RUSSIA: WE WERE ABOUT TO COMPLETE IMPORTANT ENERGY PROJECTS IN IRAQ, BUT THE EVENTS OF 2004 LED TO THEIR SUSPENSION, 16 FEB

 RUSSIA: WE WERE ABOUT TO COMPLETE IMPORTANT ENERGY PROJECTS IN IRAQ, BUT THE EVENTS OF 2004 LED TO THEIR SUSPENSION

Elbrus Kotrashev, the Russian Federation’s ambassador to Iraq, confirmed that the decision to evacuate hundreds of Russian experts from Iraq in 2004 came after Russian teams working in the country were directly exposed to terrorist attacks.

During his interview on the “Qasary Al-Qawl” program with Salam Musafir on RT Arabic, on the occasion of “Diplomats’ Day,” he explained that “these attacks resulted in the martyrdom and injury of a number of experts, including Iraqis, which prompted the Russian authorities to take the decision to evacuate to protect the lives of its citizens.”

“Russian companies were about to complete important projects in Iraq that began before 2003, especially in the energy sector, but the painful security events that occurred in 2004 led to the suspension of these projects and the evacuation of more than 900 Russian experts,” Kotrashev added.

He continued: “After that, there was a long interruption in cooperation due to the turbulent security situation,  but we want to continue the work and complete it successfully, especially since we are witnessing the suffering of the Iraqi people due to the scarcity of electricity.”

Despite these challenges, the Russian ambassador stressed that relations between Baghdad and Moscow, which date back 80 years, are still strong and distinctive at all levels, describing them as going through their most beautiful stages in terms of the level and strength of cooperation. He pointed out that cooperation between the two countries covers multiple fields, including energy, education and culture.

Regarding cultural exchange, Kotrashev expressed Moscow’s desire to open a Russian cultural center in Iraq, as it was during the Soviet era, explaining that the delay in this step is due to logistical reasons, not political or economic. He also spoke about educational cooperation between the two countries, noting that the number of Iraqi students in Russian universities ranges between 2,500 and 4,000 students.

Regarding cooperation in the energy sector,  the ambassador pointed out that Russian investments in the Iraqi oil and gas sector amount to about $20 billion, and may be more. He stressed that Russia leads oil investments in Iraq, surpassing the United States and China, expressing his optimism about the possibility of expanding these investments in the future.

Regarding the possibility of a visit by a senior Russian official or President Putin to Iraq, Kotrashev said: “I hope the visit will be great, and I expect a warm welcome from the Iraqi government and people, but I do not know if it will happen soon because the president is busy with domestic and international issues.”

TIDBIT FROM FRANK26, 16 FEB

 Frank26 

 You want to find out every perk, everything that they're going to do for you.  First of all, how are  you going to exchange my currency? 

 Are you going to charge me a fee to exchange it?  They'll tell you, yeah, 1%, 2%, 3%.  Wait a minute, before we even go any further, I got to ask you a question, do you think it's fair for you to charge me to exchange this  currency when I'm going to put it in your account and you're going to make money with it right away? 

 Aren't you making money off  my money?  And then you may freeze my account for 30 days...You want to charge me for putting it in your bank?  I tell you what,  I've got one or two options.

  I'm either going to say goodbye to you right now and go to another bank and see what they got to offer me or you're going to pick up the phone and drop those charges for me right now.  It's that simple Mr. Bank officer.  They're  going to fire back at you that these are corporate rules and regulations.  Yeah, they can be changed because I got a lot of currency.  Do you want my business or not?  

FIREFLY:If citizens would just bring in their dinars we will enhance our country and do so much more

 

ANTI-MONEY LAUNDERING OFFICE: IRAQI AUTHORITIES FACE DIFFICULTY TRACKING DIGITAL TRANSACTIONS, 16 FEB

 ANTI-MONEY LAUNDERING OFFICE: IRAQI AUTHORITIES FACE DIFFICULTY TRACKING DIGITAL TRANSACTIONS

The Deputy Director General of the Anti-Money Laundering and Terrorist Financing Office in Iraq, Hussein Al-Maqram, announced that the Iraqi authorities are facing difficulty in tracking digital transactions.

