There is a lot of news out of Iraq. According to the Iraqi press they are working hard on a change of value and deleting of the zeros. Deleting the zeros does not mean just take the zeros off…it means the dinar gains so much strength that you cannot use the bills with the 3 zeros on it… This is good news for us.
Iraq needs the official rate to be close to the trading rate. They can fix this. Saleh and others are suggesting they let the economy figure the rate out and no longer have an official fixed rate. If the market decides that would remove the black market completely...This is similar to conversations Kuwait was having just before they RV’d and had a release in value. These are steps we have seen before in past currency revaluations. They have been doing this for quite some time…they are just now starting to tell us about it.
Escalating Tensions: Iraq Recalls Ambassador to Tehran Amid Rocket Attacks, 16 JAN
In a significant diplomatic move, the Iraqi government has recalled its ambassador to Tehran for consultations, in response to the recent Iranian rocket attacks on Erbil. The action marks a notable surge in tensions between Iraq and Iran, with the consequences of the attacks still unfolding.
Recalling the Ambassador
Ambassador Nassir Abdel Mohsen was withdrawn from Tehran following the deadly missile onslaught carried out by Iran’s Revolutionary Guards on Iraq’s autonomous Kurdish region. The strikes, which were aimed at ‘espionage centers’ and anti-Tehran groups in Erbil, resulted in multiple casualties, escalating the situation into an international concern.
Response to Aggression
The recalling of the ambassador reflects Iraq’s disapproval and deep concern over the Iranian military aggression on its territory. The Iraqi authorities have not only condemned the missile strikes but also labeled them as a blatant violation of their sovereignty and a threat to regional security. They plan to take legal measures, including lodging a complaint with the UN Security Council, and publishing findings of an investigation to disprove the allegations.
Implications for the Middle East
This development is likely to cast long shadows on the diplomatic relationship between Iraq and Iran, potentially influencing regional stability and security dynamics in the Middle East. Iran’s defense of the missile strikes as a ‘targeted operation’ and ‘just punishment’ against those who breach its security, indicates the severity of the situation. As Iraq recalls its ambassador for consultations, the international community watches closely, anticipating the potential implications of this escalating conflict.
A deadly missile strike in Erbil, Iraq, resulted in the deaths of at least four individuals and left five others injured. The attack, which has been reported by Al Arabiya and Kurdistan 24, remains shrouded in uncertainty regarding the perpetrators or the motive. This incident, occurring in a city that has otherwise maintained relative stability compared to other regions of Iraq, highlights ongoing challenges faced by the country in ensuring citizen safety and maintaining peace.
An Unexpected Strike in Erbil
On an ordinary day in Erbil, a missile struck, causing an explosion near the U.S. consulate and a U.S. military facility. This attack struck fear into the hearts of the Iraqi people, reminding them of the volatile security situation in their country. The Iranian Revolutionary Guard Corps claimed the ballistic missiles were launched in response to terrorist crimes. However, their statement did little to quell the panic and uncertainty that ensued.
Among the casualties was Peshraw Dizayee, a multimillionaire businessman and his family. The strike resulted in four deaths and six injuries, triggering an outpour of grief and anger from the citizens of Erbil. The Iraqi government condemned Iran’s ‘aggression’, stating it would consider filing a complaint at the United Nations Security Council.
U.S. Response and Condemnation
The U.S. State Department denounced the attacks and expressed support for Iraq’s stability. The U.S. officials clarified that the attacks did not affect any of their facilities, and there were no U.S. casualties. However, they conveyed their strong support for the Government of Iraq and the Kurdistan Regional Government’s efforts to meet the aspirations of the Iraqi people.
The U.S. State Department condemned the attacks near Erbil, calling them reckless. The attacks raised concerns about a wider regional escalation due to Israel’s military offensive in the Gaza Strip.
Iran’s Claim and the Aftermath
Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for the missile attack on Erbil, targeting ‘spy headquarters’ of anti-Iran groups. This attack resulted in the death of at least four civilians and left 17 injured, causing substantial material damage to residences near Pirmam road.
The IRGC maintained that they had targeted ‘three Mossad bases’ in Erbil, despite the Kurdistan Regional Government (KRG) denying the presence of Israeli intelligence in the region. Following the attack, Erbil International Airport suspended all inbound and outbound flights, adding to the growing tension and fear in the region.
In the aftermath of the missile attack, the city of Erbil is left to mourn its losses, heal its wounds, and piece together the fragments of a shattered sense of security.
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