Iraq Prepares to Resume Oil Exports through Turkish Port Amidst International Arbitration, 11 OCT

Iraq Prepares to Resume Oil Exports through Turkish Port Amidst International Arbitration

In a significant development in the global oil market, the Iraqi government has announced its readiness to resume oil exports from the Kurdistan Region and Kirkuk via the Turkish port of Ceyhan. The move comes after a hiatus induced by a ruling from the International Arbitration Court in Paris and various seismic-related issues. The pipeline, a crucial conduit for oil exports, is currently undergoing rigorous inspections and technical assessments by Turkish authorities. 

The Historical Dispute

The contentious issue of the oil pipeline between Turkey and Iraq has been simmering for nearly a decade now. The controversy was sparked off when Kurdish oil was independently exported under a 2014 agreement between Ankara and Erbil, permitting oil from Iraqi Kurdistan to be sold through Turkey’s port of Ceyhan. Traditionally, the vast majority of Iraq’s federal oil exports are shipped through the southern Gulf coast. 

In retaliation to the independent Kurdish exports, Iraq lodged an arbitration case with the International Chamber of Commerce (ICC), accusing Turkey of breaching a 1973 pipeline agreement by allowing oil exports from Iraqi Kurdistan without Iraq’s formal consent. The ICC’s decision in March was centered around a clause in the 1973 agreement’s annex, which stipulated that Turkey could only purchase oil via certain channels. 

The Current Situation

Since the ICC ruling, the transfer of crude oil from Iraq to Turkey has been put on hold, creating a cloud of uncertainty over when and how the issue would be resolved. Despite whispers of a possible visit by Turkish President Recep Tayyip Erdogan to Iraq, there have been scant indications of an imminent agreement. 

Adding to the complexities was a recent explosion near the town of Pazarcik in southeastern Turkey, which brought a temporary halt to the pipeline that transports oil from Iraq to international markets. The explosion, which triggered a significant fire, was reportedly caused by a falling electricity pole during severe weather. Kurdish rebels, known for targeting pipelines in the region in the past, have been ruled out as the cause of the incident. 

Looking Ahead

According to Turkish Energy Minister Alparslan Bayraktar, the northern oil export route through Turkey is set to restart operations soon, following a thorough check on pipeline maintenance and repairs to damages caused by floods. However, oil flows are not expected to recommence before October, resulting in an estimated loss of approximately $4 billion in exports for the Kurdistan Regional Government (KRG).

Both Iraq and Turkey are actively working to safeguard their interests, both legally and diplomatically, as the situation continues to evolve. Ankara is pressuring Baghdad to retract a second arbitration case covering the period from 2018 onwards and negotiate a reduced payment. Simultaneously, Turkey is advocating for Erbil and Baghdad to arrive at a common stance and negotiate the continuation of the pipeline agreement, which is due to expire in 2026.

https://bnn.network/world/us/iraq-prepares-to-resume-oil-exports-through-turkish-port-amidst-international-arbitration/

Putin Criticizes U.S. Policy in Middle East as a Failure, 11 OCT

 Putin Criticizes U.S. Policy in Middle East as a Failure, 11 OCT

In a recent interview with the US 24 channel, Russian President Vladimir Putin called out United States’ policy in the Middle East as a failure. This assertion has stirred global discourse about the effectiveness of U.S. interventions in the region.

Putin’s Critique of U.S. Policies

During a meeting with Iraqi Prime Minister Mohammed Shia Al-Sudani, Putin criticized the U.S. policy in the Middle East. This critique was primarily based on the recent escalation of violence between Israel and the Palestinians, which Putin described as a “vivid example” of the failure of U.S. policy in the region.

He accused the U.S. of trying to monopolize the peace process and failing to consider the interests of the Palestinians, particularly their need for an independent state. He stated that the U.S. has moved away from previous international instruments for resolving the Middle East conflict and monopolized the settlement process. Putin’s comments have highlighted the intensifying global scrutiny of U.S. foreign policy, which critics argue often lacks a comprehensive understanding of regional complexities.

Escalating Violence and Calls for Ceasefire

The ongoing conflict in the Middle East has resulted in a significant number of civilian casualties. Both Putin and Turkish President Tayyip Erdogan have expressed concern about the escalating violence and called for an immediate ceasefire. These calls come amidst growing international pressure for a cessation of violence and a return to diplomatic negotiations.

