Iraq Economic News and Points To Ponder Late Saturday Evening 2-28-26
Iraq Condemns Iran's Attacks In Babil, Kurdistan, And Gulf States
2026-02-28 Shafaq News- Baghdad/ Erbil Iraq’s Foreign Ministry on Saturday condemned a wave of Iran's regional attacks, after strikes reportedly hit Jurf al-Sakhr in Babil province and Iran launched missiles targeting sites in the Kurdistan Region and several US military bases across the Gulf.
The ministry said the purpose of the attacks in Iraq is to draw the country into the ongoing regional conflict, a move Baghdad “categorically rejects.” It reiterated Iraq’s support for resolving disputes through negotiations and called for continued diplomatic efforts, including talks related to Iran’s nuclear program.
The ministry also expressed solidarity with “brotherly Gulf states” affected by the strikes and stressed the need to respect state sovereignty and international law to prevent further escalation.
Ministry of Foreign Affairs of the Republic of Iraq
The Ministry of Foreign Affairs expresses the Republic of Iraq’s strong condemnation and denunciation of the attacks that targeted various areas, both in central Iraq and in the Kurdistan Region, considering such acts a threat to national security and stability.
The purpose of these aggressive attacks is to drag the Republic of Iraq into the ongoing war in the region—a war we condemn and call for its immediate cessation. Our policy is based on rejecting wars and believing in resolving conflicts through negotiations. Accordingly, we have been among the principal supporters of the negotiations that took place between the Islamic Republic of Iran and the United States of America.
From this standpoint, we condemn the ongoing military campaigns against our neighboring country, Iran, while reaffirming our view that any expansion of the war constitutes a threat to all countries in the region and will only prolong and perpetuate the conflict.
We express our solidarity with our brothers, and our firm rejection of the attacks that targeted some sisterly Gulf states. We call for respect for national sovereignty and adherence to international law in order to avoid any further escalation in the region.
The Ministry renews its commitment to diplomatic solutions and constructive dialogue to ensure regional security and stability.
Ministry Of Foreign Affairs Of The Republic Of Iraq
28 February 2026 The Jurfal-Sakhr (also known as Jurf al-Nasr) hosts armed factions aligned with the Popular Mobilization Forces (PMF). The two consecutive attacks killed two fighters and injured six others.
Separately, Iranian projectiles were reported to have hit the vicinity of Harir Air Base in the Kurdistan Region, as well as areas near Erbil International Airport.
Iranian state media also reported strikes on US military facilities in Qatar, the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain. US officials have not immediately confirmed the extent of the damage or whether there were casualties. https://www.shafaq.com/en/Iraq/Iraq-condemns-attacks-in-Babil-Kurdistan-and-Gulf-states
Iraqi Factions Target US Military Bases
2026-02-28 Shafaq News- Baghdad The Islamic Resistance in Iraq (IRI) reported on Saturday that it carried out 16 operations using dozens of drones across Iraq and the surrounding region.
In a statement, the group described the targets as “enemy bases,” indicating that further details would be released later.
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Meanwhile, Saraya Awliya Al Dam, an Iraqi Shiite armed faction aligned with Iran, executed a “precision operation” with three drones targeting a US operations command in Erbil, the capital of the Kurdistan Region, “in support of the Islamic Republic of Iran and in defense of Iraq’s sovereignty.”
Iraq’s Kataib Hezbollah, Harakat Al Nujaba, and Kataib Sayyed Al Shuhada —all aligned with the IRI and the Iran backed Axis of Resistance— have previously declared their readiness to join Tehran in confronting the United States and Israel.
Earlier today, witnesses and security sources reported more than ten explosions near Erbil International Airport, which includes a military section used by US led Coalition forces, and at Harir Air Base, another facility hosting US troops.
The Kurdish Counter Terrorism Service later confirmed that the Global Coalition intercepted and shot down several missiles and drones over Erbil province, without providing details on damage or casualties.
These developments came hours after coordinated US and Israeli strikes targeted sites inside Iran, described by Washington as actions against “imminent threats.” In retaliation, Tehran, through the Islamic Revolutionary Guard Corps (IRGC), launched missile and drone attacks against Israel and US military bases in several Arab countries, including Saudi Arabia, Kuwait, Bahrain, Qatar, and the United Arab Emirates. Media outlets also reported attacks on bases in Saudi Arabia and Iraqi Kurdistan. https://www.shafaq.com/en/Security/Iraqi-factions-target-US-military-bases
Iraq Intercepts Nine Drones Targeting Military Bases
2026-02-28 / Shafaq News- Baghdad Iraq shot down nine drones targeting military sites in Dhi Qar and Basra provinces in southern Iraq, including four over Imam Ali Air Base, the Joint Operations Command said (JOC) on Saturday.
According to a statement, three were injured in Basra, “as investigations and necessary procedures are ongoing in accordance with established protocols.”
The JOC did not identify the party responsible for launching the drones.
Meanwhile, a security source told Shafaq News that US air defenses at Victory Base inside Baghdad International Airport shot down a drone without causing losses.
Earlier today, Iraq’s Popular Mobilization Forces (PMF) reported two strikes targeting one of its positions in Jurf al-Sakhr (also known as Jurf al-Nasr), north of Babil province.
https://www.shafaq.com/en/Security/Iraq-intercepts-nine-drones-targeting-military-bases
The US State Department Told “Lwan News”: Our Operations Inside Iran Are Limited And Coordinated With Israel, And We Are Committed To Supporting Iraq.