Al-Maqram said that the office is still working on updating the legal and legislative framework to meet emerging challenges.

He added, “Iraq is a critical area and is vulnerable to the growth of money laundering operations due to its heavy reliance on cash transactions in commercial transactions and slow progress in electronic payment operations, not to mention that the sales of the Central Bank of Iraq remain close to $300 million per day, which is a large number compared to the volume of goods entering Iraq.”

Al-Maqram said, “In light of these challenges, the relevant authorities in the Republic of Iraq are following several strategies to combat money laundering and terrorist financing using virtual currencies, including continuous cooperation and coordination with banking and non-banking financial institutions and reporting transactions of unknown origin, as well as preparing joint committees from relevant government agencies for the purpose of tracking down those dealing and speculating in them.”

(Am I missing something here. Isn’t the foreign correspondent banks providing the dollars for payment for imports. They told us that dinars are sent to these banks in other countries, they then convert to dollars and make the payments directly.

 No more currency auctions in the CBI.

  So, why in this article are they telling us about sales of the Central Bank of Iraq remain close to $300 million per day? 

These dollars no longer come out of the reserves. 

Also, this article tells us there is still a heavy reliance on “cash transactions”.

 What about all this electronic transfer stuff we have been reading about? 

Are they just bullshitting us? 

Why is there still so much cash being used for foreign business? 

But this goes hand in hand with the three zero notes as I told you there will still be a need to have these larger notes for foreign trade even after the Project to Delete the Zeros is completed.

 We also have to think about all the countries that have the three zeros notes now in their country’s foreign reserves.

 So these older three zero notes are  not going away. Ours will be valuable! )

IRAQI ECONOMY STATUS UPDATE, 16 FEB

 IRAQI ECONOMY STATUS UPDATE

Highlights

• 📈 Iraq’s Economic Reforms: The Iraqi government is advancing financial reforms to restore the Dinar’s value.
• 🔍 Transparency Improvements: Iraq improved its ranking in Transparency International’s corruption perceptions report, indicating progress in governance.
• 💰 Rising Gold Reserves: Iraq has climbed the global ranks in gold reserves, now 28th among 100 nations.
• 💸 Dramatic Currency Fluctuations: The IQD recently saw a spike, with 1 million IQD suddenly valued at $14,000, indicating potential economic turnaround.
• 📊 Investment Opportunities: The recent fluctuations suggest a growing interest among investors in the IQD, potentially leading to economic growth.
• 🔄 Currency Simplification: The concept of deleting zeros from the currency is discussed as a means to stabilize the economy and improve purchasing power.

Key Insights

• 📉 Economic Reform Impact: The Iraqi government’s commitment to financial reforms is crucial for restoring confidence in the Dinar. This effort is seen in the approval of controversial laws that are now expected to facilitate economic growth. The focus on lifting purchasing power reflects a strategy to increase consumer spending and investment.

• 💼 Investment Climate Shifts: The sudden spike in the IQD’s value has created a buzz in the investment community. If this upward trend continues, it may attract foreign investments, which could lead to job creation and infrastructure development. The potential for the IQD to appreciate dramatically offers a unique opportunity for early investors.

• 🏆 Transparency as a Growth Factor: Iraq’s improved ranking in the corruption perceptions report is significant. Transparency in governance can lead to better financial practices, reducing corruption, and fostering an environment conducive to investment. This progress is essential for long-term economic stability.

• ⚖️ Gold Reserves Significance: Iraq’s increased position in global gold reserves reflects a strengthening of its economic fundamentals. Gold is often viewed as a safe-haven asset, and an increase in reserves can bolster investor confidence in the Dinar and the overall economy.

• 📉 Fluctuations in Currency Value: The fluctuations in the IQD’s value, particularly the dramatic increase, indicate a potential shift in the financial landscape of Iraq. These changes can serve as precursors to more stable and predictable currency movements, which can encourage both local and international investment.

