On the Precipice: US Fears Israel-Hamas Conflict Could Ignite Wider War, 15 OCT

 On the Precipice: US Fears Israel-Hamas Conflict Could Ignite Wider War

In the hushed chambers of the United States’ highest echelons of power, fear is taking root. A specter of a broader conflict hangs heavy over the Middle East, as the intensifying conflict between Israel and Hamas threatens to pull in other regional actors, potentially sparking a conflagration that could engulf the entire region.

The Unfolding Crisis

Israel, a small yet powerful nation, is readying its troops for a ground assault on Gaza, escalating its response to Hamas attacks. This move follows a punishing bombing campaign, a retaliation for a barrage of missiles launched by Hamas that claimed countless Israeli lives. The US, Israel’s staunch ally, watches warily, anxious about the potential for this localized conflict to spiral out of control.

Simultaneously, the US is working tirelessly to ensure that Palestinians trapped in the besieged Gaza Strip aren’t left without access to basic necessities amidst the escalating violence. There’s a palpable urgency to these efforts, an acknowledgment of the humanitarian crisis unfolding before the world’s eyes.

The International Response

As the situation deteriorates, the US is preparing to bolster its allies with a significant new weapons package. Estimated to be worth significantly more than $2 billion, this package is meant to strengthen Israel and Ukraine, offering them support in their respective conflicts. However, these preparations are accompanied by a fervent dialogue about how to best protect civilians caught in the crossfire and evacuate American citizens from the danger zone.

The message from the US is clear: while it remains committed to Israel’s security, it is equally committed to preventing civilian casualties and working towards a peaceful resolution of the conflict. The Biden Administration is balancing its support for Israel with a deep-seated concern for the preservation of human lives and the cessation of hostilities.

The Gathering Storm

Yet, beneath the surface, a more ominous reality is forming. There’s a dark undercurrent to the crisis, a fear that Hezbollah or Iran might seize this moment of turmoil to further their agendas. Iran’s Foreign Minister Hossein Amir Abdollahian has warned of potential escalation if the attacks on Gaza aren’t halted, a statement that has sent ripples of concern through the international community.

Already, clashes between Hezbollah and the Israeli army along the Lebanon border have intensified, causing casualties on both sides. To deter hostile actions and prevent the war from widening, the US is deploying a second aircraft carrier to the eastern Mediterranean, while sending Special Operations forces to Israel to assist with potential hostage rescue operations.

The Fragile Balance

In this volatile scenario, the US is reinforcing its military presence in the region, closely monitoring Hezbollah forces in Lebanon, and Iran-backed militias in Iraq and Syria. The fear of an Israeli invasion of Gaza spiraling into a broader conflict involving Iran and other proxy groups is ever-present.

Yet, amid this chaos, the US remains committed to ensuring the safety of civilians and working towards a peaceful resolution. It’s a treacherous tightrope walk, balancing the protection of allies, the prevention of a larger conflict, and the sanctity of human life. As the world watches with bated breath, only time will tell if this delicate balance can be maintained.

https://bnn.network/world/israel/on-the-precipice-us-fears-israel-hamas-conflict-could-ignite-wider-war/

After The Dollar Jumped, Experts Explain The Reasons And Solutions That May Reduce It To 1,300 Dinars, 15 OCT

 After The Dollar Jumped, Experts Explain The Reasons And Solutions That May Reduce It To 1,300 Dinars

Posted On2023-10-15 By Sotaliraq    Ali Al-Hamdani  Experts in the Iraqi economy expect that the crisis of the rise in the exchange rate of the US dollar against the Iraqi dinar will continue for several reasons, most notably commercial dealings with sanctioned countries, the evasion of taxes and customs by speculators and small traders, and the obstacles surrounding the relationship between banks and customers, including merchants, importers, and others, calling for a package to be taken. Measures, including those that may contribute to reducing the exchange rate to 1,300 dinars.

