Israeli assassinations escalate tensions: Iraq’s stability at risk, 8 AUGUST

 Shafaq News / Recent Israeli assassinations of key figures, including Hezbollah’s top military commander Fouad Shukr in Beirut and Hamas’s political leader Ismail Haniyeh in Tehran, have heightened regional tensions and put Iraq’s stability in jeopardy. These attacks threaten major escalation across a Middle East already volatile from last year’s Gaza war, according to a US Stimson Center report. 

The assassination of Haniyeh in Tehran has significantly shaken the confidence of Iran-aligned Iraqi leaders in Iran’s ability to ensure the safety of visiting dignitaries. A prominent Iraqi official noted, "The inability of Iran to protect Haniyeh has led to doubts about Iran's security assurances." The Islamic Republic of Iran and Hezbollah are expected to respond, though the timing and nature of their actions remain uncertain.

Due to Iraq’s strategic location and the presence of US troops, the country risks becoming a focal point if the conflict widens. On August 5, a rocket attack on the Ain al-Asad base injured several US servicemen, further escalating tensions. Given Iraq’s fragmented political landscape and the influence of “pro-Iran militias,” the potential impact of a broader regional conflict could be severe.

Based on the report, Prime Minister Mohammed Shia al-Sudani faces challenges in navigating this crisis while attempting to keep Iraq neutral amid the proxy war between Iran and the US Despite efforts to mediate regional conflicts and improve ties with Sunni neighbors, al-Sudani's government struggles with internal and external pressures. The planned $17 billion Development Road project, aimed at transforming Iraq into a regional trade hub, faces uncertainty due to ongoing regional tensions and Iranian opposition.

While al-Sudani successfully brokered a tentative truce earlier this year, recent events, including the rocket attack on August 5, cast doubt on the truce's durability. The Iraqi government condemned the attack, but it remains to be seen how such statements will affect Iraq if US retaliation occurs.

Moreover, Arab Gulf states have shown increased willingness to invest in Iraq to bolster its economic recovery and reduce Iranian influence. However, a full-scale regional conflict could undermine these efforts and jeopardize Iraq's progress.

The report further revealed that despite some pro-Iran factions in Iraq expressing hesitation about retaliation, Iran's strategic interests in Iraq remain intact. Tehran’s approach aims for a stable yet strategically beneficial Iraq that facilitates the transfer of arms and funds to Hezbollah via Syria. Although the recent assassinations demonstrate Israeli intelligence superiority, Iran’s fundamental strategies are unlikely to change. The risk of escalating violence remains, with potential repercussions for Iraq’s stability.

As the region braces for potential Iranian and Israeli responses, de-escalation efforts led by the US and other powers, including a durable Gaza ceasefire, are crucial to mitigating the impact on Iraq’s fragile stability.

Disclaimer: The views expressed in this article do not necessarily reflect the standing of Shafaq News Agency.

GINTEL FROM EUROPE BY GINGER, 8 AUGUST

 💢Gintel for 8.8.24 - Extremely encouraging update coming from friends who are part of the Triple Cabin Extravaganza, camping destination Europe. 😁

💢 Friends report that they are working on their final Camper's Registration Forms and Permission Slips for their 💦Wet White Water Rafting excursion💦. One Happy Camper exclaimed, "This is real! We're really here! In all these years, I've never seen this adventurous destination so close in my binoculars! It's now fully in reach!" 

💢 Another Happy Camper exclaimed: I got a phone call from my Camp Director!! He said, "Hold on! Things are moving very fast now!" 😁 (Triple Cabin Extravaganza, to be clear 😉) 

💢 From my beautifully bedazzled bionic binoculars, I spy whales, swimming happily 🌊💦

#HappyCampers #RVThereYet #GLL

---

 Meri17, Liberty Lounger Extraordinaire, takes the words right outta my mouth. Love what she had to say, so definitely wanted to give it wings. 8.8.24 

💢Meri: I believe it was recorded late Monday. (Audio messages https://t.me/c/1553385444/57239)

The window reported by the msm was 48 hrs that day, then they added a few days. 

By all accounts, we’re in the window now, which would put the public phase of all of this likely in the next several days. 

They don’t seem to be backing off the “war” scenario, so it looks like it’s a go as part of the scare event.----

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SANDY IINGRAM: Heads Up BREAKING NEWS Troops Being Deployed to Middle East

Iraq gold reserves surpass 148 tons, 8 AUGUST

 Shafaq News/ Iraq has increased its gold reserves to more than 148 tons, according to a report released by the World Gold Council on Thursday.

The latest data showed that Iraq has climbed one spot to rank 29th globally out of 100 countries, up from 30th place. Regionally, Iraq holds the third position among Arab nations, following Saudi Arabia and Lebanon.

The report highlighted that Iraq boosted its gold holdings to 148.3 tons, up from 145.7 tons. Gold now represents 10.02% of Iraq's total reserves.

The World Gold Council also noted that the United States remains the largest holder of gold globally, with reserves totaling 8,133.5 tons. Germany followed with 3,351.5 tons, and Italy ranked third with 2,814 tons. Suriname ranked last on the list with reserves of 1.2 tons.

