Iraqi Council of Ministers Takes Significant Decisions Impacting Diverse Sectors, 4 OCT

Iraqi Council of Ministers Takes Significant Decisions Impacting Diverse Sectors, 4 OCT

On Wednesday, the Iraqi Council of Ministers, led by Prime Minister Mohammed Shia Al Sudani, took several impactful decisions across various sectors in its 40th Regular Session. The council addressed several critical national issues and outlined the government’s priorities.

Transparency and Media Responsibility

In the session, the council voted to pass a bill granting access to information following the Prime Minister’s emphasis on transparent governance and media responsibility. This legislation, previously reviewed by the State Council, will now proceed for consideration in the Council of Representatives, adhering to constitutional mandates.

Recognizing Yazidi Cultural Significance

Among the decisions made, the Council of Ministers declared Yazidi Eid (Jama) as an official holiday in Iraq, to be observed from 6th to 14th October annually. This decision recognizes the cultural and religious significance of the Yazidi community.

Boosting the Agricultural and Industrial Sectors

The council approved an increase in the capital of the Agricultural Cooperative Bank by 29,476,500,000 dinars, as sanctioned by the Committee for Determining Corporate Capital within the Ministry of Finance. This decision aims to support farmers and agricultural initiatives. Similarly, steps were taken for the Industrial Bank with the submission of a new establishment statement for the bank to the Ministry of Trade for legal measures regarding capital increase. An increase of 529,476,500,000 dinars was approved.

Reforms in Financial and Accounting Practices

The Council of Ministers also prioritized financial and accounting reform. All spending units are now required to submit funding requests within the operational investment budget directly to the Ministry of Finance’s Accounting Department. The respective ministers or governors are accountable for fulfilling legal obligations outlined in the Federal Financial Management Law No. 6 of 2019 and other relevant legislation.

Changes in Oil Export and Budget Allocations

The Iraqi Oil Marketing Company (SOMO) received approval for a direct contract with two affiliated companies, the Ministry of Oil’s oil tankers, and the Ministry of Transportation’s maritime transport company. This contract allocates 70% of exported oil products for transport via the oil tanker company and the remaining 30% through the maritime transport company. Additionally, the Council decided on various financial allocations, including transferring funds from the Border Ports Authority budget to support the network customs clearance connection program and compensating fish breeders by allocating funds from the Ministry of Finance to the Ministry of Agriculture.

Other Significant Decisions

The council also approved the national framework program document for technical cooperation for the period 2024-2029 and the exemption of contract 22 IRAQ MOD POLY 2022 for the supply of CH-5 drones and their fuel from audit and review procedures. Furthermore, a joint-stock company has been established to support investment in accordance with Cabinet Resolution 245 of 2019. 

Turkey and Iraq: A Potential Strengthening of Ties in Defense and Security, 4 OCT

 Turkey and Iraq: A Potential Strengthening of Ties in Defense and Security, 4 OCT

High-Level Meeting in Ankara

Iraq’s Defence Minister, Thabet al-Abbasi, will make an official visit to Turkey this week to meet his Turkish counterpart, Yasar Guler, according to Turkish media reports. This visit comes in the wake of heightened security concerns, following a bomb attack in Ankara, the capital of Turkey. The outlawed Kurdistan Workers Party (PKK), which Turkey and Iraq both recognize as a terrorist group, claimed responsibility for the attack. The Turkish authorities responded with air strikes on PKK targets in northern Iraq.

Significance of the Visit

The visit by Iraq’s Defence Minister is seen as a crucial step towards addressing the security concerns and bilateral defense issues between the two nations. Both countries are seeking to enhance their cooperation in the defense industry, which could potentially lead to the strengthening of ties and the initiation of mutual projects. However, the talks are not without challenges. The recent Turkish air strikes have been denounced by Iraq, with President Abdul Latif Rashid expressing the hope to reach an agreement with Ankara to resolve the situation.

Turkey’s Foreign Relations

Meanwhile, Turkey’s foreign relations have been under scrutiny recently. U.S. Secretary of State Antony Blinken will host Turkish Foreign Minister Mevlut Cavusoglu in Washington this week. The potential sale of F-16 fighter jets and Ankara’s refusal to support NATO membership for Sweden and Finland will be among the topics of discussion. Despite some tensions over Turkey’s acquisition of Russian missile defense systems and its stance on the Syrian Kurdish militia, the United States has praised Turkey for some of its actions during the Ukraine war, including mediating grain corridor talks.

