Iraq’s Defense Committee backs Global Coalition presence

 Shafaq News/ On Saturday, Iraq’s parliamentary Committee of Security and Defense affirmed the need for the continued presence of the US-led Coalition to provide aerial support amid growing regional security threats.

The committee member Yasser Iskander Watout told Shafaq News that Iraq requires substantial logistical and air assistance to secure its airspace, as its current capabilities are insufficient to monitor shared borders with neighboring states.

He also explained that recent contracts to procure 14 modern aircraft “do not cover the full needs,” stressing the importance of allocating a dedicated budget to support the Ministry of Defense and strengthen the air force with new qualified personnel.

Watout also noted that efforts by the Ministry of Interior and the Border Guard Command, supported by other security forces, have succeeded in tightly securing the border strip with Syria. 

In an interview with Al-Arabiya, Minister al-Abbasi stated that the Coalition’s presence in Syria is “necessary,” confirming that Baghdad has not received any official notification of changes to the Coalition’s withdrawal timeline or of any request to increase the number of US troops.

The statement follows ongoing discussions between Baghdad and Washington through the Joint Higher Military Commission, established in 2023 to define the future of the US military presence in Iraq.

In early 2020, Iraq’s parliament voted to require the government to establish a timetable for ending foreign military presence, following the US strike that killed Quds Force commander Qassem Soleimani and Popular Mobilization Forces deputy chief Abu Mahdi al-Muhandis near Baghdad International Airport.

US forces in Iraq are currently stationed at several bases, including Ain al-Asad in Al-Anbar and Harir in Erbil. Around 2,500 American troops remain in the country, focused on combating ISIS remnants and providing logistical support to Iraqi forces under the Global Coalition.

DINAR EXCHANGE 🚨 Iraq’s $16 Trillion Resource Revelation!

 DINAR EXCHANGE

Iraq’s $16 Trillion Resource Revelation! PM Advisor Salih unveils Iraq’s vast mineral wealth, positioning it as the 9th richest globally. With plans to diversify the economy and reduce oil dependence, could this be the catalyst for the Iraqi Dinar’s revaluation? #Iraq #IQD #EconomicDiversification #DinarRevaluation Iraq’s $16 Trillion Resource Revelation: A Catalyst for Dinar Revaluation? Iraq’s Prime Minister’s Financial Advisor, Mazhar Mohammed Salih, recently announced that the nation’s natural resources are valued at over $16 trillion. This immense wealth, encompassing minerals like thorium, uranium, phosphate, sulfur, and lithium, positions Iraq as the ninth richest country globally in terms of natural resources. The Iraqi government is actively pursuing economic diversification, aiming to reduce its heavy reliance on oil revenues. By developing the mining sector, which is expected to contribute at least 10% to Iraq’s GDP during its initial development phase, Iraq seeks to stabilize its economy and strengthen the Iraqi Dinar (IQD). According to Basel III requirements, a nation’s currency should reflect its tangible assets. With Iraq’s vast untapped resources, there’s a compelling case for a revaluation of the IQD.

MARKZ: THE REDEMPTION CENTERS ARE ACTIVE!! @DINARREVALUATION #iraqidinar...

Oil Minister From London: Iraq Will Achieve Self-Sufficiency In White Goods By The End Of The Year.

   Oil Minister From London: Iraq Will Achieve Self-Sufficiency In White Goods By The End Of The Year.

 
Economy Yesterday, | 533  Baghdad Today – Baghdad  Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, today, Wednesday, June 4, 2025, that  Iraq "has
 
     stopped importing gas oil and kerosene,
     reduced gasoline imports to a minimum, and 
by the end of this year, imports of kerosene products will stop."
 
During his participation in the Iraq-Britain Business Council (IBBC) conference in London, Al-Sawad said,
 
"Iraq has witnessed remarkable progress in recent years
     through reform programs adopted by the government,
     aimed at establishing the foundations for sustainable development,
     maximizing the added value of natural resources, and
     developing partnerships and investments." He pointed to
     "supporting the business environment through new instructions issued by the government for partnerships with the private sector." 

He added,  "The ministry has achieved qualitative steps in increasing investment in associated gas and reducing its flaring rates.
 
The investment rate has risen to more than 70% in a short period,
compared to 53% when the current government took office.

This is achieved through prominent projects such as Basra and Artawi gas, Halfaya and Nasiriyah gas, the Fayhaa field, and others."  