On Thursday, the dollar exchange rates on the Al-Kifah and Al-Harithiya stock exchanges recorded 160,400 dinars for 100 dollars, while in exchange shops in the local markets in Baghdad, the selling price reached 161,500 Iraqi dinars, while the purchasing price reached 159,500 dinars for every 100 dollars.

In Erbil, the selling price in banking shops was 160,400 dinars for 100 dollars, and the purchase price was 160,300 dinars for 100 dollars.

Causes of the dollar crisis

Researcher and writer, Halim Salman, attributes the dollar crisis and the exchange rate difference to “international restrictions imposed on trade with some neighboring countries, which causes pressure on the parallel market, and other reasons related to speculators and small merchants who escape taxes, customs, etc.”

Salman adds to (Al Mada), “In addition to the obstacles surrounding the relationship between banks and customers, merchants and importers, which result in difficulties in opening accounts, forcing some of them to go to the parallel market to obtain dollars for ease.”

He continues, “In addition to the behavior of the Iraqi individual to keep the dollar due to weak confidence in his national currency, this is the result of weak confidence in the banking system, and the problems of the blockade and conflicts that arose previously, which cast a shadow on the citizen’s confidence in his national currency.”

Solutions to the dollar problem

For his part, the financial and economic expert, Mahmoud Dagher, rules out solving the dollar problem “except by controlling the borders, completing the unified customs wall for all of Iraq, and ending the existence of two customs and two border crossings, one of which belongs to Baghdad and the other to the region.”

Dagher confirms to (Al Mada), “After the platform and compliance with the rules of international transfer, the dollar crisis cannot be ended as long as there are sanctioned entities that the country deals with, which requires stopping trade with these entities or at least establishing a customs wall with them, otherwise the crisis will continue.”

In turn, the economic researcher, Dr. Ali Daadush, explains that “the solution to prevent the crisis from escalating is through concerted efforts between the Central Bank and the government, and by meeting the former with his Iranian counterpart and determining dealing in the two countries’ currencies (the dinar and the toman), and setting a fixed exchange rate for commercial transactions that amount to approximately 11 billion dollars annually.” That is, about (14.5) trillion Iraqi dinars.

Speaking to Al Mada, Daadoush stressed the importance of “controlling border crossings and placing a customs wall linked electronically to the government treasury, accompanied by the operation of factories and laboratories to produce local goods and services in accordance with international market standards.” For his part, economic researcher, Abdul Salam Hassan Hussein, says, “The dollar continues to rise because it has become a trade, not to mention it is smuggled openly to neighboring countries, and the events that took place in Palestine will also affect it.”

Hussein believes, while speaking to (Al Mada), that “the central bank is unable to address this problem, and its danger lies in the fact that money exchange offices are buying large amounts of dollars.” At the conclusion of his speech, he confirms that “the exchange rate can be reduced to 130 thousand dinars through a program to fight the dollar,” indicating that “the program includes a secret numbering to control the pumping of money and the distribution of the dollar,” expressing his readiness to “present it to the Prime Minister for fear of revealing it and he will benefit from it.” The powerful and the corrupt,” he said. LINK

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Dawn of a New Era: Iraq’s Stride Towards Energy Independence, 15 OCT

 Dawn of a New Era: Iraq’s Stride Towards Energy Independence, 15 OCT

As the sun set over the Tigris River, painting the horizon with hues of gold and orange, a new dawn was quietly breaking in Iraq’s energy sector. In an unassuming ceremony in February, the ink dried on three energy contracts between Iraq and UAE-based Crescent Petroleum. The contracts, a harbinger of change, were set to develop three oil and gas fields in the ancient lands of Basra and Diyala.

Breaking Free from the Chains of Dependence

These 20-year contracts are not just a promise of economic progress but are also a beacon of hope. They are expected to start churning out 400 million standard cubic feet of natural gas daily within 18 months, breathing new life into Iraq’s energy landscape. This development holds great significance, as it will help Iraq reduce its reliance on Iranian gas imports, a dependence that has long been a thorn in its side.