Russia’s Role in the Peace Process

Although Putin did not mention Russia’s own role in the peace process during the interview, the Kremlin has expressed its intention to play a part in finding a solution to the conflict. This development may indicate Russia’s increasing interest in influencing the geopolitical dynamics of the Middle East and potentially challenge U.S. dominance in the region.

The Future of U.S. Policy in the Middle East

When asked if he believes the U.S. policy will change, Putin responded that he doesn’t know and suggested asking American policymakers directly. This response underscores the uncertainties surrounding the future of U.S. policy in the Middle East and its potential implications for regional stability.

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 11 OCT

 Frank26 

 [Iraq boots-on-the-ground report] 

 FIREFLY:  Sudani said the banks that did not have our money that we deposited have basically been using that money on the black market to make money with a high exchange rate and this will stop. 

 They better come up with the month to pay our deposited money back or actions will be taken by the CBI toward these banks.  He spoke to high end corruption and how this too will end. 

 FRANK:  I knew Sudani had everything under control but this is a little surprising to me.  It is very good news. 

 FIREFLY:  Dollarization is over in Iraq TV says. 

 FRANK:  Told you so.  Now listen to Alaq and Sudani and do what they tell you.

Kurdistan’s Deputy PM Calls for Revision of Iraq’s Federal System for Economic and Political Stability,11 OCT

 Kurdistan’s Deputy PM Calls for Revision of Iraq’s Federal System for Economic and Political Stability,11 OCT

Deputy Prime Minister of Kurdistan, Qubad Talabani, has expressed grave concerns over the functioning of the federal system in Iraq. He pointed out the striking disparity between the form and the substance of the system, indicating that while it appears democratic in its structure, the implementation often veers from the principles of federalism. He conveyed this during a panel discussion on ‘Federalism and the Future of Iraq’.

Overstepping Boundaries

Talabani acknowledged the possibility of both the regional and federal governments overstepping their powers, which could potentially disrupt the balance of authority. While emphasizing the need for a realistic Kurdistan Regional Constitution, he also stressed on the significance of having a functional regional administration to ensure a smooth functioning of the system. The Deputy Prime Minister, in his address, highlighted the importance of understanding and respecting the boundaries of power to avoid conflicts.

Contrasting Regional Interests

Another critical aspect that Talabani touched upon was the contrasting regional interests within the framework of the federal system. Due to the diverse sociopolitical and economic landscapes across the regions, the interests often clash, leading to disagreements and conflicts. He emphasized that these differences need to be addressed through dialogue and consensus to ensure stability and progress.

Addressing the Constitutional Dichotomy

This statement from Talabani follows the Kurdistan Regional Government’s President, Nechirvan Barzani, who identified the constitutional dichotomy between Erbil and Baghdad. He stressed the importance of addressing this core problem to ensure political and economic stability in Iraq. The Kurdistan leaders’ call for a revision of the federal system is an attempt to balance power dynamics, address regional disparities, and promote economic development in the region.

https://bnn.network/world/iraq/kurdistans-deputy-pm-calls-for-revision-of-iraqs-federal-system-for-economic-and-political-stability/

RV Imminent Now or 2024?💣Dollarization is Over!🤔Iraq Dinar RV Updates | ...

Coffee with MarkZ 10/11/2023

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ Wednesday  Update- 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

Mod:  HI EVERYONE!! HOPE YOUR DAY IS AN EXCELLENT ONE!!

Member: Battling stress from all the can kicking. We all have learned patience from this journey.

Member: Anticipation fatigue is real…..and we have it. 

Member: Please give us some good news Matkz

MZ:Lets start with Rumors first then what we are hearing out of Iraq.

MZ: on the bond side…..nobody has received dollars yet. Updates from Zurich is they have great expectations …been put on hold since yesterday but were told things are still moving. They still expect it imminently…but no specific time was given. 

MZ: My contacts as of yesterday evening…they were expecting their payments yesterday afternoon…..on bonds…..they have been told this for the last 4-5 days….then the middle east/Israel conflict popped up. 

Member:  Put on hold since last month. Not sure how these bond folks can be in place for soooo long..........lol

Member: would not surprise me if this RV happens within the next 24 hours our contact news is through the roof …banks ect. have placed them on alert.

MZ: What I am hearing on Dubai funds is although they are not released…they are positioned and are ready….so for me it feels like we are in a holding pattern. Is it a long holding pattern of a short one?  Does it have to do with the conflict overseas or not?   I would think yes the conflict is a temporary speed bump but do not see it being derailed. 

