Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani received, on Wednesday evening, a phone call from the Secretary-General of the United Nations Antonio Guterres.
According to a statement issued by his media office, it was reported to Shafaq News Agency, during the call, coordination with the international organization on various issues and the future relationship between Iraq and the United Nations was discussed. The developments in the situation in the region were also discussed, especially with the continuation of the war in Gaza, which caused serious humanitarian and security repercussions that require the speedy of urgent humanitarian assistance to the people in the Gaza Strip.
The Prime Minister appreciated, according to the statement, Guterres’ positions calling for a stop to the war in Gaza, which coincide with Iraq’s positions, which confirm preventing escalation and spare the region from sliding events towards dangerous turns.
For his part, Guterres stressed the need to stop the war on Gaza, and to spare the region more repercussions and tensions, praising Iraq’s role and continuous pursuit of communication to achieve calm and prevent the expansion of the conflict.
This is the monetary reform roadmap for the next couple of weeks...January 29th a banking campaign was started to release deeper education about the monetary reform to the Iraqi citizens...
Either Thursday or Friday the Minister of Planning, Minister of Finance, the Governor of the Central Bank of Iraq and the Prime Minister Sudani are all going to be receiving the flow down of information regarding the new currency that is to be released and the new exchange rate for that new currency...Also...the Erbil Stock Exchange (ESX) and The Iraqi Stock Exchange (ISX) have completed their linkup...of international platforms. They are done and going live at any moment.
Movements before they release the lower denoms and new exchange rate we expected to see this... December was to have everything ready in place to go. January all these systems are being implemented through the monetary reform education. From private banks like the one Aki [Iraqi bank friend] represents to international markets as of today January 15, 2024 they're all international now. It's what we expected...there's not more to say...because everything now is in print...
The rate doesn't matter. You're going to trip over you own feet when it finally does float because you're going to be looking for a rate. Watch the growth of the dinar's value.
The only thing missing is the lower denoms and the new exchange rate. Everything else is in position.
[Aki - Iraq Bank In US update]
AKI: There are many Iraqi citizens in the United States of American holding 3-zero notes. It is my job to collect them for the CBI, where they will destroy them. Our [job] is to turn in the 3-zero notes.
WALKINGSTICK: This is huge!
AKI: Agree. Direct deposit from now on. No limitations. Article VIII not only for the citizens but for investors.
[Aki - Iraq Bank owner in US update]
Question: " The new orders you got on January 1st, are they for you to dispense the lower denoms and collect 3 zero notes?"
Here in the Untied States we are preparing to do everything with electronic platforms...We are prepared to collect the 3 zero notes from those that wish to exchange them for American dollars...We follow International banking laws, the same laws American banks follow. Here in the United States the bank that I am in charge of will be all electronic.
When you ask about the LDs they are only found in Iraq. We do not possess them. Iraq will give to the Iraqi citizens, when the time comes, physical lower notes and coins and collect three zero notes...The difference is that here in the US I have to do everything electronic where my friends in Iraq, their banks can do it electronic or physically if they want the lower denoms and coins in their hands .
There are many Iraqi citizens in the United States of American holding 3-zero notes. It is my job to collect them for the CBI, where they will destroy them. Our [job] is to turn in the 3-zero notes. WALKINGSTICK: This is huge! AKI: Agree. Direct deposit from now on. No limitations. Article VIII not only for the citizens but for investors
[Aki - Iraq Bank owner in US update]
Question: "The new orders you got on January 1st, are they for you to dispense the lower denoms and collect 3 zero notes?" Here in the Untied States we are preparing to do everything with electronic platforms...We are prepared to collect the 3 zero notes from those that wish to exchange them for American dollars...We follow International banking laws, the same laws American banks follow. Here in the United States the bank that I am in charge of will be all electronic.
When you ask about the LDs they are only found in Iraq. We do not possess them. Iraq will give to the Iraqi citizens, when the time comes, physical lower notes and coins and collect three zero notes...The difference is that here in the US I have to do everything electronic where my friends in Iraq, their banks can do it electronic or physically if they want the lower denoms and coins in their hands.
WASHINGTON’S MESSAGE TO BAGHDAD: ECONOMIC SUPPORT WILL FADE AFTER WITHDRAWAL, NO NEGOTIATIONS BEFORE ATTACKS STOP
Mawazine News – Baghdad Reliable sources revealed the content of a letter handed over by US authorities to the Iraqi government regarding the arrangements for the withdrawal of the international coalition forces.
The letter included “the method of withdrawal and its timetable,” along with “the obligations on the Iraqi side,” stressing that this withdrawal, if it happens, will not be without a price and “will not stop the deterrent attacks of armed groups loyal to Iran.” The Iraqi Foreign Ministry said on Wednesday night that an “important letter” had been received from Washington, and that Prime Minister Mohammed Shia’a Al-Sudani would study it carefully.
The sources explained to Asharq Al-Awsat that “Washington does not mind the transition to a new stage of bilateral relations, but the withdrawal of forces (by any way) will not stop the deterrent attacks of the activity of armed groups loyal to Iran, as long as they contribute to destabilizing the security and stability of the region.”
The Sudanese shared “important aspects” in the American message with leaders in the “Coordination Framework” coalition, including “confirmation that US strikes will not stop against the factions,” according to the sources. “The upcoming technical negotiations to arrange the withdrawal will not be easy and quick, and will take the time necessary to ensure that all files associated with this presence are settled,” the letter hinted.
According to the sources, “Washington encouraged Baghdad during the letter to understand and understand the consequences of the withdrawal, including the financial and economic obligations that bind the two countries.”
Iraq has been depositing its oil revenues in a bank account controlled by the US Treasury Department since 2003, pursuant to UN Security Council Resolution 1483, which was intended to “help Iraq manage its resources in a transparent manner.”