• 💵 Purchasing Power Restoration: The transition to a more stable currency system by deleting zeros can significantly enhance purchasing power for everyday Iraqis. By simplifying the currency, the government aims to reintegrate cash into the banking system, which can stimulate economic activity and consumer spending.

MZ: I think it’s the calm before the storm! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

Green Oil ... A Basic Pillar For Achieving Food Security, 16 FEB

 Green Oil ... A Basic Pillar For Achieving Food Security

 
Economic 2025/02/13   Baghdad: Imad of the emirate  It is dependent on the achievement of food security by
 
     improving the performance of the agricultural sector and the
     stimulation of industries, especially those that depend on agricultural and animal products, such as the
     manufacture of tomato paste, jams and dairy, and the production of meat, lumbar and woolen textiles, and leather industry, in a way that achieves the principle of integration between the sectors (industry and agriculture) as the most important sectors in increasing national income And his permanence.

In order to reach this goal, the  government encourages the private sector to  establish agricultural / industrial complexes or what is called "green oil".  

The former Undersecretary of the Ministry of Agriculture, Dr. Mahdi Al -Qaisi, said:
 
Food manufacturing includes a group of industries that all depend on plant and animal agricultural products and marine and fish products, usually
 
food manufacturing is that it is one of the most prominent pillars of food security.
 
Al -Qaisi added, in an interview with "Al-Sabah", that the
 
increase in plant agricultural production and livestock in quantity and quality contribute to the advancement of food manufacturing outputs by
 
providing the initial material necessary for this industry and
upgrading various preservation and manufacturing operations such as canning, drying, freezing, fermentation, etc., indicating that the
 
food industry aims to obtain On a product that meets the consumer's desires and ensures its health and nutritional quality.
 
Absorbing the Surplus
 
Regarding the goals of preserving and manufacturing food, Al -Qaisi explained that it is the
 
conservation as much as possible for its natural characteristics
     away from pollution and
     changes that occur in their quality during storage and circulation, and to
     absorb the surplus of crops and agricultural products and
     manufacture them to find a balance between supply and demand and price stability, which
 
encourages farmers to produce more and at a continuous pace. He pointed out that
 
Food Manufacturing
 
     maintains agricultural  crops from damage and
     prolonging their treasury life, and
     contributes to absorbing unemployment and
     creating many and varied areas of work.

Al -Qaisi pointed out that lunch
 
manufacturing is the optimal investment of agricultural raw materials and obtaining secondary products from manufacturing operations that constitute an added economic value, noting that
 
this reflects the change of the consumer food pattern, which reflects on
     reducing waste and losing food and
     achieving economic feasibility
 
to face accelerated population increases and the increasing rise in food prices Globally.
 
Manufacturing Activities
 
And on the process of upgrading food industries in Iraq, between the agricultural expert: that the food industries sector in Iraq is exposed to a relatively long long period of time to stop in a number of factories and manufacturing activities for several reasons, the most prominent of which is commodity dumping, so it requires serious consideration in the issue of supporting and upgrading national food industries
 
To take its true position in food and economic security.
 
Industrial Crops
 
For his part, economic affairs specialist, Dr. Ahmed Al -Rawi, stated that
 
Iraq is one of the agricultural countries that are characterized by the production of crops that can be manufactured such as dates, diabetic beets, sesame and vegetables, again the
 
call for a number of industries that depend on these crops, which encourages farmers to demand the cultivation of industrial crops It helps its development. Al-Rawi told Al -Sabah:
 
The entry of agricultural products in manufacturing leads to the withdrawal of the surplus of agricultural crops at the time of the peak of its productive season, which maintains their prices from landing, usually  food security for any country as part of its national security, and that
 
one of the procedures for supporting food security is is The establishment of advanced food industries helps to provide the individual-made foods, especially in times of environmental disasters, wars and crises.  https://alsabaah.iq/110110-.html