Iraq Parliament Ends Year with No Kurdistan Oil Deal, 15 DEC

Iraq Parliament Ends Year with No Kurdistan Oil Deal

 The Iraqi parliament ended this year’s session without finalizing a deal with the semi-autonomous region of Kurdistan for the exports of crude oil from the northern region.

According to local media, the deal was to be debated last Thursday, along with several other topics, but since then no update regarding any decision on the deal has been issued, suggesting the Iraqi parliament has delayed the final decision on the deal for January when the new parliamentary session will begin.

One report by Shafaq said that the topic of Kurdish oil exports had led to a deadlock among members of parliament who could not reach an agreement about the compensation that Baghdad would owe the Kurdish government for the costs of producing and transporting the oil. The difference of opinion prompted the Kurdish parliamentarians to withdraw from the discussion, effectively ending it.

One of the Kurdish members of parliament told Shafaq that the disagreement centered on the cost of oil extraction in Kurdistan. He also said that to settle the matter, “a specialized international company would visit the KRG's oil fields to assess the cost of oil extraction, in line with the budget law amendment and a political agreement between the two sides.”

Deliveries of Kurdish crude oil have been suspended for over a year amid a dispute between the central government in Baghdad and Turkey over who had the power to authorize these deliveries. The impasse followed an International Chamber of Commerce ruling in March 2023. The ICC ruled in favor of Iraq, which had argued that Turkey should not allow Kurdish oil exports via the Iraq-Turkey pipeline and the Turkish port of Ceyhan without approval from the federal government of Iraq.

The ruling had an impact on international oil companies operating in Kurdistan, which suspended operations until they had clarity on any changes in their terms of operation in the region. There was also a dispute between the government in Baghdad and the one in Erbil over these oil deliveries and who gets to keep the money from their sales on international markets. Most of these have been settled but the deal has yet to be finalized.

DINAR REVALUATION REPORT: IRAQ UPDATE, 15 DEC

IRAQ UPDATE

Summary

Iraq is poised for significant change as Trump’s focus shifts to its security and economic potential, with Sudani planning a new exchange rate to stabilize the economy.

Highlights

• 🌍 Iraq emerges as a key player in Middle East geopolitics.
• 💼 Trump’s renewed interest in Iraq may boost US economic ties.
• 💰 Sudani aims for a new exchange rate to improve Iraq’s economy.
• 📈 A successful budget is crucial for economic stability.
• 🤝 Kurdish regions play a vital role as US allies.
• 🔄 Economic collaboration could lead to regional peace.
• 📢 Public engagement is essential for influencing policy changes.

Key Insights

• 🌟 Strategic Importance: Iraq’s location makes it essential for US interests in countering Iran’s influence, highlighting its geopolitical relevance.
• 🛡️ Security Concerns: The focus on Iraq aligns with combating terrorism, reinforcing its role as a US ally in a turbulent region.
• 🌐 Economic Opportunities: Iraq’s vast oil reserves attract global markets, making it a critical area for investment and economic collaboration.
• 📊 Sudani’s Vision: Sudani’s plans for a new exchange rate signal a potential economic turnaround, making him a pivotal figure in Iraq’s future.
• 🔍  Public Trust: Building public support is crucial for Sudani as he implements changes, emphasizing transparency and communication.
• ⚖️ Learning from Others: Sudani aims to avoid pitfalls seen in other countries by meticulously planning the transition to a new exchange rate.
• 💬 Community Engagement: The importance of public discourse on economic developments underscores how citizen engagement can shape future policies.

REINALDO JC: " Behind the scenes they’re already prepared" @DINARREVALUATION #iraqidinar #iqd

 

TIDBIT FROM MARKZ, 15 DEC

 MarkZ

   [via PDK]   in Iraq: “Central Bank governor opening foreign channels to foreign currencies eliminates the black market” they are talking about partnering with neighboring countries and carry more of a “basket of currencies” so they do not need the US dollar for trade. 

Including Jordan, Saudi Arabia, and different countries around them. 

 They want to split the value of the Iraqi dinar based on gold, oil, reserves and a basket of partnering currencies. This should mean a much higher value for the Iraqi dinar. They are making “real world moves”  to support the value of their currency.

DINAR REVALUATION RV UPDATE: It’ll be harder to get dollar, Look at how close we are !!!! WOW!! #iqd

 

Basra receives a large Arab and foreign diplomatic delegation, 15 DEC

 Basra receives a large Arab and foreign diplomatic delegation

Basra / NINA / - A diplomatic delegation of 146 Arab and foreign diplomatic figures, including Ambassadors and representatives of international organizations, arrived in Basra Governorate this evening, Wednesday, accompanied by Foreign Minister Fuad Hussein.

The local government of Basra has prepared a schedule for the diplomatic delegation's visit tomorrow, starting to the ports and oil fields, to view other strategic and development projects./ End

SANDY INGRAM CC HIGHLIGHTS NOTES, 15 DEC

 SANDY INGRAM CC HIGHLIGHTS NOTES

Summary

Baghdad has been named the Arab Tourism Capital for 2025 by the ATO, promising significant tourism revenue and infrastructure development.

Highlights

• 🎉 Baghdad selected as Arab Tourism Capital for 2025.
• 💰 Potential for millions in tourism revenue.
• 🏛️ Prime Minister Al-Sudani emphasizes infrastructure modernization.
• 🌍 ATO promotes tourism in Arab states since 1954.
• ⚠️ Hope for improved security for Western tourists.
• ⛪ Billions available from religious travelers.
• 📈 Iraq’s historical sites could attract global visitors.

Key Insights

• 🎊 Significant Recognition : Baghdad’s designation as the Arab Tourism Capital is a pivotal moment, showcasing Iraq’s potential in the global tourism market. This recognition can uplift the country’s image.

• 💵 Economic Boost: The influx of tourists could generate millions in revenue, revitalizing local businesses and creating jobs, thus positively impacting the economy.

• 🏗️ Infrastructure Development: Prime Minister Al-Sudani’s focus on improving service standards and infrastructure reflects a commitment to enhancing the tourist experience, crucial for attracting visitors.

• 🌐 ATO’s Role: The Arab Tourism Organization serves as a vital facilitator in promoting tourism across the Arab region, helping countries like Iraq implement successful strategies.

• 🛡️ Security Concerns: Addressing safety issues is essential for attracting Western tourists, which could open the door to a more diverse range of visitors eager to explore Iraq’s rich history.

• 💸 Religious Tourism Potential: With current restrictions in other regions, Iraq stands to gain significantly from religious travelers looking for new destinations, especially in sites like Babylon.

• 📊 Long-Term Vision: This initiative aligns with Iraq’s broader goals of re-establishing itself as a cultural and historical destination, potentially leading to sustainable tourism growth in the future.