DINAR REVALUATION

Tuesday, July 23, 2024

NADER FROM MID EAST: Iraq bank sector

Oil And Gas Law Stuck In Parliament's Drawers, 23 JULY

Iraq 08:07 - 2024-07-23 Political differences and the absence of consensus since the first session of the House of Representatives have kept the draft oil and gas law stuck in the parliament’s drawers.

In each session, conflicts have prevented its approval in its final form. Five parliamentary sessions have passed and the law has not been released to this day.

The parliamentary Oil, Gas and Natural Resources Committee expects the law to be postponed to the next parliamentary session due to ongoing disagreements.

Ali Al-Lami, a member of the parliamentary Oil and Gas Committee, says that one of the reasons for obstructing the approval of the Oil and Gas Law is the ongoing disagreements between the governments of Baghdad and Erbil.

He adds that his committee sent the law to the government at the beginning of the current parliamentary session, but we do not expect it to be approved during the current session, as it requires study and reading, suggesting that the law will be postponed to the next parliamentary session.

For her part, Zainab Al-Moussawi, a member of the parliamentary oil and gas committee, says that the law is almost complete, and to a high degree, but there are some objections regarding some points, which are summarized in the delivery of oil revenues and exploited and unexploited natural resources to Baghdad.

Al-Moussawi adds that the oil and gas law is concerned with organizing the country's natural resources and exploiting the largest possible amount of undiscovered oil fields.

She points out that the law will also contribute to achieving self-sufficiency in oil derivatives and optimal exploitation of wasted natural resources, estimated at hundreds of billions of dollars, which contribute to diversifying the state's financial resources.

The draft of the oil and gas law in Iraq available to parliament stipulates that the responsibility for managing the country's oil fields should be entrusted to a national oil company.

Prime Minister Mohammed Shia al-Sudani had previously confirmed that the draft oil and gas law is one of the basic and important laws, and represents a factor of strength and unity for Iraq. It has been pending for years, at a time when the country is in dire need of its legislation and to benefit from this natural wealth in all fields and sectors, in addition to the contribution of the legislation of the law in solving many of the outstanding problems.

He explained that there are governorates that have not invested their wealth, which is a negative thing for development efforts in all their paths. https://kirkuktv.net/AR/Details/21690

RV UPDATE BY TEXAS SNAKE, 23 JULY

TEXAS SNAKE

I must admit the wonders crossing my mind with so little time weekly that this room is open that the membership numbers continue to climb.... You folks are amazing. The banker is still hopeful we exchange before months end but folks way above his paygrade are causing the delays as everything needed to exchange has been accomplished mechanically. Kick this around or bring additional intel you have heard to the table.

The banker is traveling back to Texas on Wednesday and is hopeful for a Thursday announcement with appointment scheduling to follow thru the weekend, we shall see.

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TEXAS SNAKE

I am very much looking forward to a phone call at the end of our church Bible study class in the morning based upon all the issues I have had presented to me today, hopefully the banker will finally have a window with a specific date.

Text just recv'd from banker indicating the anticipated message may come in a little later in the day but he would advise ASAP after he gets it.

Everyone please remember our Sunday is there Monday

For thosew members who wish to visit will open until the local news starts.

Truly appreciate all you folks for joining have no idea how so many have heard of this site but feel we are truly close to the end, stay well, confident and pray this event in, GOD Bless

https://dinarevaluation.blogspot.com/2024/07/rv-update-by-texas-snake-22-july.html

MILITIAMAN: Iraq Dinar-Prime Minister Advisors-Saleh-Al-Nusairi-Facts bringng facts-...

An Expert Warns Of A Return To Rising Inflation Rates Globally.. What Is The Connection To The Iraqi Markets?, 23 JULY

Money and business Economy News – Baghdad Economist Ziad Al-Hashemi warned on Monday of the possibility of inflation rates rising again globally with the continuation of Houthi attacks on commercial shipping vessels in the Red Sea region.

