Friday, April 11, 2025
US Affirms: ’It is Critical’ for Iraq to Agree to Resume Kurdish Oil Exports, 12 APRIL
US Affirms: ’It is Critical’ for Iraq to Agree to Resume Kurdish Oil Exports
WASHINGTON DC, United States (Kurdistan 24) – State Department Spokesperson Tammy Bruce made an extremely strong statement on Wednesday in support of the resumption of Kurdish oil exports.
They have been suspended since March 2023, as the result of an adverse ruling from the International Chamber of Commerce. At various times, it seemed they would be resumed, but they remain blocked.
Thus, as Bruce advised Kurdistan 24, “It is critical that the Government of Iraq and all potential parties agree to restart the Iraq-Türkiye Pipeline’s [ITP] operations.”
Bruce’s remark represents the strongest U.S. statement on the need to resume Kurdish oil exports, since the Association of the Petroleum Industry of Kurdistan (APIKUR) complained that Baghdad was unilaterally reneging on the terms of the contract governing Kurdish oil exports.
That occurred in late March, some two weeks ago, when APIKUR issued a statement detailing how Baghdad was acting in bad faith.
Read More: APIKUR Rejects Iraq’s Oil Ministry Approach, Refuses to Resume Exports
Indeed, in her statement on Wednesday, Bruce stressed that “the Government of Iraq must honor the terms of existing contracts with U.S. companies,” as she expressed formal U.S. support for APIKUR’s position.
Bruce’s remarks came in response to a question from Kurdistan24’s Washington DC bureau chief, Rahim Rashidi.
At a State Department press briefing on Tuesday, Rashidi addressed a question to Bruce. He noted APIKUR’s complaint about Baghdad unilaterally changing the terms of the contract and asked her for the U.S. response.
Bruce “took” the question, meaning that she would look into the issue and provide a response later. And that is what her office did, when it emailed her answer to Rashidi on Wednesday.
In her response, Bruce also noted the harm that Iraq is doing to itself by its failure to move in a timely fashion to restore the Kurdish oil exports.
“The pipeline’s two-year closure stifles Iraq’s economic development, inhibits the region’s economic stability, and threatens the American energy jobs which this pipeline supports,” Bruce said.
“The United States stands ready to advance U.S. business opportunities in Iraq, if all sides move quickly to resolve the issue and immediately reopen the pipeline,” she added, as she concluded, “The ITP plays a critical role in sustaining the energy economy of the Iraqi Kurdistan Region and benefits the American companies that operate there.”
kurdistan24.net
🚨🚨IQD RV🚨🚨🚨 : ELECTRONIC SYSTEMS COMPLETE!!, 12 APRIL
IQD RV
ELECTRONIC SYSTEMS COMPLETE
IMPLEMENTATION OF RATE CAN NOW PROCEED WITH THESE PROCEDURES AND PROGRAMS IN PLACE
Court Rulings Satisfied
completion of the electronic system specialized in managing and archiving foreign litigation files, which includes lawsuits, international arbitration cases, and foreign lawyers' fees
ensuring accuracy and efficiency in preparing legal responses and reports
completion of this system is the culmination of a series of significant achievements in the field of foreign litigation
The Ministry of Justice announced today, Thursday, the completion of the electronic system specialized in managing and archiving foreign litigation files, which includes lawsuits, international arbitration cases, and foreign lawyers' fees.
IMPLEMENTATION OF RATE CAN NOW PROCEED WITH THESE PROCEDURES AND PROGRAMS IN PLACE
Court Rulings Satisfied
completion of the electronic system specialized in managing and archiving foreign litigation files, which includes lawsuits, international arbitration cases, and foreign lawyers' fees
ensuring accuracy and efficiency in preparing legal responses and reports
completion of this system is the culmination of a series of significant achievements in the field of foreign litigation
The Ministry of Justice announced today, Thursday, the completion of the electronic system specialized in managing and archiving foreign litigation files, which includes lawsuits, international arbitration cases, and foreign lawyers' fees. This comes as part of implementing the directives of Prime Minister Mohammed Shia al-Sudani, aimed at consolidating digital transformation and developing institutional performance, as part of the government's administrative reform program.
This achievement represents a qualitative shift in the Ministry's work and reflects its commitment to modernizing the legal and technical infrastructure for handling foreign lawsuits.
The new system contributes to standardizing procedures, expediting access to data, and ensuring accuracy and efficiency in preparing legal responses and reports. This enhances Iraq's legal standing and protects its interests before judicial bodies and international courts.
The Ministry affirmed that the completion of this system is the culmination of a series of significant achievements in the field of foreign litigation.
No legal losses have been recorded during the current government's tenure, thanks to the direct monitoring and continuous supervision of His Excellency the Minister of Justice, Dr. Khaled Shawani, who attaches great importance to this issue, given its importance in safeguarding national sovereignty and preserving the legal rights of the Iraqi state.
Ministry of Justice Media
April 10, 2025
On the recommendations of the Prime Minister.
The Department of Justice is completing an electronic system for managing and archiving foreign litigation cases.
The Ministry of Justice announced the completion of an electronic system for managing and archiving foreign litigation cases, including arbitration cases, and international arbitration cases and foreign lawyers’ fees.
The move comes in line with the recommendations of Prime Minister Engineer Mohammad Shia Sudani, aimed at consolidating digital transformation and developing the institutional mandate, as part of the government’s program of administrative reform.
This achievement is a qualitative change in the Ministry's work and reflects its commitment to modernize the legal and technical infrastructure specific to the investigation of foreign litigation cases It protects international judicial institutions and courts.
The Ministry stressed that the completion of this system is part of a series of important achievements in the field of foreign prosecution, because no judicial defeat has been recorded during the life of this government in the laws of the Iraqi state.
