements and Taxation Treaties… Iraq does not have a Bilateral Investment Treaty (BIT) or a bilateral taxation treaty with the United States. ...it states “There are no taxes or subsidies on purchases or sales of foreign exchange.
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.a few sources are traveling back to Iraq later this week in the hopes that this is “it” for them. This is encouraging and we will see if it is accurate...
Hearing some pretty interesting stuff…including confirmations from banks...This comes from different sources... Many of the foreign currencies that we have been look for and talking about are now showing on bank screens. This came after the weekend forex updates
. We believe this is fantastic news...I had a number of bankers reach out …ones that had always questioned and doubted me…saying they think I am right and this is about to go. I am getting excited about this …even though we don’t know the exact timing. Question: Could it be this week? Absolutely...We are still looking for announcements out of Iraq on the 3rd or the 4th….most likely the 4th...