Threats and Counteraction

Turkey’s Foreign Minister Hakan Fidan has warned that Kurdish militants behind the recent suicide bombing in Ankara will face robust retaliation against their positions in Syria and Iraq. Following the attack, Turkish warplanes have already conducted two airstrikes against suspected Kurdish militant sites in northern Iraq. In addition, dozens of people suspected of links to the PKK have been detained in a series of raids across Turkey. Fidan stated that all facilities belonging to the PKK or its affiliated Kurdish militia group in Syria, known as People’s Defense Units (YPG), are now legitimate targets of Turkish forces.

Evening News with MarkZ 10/04/2023

Wednesday Evening News with MarkZ 

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member:  Hello everyone! It’s good being here tonight!

Member: I thought Iraq was supposed to join the WTO and come out with a revalued dinar today?

NZ: Well it has not come out yet ….I have been looking for news on Iraqs ascension….but, it is strangely quiet. 

MZ: Lots of chatter in the bond folks suddenly …which is very encouraging. Many are expecting news tomorrow and on Saturday. Many are expecting funds to flow on Friday and Saturday. 

MZ: Many are at least hoping to know what to expect by tomorrow. Most of the bond people are expecting funds over the weekend…

MZ: Some banking sources Think redemptions may start on Monday…..they think this …but do not know for sure. 

MZ: Focus on the fact that we are seeing solid progress…..and that things are close. 

MZ: To be honest I am hoping for it to happen this weekend. 

MZ: We are hearing some conflicting opinions that we need the house of representatives  to be back with a new speaker of the house  to remove the remaining sanctions on Iraq. It is my understanding the bill is already at the senate and it could happen at any time. 

MZ: Insiders on the beltway believe they will have a new speaker sat by middle of next week. Just in case they are right .

Member: TNT thinks it will go overnight tonight……

Member: We all hope they are right . 

Member:  Does anyone know if this RV is really  real ? I am worried that this is never going to happen!  Always new excuses…..

MZ: It is going to happen. Maybe the reason we keep hearing excuses is maybe it wasn’t time and people are trying to come up with reasons why???? This is a huge event…it’s a struggle…it’s a war and we are in the trenches. I think we are winning. 

Mod:  IT IS COMING, THEN WE WILL GO INTO SHOCK BECAUSE WE WON'T BELIEVE IT HAPPENED!!

Member: Its logical that it would be real……we are all praying it is real. 

Member: Anticipation fatigue is real and its exhausting. 

Member: I sure hope it happens before the snow falls. 

Member: Thanks for your time Mark…..see everyone in the morning 

Mod:  NO WHISKEY AND WISDOM TONIGHT! JOINS US THURSDAY NIGHT AT 8:00 PM EST!

“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

"RV UPDATE" BY MILITIAMAN & ANGEL1, 4 OCT

 Militia Man  

 Article quote: "The union submitted an invitation to the organization to attend the introductory symposium on Iraq's entry into the World Trade Organization which will be held October 4, 2023..."

   You have World Trade Organization going to have a meeting...We're going to have to wait and see how that turns out...Ascension is hopefully on the table...

 Did they say they were Sovereign?

  According to the Prime Minister at the U.N., yes they did say they were sovereign ...What you can deduce from the bigger picture...Iraq is going international.  You can't deny it.   

They're getting ready to do something and we can see that...We're in a really good spot...

 There are a lot of projects that are very expensive and they need to have an investment budget to go along with that.

  Why has it been delayed?  

Probably because there's something they're not quite yet ready to expose or they're just about ready to expose.  

They're going to have to have an International currency...exchange rate and the country needs to have that final step to sovereignty.

 Is the country sovereign?

 According to Al-Sudani who is the prime minister - yes.  According to the Gazette, the 2023, 2024, 2025 budget has been published and it's enforced.  However they haven't actually finished implement it or spending anything from it...The pressure is on to get this budget implemented now...

