FRANK26: "HEY CRAZY GUY... TALK TO THE HAND"........F26
Iran warns European countries against making a "strategic mistake" on the nuclear issue.
6/6/2025
Iranian Foreign Minister Abbas Araqchi warned European countries on Friday of a "severe response" if they commit a "strategic mistake" at the International Atomic Energy Agency's Board of Governors meeting next week.
"Instead of engaging in good faith, the European trio (Germany, France, and the UK) are choosing malicious action against Iran at the IAEA Board of Governors," Araghchi wrote on the X platform.
He added, "Mark my words, while European countries contemplate another major strategic mistake: Iran will respond forcefully to any violation of its rights."
The Europeans and the United States intend to submit a resolution against Iran to the International Atomic Energy Agency's Board of Governors next week, with the threat of referring the case to the United Nations, according to several diplomatic sources.
An informed diplomatic source said Thursday that after the UN agency published a report confirming "Tehran's complete lack of cooperation, a resolution will be submitted for its failure to comply with its nuclear obligations."
Two other diplomats confirmed to AFP this Western initiative, which aims to "intensify pressure" on Iran.
I want now to give you an update on my conversation yesterday with my Iraqi CBI contact:
I asked if the Iranian issue had any impact on the reinstatement process.
She told me that the negotiations with Iran are critical to Iraq too for many reasons. Iran is a large trading partner and it would greatly effect prices in Iraq from imports.
She told me about the U.S. treasury and a recent meeting with the CBI, Finance Committee, Al-Sudani and Saleh. She was present in the room but not involved in the conversation.
She was allowed in the room because it could affect the start of the Project to Delete the Zeros. She told me that if Iran goes sour, the coalition may decide to bunker bomb the Iranian nuclear sites and destroy all capabilities for enrichment.
She said Trump did offer enrichment continuation policy up to a point for peaceful nuclear power generation, pending on verification of the commitment. Iran so far does not want to expose their sites and locations to inspections. Why? Even if the U.S. and Israel do decide to bomb, there is no assurance the have the correct locations of these sites.
Trumps deal may be rejected. The feedback is still pending. In that case this would be the last offer and negotiations would end. The next step is the bunker bombing.
The reason for the meeting this week in Iraq was to inform all parties that the U.S. may target the reinstatement of the dinar prior to the bombing, as once the bombing occurs things could get “sticky” in Iraq for a period of time, maybe years.
The call to Iraq was a long one and the cost was expensive. So I had to end it. I plan to get an update next week. She was not sure of the deadline for acceptance or rejection of Trumps last offer to Iran and though it might be June 7th.
We all hold our breath in Iraq she said waiting for the reply from Iran. She hoped it would be the right one.
AsiacellandChina Mobile International (CMI)have signed a Memorandum of Understanding (MoU) to jointly deliver comprehensive digital and telecom solutions in Iraq, with a strong focus on B2B and enterprise services.
The agreement aims to support Iraq's broader digital transformation by leveraging CMI's global technical expertise and real-world use cases to empower Iraqi enterprises through innovative, scalable, and efficient digital infrastructure.
Alex Lee, CMI's General Manager for the Middle East, expressed enthusiasm about the partnership:
"We are excited to work with Asiacell to unlock new opportunities in Iraq. Our shared vision for a digitally connected world aligns with the tremendous growth potential of this market.
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Asiacell CEO Amer Sunaa added:
"This marks a milestone in Iraq's digital journey. Partnering with CMI reinforces our commitment to delivering world-class telecom and IT solutions that meet the evolving needs of businesses across the region."
The partnership will focus on international connectivity, enterprise services, and emerging technologies to boost innovation and sustainable growth across key sectors in Iraq.
Iraq is embarking on a comprehensive restructuring of its banking sector with the assistance of leading international consultancy firms, according to Dr Salih Salman, Advisor to the Iraqi Prime Minister, speaking at theIraq Britain Business Council (IBBC)Spring Conference in London on Tuesday.
The Iraqi government has appointed Ernst & Young to restructure six of the country's seven state-owned banks, including the Industrial Bank, Real Estate Bank, Rafidain Bank, and Rasheed Bank.
The Trade Bank of Iraq (TBI) has separately engaged K2i and KPMG to help restructure its internal and external operations to meet international standards.
Dr Salman revealed that Rafidain Bank, Iraq's largest state-owned institution, will be reincarnated as the First Rafidain Bank with government participation reduced to less than 24 per cent. The remaining shares will be offered to private banks and international investors. The restructuring plan is expected to be finalised and approved by the Iraqi government by the end of the year.
The private banking sector is also undergoing reform following a contract signed between the Central Bank of Iraq (CBI) and Oliver Wyman. This two-to-three-year project will result in recommendations for private banks to either exit the sector, comply with international standards, or merge with other institutions.
Iraq has made significant progress in electronic payment systems adoption, with financial inclusion rising from less than 10 percent in 2018-2019 to approximately 40 percent currently. The number of debit and credit cards has reached 60,000-70,000, whilst bank accounts have grown to 22-23 million.
From June 2025, all government payments will be made electronically, with cash payments prohibited across government institutions. The Iraqi government has launched awareness campaigns to encourage public adoption of electronic payment systems, moving away from the traditional cash-based culture.
The government has also introduced the Riyada programme, operated in partnership with the Central Bank of Iraq, to provide financing and training for small and medium enterprises. The initiative offers a registration platform where participants can access training and potential financing opportunities.
Dr Salman emphasised that Iraq remains open to foreign investment and international consultancy services across all sectors, including legal, financial, accounting, auditing, and compliance services. The reforms aim to integrate Iraqi banks into the global financial system after decades of isolation due to sanctions and frozen assets.
Since November 2022, all bank transfers in Iraq have been processed through a Central Bank platform in cooperation with the Federal Reserve of the United States, marking Iraq's re-entry into global financial systems. The country now works with approximately 30 overseas banks, though challenges remain in opening international banking relationships.
The comprehensive banking reforms represent a significant shift towards international standards and greater private sector participation in Iraq's financial sector.