Representatives Joe Wilson of South Carolina who is a Republican and Jimmy Panetta a Democrat from California introduced a bill called the Free Iraq From Iran Act...
The bill will need to go to the Senate and then be signed by the president. You as IQD investor want to understand this bill because it is a game changer.
The first thing the bill calls for dismantling Iran backed militants within Iraq's borders, including the PMF Popular Mobilization Forces. This is all set to end Iran's dominance in Iraq's political system.
The Iraqi Ministry of Oil declared two agreements between two American energy companies and the Kurdistan Regional Government of Iraq "null and void" due to their failure to obtain federal approval.
The World - Correspondents
The tense relationship between Baghdad and Erbil has once again come to the fore after the Kurdistan Region of Iraq signed two massive gas field development agreements with two American companies worth more than $110 billion. This move sparked widespread political and legal controversy and brought to the fore an old question: Who owns the decision-making power over Iraq's resources?
Political analyst Naseem Abdullah told Al-Alam TV: "The Iraqi constitution states in Articles 110, 112, and 121 that the management of oil resources is a joint management between the region and the federal government. This provision is explicit, as the 2005 constitution stated that these resources are managed jointly by the region and the federal government. Currently, the region has violated the constitution through its unilateral management, which constitutes a breach of it."
The agreement, announced by the Prime Minister of the Kurdish region, Masrour Barzani , includes the development of massive oil and gas reserves in the Mizan, Topkhana, and Kordemir fields, potentially transforming Kurdistan into a regional energy hub. However, Baghdad, through the Ministry of Oil, quickly declared the agreement invalid, asserting that it violates the constitution and a ruling by the Federal Supreme Court.
Law professor Mohammed Adiq told Al-Alam TV: "Regarding the relationship between the Kurdistan Regional Government and the federal authorities, it is governed by Articles 110, 114, and 112. Therefore, the expired Kurdistan Regional Government must partner with the federal government in managing oil and gas and concluding oil contracts."
On the other hand, Erbil believes its actions are legal and within its jurisdiction, citing the absence of a federal law regulating the oil and gas sector. It asserts that the revenues will benefit both Kurdistan and Iraq.
Kurdish political analyst Hussein Al-Jaf said, "What happened is not a new contract, but rather the transfer of ownership of the project, which was operating in oil, from Kurdistan to another company. Therefore, there is no such thing as a renewed contract."
This sharp contrast raises a highly complex legal and political issue. While Baghdad champions sovereignty over resources, Erbil asserts that it is exercising a constitutional right that is absent from the national agreement.
The relationship between Baghdad and Erbil remains hostage to intense disagreements over resource management, with Baghdad insisting on centralized decision-making and Erbil insisting on its constitutional rights. The absence of a national agreement is evident, making every crisis a renewed conflict between Baghdad and Erbil. link
Kurdistan Showcases Investment Opportunities at Paris Forum
The Kurdistan Region is showcasing its investment potential at the French-Iraqi Economic Business Forum currently underway in Paris, with top officials encouraging French investors to explore opportunities in key sectors.
Mohammed Shukri, Head of the Kurdistan Region’s Investment Board, addressed a panel during the event, highlighting the Region’s supportive investment environment.
He emphasized the availability of promising opportunities in the industrial, agricultural, tourism, and energy sectors.
“Now is the time for foreign investors, particularly our French partners, to engage with the Kurdistan Region’s growing economy,” Shukri said, according to a statement released by the Investment Board.
The statement noted that several foreign investors, particularly French businesspeople, expressed readiness to visit the Kurdistan Region to explore investment opportunities firsthand and potentially boost France’s economic footprint in the area.
More than 300 foreign investors and businesspeople—mostly French—are attending the forum, underscoring France’s continued interest in Iraq’s and the Kurdistan Region’s economic landscape.
This event builds on momentum from last year’s first French-Kurdistan Economic Forum, also held in Paris.
The gathering was organized in coordination with the Kurdistan Regional Government’s Investment Board and MEDEF, France’s largest business federation, to strengthen bilateral economic ties and attract more French investment to the Region. link
MZ: Well last week they told me they finished their final paperwork and were just waiting on funds….so that’s different
Member: Lets hope its strict NDA’s and we are very close.
Member: Mark. heard the rumor Bonds are waiting for their money. they are all done 4a is also done
Member: some people are saying the RV went through. I don’t believe it unless I see it with my own eyes. Could they be hidingit from the whole world?
MZ: yes keep waiting until you see it with your own eyes. No I don’t think they could hide it.
Member: Mark, I did catch a screenshot of my currency converter this AM with IQD at 1.19 USD before they changed it back.
MZ: What I learned over the “FX-VU Strategic Release memo- $4.8101 IQD Anchor and Post Forex Convergence” screenshot (shows a picture of the article) so far is it is not a government article. But it does represent a researchers tremendous amount of work
MZ: It has led to us tracking down other things that are pointing at it. There are many indicators towards this. My hat is off to whoever did this research. There is supporting evidence that they may be dead on concerning the rate projection…which has me very excited.
MZ: Somebody may have spent hundreds of hours putting this together. My researchers are still looking at it and it has opened up ways to go in different directions with this. .
Member: TNT mentioned the rate could be $4.81 a couple of weeks ago.