Angel1

  Here's the the thing, a country doesn't claim its independence hoping that one day they become independent.  Nope, they claim their independence when they are independent.

  They are no longer waiting for their independence.  I'm talking about banking reform, economic reform, military, geopolitical, every level.  They're not waiting to be independent, they are waiting for the day to celebrate their independence.  Independence is upon them now.

  It is who they are.  That dinar is about to be independent and travel the world like a free little bird and baby I cannot wait to celebrate!  It has been too long.

HCL Payments Continues?💣Wow! Countdown Has Begun?🤔Iraq Dinar RV Updates ...

Russia commits support to Iraq's $17 Billion Development Road Project, 4 OCT

 Russia commits support to Iraq's $17 Billion Development Road Project,  4 OCT

Shafaq News/ The Russian President Advisor Igor Levitin conveyed Moscow's staunch commitment to participate in Iraq's $17 billion Development Road Project. Levitin's assurance came during a high-level meeting in Baghdad with Prime Minister Muhammad Shia Al-Sudani and Minister of Transport Razzaq Muhaibas Al-Saadawi.

A statement from the Iraqi Prime Minister's Office outlined the discussions, emphasizing the "deep historical ties between Iraq and Russia." 

Prime Minister Al-Sudani highlighted Iraq's focus on diversifying its economy away from oil dependency, underlining the strategic significance of the Development Road Project in conjunction with the Al-Faw Port Project. 

"This initiative is pivotal to Iraq's economic sustainability, fostering regional integration and connecting to global economic corridors." The statement said.

Levitin expressed Russia's eagerness to strengthen ties with Iraq across various sectors. 

Minister of Transport Al-Saadawi emphasized the economic viability of the Development Road Project. He underscored Iraq's strategic location, positioning it as a global investment hub. Al-Saadawi assured Iraq's commitment to creating economic synergy among regional nations.

Levitin reciprocated Iraq's enthusiasm, expressing Russia's readiness to collaborate extensively, particularly in the transportation sector. 

Russia's involvement in the Development Road Project is part of a broader initiative connecting the Al-Faw Grand Port on Iraq's southern coast to the Turkish border. This ambitious endeavor aims to facilitate faster transit between Asia and Europe, potentially rivaling the Suez Canal. High-speed trains, operating at speeds of up to 300 kilometers per hour, are envisioned to transport both goods and passengers. Plans also include extending rail and road networks to local industrial and energy centers and integrating oil and gas pipelines.

Talks ongoing to restart iraq oil exports via turkish pipeline, 4 OCT

 Talks ongoing to restart iraq oil exports via turkish pipeline, 4 OCT

Shafaq News / Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters, one day after Turkey said operations would start again this week following a near six-month stoppage.

“We have further meetings soon and things will be more clear on how serious is Turkey to show some flexibility,” the official told Reuters on condition of anonymity due to the sensitivity of the topic.

Turkey’s Energy Minister Alparslan Bayraktar had said on Monday that Turkey would resume operating the pipeline this week while speaking on a panel at the ADIPEC energy conference in the Emirati capital Abu Dhabi.

Iraq has not made an official comment on the matter.

Ankara halted flows on Iraq’s northern oil export route about six months ago after an arbitration ruling by the International Chamber of Commerce (ICC) ordered Ankara to pay Baghdad damages for unauthorised exports by the Kurdistan Regional Government (KRG) between 2014 and 2018.

Turkey later started maintenance work on the pipeline that contributes about 0.5% of global crude supply. Baghdad and Ankara agreed to wait until a maintenance assessment on the pipeline, which goes through a seismic zone, was complete to restart flows while still engaging in a legal battle on arbitration awards.

“We’re still in the middle of ongoing talks and predicting when oil flow could be resumed depends on how positive the results will be around sticking issues,” the official said, adding: “Also if Turkey is willing to hold off on its demands and allow oil exports to restart without setting preconditions.”

Sources have told Reuters that Turkish President Tayyip Erdogan is likely to visit Baghdad in October to resolve the issue.

In April, Iraq petitioned a U.S. federal court to enforce the ICC arbitration award.

Ankara is seeking a halt to this U.S. litigation and a lack of progress on resolving this issue was one of the reasons behind the postponement of a planned August visit by Erdogan, sources have said.

(Reuters)