Any move on the part of the Central Bank of Iraq to restrict the citizens in the use of the dollar and more use of the dinar is yet another move towards monetary sovereignty for Iraq...
Now they have ditched the dollar, the parallel market is done and they are going back to sole use of the Iraqi dinar as their main currency within the country.
This is exactly how it was before the 2003 invasions and the hyperinflation conversion to the three zero notes and the use of the currency auctions (sole use of the US dollar to pay for imports).
AL-HASSAN FROM KARBALA: IRAQ IS NOT A POOR COUNTRY AND IS OPEN TO FOREIGN INVESTMENT.
Al-Hassan from Karbala: Iraq is not a poor country and is open to foreign investment.
The Special Representative of the Secretary-General for Iraq, Mohammed Al-Hassan, praised Iraq’s policy of disassociation from recent conflicts in the region, stressing that the country is now open to foreign investment to improve the economic situation. In a joint press conference with the Governor of Karbala, Nassif Jassim Al-Khattabi, Al-Hassan said, “What I witnessed in Karbala today is a vivid image of a united Iraq. What we witnessed embodies the meaning of national belonging, and that this belonging is above all considerations.”
He added, “The stability achieved in Iraq did not come by chance, but is the result of collective will and precious sacrifices.”
He stressed that “Iraq is not a poor country, but rather a country of goodness, with trained, educated and cultured human resources, not only at home but also abroad. Iraq has distinguished male and female scientists, even at NASA.” He added, “Iraq has distanced itself from the surrounding political problems, and in light of this, we expect to see nothing but a strong Iraq with a regional and global standing.”
Article: "Documented: Trump in a letter to al-Sudani: Iraq faces two choices"
Quote: "The United States of America announced the imposition of a 30% tariff on all Iraqi products imported into the United States, effective August 1, 2025..
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The letter hinted at the possibility of adjusting these tariffs, upwards or downwards, based on the relationship between the two countries, and if Iraq decides to open its previously closed trade markets to the United States, and eliminate its tariffs and non-tariff policies and trade barriers."
IRANIAN OIL SOLD AS IRAQI OIL.” WASHINGTON’S SANCTIONS AGAINST TEHRAN AFFECT BAGHDAD.
A report by the American Oil Price website revealed that the Trump administration has escalated its pressure on the Iranian regime after the strikes on its nuclear facilities, announcing new designations for more than 30 tankers, entities, and individuals, including the Iraqi Salim Ahmed Saeed, owner of the VS Oil Terminal oil terminal in the Khor al-Zubair port.
The report indicates that the goal of these pressures is to push Iran back to the negotiating table, but it also notes that Iraq will be directly affected by these sanctions, as they include companies and operators operating within it and may hinder international investment in oil, gas, and ports.
It also indicated that Trump’s strategy in Iraq takes two paths:
1.the first is to pressure Tehran to negotiate,
2.while the second is to pull Baghdad further west to counter Chinese and Russian influence in the region.
The Trump administration has ratcheted up its pressure on the Iranian regime, just weeks after striking Tehran’s nuclear facilities. Washington has intensified its so-called “maximum pressure” sanctions, announcing new designations targeting more than 30 tankers, entities, and individuals. Once again, Iran’s nuclear fleet faces mounting pressure from US sanctions, with no sign of relief in sight for the regime in Tehran. As Trump and his advisors have indicated, Iran must return to the negotiating table to discuss its future; otherwise, as Trump and Steve Witkoff have stated, sanctions relief is out of the question.
“As President Trump has made clear, Iran’s behavior has completely destroyed it,” said U.S. Treasury Secretary Scott Besant.
He added, “The Treasury Department will continue to target Tehran’s sources of revenue and intensify economic pressure on it to hinder the regime’s access to the financial resources that fuel its destabilizing activities.”
The US Office of Foreign Assets Control (OFAC) stated on Thursday that the targeted networks transported “billions of dollars’ worth of Iranian oil.” The OFAC designations include a list of companies linked to Iraqi-British national Salim Ahmed Saeed, who is accused of “selling Iranian oil falsely labeled as Iraqi oil since at least 2020.”
[via PDK] Article: “The KRG (Kurdistan) has notified the US that they will only allow Baghdad 48 hours to make a decision regarding the issue of funding the Kurdistan regions cival servant employees salaries”
This is 48 hours from yesterday afternoon. This should force a conclusion for the oil and gas law…hopefully this week.
We should get a decision within 48 hours... Lots of things appear to be aligning...
