Iraq is moving to support its assets with the Chinese yuan to finance imports amounting to $12 billion annually, 11 NOV

 Iraq is moving to support its assets with the Chinese yuan to finance imports amounting to $12 billion annually

Opening bank accounts in Indian rupees for Iraqi banks to finance trade worth $3 billion

A government source in Iraq said that officials from the Central Bank of Iraq held “intensive meetings” with American officials in Abu Dhabi in recent days to discuss external transfers to cover imports.

The source added that Iraq has strengthened its assets denominated in the yuan through the Singapore Development Bank to finance Iraqi trade and imports with China by about 12 billion dollars annually.

The source stated that the oil-exporting country also moved to strengthen its assets in UAE dirhams and is negotiating to increase its assets denominated in euros to finance trade with the European Union, according to what was reported by Iraqi news agency “Inaa.”

The source said that negotiations with the American side reached a set of decisions and mechanisms that contribute to facilitating procedures for foreign transfers related to imports through the foreign currency sales window.

He added, "It was agreed to enhance the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and transfers via JP Morgan Bank," noting that "the problems related to the rejected transfers were resolved, and it was agreed that the rejection of transfers should be based on strong reasons."

He continued: “There were also other meetings that brought together one of the Emirati banks, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks,” indicating that “things are going well in this regard, as all technical details related to the issue have been resolved, and it is expected to begin.” The mechanism for enhancing balances in UAE dirhams during the next few days.”

He stressed that “there are serious negotiations that have reached their final stages to enhance the balances of some Iraqi banks in euros with UBAF Bank to finance trade with the European Union,” noting “an increase in the number of banks whose balances are being enhanced.” In Chinese yuan through the Singapore Development Bank.”

The source also reported that bank accounts had begun to be opened in the Indian rupee for a number of Iraqi banks at the same correspondent, the Singapore Development Bank (New Delhi branch), and operations to enhance the balance of two Iraqi banks had actually been completed as a first stage, and it is expected that this mechanism will contribute In financing Iraq's imports from India, especially medicines and foodstuffs, which are estimated at about 3 billion dollars  link

(11/11) Critical RV Update

Will the plan to bring thousands of Gaza families to Iraqi Kurdistan become a reality?, 11 NOV

Will the plan to bring thousands of Gaza families to Iraqi Kurdistan become a reality?

As the echoes of the Hamas-Israel conflict reverberate, an unexpected proposition emerges – the relocation of Gaza’s refugees to Kurdistan. In a clandestine meeting between Kurdistan Regional Government President Nechirvan Barzani and French President Emmanuel Macron, the intricate web of international diplomacy unraveled. Amid geopolitical complexities, the question looms: Will the controversial plan to bring thousands of Gaza families to Kurdistan become a reality?

The French Connection:

French media buzzes with speculations about Nechirvan Barzani’s visit to Paris. The focus, it seems, was not the Eiffel Tower but the war raging between Hamas and Palestine. Unraveling the diplomatic intrigue, reports suggest that France, in tandem with the Kurdistan Regional Government, delved into discussions about the unfolding Gaza crisis. As Macron and Barzani huddled behind closed doors, one wonders – why is France entwined in the fate of Gaza refugees?

Unveiling a Controversial Plan:

Whispers of Israel’s grand plan to relocate Gaza residents to Iraq have begun circulating. A senior source reveals to Kurdish 7Roj, that diplomatic wheels are in motion, aiming to bring thousands of displaced families to the haven of Kurdistan. Reports claim that over 5,000 Gaza refugees have already found solace in areas controlled by the KRG. Amidst the sensitive negotiations, the real question emerges: Can such a bold move materialize, and what consequences might it unleash upon the region?

Diplomatic Shadows and Unspoken Agendas:

Behind the diplomatic curtains, the Macron-Barzani talks assume a critical role in shaping global perceptions. While the details of their conversation remain veiled, the source speculates that these discussions will cast a ripple effect on Macron’s future engagements with world powers. As the world watches, the question persists – what diplomatic cards are being played, and how might this chessboard of international relations reshape the trajectory of the Gaza conflict?

The Security Quandary for Kurdistan:

The potential resettlement of Gaza’s population in Kurdistan raises not just diplomatic eyebrows but also serious security concerns. Recent geopolitical shifts have placed Iraq under the sway of militias, making any large-scale resettlement a precarious endeavor. As the specter of a destabilized region looms large, the Kurdistan Region grapples with the dilemma of providing sanctuary without compromising its own security. In a region where alliances are as fragile as peace, the stakes are higher than ever.

In this crossroads of exodus, the fate of Gaza’s refugees hangs in the balance, entangled in the intricate web of international diplomacy, political chess, and the quest for regional stability.

https://bnn.network/breaking-news/war/will-the-plan-to-bring-thousands-of-gaza-families-to-iraqi-kurdistan-become-a-reality/

Upheaval in Iraq: The Push for a Referendum and the Role of Inter-Regional Dialogues, 11 NOV

Upheaval in Iraq: The Push for a Referendum and the Role of Inter-Regional Dialogues

The city of Sadr in Baghdad is on the verge of a significant political shift, with officials pressing for a referendum. This move has sparked a new wave of inter-regional dialogues and collaborations, highlighted by the recent visit of Mohammed Shia Suudani to Erbil. Suudani’s visit, focusing primarily on the pressing issues that Iraq faces, underscores the country’s critical juncture.

