Monday, March 10, 2025
US Ambassador to Iraq: Importing natural gas outside the sanctions system, 10 MARCH
US Ambassador to Iraq: Importing natural gas outside the sanctions system
Economy News _ Baghdad
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed on Sunday that the Iraqi government is serious about achieving independence in the field of energy, while the ChargĂ© d’affaires of the US Embassy to Iraq, Daniel Rubinstein, pointed out that the import of natural gas is outside the sanctions system.
A statement from the Finance Committee, received by “Economy News”, said that “the Chairman of the Finance Committee Atwan Al-Atwani, received on Sunday, the ChargĂ© d’Affaires of the US Embassy to Iraq, Daniel Rubinstein and the accompanying delegation,” noting that “the meeting discussed ways to enhance joint cooperation between Iraq and the United States of America in terms of managing and developing the work of the financial and banking sector.”
He added that “the meeting focused on discussing the file of US sanctions and the extent of their impact on the electricity sector, especially in light of the talk of the expiration of the deadline for exempting Iraq from the import of Iranian gas.”
According to the statement, Al-Atwani stressed “the importance of this visit at this sensitive time, and stressed the need for permanent communication to correct the course of Iraqi-American relations,” carrying “the embassy d’affaires an important message to the government of his country that stopping the import of gas will be catastrophic consequences for the Iraqi people, especially in the summer, as it will cause the collapse of the national electricity system, because there are no alternatives at the moment.”
He pointed out that “the Iraqi government is serious about achieving independence in the field of energy through many promising projects with regard to the investment of associated gas, for the purpose of using it in the generation of electricity and in a way that achieves self-sufficiency, but these projects will enter service in the coming years.”
He called on “the US administration to review the policy of pressure exerted by the US Treasury on the financial and banking sector in Iraq by imposing continuous sanctions on local banks.”
He stated that “Iraq has achieved a paradigm shift in the policy of compliance and financial transfers, and yet we are surprised by collective sanctions targeting Iraqi banks without prior warning and without announced justification or even notifying the Central Bank of Iraq of this, and this created a big problem for us, and affected the work and activity of the banking sector.”
For his part, Rubinstein expressed his understanding of what Al-Atwani put forward during the meeting regarding the energy files and banking sanctions, and promised to convey these messages to his country’s government in the hope of finding permanent treatments and solutions in the interest of the two friendly peoples,” pointing out that “the import of natural gas is so far outside the sanctions system.”
DINAR EXCHANGE UPDATE: PROTEST MOVEMENTS WITHIN IRAQ FOR EARLY ELECTIONS, 10 MARCH
DINAR EXCHANGE UPDATE: PROTEST MOVEMENTS WITHIN IRAQ FOR EARLY ELECTIONS
As of early 2025, there has been growing speculation and calls from various political factions and protest movements within Iraq for early elections.
These calls stem from dissatisfaction with the current government, ongoing political instability, and economic challenges,
including issues surrounding corruption, poor public services, and economic hardship exacerbated by the declining value of the Iraqi dinar.
Advisor to the Prime Minister: Investment boosts economic growth and keeps Iraq away from oil price fluctuations, 10 MARCH
Wawazine News – Economy
The Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Sunday that foreign investment is an important step towards enhancing economic growth in Iraq, and isolates the country from the fluctuations of the oil asset cycles and the problems of oil price volatility, explaining that linking the international economy to the Iraqi economy contributes to achieving sustainable economic growth, based on the indicators of the National Development Plan 2024-2028.
Saleh said in a statement to the official agency: “The flow of foreign investments to Iraq means the development of linking international economic activity to the country’s productive economy, which enhances the environment that encourages investment thanks to Iraq’s goods and material and human resources.”
He added that this linkage contributes
to enhancing economic growth in accordance with the development plan, which aims to diversify the national economy, stressing that foreign direct investments contribute to the introduction of advanced technology and improving organizational and administrative thought, which leads to reducing unemployment, increasing job opportunities and improving the level of income in the country.
Saleh pointed out that foreign investment has a major role in developing infrastructure in many vital sectors such as electricity, energy, transport, communications and information technology, and it also contributes to protecting the national economy from economic fluctuations that affect the oil sector.
Saleh concluded his statements, stressing that the benefits of foreign investment are clearly embodied when this investment is integrated into the local labor market, which maximizes the economic benefit and increases the employment of the local labor force, thus contributing to strengthening the movement of the national economy.
https://mawazin.net/Details.aspx?jimare=260064
TIDBIT FROM MILITIAMAN, 10 MARCH
Militia Man
The informal market are now feeling the pinch because they're having a harder time to get the dollar...
They're going to have to pay a lot more for it...
You can go to the central bank and get it for 1320 instead of 1460, 1500, 1600...but it's probably going to climb. Are we concerned about it? No. Because the parallel market is insignificant in comparison to the total market...It's about 5%
. 95% of the people that are doing business are doing it properly which is huge.
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