Government bank launches service to combat money laundering and terrorist financing, 11 APRIL
Government bank launches service to combat money laundering and terrorist financing
Economy News – Baghdad
Rafidain Bank announced on Friday the launch of the Internet Banking Service (OBDX Online Banking Digital Experience) after activating the Anti-Money Laundering (AML) systems and the (GOAML Government Online Anti-Money Laundering) system, stressing that the service has been successfully activated in a number of government agencies
The bank explained in a statement received by “Economy News” that this decision comes within the framework of the bank’s strategy to provide a safe banking environment and adhered to the latest international standards to combat money laundering and terrorist financing, as well as facilitating electronic financial transactions for government entities.
The statement added that the OBDX service represents a qualitative leap in the way banking transactions are conducted, as it allows government entities to access their accounts and conduct all their banking operations easily and safely online, indicating that this service helps to speed up operations and reduce reliance on paper procedures, which contributes to improving efficiency and enhancing transparency.
According to the statement, in parallel with the launch of the OBDX service, Rafidain Bank activated the Anti-Money Laundering (AML) and GOAML systems to ensure full compliance with international standards for combating money laundering and terrorist financing.
The bank explained that the AML system automatically monitors financial transactions and analyzes suspicious patterns, while the GOAML system records and analyzes bank data to ensure that it is not used in illegal activities.
Advantages of the OBDX service supported by compliance systems:
1. Superior security: Integrated systems ensure full compliance with international standards, which enhances the security of financial transactions.
2. Global Compliance: The Bank ensures the highest levels of transparency and compliance with international anti-money laundering laws.
3. Accessibility: It enables government entities to conduct financial transactions easily and securely online without the need to visit branches.
Raising efficiency: Reduce traditional procedures and accelerate transactions while ensuring respect for global financial laws and policies.
https://economy-news.net/content.php?id=54330
ARIEL: A Financial Liberation Milestone for Iraq, 11 APRIL
ARIEL
A Financial Liberation Milestone for Iraq
Iraqi Dinar Update:
Supreme Court Ruling – A Financial Liberation Milestone
On April 10, 2025, the Iraqi Federal Supreme Court issued a landmark ruling that obliterates financial barriers for the Kurdistan Region, mandating uninterrupted salary payments to KRI employees directly from the Federal Ministry of Finance a decision that secures the release of the 2025 budget without delays.
This ruling, initiated by the President of the Republic, enforces a continuous payment mechanism, s*******g away excuses like “technical issues” or “trial balances,” and ensures coordination between the Federal Ministry and KRG’s Ministry of Finance to align with Central Bank of Iraq settlement protocols, even allowing employees to choose their preferred banks.
For Dinar holders, this is a seismic shift: the court’s order to amend Article 12, Paragraph (c) of the 2023 Budget Law forces KRG to contribute oil revenues to the federal treasury, signaling a unified fiscal structure that could stabilize the Dinar’s value, potentially paving the way for a 1:1 or 3:1 (or higher) exchange rate by ensuring Iraq’s economic cohesion.
Budget Ratification – The Trigger for RV/RI Activation
The Supreme Court’s decision, coupled with late March 2025 progress on salary disbursements, indicates the 2025 budget was likely ratified between March 25 and April 5, 2025, setting the stage for an imminent
Revaluation/Reinstatement (RV/RI) of the Iraqi Dinar projected to activate between April 15 and May 31, 2025, with a slight chance of extending to early June if ratification lagged to early April.
This timeline is critical because the court’s removal of salary payment obstacles eliminates a key bottleneck that has historically suppressed Iraq’s financial reforms, allowing the budget to flow freely and fund economic restructuring vital for a currency reset.
Dinar holders should see this as a green light: a ratified budget, backed by judicial muscle, means Iraq is operationally ready to revalue its currency, potentially delivering the long-awaited 1:1 or 3:1 rate as global confidence in Iraq’s fiscal stability surges.
CBI International Card Rules – A Global Financial Reentry
On April 8, 2025, the Central Bank of Iraq rolled out new regulations for international bank card usage, a move that positions Iraq as a reemerging player in global finance effective immediately with a 30-day activation delay for new cards, setting transaction limits like $10,000/month for retirees, $20,000/month for travel, and $50,000/month for medical treatment abroad.
The CBI’s directive, targeting banks, non-banking financial institutions, and electronic payment firms, ensures compliance across Iraq’s financial ecosystem, with foreign currency available at the official rate via an e-governance system a clear signal of currency stabilization efforts.
For Dinar holders, this is electrifying: international transaction limits and official rate access suggest the CBI is preparing for a stronger Dinar, likely aligning with a 1:1 or 3:1 (or higher) exchange rate to facilitate seamless global trade and boost investor trust in Iraq’s economy.
Strategic Implications – Why This Changes Everything
The convergence of the Supreme Court’s ruling and CBI’s international card rules marks a pivotal moment for Iraq’s economic sovereignty, directly impacting Dinar holders by accelerating the RV/RI timeline mid-April to late May 2025 is now a high-probability window for activation, driven by the court’s enforcement of fiscal unity and the CBI’s global financial integration.
The court’s mandate to integrate KRG oil revenues into the federal budget ensures a revenue stream that can back a revalued Dinar, while the CBI’s structured limits on international transactions (e.g., $20,000/month for merchants) demonstrate Iraq’s readiness to handle increased currency demand without inflation spikes.
For those holding Dinar, this dual action is a clarion call: Iraq is dismantling its financial silos, aligning its economy for a currency reset that could deliver the 1:1 or 3:1 rate, transforming your investment into a historic windfall as Iraq reclaims its place on the world stage.
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