Iraq Economic News and Points To Ponder Monday Afternoon 7-21-25
Al-Sudani Receives The Commander Of The US Central Command
Buratha News Agency14020 25-07-21 Prime Minister and Commander-in-Chief of the Armed Forces, Mohammed Shia al-Sudani, received today, Monday, July 21, 2025, Commander of the US Central Command, General Michael Kurilla, and the accompanying delegation, in the presence of the Chargé d'Affaires at the US Embassy, Steve Fagin.
A statement from the Prime Minister's Office stated that Al-Sudani "at the beginning of the meeting welcomed the delegation, which included the new commander of the international coalition forces to fight terrorism in Iraq and Syria, Brigadier General Kevin Lambert, and the former commander of the coalition, General Kevin Leahy."
During the meeting, according to the statement, "the cooperation relations between Iraq and the international coalition, the stages of its development, and preparations for the transition to bilateral security relations with coalition countries were reviewed. The meeting also discussed the work of the joint high committee between Iraq and the United States, security cooperation and coordination, and developments in Syria and their repercussions for regional security."
The Prime Minister stressed "the importance of imposing stability, avoiding the causes of conflict expansion, respecting the sovereignty of states, based on UN charters, international resolutions, dialogues, and understandings, and activating diplomatic activities and cooperation to consolidate security and stability in the region." https://burathanews.com/arabic/news/463090
The Minister Of Planning Arrives In New York To Participate In The United Nations High-Level Forum On Sustainable Development.
Monday, July 21, 2025 | Economic Number of reads: 167 Baghdad / NINA / Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, arrived in New York on Monday, heading a high-level official delegation, to represent Iraq at the High-level Political Forum on Sustainable Development, which is being held at the United Nations headquarters, from July 21-24, with the participation of leaders and representatives of member states.
In addition to the Iraqi delegation, the Minister heads, according to a statement by the Ministry, the delegations of the Group of 77 and China and the Arab Group in this important international forum, which discusses the paths to implementing the goals of the 2030 Agenda for Sustainable Development, and the challenges facing developing countries in achieving these goals, especially in light of the multiple global crises.
It is hoped that the Minister will hold a number of bilateral and official meetings during his participation in the forum, with his counterparts and representatives of countries and international organizations, to discuss ways of cooperation, transfer of experiences and expertise, and strengthening Iraq's position on the regional and global development map.
The forum will also witness the presentation of the third voluntary report on sustainable development in Iraq, which will address the steps taken towards achieving the development goals. https://ninanews.com/Website/News/Details?key=1242017
What Solutions Are Available To Iraq After Türkiye Canceled The 1973 Oil Agreement? An Expert Reveals.
Time: 2025/07/21 16:56:29 Reading: 465 times {Politics: Al Furat News} Legal expert Ali Al Tamimi revealed that Turkey's cancellation of the 1973 agreement allowing Iraqi oil exports through its territory poses a legal and strategic challenge to Iraq, while noting that the agreement itself includes clear mechanisms for resolving disputes between the two parties.
Al-Tamimi said in a statement to {Euphrates News} that: “The agreement of August 27, 1973, is an important economic and political cooperation charter between Iraq and Turkey, as it provided a safe route for transporting Iraqi oil to global markets through pipelines that were exposed to numerous terrorist attacks in recent years.”
He added, “The agreement was amended in several years, including 1976, 1980, 1981, 1985, 1996 and 2007, and was legally ratified by Iraq under Law No. 4 of 2011, while the agreement was unilaterally cancelled by the Turkish side.”
Regarding legal solutions, Al-Tamimi explained that "Article 10 of the agreement stipulates that any dispute between the two parties shall be resolved through amicable settlement within a period of four months. If negotiations do not lead to a solution, the dispute shall be referred to international arbitration at the Paris Club in France."
He added, "The arbitration panel consists of three arbitrators: one appointed by Iraq and the other by Turkey. If the third arbitrator cannot be appointed, the President of the International Chamber of Arbitration in Paris will be responsible for appointing him." He noted that "arbitration is based on French law and the French language, and issues a binding and final decision for both parties without the possibility of appeal."
