Frank26
Article: "Confirming Shafaq News.. Trump is heading to impose sanctions on Iraqi groups"
Notice that you didn't say Iraqi banks no no no. Is he going to put sanctions on Iraqi government?
No. No. No.
Is he going to put sanctions on the CBI ?
No. No. no.
Who's he putting sanctions on? Iraqi groups, Framework...Maliki's militia...Iranian politicians in parliament...
Oil Price: Washington pressured Baghdad on Kurdistan oil to limit Iran’s exports
The American energy-based oil press website published on Friday a report on the resumption of oil pumping from the Kurdistan Region, stressing that Washington pressured Baghdad for this, to reduce Iranian oil exports.
According to the report translated by Shafaq News, “despite the Iraqi federal government’s assurances that the resumption of oil exports from Kurdistan is imminent, foreign oil companies operating in the region said they will not resume oil exports today.”
The report noted that “oil exports from Kurdistan have now been suspended for nearly two years, after being stopped since March 2023 due to the dispute over who should allow Kurdish exports.”
He explained that “the companies that are members of APIKUR for the export of oil from the region are ready to resume exports immediately once formal agreements are reached to provide guarantee of payment for previous and future exports in accordance with the current legal and contractual terms.”
The report said that “foreign oil producers in Kurdistan want agreements and firm guarantees before resuming exports, while Baghdad is under pressure from the United States to allow the supply of Kurdish supplies to the market, as the Trump administration is looking to impose a significant reduction in Iranian oil exports as part of the “maximum pressure” campaign.
Eight international oil companies operating in the Kurdistan Region announced on Friday that they would not resume oil exports through the Turkish port of Ceyhan despite Baghdad’s announcement of the imminent export resumption.
The Kurdistan Petroleum Industry Association (Abecor), which represents 60% of the region’s production, said that “no official contacts have been made to clarify trade agreements and guarantees of payment for past and future exports.”
Earlier on Friday, Deputy Prime Minister for Energy Affairs and Minister of Oil, Eng. Hayyan Abdul Ghani, announced the start resumption of Kurdistan Region oil exports through the Turkish port of Ceyhan in the coming hours, in a statement he made on the sidelines of his visit to the port of Khor Al-Zubair to see the operations of connecting the gas pipe, and quoted by the Ministry of Oil in a statement.
https://www.shafaq.com/ar/سیاسة/ويل-برايس-واشنطن-ضغطت-على-بغداد-بش-ن-نفط-كوردستان-لتحجيم-صادرات-يران
Chapter Summary: The Current Landscape of Iraq’s Monetary Reform and Economic Developments
The ongoing discussions surrounding Iraq’s economic transformation and the monetary reform led by the Central Bank of Iraq (CBI) are of paramount importance to both local and international stakeholders.
This chapter encapsulates the insights gleaned from recent updates shared by prominent figures and sources within the Iraqi financial system. Key concepts such as exchange rates, oil exports, and US sanctions are critical to understanding the broader implications of these developments.
The focus of this discourse is on the evolving banking landscape, particularly regarding Iraq’s international status, currency valuation, and the intricate relationship with the US Treasury.
In summary, the current trajectory of Iraq’s monetary reform and economic development is marked by significant meetings, burgeoning oil exports, and looming sanctions. The interplay of these factors shapes the landscape of Iraq’s banking sector, with potential shifts in the exchange rate on the horizon.
The recognition of the National Bank of Iraq serves as a reminder of the importance of maintaining high standards in financial practices. As Iraq navigates these challenges, the emphasis on security and stability will be crucial in determining the success of its economic ambitions.
The implications of these developments are profound, not only for Iraq’s internal economy but also for its international relationships and standing in the global market.
APIKUR welcomes US support for Kurdistan Region oil exports
ERBIL (Kurdistan24) – The Association of the Petroleum Industry of Kurdistan (APIKUR) on Thursday in a statement welcomed US Secretary of State Marco Rubio’s efforts to facilitate the resumption of oil exports from the Kurdistan Region. Rubio reaffirmed US support for restarting exports in a call with Iraqi Prime Minister Mohammed Shia al-Sudani on Feb. 25, emphasizing the need to reopen the Iraq-Turkey Pipeline and uphold contractual terms for US companies operating in Iraq.
The prolonged closure of the pipeline since March 2023 has significantly impacted the Kurdistan Region’s economy, depriving it of a key revenue source and hampering international trade. The shutdown has resulted in an estimated loss of $27 billion in revenues for the Kurdistan Region, Iraq, and APIKUR member companies, while also creating market uncertainty and affecting regional stability.
APIKUR noted that recent statements from senior officials in Baghdad and Erbil suggest that oil exports could resume imminently. The association reaffirmed that its member companies are prepared to restart exports immediately once formal agreements are established to ensure payments for past and future exports are in line with existing contractual and commercial terms. However, APIKUR stated that no outreach had yet been made to its member companies regarding such agreements.
The legal standing of APIKUR’s contracts with the Kurdistan Regional Government (KRG) was recently upheld by Iraqi appellate courts. Additionally, a key amendment to Iraq’s 2023-2025 budget law has provided a legal and political framework for resolving the dispute and securing agreements to resume exports.
APIKUR is committed to promoting the Kurdistan Region as an attractive destination for international oil and gas companies, service providers, and investors. The association advocates for the common interests of its members, serves as a unified voice in industry-related matters, and provides a platform for sharing public industry information and best practices.
Kurdistan24.net
EXCERPTS FROM MARKZ
MZ: I had one historic bond contact check in who said they still expect their payout this month. Wait a minute…..today is the last day of February. Hope that turns out to be accurate. But tons of folks are expecting dollars over this weekend.
MZ: I am still looking for a update on the group side which I do not have
MZ: But one Wealth management/redemption center contact told me they will be working both days this weekend. I don’t know what this means or what they will be doing…..but they are working a full day on Saturday and a half a day on Sunday.
Member: Mike Bara claimed yesterday Bond holders cashing out in Zurich & Reno.
MZ: I think we could see “In the coming days” bond money moving….maybe over the weekend….and then possibly see currency movement . I hope to have a group update over the weekend.
Member: How great would that be!!!!
MZ: If group chatter picks up I would feel really good about the next 4 or 5 days.
Iraq has not submitted any formal request for a new loan facility from the International Monetary Fund (IMF), the Financial Advisor to the...