Frank26
[Iraq boots-on-the-ground report]
FIREFLY:The United States Federal Reserve still holds our oil reserves, our money, and this affects our economy and our exchange rate.
FRANK: Yes, America is still holding on to your oil because we are protecting it...Executive Order 13303 has something to do with it. It's a good thing. It's not a bad thing...Evil pigs tell you it's going to affect your exchange rate of the dinar. Well, of course it is...but in a positive way. It's going to improve it.
A Government Delegation From The Region Arrives In Baghdad, And An Oil Agreement Is Imminent Today.
Time: 2025/07/07 11:24:11 Reading: 945 times {Political: Al Furat News} An informed source revealed that a delegation from the Kurdistan Regional Government arrived in Baghdad to hold talks with Iraqi officials regarding the draft agreement between the two sides.
According to the source, the delegation includes Acting Minister of Natural Resources Kamal Mohammed, Cabinet Secretary Amanj Rahim, and Head of the Coordination and Follow-up Office Abdul Hakim Khosro.
The delegation's visit comes as Baghdad has prepared a final draft of the agreement to re-export oil and is awaiting Erbil's response, which is expected today.
A source familiar with the Baghdad-Erbil negotiations, who preferred to remain anonymous due to the sensitivity of the issue,
reported yesterday that a draft agreement on the delivery and export of oil was in its final stages. He noted that the most significant amendment to the agreement entails the delivery of all oil produced in exchange for the federal government securing the Kurdistan Region's petroleum product needs.
The source in the Kurdistan Regional Government indicated that the draft agreement stipulates that a delegation from the Ministry of Oil will be sent to the region for two purposes: first, to determine the actual level of oil production, and second, to assess the extent of local needs for petroleum products such as kerosene, gasoline, and diesel, which the federal government will provide according to the agreement.
It is worth noting that the Kurdistan Region's oil exports via the Turkish port of Ceyhan have been halted since March 25, 2023, while the amendment to the budget law entered into force on February 17 with the aim of removing obstacles to the resumption of these exports.
Under the amendment, a consulting firm will assess the costs of extracting and transporting Kurdistan's oil. Until this assessment is completed, Baghdad will temporarily pay $16 per barrel to oil companies as operating costs. LINK
Al-Mustaqilla Reveals: 30 Iraqi Banks No Longer Deal In Dollars!
Al-Mustaqilla publishes the full list: Banks banned from receiving dollars by order of the Central Bank.
July 7, 2025 Last updated: July 7, 2025 Al-Mustaqilla/- Al-Mustaqilla today obtained an updated list of licensed private banks in Iraq that have been banned from dealing in dollars by the Central Bank of Iraq.
This decision comes amidst uncertainty and the lack of official confirmation of the precise reasons that prompted the bank to ban these banks from dollar trading.
It is speculated that these banks are linked to US sanctions and other financial oversight concerns.
Banks prohibited from dealing in dollars
According to the official website of the Central Bank of Iraq,
the list included the following banks:
Middle East Iraqi Investment Bank
Iraqi investment
Dar Al Salam Investment
Babylon consumption
Sumer Commercial
Mosul Development and Investment
Iraqi Federation
Ashur International Investment
Across Iraq for Investment
Guidance
Erbil Investment and Finance
Hammurabi's Commercial Code
Elaph Islamic
Kurdistan International Islamic Investment and Development
Islamic Cooperation for Investment (under liquidation, prohibited from dealing in dollars)
Islamic Giving for Investment and Finance
Islamic Investment and Finance Advisor
Islamic World Investment and Finance
South Islamic Investment and Finance
Islamic Arabic
Noor Al Iraq Islamic Investment and Finance
Zain Iraq Islamic Investment and Finance
International Islamic
Islamic Finance Holding Company
Al Ansari Islamic Investment and Finance
International Islamic Trust
Al Rajhi Islamic
Islamic Paper for Investment and Finance
Asia Iraq Islamic Investment and Finance
Islamic Spectrum for Investment and Finance
Islamic money for investment
Possible reasons for ban
To date, the Central Bank of Iraq has not issued an official statement detailing the reasons for banning these banks from dealing in dollars.
However, financial sources and banking sector observers point to the possibility of a link between this decision and US or international sanctions on some of these institutions,
in addition to potential violations related to: money launderingsmuggling hard currency illegal transfers
Failure to comply with financial compliance and banking oversight standards
The repercussions of the decision on the Iraqi economy
This ban comes at a time when the Iraqi economy is suffering from several pressures, including the decline in the value of the Iraqi dinar and fluctuating dollar prices in the local market, which could lead to: The complexity of transactions for companies and individuals dealing with these banks.
Increased demand on the black market for dollar exchange, with the accompanying financial risks. Undermining confidence in the local banking system, especially among private banks facing the threat of sanctions.
Calls for more transparency
Economists believe the Central Bank of Iraq should issue a transparent statement explaining the true reasons behind these decisions, along with a clear plan to address the financial issues related to the banks in question.