A Step towards Self-Sufficiency

“Our operations will stop gas flaring and use the processed gas to generate electricity,” said Hayan Abdel-Ghani, Iraq’s Oil Minister, his eyes gleaming with anticipation. For a country that has been heavily dependent on Iranian gas imports to power its grid, this is no small feat. It is a bold stride towards self-sufficiency, a step away from the shackles of dependence. Moreover, this development aligns with the United States’ urging Iraq to reduce its reliance on Iran.

Transforming the Energy Landscape

The joint venture between Iraq and Crescent Petroleum is more than just a business deal. It signifies a transformative phase in the country’s energy landscape, a shift in its geopolitical alliances, and a stride towards energy independence. The partnership heralds a new era where Iraq is not just a playground for power politics but a key player in the global energy arena.

Charting a New Course

As Iraq charts a new course, there will undoubtedly be challenges and hurdles to overcome. However, the promise of a brighter, more independent future provides the impetus to persevere. The country stands at a critical juncture, ready to harness its own resources and dictate its own destiny. With these contracts, Iraq is not just tapping into its oil and gas fields; it’s tapping into its potential, signaling to the world that it’s ready to take its place on the world stage.

https://bnn.network/world/iraq/dawn-of-a-new-era-iraqs-stride-towards-energy-independence/

"RV UPDATE" BY MILITIAMAN, 15 OCT

 Militia Man 

  Article:  "China hosts representatives from 130 countries at the New Silk Roads Forum" 

 This Belt Road project is linking right through Iraq.  Al-Sudani just met with Putin on his Development Road Project as well... The 10th anniversary of this coinciding with electronic systems hook ups in Iraq are looking to be timed   accordingly...I like it.

 Sudani has been knocking it out of the park.. .Turkey is going to be massive...building road, industrial cities, industrial parks. 

 Think about all the infrastructure that has to go into that.  Water, sewer, roads, electrical...All kinds of things happening behind the scenes.  

 Article: "Parliamentary Energy: Work is continuing towards passing the oil and gas law"  

  This is going to be a big deal and it needs the same thing everyone else needs and that is the international acceptable currency exchange rate. The way they are talking on this gives me the impression they are ready for the rate, so that they can discus, read and vote on it.  Who wouldn't vote for it when it is for all Iraqi people. I am sure the priority is going to be toward a yes vote...A unanimous one at that!

Al-Sudani leads banking reform discussion, 15 OCT

 Al-Sudani leads banking reform discussion, 15 OCT

Shafaq News / Iraqi Prime Minister, Mohammad Shia Al-Sudani, presided over a meeting on Sunday to deliberate on banking reform measures. He directed the simplification of all banking procedures and called for a proposed list of facilitations to be prepared within a week.

.In a statement issued by Al-Sudani's media office, it was stated that, "As part of his follow-up on the implementation plan for financial and administrative reforms in both the financial and banking sectors, Prime Minister Mohammad Shiaa Al-Sudani chaired a meeting this evening.

The meeting was attended by the Central Bank Governor and directors of government banks. During the meeting, discussions were held on the procedures and mechanisms adopted to achieve banking reform, which constitutes one of the fundamental steps in the financial and economic reform embraced by the government in its executive agenda."

Al-Sudani emphasized, "Financial reform is not merely a slogan but a series of concepts and measures that the government is determined to implement without hesitation. It will confront all challenges and obstacles that hinder the implementation of well-thought-out reform plans."

According to the statement, the Prime Minister instructed the simplification of all banking procedures and the preparation of a proposed list of facilitations and streamlined procedures to be submitted within a week. Additionally, a summary detailing the obstacles hindering the banking reform process, along with effective and executable solutions, is to be presenteD.

https://shafaq.com/en/Iraq-News/Al-Sudani-leads-banking-reform-discussion

iraqi Dinar Latest Rate update today 2023 / iraqi dinar Revaluation / ir...