America – One News 2/28/2026 The US State Department confirmed in exclusive statements to “Lwan News” that the United States is carrying out specific military operations inside Iran in coordination with Israel, noting that these moves came in response to the escalation of threats related to the Iranian nuclear and missile programs after exhausting diplomatic avenues.
She stressed that the United States is not seeking to expand the war or enter into a comprehensive regional conflict, and that the priority of its actions is to protect its national security and the security of its allies, with a full commitment to supporting Iraq’s sovereignty and stability, and not to target Iraqi territory or infringe upon bilateral commitments with Baghdad, while continuing close coordination with the Iraqi government to ensure that its security is not affected by developments.
The US State Department affirmed that the door remains open for a serious diplomatic path, and that the goal of the operations is to prevent the spread of nuclear weapons and achieve regional stability, noting that the Iranian regime is facing an unprecedented test, and the future of the stage is determined by the choices of the leadership in Tehran and its regional behavior, and that any escalation by factions linked to the Iran axis will have serious consequences.
She added that her operations target the system responsible for destabilizing the region, not the Iranian people, and that any real change begins with respecting international law and stopping support for armed groups, stressing that the stability and sovereignty of Iraq is a top priority and that she exclusively supports Iraqi state institutions. https://1news-iq.net/السوداني-يقود-غرفة-عمليات-دبلوماس/
Government Advisor: Converting The Dollar To Multiple Currencies Enhances The Efficiency Of The Banking System.
Baghdad (INA) – Nassar Al-Hajj – Advisor to the Prime Minister, Mazhar Muhammad Saleh, affirmed on Friday that the Central Bank's initiative to expand the capacity of banks enhances the flexibility of dollar management and trade finance. He also indicated that converting dollars into multiple currencies strengthens the efficiency of the banking system.
Saleh told the Iraqi News Agency (INA): "The Central Bank's initiative to expand the capacity of private banks to support international trade for their clients represents an advanced degree of flexibility in managing dollar resources derived from oil exports, by allowing their conversion into multiple international currencies and their use in financing foreign trade.
" He pointed out that "this will facilitate import operations, reduce conversion costs and the risks associated with relying on a single currency, and enhance the smooth flow of transactions through global banking channels."
He added that "allowing the issuance of letters of credit in several currencies (such as the euro, the Emirati dirham, the Chinese yuan, the Jordanian dinar, and others) gives private banks greater ability to meet the needs of their clients and expands their correspondent banking network, which will positively impact the efficiency of banking operations and Iraq's deeper integration into the international trade system."
Saleh explained that "this mechanism comes at the same time within a framework of strict institutional compliance that aligns with international standards and regulations in general, and American standards in particular, thus allaying concerns about regulatory conflicts or currency misuse."
He pointed out that "the process of converting dollars into other currencies, as a precursor to trade finance, is conducted through a transparent financial system subject to rigorous oversight and governance, which reduces the likelihood of suspicious transactions and enhances the credibility of the Iraqi banking system."
He added that "this will deepen mutual trust with international partners, especially the United States, by confirming that financial flows related to Iraq's foreign trade are consistent with international compliance rules and do not conflict with foreign policy or national security considerations of the countries involved, especially in an international environment characterized by escalating geo-economic competition and the use of financial tools in what is known as soft warfare."https://ina.iq/ar/economie/256085-.html
Sudani Leads Diplomatic “Operations Room” With Arab Leaders To Contain Escalation
Baghdad – One News 2/28/2026 The head of the Reconstruction and Development Bloc, Bahaa Al-Araji, and MP Alia Nassif, revealed in two separate posts on the (X) platform today, Saturday (February 28, 2026), that Prime Minister Mohammed Shia Al-Sudani is leading an active diplomatic “operations room” in communication with a number of Arab leaders, with the aim of formulating a unified position to contain the repercussions of the military escalation in the region.
Al-Araji stressed that Iraqi moves seek to find serious ways to de-escalate tensions and block the path to “escalation efforts” that threaten the security and stability of the region’s peoples, noting Baghdad’s keenness to play a pivotal role in defusing escalating regional crises and promoting stability. https://1news-iq.net/السوداني-يقود-غرفة-عمليات-دبلوماس/
President Barzani, Syrian FM urge regional cooperation after US-Israel strikes on Iran
2026-02-28 Shafaq News- Erbil Kurdistan Region President Nechirvan Barzani called for stronger regional coordination on Saturday during a phone conversation with Syrian Foreign Minister Asaad al-Shaibani, as hostilities intensified following direct military exchanges between the United States, Israel, and Iran.
According to a statement from the Kurdish Presidency, the two sides reviewed the latest security developments and assessed their impact on regional stability. They stressed the importance of enhanced cooperation to prevent further escalation.
The call follows coordinated US and Israeli strikes on sites inside Iran, which Washington described as action against “imminent threats from the Iranian regime.” Tehran responded with missile and drone attacks targeting Israel and US military facilities in Kuwait, Bahrain, Qatar, and the United Arab Emirates. Regional media also reported strikes on sites in Saudi Arabia and Iraq’s Kurdistan Region.
Authorities in the Kurdistan Region, in response, suspended schools and universities until March 4 across all public and private educational institutions, citing safety concerns.