RV UPDATE : ABOUT THE RESIGNATION OF IRAQ CBI GOVERNOR" BY REINALDO JC, 8 AUGUST

 REINALDO JC

Regarding The Resignation of Iraq Central Bank Governor Ali Al-Alaq. imo-It’s A Great Thing He’s Moving On-Meaning He Has Done All He Can Do Within His Perimeters. He Has Accomplished His Part/Job(Stability). You’ll Really Think The CBI/Alaq Completed All This Monetary Reforms Just To Let It Go To Waste This Is A Classified Event. Remember Everything is Scripted. They Are Trying To Misinform/Disinform & Confuse You. This Would Happen The CLOSER We Get To The END of This Investment!!! If Frustrated/Broke-Hold On A Bit More, As We Are Almost To The Finish Line It’s Inevitable!!! …My Cigar Will Be Lit In 2024. LFG

🟢IQD Exchanges Reclassified With The SEC

The Iraqi Central Bank Resolves The Controversy Over Reconsidering The Dollar Exchange Rates, 8 AUGUST

  August 7, 2024  Baghdad/Iraq Observer  The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Wednesday, that the  financial situation in Iraq is proceeding as planned, while noting that the 

controversy over the dollar exchange rates has been resolved.  

Al-Alaq said in a press interview followed by “Iraq Observer,” that “there are external and local challenges, but in general, the financial situation in Iraq is still proceeding within what is planned in the state’s general budget,” indicating that  “there is high coordination between the central bank and the president.”
 
The ministers and the Ministry of Finance are committed to ensuring the financial aspect of its continuity, stability and sustainability.”  

He added,  “We are currently working closely, almost daily, with the Ministry of Finance in order to implement the financial plan drawn up in the general budget, in a way that ensures coverage of its objectives, programs, and existing needs,” noting that
 
“for the first time, by virtue of the new Budget and Financial Management Law, allocations for governorates and ministries have been rotated.”
 
Therefore, there is broad coverage of the needs of the financial side, and for the first time, the size of the balances held by the ministries and governorates is large, enabling them to perform their role.”  He stated that
 
 “the Central Bank is undergoing a major transformation process in reorganizing foreign trade in a way that secures several goals at the same time, and among these goals is the transparency of external transfer operations that begin from the transfer process and the transferor to the final beneficiary and to the exporter through all data, documents and information that enhance And it matches reality,” he explained, explaining that
 
“this process is taking place for the first time in the history of Iraq and involves international auditing institutions that scrutinize the information before it reaches the implementation stage, as long as the process meets all the local conditions and standards represented by the Anti-Money Laundering and Terrorist Financing Law or international standards then.”
 
These transfers will proceed, but if there is any deficiency, defect, or suspicion, they will be immediately rejected and returned.”  He stated that
 
 “the previous audit process was taking place, but in a subsequent process, and
 
the audits may continue for years, but now the process does not proceed unless it is sound in all its aspects, parties, documentation, reinforcements, and facts on which it is based,” explaining that
 
“any transformation process requires time and understanding between all parties and also to acceptance.”  He stressed that
 
 “the level of acceptance of this new system has included large and medium importing companies, thus ensuring all their imports with high smoothness, and this matter is very necessary,” pointing out that
 
“the problem of small traders, some of whom have entered this process and others are still hesitant to enter or are looking for... Other means to cover his foreign trade, either to escape tax or customs accountability or the procedures required by the process of opening accounts.”

He stated that “what we are focusing on in the current and next stage is to make everyone involved in sound fundamentalist channels,” pointing out that
 
“the presence of these small traders outside the system puts pressure on the dollar monetary market and causes its rise.”  He pointed out that
 
“there are solutions that we are working on with international and financial institutions in order to organize the trade process of small merchants,” explaining that
 
“a meeting was held yesterday in this regard as a continuation of previous meetings, and
 
we need some time to organize this remaining process of foreign trade.”
 
Regarding other currencies, Al-Alaq confirmed that
 
“the Central Bank opened channels for the Chinese, Turkish, Indian and Emirati currencies, which are currencies that represent a large weight in foreign trade, as
 
there was a pause for a period due to a new regulation aimed at providing adequate control over these operations, because we discovered in the previous formula that there is some fraud in the use of currencies.”
 
These channels are either for unrealistic exporters or for returning sums from one country to another,” he explained, explaining that
 
“a new auditing mechanism has been put in place, carried out by an international company, and
 
we have finished organizing this process and it is now being launched again.”  He pointed out that
 
“all commercial external transfer operations are subject to review by the competent international company, which is an intermediary between the Iraqi banks and the correspondent bank, in order to reassure the correspondent bank that these operations are sound and audited,” pointing out that
 
“some banks have correspondent banks and others do not have correspondent banks.”
 
It is internationally accredited, and now it is seeking to do so, but it is long overdue, and the
 
Central Bank is constantly urging the opening of relationships with correspondent banks, because the Iraqi Bank without external correspondents is considered a local bank and cannot open to the world.”  

He stressed that   “after our banks got to know the banks and realized the importance of these relationships, they began to move against those banks, and the Central Bank, for its part, supports and helps this trend.”   
 
https://observeriraq.net/المركزي-العراقي-يحسم-جدل-إعادة-النظر-ب/