MZ: This is a big one and has got to have the US scrambling right now. “Al-Sudani confirms Iraq’s readiness to join the BRICS group”   Why is this important?  Iraq is signaling to the US they have a “PLAN B” that if they don’t let this go they can go without you. The US is holding billions of Iraqi dollars…..and at some point they may just write those billions off  so they can have freedom. I believe the Us is now on a time schedule…they only have so much time left before Iraq joins the BRICS nations and no longer needs the US. To me this is a huge story. 

Member: Chaz at PPN says it is the Us that is holding the RV back. 

Member:  Maybe they are also just trying to catch the last of the dollar smugglers in Iraq before they flip the switch?

Member: Wouldn’t all the problems with smuggling dollars in Iraq just go away if they would change the rate? Who would want to smuggle dollars if they aren’t worth anything?

MZ: That’s a great observation……and BINGO- that would nip it in the bud. 

Member: I know it does point the Iraqi Parliament is under the gun and under extreme pressure to change value. how long do you think they can or will hold out?

Member: Was the attack on Israel to stop the RV???

Member: Tony at TNT said yes Israel conflict postponed RV.

MZ: Just like 9-11 was . They keep saying this is Israel’s 9-11.

Member: Seems like someone getting a papercut would be an excuse to "hold off" now-a-days....

Member: They needed a big distraction event. Now they have it.

Member: I thought we didn’t need to wait for Iraq anymore?

MZ: We still need Iraq to RV…Its all a part of the engine of the global reset. 

Member:  Mark have you heard who the email will be coming from?

Member: Watch Recaps, Chronicles, Mark, Bruce, TNT and others….you won’t miss it. 

Member:  I've lost the taste for hopium now. It tastes good going down, but it's not very filling. Empty calories.

Member: The golden trigger is on the golden gun..James Bond needs to pull it

Member: (Sabickford)  Did you know “Dammit I’m mad” spelled backwards is “Dammit I’m mad?” 

MZ: That is true….

Member:  These people in charge are sitting pretty while others are trying just to get by! Seems that they don’t care enough about We The People “

Member:  Where are the Chinese Elders and what are they doing to make this event happen?

Member: People, EVERYTHING has to collapse, so the Pheonix can rise from the ashes! .

Member: Just think about when we are done and things become awesome again

Member:  I’m ready for this movie to end and get to the credits. The credit roll will be the best part of this particular movie!

Member: What is your gut saying right now Mark?

MZ: My gut is screaming –right now!!  I’m looking at all these diversions , and may gut is still screaming we are right on top of this thing….and that we are going at any moment…maybe even this week. 

Member: Thank Mark for all your patience in answering all the questions……and keeping us calm in all this craziness. 

“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

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

CENTRAL BANK GOVERNOR: THE BANK IS PUTTING THE FINAL TOUCHES TO ITS LENDING STRATEGY, 11 OCT

 CENTRAL BANK GOVERNOR: THE BANK IS PUTTING THE FINAL TOUCHES TO ITS LENDING STRATEGY

Today, Monday, October 9, 2023, Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, chaired the thirtieth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Industry, Trade, Labor, and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, and the Chairman of the National Investment Authority. Advisor to the Prime Minister for Legal Affairs.

The Council discussed the items on its agenda and took appropriate decisions regarding them. The Council hosted the Undersecretary of the Ministry of Agriculture and the Prime Minister’s Advisor, two members of the special committee to study the methods of support provided to the agricultural sector and the possibility of their sustainability in light of the water and financial situation, and to benefit from global experiences and modern methods of irrigation, agricultural mechanization, and support for strategic agricultural crops.

The Council also discussed the recommendations of the committee formed to support private banks in order to advance the work of these banks to be an important part of the Iraqi economy.

The Governor of the Central Bank indicated that the bank is putting the final touches to the lending strategy, and is continuing to implement decisions related to electronic payment.

Given the importance of the wastewater treatment unit project to preserve the environment, reduce pollution, and contribute to increasing the life of production machines and protecting them from damage, the Council decided to change the method of implementing this project to contribute to accelerating its completion.

(Why was this meeting so important? As we all should know if they are going to stop the currency auctions next year, then the banks will need alternative sources of generating revenues (banking products, loans, investments, etc). This meeting was an update and a kick start for this effort. Yes, the change from the dollar is going to be VERY painful but Iraq has to do it or we will not be exchanging our dinar. Get it? )

DINAR IRAQ & DONG VIETNAM