Since the American message arrived at the government offices in Baghdad, political forces have been active in intensive dialogues, trying to understand the appropriate way to deal with “this sudden step.” Three informed sources told Al-Sharq Al-Awsat that “an influential Shiite party within the (coordination framework) is now trying to convince the factions involved in the field escalation against the Americans to retreat a little.”
The Islamic Resistance in Iraq confirmed yesterday, Friday, that the request of the United States of America to the Iraqi government to hold talks to arrange the status of its forces, is “except an attempt to mix the cards, turn the table on the resistance, and gain time, to carry out more crimes and demonic schemes to harm our people and nation.
“The US Treasury requests Iraqi cooperation to limit funding for armed factions” This is all part of what’s going on as Iraq cleans up. And yesterday - again in Iraq - they started openly talking about the exchange rate and the value of the dinar.
Comment: I hear more and more groups are under NDA’s. MarkZ: We are hearing of more and more… My banking contacts still feel If we have to sign one - it will be about the amount we get...we are definitely close.
“Burhan Nassir Mohammed Al Namral sworn in as Iraq’s new Parliament speaker” This one is important. It has been rumored in some circles for a few months that he was a stickler for moving forward with the white papers and rate change. I’m taking this as a good sign.
The Parliamentary Finance Committee on Wednesday called for the sale of Iraqi oil in currencies other than the US dollar to face sanctions imposed by the US Treasury Department against Iraqi banks.
A statement to the Parliamentary Finance Committee, the network received a 964 copy of which:
The US Treasury Department is still invoking money laundering to impose its sanctions against Iraqi banks, which requires a national position that puts an end to these arbitrary decisions.
Imposing sanctions on Iraqi banks would undermine and hinder the steps taken by the central bank to adapt the stability of the dollar exchange rate and reduce the selling gap between the official and parallel price.
While we reject these practices, because of their repercussions and consequences for the sustenance of our citizens, we renew our call to the government and the Central Bank of Iraq to take quick measures, to get rid of the dominance of the dollar, by diversifying our foreign currency reserve.
We also propose to oblige the Ministry of Oil to sell Iraqi oil in other foreign currencies.
AN INTERNATIONAL WARNING ABOUT THE ESCALATION OF THE MIDDLE EAST CONFLICT: IT WILL SIGNIFICANTLY AFFECT GAS FLOWS
(There is more than enough energy in all forms to supply the world 1000 times over. This glut for shortages and price gorging is manipulative and very deceptive. It just that who controls the energy and how do they manipulate the prices keeping it from us. I can hardly believe how stupid the EU was in managing our energy supply. There was no reason for the shortages if only we had common sense people running our governments. Who are you going to VOTE for?)
The International Energy Agency expects global demand for natural gas to grow this year (2024), but warned of price fluctuations due to geopolitical tensions in the Middle East.
According to a recent report, high inventory levels, along with improved supply expectations, provide some reassurance to gas markets during 2024, but geopolitical uncertainty represents a major risk.
The report pointed out that the continued Russian invasion of Ukraine, escalating tensions in the Middle East, increasing restrictions on shipping, delays in liquefied natural gas projects, and adverse weather conditions as factors that could cause fluctuations in the markets during 2024.
Despite the increasing geopolitical uncertainty, global gas demand is trending to grow by about 2.5%, or the equivalent of 100 billion cubic metres.
Demand for Natural Gas
Lower gas prices in 2023 and expectations of colder winter weather in 2024 will lead global demand to grow to a total of 4.19 trillion cubic meters this year, compared to 4.089 trillion cubic meters in 2023, according to the quarterly gas market report issued by the International Energy Agency on Friday, January 26. / January 2023.
In 2023, global gas demand rose by just 0.5%, with growth in China, North America, Africa and the Middle East offset by declines elsewhere.
Demand for natural gas in China rebounded during 2023 by 7%, with the return of economic activity, after recovering from the restrictions of the Corona pandemic, so that Beijing regained its position as the largest importer of liquefied natural gas in the world.
In contrast, natural gas consumption in Europe fell by 7%, reaching the lowest level since 1995, with the rapid expansion of renewable energy, increased availability of nuclear power, and rationalization regulations.
The International Energy Agency expects demand in Europe to grow by 3% during 2024, but it will remain about 20% below pre-energy crisis levels in 2021.
Global natural gas production rose to 4.116 trillion cubic meters in 2023, compared to 4.105 trillion cubic meters the previous year, according to the International Energy Agency.
On the supply side, gas availability remained relatively limited during 2023, as the increase in global production of liquefied natural gas was less than expected, and production growth was not sufficient to compensate for the continued decline in pipelined Russian gas supplies to Europe.
Moreover, supply growth has been highly geographically concentrated, with the United States becoming the largest exporter of LNG globally, accounting for 80% of additional LNG supply in 2023.
US exports of liquefied natural gas. The International Energy Agency expects liquefied gas supplies to grow by 3.5% this year, much lower than the growth rate of 8% between 2016 and 2020, noting that the delay in new liquefaction stations and problems surrounding the availability of feed gas – delivered gas For liquefaction plants – in existing projects, this may lead to postponement of supply growth until 2025.
For this reason, it is possible that the growth in demand for gas and the tight supply could contribute significantly to price fluctuations throughout the year, according to the report.
The International Energy Agency warned that the escalation of the conflict in the Middle East could significantly affect liquefied natural gas flows, especially since Qatar represents a fifth of global liquefied gas supplies.
Qatar had announced that its tankers would temporarily stop transiting through the Suez Canal, noting that the crisis in the Red Sea amid the Houthi attacks may affect the scheduling of some shipments, but it stressed its commitment to its customers.