Unrest and Political Tensions in Iraq

These developments in Iraq come amidst a time of unrest and growing political tensions. The push for a referendum in the city of Sadr is indicative of these tensions. The move could signal a possible shift in the political power dynamics, with potentially far-reaching implications. It also highlights the complexities of the political landscape in Iraq, with various factions vying for control and influence.

Mohammed Shia Suudani’s Crucial Visit

Mohammed Shia Suudani’s visit to Erbil has been another significant development. The purpose of the visit was to discuss important and current issues related to Iraq. This visit showcases the importance of inter-regional dialogues and collaborations in today’s politically charged environment. It also emphasizes the significance of open communication channels and the role they play in fostering understanding and cooperation.

Implications for the Future

The implications of these developments could be substantial. The push for a referendum in Sadr city could alter the political landscape in Iraq, while the dialogue initiated by Suudani’s visit may foster better understanding and cooperation among different regions. Both events underline the importance of nuanced political maneuvering in maintaining stability and promoting progress in Iraq. As the situation unfolds, the eyes of the world will undoubtedly remain fixed on Iraq, eagerly awaiting the outcomes of these developments.

https://bnn.network/politics/upheaval-in-iraq-the-push-for-a-referendum-and-the-role-of-inter-regional-dialogues/

"RV UPDATE" BY MILITIAMAN, 11 NOV

  Militia Man  

  The second workshop the UNCTAD will put on through 11-14 November 2023.   It is for Iraq's on going preparation for WTO accession... They are in it to the end now. They are in a place where they can have accession at anytime that the check boxes are checked...They are not waiting on any distant time frame. It is all a part of the process that they have to go through and the completion stage they are in...Just note, post assistance for Iraq and for after accession is a key indicator that they are in the completion phase.. 

 Article quote:  "It's not possible to import the dollar and secure in the local market without registering the dinar in the basket of Arab and international currencies."  Bing!  Wow, what did they just say? ...That's like going back to where they were in the past, that 'previous era'...

 They just told you their natural resource wealth is just phenomenal.  They're telling you their taxes and tariffs at the border have been activated...tourism...all of that.  What do you really know about what you own.   Pay attention to that

You can't vote on the hydrocarbon law for the citizens without revaluation.  You have to have value...Just like the World Trade Organization.  You have to have a value for ascension.  That's my view....I think it's falling into place.  It's really looking kind of cool...

HCL & WTO Need RV/RI Rate💣Iraq's Sanction Lifted🤔Iraq Dinar RV Updates |...

Weak Oversight And Smuggling Of Oil From The North.. Did Iraq Violate The OPEC Plus Agreement?, 11 NOV

 Weak Oversight And Smuggling Of Oil From The North.. Did Iraq Violate The OPEC Plus Agreement?

Economy |Baghdad today – Baghdad   Economist Nabil Al-Marsoumi said today, Saturday (November 11, 2023), that Iraq has confirmed its commitment to the “OPEC Plus” agreement and its production quota of 4.220 million barrels of oil per day.

Al-Marsoumi wrote in a blog post on his personal account on the Facebook platform, followed by “Baghdad Today,” that “Iraq’s oil exports, which rose to 3.533 million barrels per day last October, are the highest this year, resulting from a reduction in internal consumption, but a recent survey showed an increase in production.” Iraqi oil is 180,000 barrels per day above the levels specified by OPEC Plus, according to what S&P Global Commodity Institutes reported.

He continued, "Iraq's production rose last October to 4,400 million barrels per day, and this increase is largely related to weak control over oil production in Kurdistan, which consumes part of it internally and smuggles the other part through tanks to Turkey and Iran."

Yesterday, Friday (November 10, 2023), the Iraqi Ministry of Oil said that Iraq is committed to the OPEC+ agreement regarding determining production levels, two weeks before an important meeting of the oil producing group.

Iraqi Oil Minister Hayyan Abdul-Ghani said, according to a ministry statement received by Baghdad Today, that oil exports from the southern fields increased by 350,000 barrels per day, without mentioning a time frame.

The export of about 450,000 barrels per day of oil from northern Iraq has been halted since late March due to a conflict with Turkey.

The ministry's statement indicated that the increase in exports is a "natural matter" and did not affect the total production ceiling agreed upon within the framework of OPEC+.

The statement added, "These increases in export levels sometimes occur due to a decrease in domestic consumption from one quarter to another."

The statement also indicated that the OPEC+ group “will not hesitate to make decisions that ensure stability and balance in global markets.”

The OPEC+ group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, is scheduled to hold a meeting in Vienna on November 26 to determine production policy.

Last September, Iraqi Oil Minister Hayan Abdul Ghani said that Iraq's average oil production reached 4.23 million barrels per day, while the average oil export reached 3.35 million barrels per day.

Abdul Ghani confirmed that the government directed to focus oil investments in the western and central regions, while indicating that great strides had been made in enhancing investment areas through licensing rounds. According to press statements by the Minister.  LINK