At a rate of 13 billion per day… Oil: The volume of electronic sales has increased, and a date has been set for the complete cancellation of cash trading, 19 JAN

At a rate of 13 billion per day… Oil: The volume of electronic sales has increased, and a date has been set for the complete cancellation of cash trading

The Petroleum Products Distribution Company in the Ministry of Oil announced today, Thursday, that the volume of product sales through the electronic payment system has increased to 13 billion per day, while setting the date for the final cancellation of cash circulation.

The company’s general manager, Hussein Talib, said in a statement to the official agency, followed by NRT Arabia, that “the movement of selling petroleum products through electronic payment has risen to 13 billion dinars per day after it was ranging between 10-11 billion, whether at government and private gas stations or Providing generators and agents with gasoline, kerosene, gas, and mobile phones,” pointing out that “the demand for electronic payment is increasing dramatically daily.”

He added, “Our company obligated the electronic payment gateways to nominate employees authorized by these companies to collect money from citizens through electronic payment.”

He pointed out that “the directives of Prime Minister Muhammad Shiaa Al-Sudani set next June of 2024 as the date for ending cash trading and adopting the electronic payment card,” stressing that “the company has a plan to end cash trading at the end of next March, that is, in the quarter.” First of 2024.

He explained that adopting electronic payment and ending cash circulation will serve citizens, ensure that fuel is sold to them at the official price, and preserve state funds from theft and manipulation.

He stated, “Iraq is very late in the issue of electronic payment, as the countries of the world preceded it for a long time in the field of technology and electronic payment. Therefore, the Prime Minister is determined to end cash circulation and adopt the electronic payment system in 2024.”

The Petroleum Products Distribution Company introduced the electronic payment service at gas stations since April 2023, and began gradually spreading the experiment to fuel filling stations in Baghdad and the governorates.

nrttv.com

"RV UPDATE" BY MILITIAMAN, 19 JAN

 Militia Man  

 Now you have 5 articles from the WTO, you have documents from the Central Bank of Iraq, 11 pages talking about metal coins?  

Why would you be talking about metal coins/currencies and exchanging notes, counting them, mechanisms to do all that when you don't have any?  1310 there's no coins.   Then you see 5 articles about the ascension to the World Trade Organization...I'm pumped.  I'm excited about it.

 Article quote:  "We completed in one year the equivalent of more than 15 years of work..." 

The delegation has been working with Iraq to have an ascension to the WTO.  They're telling you they did the equivalent of 15 years worth of work in one year...It's flat out knock your socks off good information.  It's not me making it up, not anybody else making this stuff up.  This is what they're giving to us to share with you...

Vietnam Dong✅Vietnamese Dong Latest Exchange Rate Today 2024 / Dong Upda...

A parliamentary committee reveals the fate of the oil and gas law.. Will it be deported again?, 19 JAN

 A parliamentary committee reveals the fate of the oil and gas law.. Will it be deported again?

Information/private..
Today, Thursday, the Oil, Gas and Natural Resources Committee revealed the fate of the Oil and Gas Law, while it was likely that the law would be transferred to the next parliamentary session.

Committee member, Zainab Al-Moussawi, said in an interview with the “Al-Ma’louma” agency, “There are no developments regarding the oil and gas law at the present time. The political situation affected the selection of a new president for the Iraqi Council of Representatives.”

She pointed out, “The repeated violations of the American forces in Iraq take up part of Parliament’s work, as it supports the government in removing its forces from the country,” adding, “It is expected that the chapters of dialogues between Baghdad and Erbil regarding the law will begin again after the selection of the Speaker of the Council.”

The oil parliamentary member explained, “If the Kurdish dispute continues over some points of the law, I expect it to go to the next parliamentary session.”

Earlier, former member of the Oil and Energy Committee, Ghaleb Muhammad Ali, confirmed on Wednesday that there were political problems and differences between Baghdad and Erbil regarding the oil and gas law.

The political analyst, Sabah Al-Ukaili, had previously seen that the Kurdistan region continues to pose obstacles to the approval of the oil and gas law, while he stressed that the adoption of the law will prevent all disputes in the oil provinces, especially the Kurdistan region.

The Kurdish parties continue to obstruct the government in approving the oil and gas law, which voting on within the corridors of Parliament has become a must, in order to end the violations and thefts carried out by the Kurdistan Regional Government in the oil smuggling file.

almaalomah.me

"RV UPDATE" BY FRANK26, 19 JAN

 Frank26  

 What did we say they were going to do on the 15th? 

 Go international. 

 Do you think they did? 

 Yeah.  It's not for me to prove it to you, it's for them to show it to you.  But let them show it to the citizens first.

Beside Sudani and Alaq, the only two we listen to, I want you to add Barzani.  As time goes by you'll understand why. 

 Barzani is working very nicely with Sudani, Baghdad, the GOI...We're adding Barzani to the group.  Sudani and Alaq are explaing the monetary reward to the Iraqi citizens, so is Barzani. 

Notice articles this week are focusing on the monetary reform education, which is about the currency, lower denoms, new exchange rate, accounting, banking reform, everything.  It's all being unloaded onto the citizens of Iraq...Let's be fair, they're just getting started.  Let's see what happens this quarter...

Iraqi Dinar✅CentralBank of IRAQ Official Announcement | IRAQI DINAR | Mo...

8 countries deal a strong blow to the dollar, 19 JAN

8 countries deal a strong blow to the dollar

Information/follow up..
Egyptian media reported a major shift by countries including Russia, China, India, Brazil, Iran, Indonesia, Egypt and Turkey towards abandoning the dollar.

According to the “Sada El Balad” website, the Egyptian state is reducing its dependence on the US dollar as a major currency for imports and exchanging local currencies with international trading partners, such as Russia, China, India and Turkey.

According to the latest statistics from the Chinese Embassy on the volume of investments between Egypt and China, the volume of Chinese investments in Egypt has increased from 500 million dollars to 1.5 billion dollars, with the increase rate exceeding 100% over the past ten years. The volume of trade exchange between China and Egypt has also increased from 10. Billions to $20 billion in the same period.

In this regard, economic expert Ahmed Moati said that the world became aware of the existence of a crisis because of the United States of America and because of the dollar, so it abandoned it in trade exchange between countries.

Moati pointed out in statements to the “Sada El Balad” website that there have been attempts led by Russia and China for some time to drop the role of the US dollar in global trade, and the reason is due to the two countries’ desire to weaken the United States’ hegemony in the world.

He continued: In the coming period, we will see countries relying on other currencies instead of the US dollar.

He explained that what is happening in terms of countries joining forces side by side constitutes a concern for the dollar, especially if the BRICS countries agree to such bilateral agreements regarding intra-regional trade.

It is worth noting that the BRICS group began abandoning the dollar in global trade transactions.

Many countries have moved to break the dominance of the American currency over global commercial transactions. There are international agreements between many countries to start trade exchange in the local currencies of those countries, as China and Brazil agreed to exchange their local currencies instead of using the dollar, and the volume of trade exchange between the two countries amounts to 150 billion dollars. .

Also, 90 percent of the trade exchange between Russia and China is conducted in rubles and yuan, amounting to more than 260 billion dollars, in addition to an agreement with a number of their trading partners around the world to exchange trade in the local currencies of these countries.

Russia and Iran also agreed to develop a cryptocurrency backed by gold as an alternative to the dollar, in addition to another agreement between Russia and India to abandon the dollar in intra-regional trade, not to mention that the Russian ruble has become the main currency within the countries of the Commonwealth of Independent States.

almaalomah.me