Some MPs have also called for the formation of a parliamentary investigation committee to monitor the violating banks and ensure the protection of citizens' funds.
in conclusion
All eyes are on the Central Bank of Iraq's next steps regarding banks banned from dealing in dollars.
Will additional sanctions be imposed, or are these merely temporary measures to regulate the market and improve financial oversight? What impact will this have on the stability of the banking system and the Iraqi economy in general?
https://mustaqila.com/المستقلة-تكشف-30-مصرفًا-عراقيًا-خارج-ال/
Al-Sudani: We Are Close To Achieving Complete Self-Sufficiency In Petroleum Derivatives And Will Move To Exports
Monday, July 7, 2025 11:05 | EconomicNumber of reads: 369 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "Iraq is close to achieving full self-sufficiency in petroleum derivatives, and will move to exports after the completion of a number of projects."
Al-Sudani said in a speech during the inauguration, via video conference, of the operational works of the Diwaniyah refinery expansion project: "This project falls within the government's vision to reach the conversion of 40% of the produced oil to the refining and transformation industries to meet the needs of the local market and export," indicating that with the entry of a number of projects into service, Iraq is close to achieving full self-sufficiency in petroleum derivatives, and will move to exports after the completion of the refinery expansion projects in Maysan, Diwaniyah, and Najaf.
According to a statement from his media office, he praised the efforts being made on this project, noting: "Diwaniyah Governorate lacks major projects, and this project will contribute to stimulating economic activity and will provide double job
opportunities.
" He pointed out: "Refinery expansion projects will be one of the most prominent areas for enhancing the expertise of our youth and developing and investing in the oil wealth."
Al-Sudani explained: "The project, which costs $800 million, will include the addition of liquefied gas processing units with a capacity of 180 tons per day, gasoline improvement with a capacity of 10,000 barrels per day, expansion of kerosene, gas oil and fuel oil production, an 8,000 barrel per day naphtha isomerization unit, an 18,000 barrel per day naphtha hydrogenation unit, a nitrogen production plant, warehouses and storage and pumping stations, and another for electricity production."
The Prime Minister expressed his great confidence in the private sector as a partner in implementing strategic projects, in addition to his greater confidence in national capabilities to implement joint projects and achieve the highest returns from the oil wealth.
Prime Minister Mohammed Shia al-Sudani launched, today, Monday, via a video conference, the executive works of the Diwaniyah refinery expansion project by adding refining units with a capacity of 70,000 barrels/day, so that the total refining capacity of the refinery becomes 90,000 barrels/day. /End https://ninanews.com/Website/News/Details?key=1239422
Tuesday Coffee with MarkZ. 07/08/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning Mark, Mods and members
Member: Are we there yet????
MZ: In Iraq: “The coming hours may witness the signing” This is about the Erbil/Baghdad oil agreements . There is a lot of back and forth right now. But articles are saying they have worked through the issues and signing is imminent.
MZ: We saw this same kind of back and forth in Kuwait.
Member: Never thought we all still be waiting and waiting and waiting all this time for the RV to go but then again, they don't care
MZ: Our regular article from Saleh: “ Advisor to the Prime Minister: Monetary Policy has succeeded in stabilizing prices and curbing inflation” He says “We are in great shape.”
Member: I bet Saleh had black hair when I bought my dinar
MZ: “Banning 18 Islamic banks from dealing in dollars-liquidation is looming”These are the same banks associated with financing terrorist groups. So is it Islamic banks being singled out – or support of terrorism being singled out? I think its part of a world wide cleanup effort.
MZ: I think this one is important. “A security source revealed Tuesday the determination of the International coalition withdrawal from Ain-A-Assad base from Anbar province” Trump has said all along that we will leave when we are paid. Now they are leaving????
MZ: I believe things are much further advanced than the press is reporting
MZ: This one makes me feel good about where we are at: “ TIR system: Iraq is a highway from Turkey to the Gulf” this is part of the development road project connecting the east to the west.
Member: I wonder- when do the Vietnamese new tariff trade agreements and thus new rate go into affect?
Member: With the new trade deal with Vietnam they should just go alone and take the lead
Member: any news from Bonds or groups today?
MZ: I do know a couple folks that have some bond update appointments today and I am hopeful it will give us a better idea where we are? Seems like much of it is misdirection.
Member: Frank's JPM Story...A guy went in for a meeting with Fin Adv. wasn't getting anywhere. Plopped down a brick of Dinar...The VP of Wealth mgmt was called. They have an appt today.
Member: We’re in a proverbial “escape room” looking for the clues together!
Member: Will we have Christmas in July or December?
Member: When this is all said and done and we are on the other side of this shift I vote to remove the word “soon” from the English language going forward!!
Member: They have always said there would be confusion right before this happens—hope that is where we are
Member: Just before the end of a movie the twists and turns increase and then boom
Member: happy Birthday to everyone celebrating and have a great day everyone.