Al-Sawad pointed out that  "the ministry is working to launch gas investment projects in the Akkas and Mansouriya fields,  to achieve gas production and investment with a capacity exceeding 1,000 cubic meters," explaining that "
 
This comes as part of programs that offer accelerated phases,
which provide significant opportunities for international partnerships,
particularly in gas-fired processing, transportation, and power generation projects,"

 he added, noting that "the ministry has also made progress in developing oil fields." The Oil Minister continued, "In this context,
 
carbon and methane emission reduction projects emerge as promising opportunities for partnership with the private sector,

through the deployment of monitoring and reduction technologies or infrastructure development,
in light of Iraq's commitment to climate agreements.
 
In light of the multiple gas investment projects,
Iraq has taken the initiative to form a carbon bond company." He pointed out that
 
"an integrated project is being implemented with the French company Total Energy,
which includes oil production from the Artawi field with a capacity of 210,000 barrels per day,
gas investment with a capacity of 600 megawatts,
 
in addition to a project to generate electricity based on solar energy,
which is the first project that will start production at the end of this year with a capacity of 250 megawatts,
 
in addition to a project to produce injection water with a capacity of 5 million barrels per day based on seawater, and
the project is the first of its kind in the region with its interconnected components."  Al-Sawad noted the
 
"development in the refining sector and
the increase in production rates of petroleum derivatives
with an additional production capacity of 360,000 barrels per day.

Through this increase, Iraq has
 
     stopped importing gas oil and kerosene, and
     reduced gasoline imports to a minimum.
 
By the end of this year, the
     import of kerosene products will stop, and
     Iraq will become a self-sufficient country,
     exporting the surplus of its products abroad.
 
This self-sufficiency comes through the operation of the Karbala refinery,
and the fourth unit in the southern refineries in Basra,
in addition to projects to increase production in the Northern Refineries Company."
 
In the field of electricity, the Minister of Oil indicated that
 
"Iraq is working to
     exploit the gas produced to
     build power plants at key production sites with direct connection to the national grid, in addition to
     signing electricity exchange agreements with Jordan, Turkey, and the Gulf states
 
as part of a broader vision to  
     achieve self-sufficiency and
     build an integrated energy system, in addition to the issue of
     energy security." He pointed to the
 
"Development Road Project, which is one of the strategic projects in the region,
linking southern Iraq to Turkey and Europe," noting that
 
"the Ministry of Oil has a project to extend a pipeline parallel to the road with a diameter of 56 knots, and the Ministry has begun the first phase (Basra - Haditha), and the pipeline extension project includes the construction of warehouses and pumps to complement the pipeline."
 
The Oil Minister concluded his speech by saying, "Iraq is opening up to the world today with a partnership-based approach and is looking forward to qualitative contributions from reputable British companies in the fields of traditional and renewable energy," noting that "Iraq has signed a contract with British Petroleum to develop the four Kirkuk fields." https://baghdadtoday.news/275655-.html   

TIDBIT FROM MILITIAMAN

 Militia Man 

 Article quote:  "Protect investors against certain risks such as political instability, expropriations or currency inconvertibility." 

 Isn't that interesting?  'Inconvertibility'. 

  In other words Iraq's currency at the moment isn't quite convertible just yet. 

 Is it expected to be convertible on the Forex.  I think it is.

Iraq is getting closer to membership in the World Trade Organization!! #iqd # #iraqidinar #iraq

 

By leveraging foreign expertise, the Association of Banks intends to enhance the capabilities of banking sector employees

 By leveraging foreign expertise, the Association of Banks intends to enhance the capabilities of banking sector employees.

Economy | 02:42 - 06/06/2025  Mawazine News - Baghdad – The Iraqi Private Banks Association announced on Friday the completion of training for banking sector cadres by the end of the year, utilizing foreign expertise. It also confirmed the continuation of the search for strategic partnerships with foreign banks.

Chairman of the Iraqi Private Banks Association, Wadih Al-Handhal, said in a press statement that "many issues were discussed during the recently held Anti-Money Laundering and Combating the Financing of Terrorism conference, most notably the challenges facing Arab banks in complying with international laws and regulations and ways to meet the requirements of correspondent banks."

He added that "the conference discussed with experts, researchers, writers, and officials from Arab and foreign banks to develop a mechanism for cooperation to simplify procedures for Iraqi banks to deal with correspondent banks and how to consolidate the concept of technology and artificial intelligence in the use of banking operations as part of our work. Most importantly, it is necessary to search for strategic partnerships with foreign banks."

The head of the Iraqi Private Banks Association continued, "Work is underway and the world is advancing at the speed of light. Many Iraqi banks are working to keep up, but it's not easy, because some of the human cadres in the banking sector need training and courses."

 He emphasized that "the Association of Banks, in cooperation with the Central Bank, has launched ongoing courses for banking cadres, but they will require some time, at least until the end of next year. However, work is underway, and we are seeking foreign expertise from outside Iraq and are continuing to adapt to it."  https://www.mawazin.net/Details.aspx?jimare=262219