Al-Tamimi concluded by saying, "Arbitration costs and fees are determined by the arbitration committee in accordance with the tariff issued by the arbitration chamber and in accordance with international arbitration laws. This provides a clear legal framework for Iraq to address the challenges resulting from the Turkish side's cancellation of the agreement." LINK
https://alforatnews.iq/news/%D9%85%D8%A7-%D8%A7%D9%84%D8%AD%D9%84%D9%88%D9%84-%D8%A7%D9%84%D9%85%D8%AA%D8%A7%D8%AD%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%A8%D8%B9%D8%AF-%D8%A5%D9%84%D8%BA%D8%A7%D8%A1-%D8%AA%D8%B1%D9%83%D9%8A%D8%A7-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D9%86%D9%81%D8%B7-1973%D8%9F-%D8%AE%D8%A8%D9%8A%D8%B1-%D9%8A%D9%83%D8%B4%D9%81
Parliament's Finance Committee Discusses The Establishment Of The "Primary Rafidain Bank"
Banks - The Finance Committee of the House of Representatives announced, on Monday, the main topics of its hosting of the Director General of Rafidain Bank.
In a speech during the hosting of the Director General of Rafidain Bank, the Committee Chairman, Atwan Al-Atwani, said, "The Finance Committee hosted the Director General of Rafidain Bank, Ali Karim Hussein, to shed light on the bank's activities and discuss some questions regarding the establishment of (the first Rafidain Bank), which is perhaps a borrowing from the current Rafidain Bank, as observations were recorded on the contracts and initial proposals for proceeding with this project."
He added, "Banks receive great attention due to their close relationship with the economic and financial system and their role in achieving development. They also receive special attention from the Finance Committee, given that the integration project between the government and the legislative authority, especially with regard to financial consolidation, financial documents, and sustainable development, represents a key focus."
He explained, "The soundness of banks and the creation of a suitable environment for attracting capital enhance confidence, especially when banks have a high level of transparency, dealing, and digital transformation, which is highly relied upon as an important link in simplifying procedures."
He pointed out that "sustainable development is achieved through the role of banks in investing funds and deposits, managing withdrawals, implementing projects, and providing loans, whether at the level of advances to employees or at the level of loans related to housing and various economic projects." https://economy-news.net/content.php?id=57698
Oil Price Stability
Time: 2025/07/21 08:20:35 Reading: 375 times {Economic: Al Furat News} Oil prices were little changed on Monday as traders anticipated the impact of new European sanctions on Russian oil supplies, rising output from Middle Eastern producers, and concerns about the fuel outlook amid the impact of tariffs on global economic growth.
By 03:44 GMT, Brent crude futures rose six cents to $69.34 a barrel, after settling down 0.35% on Friday. U.S. West Texas Intermediate crude rose 17 cents to $67.51 a barrel, after falling 0.30% in the previous session.
The European Union on Friday approved its 18th package of sanctions against Russia over the conflict in Ukraine, which also targets India's Nayara Energy, an exporter of refined petroleum products from Russian crude. LINK
https://alforatnews.iq/news/%D8%A7%D8%B3%D8%AA%D9%82%D8%B1%D8%A7%D8%B1-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%88%D8%B3%D8%B7-%D8%AA%D8%B1%D9%82%D8%A8-%D9%84%D8%AA%D8%A3%D8%AB%D9%8A%D8%B1-%D8%A7%D9%84%D8%B9%D9%82%D9%88%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%B9%D9%84%D9%89-%D8%B1%D9%88%D8%B3%D9%8A%D8%A7
A Plan To Connect The East And West Of The World Via Baghdad
Local The Ministry of Planning clarified, on Monday, that the Belt and Road Initiative launched by China is consistent and complementary to the development road project that Iraq has begun implementing, while pointing to a plan to link the Iran-Iraq railway to the Gulf, Eastern countries and Europe.
Ministry spokesman Abdul Zahra Al-Hindawi told the official agency, followed by Al-Eqtisad News:
“The Belt and Road Initiative launched by China in 2013 is based on a network of roads and railways that connect the East to the West via main corridors and axes. Iraq is perhaps one of the main axes, taking into account that there is a railway linking China to Uzbekistan, then Pakistan and then Iran within this initiative.”
He added, "There is an idea to link the Iran-Iraq, Turkey, and Syria railway line with the Gulf, Eastern countries, and Europe," noting that "this idea is consistent with and complements the development road project that Iraq has begun implementing."
He explained that, "Under this vision, Iraq is considered an important global transportation hub, both on railways and by road, in addition to the services provided by the railway network, as well as those related to transporting passengers in record times, transporting goods and merchandise, and commercial shipping. This is important for Asian countries, the Levant, and trade with the West, as it saves a lot of time and costs, given that the roads are shortened by passing through Iraqi territory."
https://economy-news.net/content.php?id=57708
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com