Al-Hashemi said in a post on the Ax website that there are "fears of inflation rates rising again globally with the continuation of Houthi attacks on commercial shipping vessels in the Red Sea region for the sixth consecutive month, and Iraqi markets are on the list of those affected!"

He added, "The global economy has begun to feel the pressures of rising costs and prices as a result of the continued disruption of transport chains between Asia and Europe, with the Houthi attacks continuing for the sixth month and the diversion of shipping routes away from the Red Sea.

Shipping prices have quadrupled on a monthly basis from $1,890 in the first month of 2024 to more than $8,000 during the seventh month, per FEU container."

He stated that "during the past period, many international economic and financial experts have downplayed the effects of the disruption of maritime transport routes due to Houthi attacks, and their negative repercussions on the prices of goods and services in Western economies, especially the consumer price index (one of the most important indicators for assessing the path of inflation),

but with the continuation of security risks and threats in the Red Sea region, the continued rise in transport prices, and the imminent expiration of many long-term contracts with fixed freight rates, many convictions and analyses have changed."

Al-Hashemi stressed, "We have growing concern that the large increases in shipping prices will lead to significant increases in the prices of goods and products in Western markets, which will put pressure on inflation rates that have gradually begun to decline and reach the targeted levels."

He added, "These price pressures may lead to inflation rates rising again, which means that the efforts and endeavours of central banks to curb inflation in the West have faltered, and this will greatly hinder and delay the start of the process of reducing interest rates, which global markets are eagerly awaiting."

He pointed out that "concerns in the markets continue and are increasing with the continuation of military operations, the disruption of transportation routes, and the rise in transportation prices to significant levels, especially with the absence of light at the end of the tunnel of this crisis, and eyes will focus more on inflation rates, and waiting to see how things will develop."

Regarding the impact on the Iraqi markets, Al-Hashemi confirmed that they are “highly affected by changes in shipping prices coming from Asia, and increases in shipping prices can directly and quickly affect the prices of imported goods, and this may be one of the reasons for the rise in commodity prices in the Iraqi markets during the first half of 2024.”

189 views 07/22/2024 - https://economy-news.net/content.php?id=45479

RV UPDATE BY WOLVERINE, 23 JULY

WOLVERINE

Mon. 22 July 2024 Wolverine (This Tues. 23 July):

“It is Tuesday afternoon here, and it is very cold. I am letting you know the Precatorios has started today from 3 o’clock onward and will actually be releasing their opera. They sent a note saying, “Tomorrow we will have a wonderful complete opera concert.”

“They will send me their opera so their people can celebrate. Finally a huge platform is going to be releasing funds to many people with billions of dollars involved. A lot of people will be astronomically blessed.

“Reno and Zurich are moving. Some whales are flying to Zurich, one huge Whale is now purchasing his airline ticket to fly down there.

“We are waiting to hear more news from bond holders. Waiting to get the miracle call this week.

“Nothing for 4B group – this is a letdown. I was told that some 4A groups have received payments, but not liquid money yet. It is a start. Hopefully, those accounts will become liquid this week.

“That is about it. The big news is that the Precatorios have started. I talked to the owner and he said “Wolvie, I am at the bank at the moment.” They have their green light and they will be released by tomorrow.

“I am waiting to receive the call so I can fly out. When that happens Carpathia and Shelby will be looking after the channel. I hope to have better news for all of you tomorrow.

“Story about a couple I just received: This couple was just about to hand over their house as they could not afford the mortgage, and that same day they saw the figures for their mortgage and they had zero balance. Their account has actually been cleared, so maybe Nesara is working and people are getting their accounts cleared. This was the same day they were to lose their home and this miracle occurred.

“I received a call this morning. Funds will be released tomorrow Tues. 23 July (later he changed it to Wed.) They will be liquid. I received an email saying the RV was imminent and about to commence. It’s official. Keep an eye on your emails.”

SOURCE: DINARCHRONICLES