Iraq Economic News And Points To Ponder Sunday Afternoon 3-29-26
Calls For The Enactment Of The Oil And Gas Law Within A Constitutional Framework
Baghdad: Muhannad Abdul Wahab The passage of the oil and gas law is a pivotal step towards regulating the management of national wealth in Iraq and ensuring a fair distribution of revenues between the federal government and the regions, while preserving the sovereignty of the state and the rights of all Iraqis.
Members of the House of Representatives and legal experts stress the need to establish a robust constitutional framework that ends disputes, enhances transparency, and keeps pace with modern developments in the energy industry, while protecting national resources from waste and mismanagement, thus paving the way for a new phase of wise oil and gas management and promoting national and international investment in this vital sector.
It is worth noting that the House of Representatives, during its session that discussed the repercussions of exporting Iraqi oil, recommended that the next government program should include the enactment of the oil and gas law, and that it should be presented to the House of Representatives in order to begin voting on it.
MP Ahmed Shaheed told Al-Sabah that passing the oil and gas law represents a fundamental step to regulate the management of national wealth between the federal government and the regions, ensuring a fair distribution of revenues and preserving the sovereignty of the state and the rights of all Iraqis.
Shahid called for the swift enactment of the law to provide a fair constitutional framework for Iraqis and to end disputes related to the management of oil wealth, especially between Baghdad and the Kurdistan Region.
He added that "the current stage requires a thorough study of the law's articles and their revision to keep pace with modern changes in the energy industry and global developments in natural resource management, along with a review of oil contracts and agreements to ensure their consistency with the Iraqi constitution and to safeguard national sovereignty over natural resources."
The MP emphasized that "updating the law's provisions must include clear mechanisms for managing oil fields, regulating contracts with international companies, and guaranteeing transparency in revenues, thereby putting an end to the leakage of wealth and the waste of resources, and establishing a new era of sound oil and gas management in Iraq."
For his part, MP Ali Saber told Al-Sabah that “addressing the oil and gas issue in Iraq should not be limited to enacting a law only, but requires an integrated legislative and economic vision that reorganizes the philosophy of managing national wealth in a manner consistent with the constitution and the requirements of modern development.”
He explained that "the current stage calls for a comprehensive review of the legal system regulating the oil sector, through the preparation of specialized parliamentary studies that examine the mechanisms of investment, production and export, in addition to setting clear rules for managing oil revenues in a way that achieves a balance between the federal government and the producing regions and governorates."
Saber pointed out that "updating the legal framework for the oil sector must take into account global shifts in energy markets and adopt the principles of governance and transparency, while developing parliamentary oversight mechanisms to ensure the sound management of natural resources and prevent any waste or misuse of oil wealth."
He added that "developing the oil investment environment is a fundamental factor in strengthening the national economy, as a clear and stable legal framework encourages international companies to expand their investments in oil fields, gas projects, and energy infrastructure. This will positively impact increased production, job creation, and diversification of income sources, thus supporting the long-term stability of the Iraqi economy."
For her part, Dr. Zainab Al-Saadi, a legal expert specializing in constitutional affairs, confirmed in a statement to Al-Sabah that Article 112/First of the Constitution constitutes an explicit legal and constitutional obligation on the federal government, regulating the relationship with the oil-producing regions and governorates.
She explained that "this article gives legal texts binding force to protect the rights of oil-producing entities and ensure a fair distribution of resources, which makes any new agreements unnecessary, whether through temporary budget laws that end with the end of the fiscal year or through political understandings that are not based on a clear constitutional basis."
Al-Saadi added that “adherence to this constitutional framework reinforces the principle of the rule of law and limits any transgressions that may occur as a result of non-binding political understandings or agreements,” stressing that “the constitution has established clear mechanisms to ensure the stability of the relationship between the federal government and the oil-producing regions and governorates, in a way that preserves everyone’s rights and ensures the management of national resources according to sound legal frameworks.”
She noted that "the application of these constitutional provisions represents the cornerstone of any future policies related to oil and resources and prevents legal vacuums or illegal practices that could lead to disputes between the central government and the regions."https://alsabaah.iq/129833-.html
MP: Passing The Oil And Gas Law Will End The Region's "Rebellion" And Guarantee The Rights Of Producing Provinces
Information/Baghdad... Member of Parliament, MP Ahmed Al-Shammari, revealed on Thursday that there is intensive parliamentary activity and a serious parliamentary determination to proceed with approving the oil and gas law that has been stalled for years, indicating that the move comes in conjunction with efforts to form the next government to put a final end to the ongoing oil disputes.
Al-Shammari stated in an interview with Al-Maalouma News Agency that "the oil and gas law has faced deliberate obstruction and numerous obstacles during past parliamentary sessions."
He pointed out that "political forces in the region lacked the genuine desire to enact the law for fear of losing control over the oil sector, which is currently managed outside of central oversight." He emphasized that "the next phase will not allow the continuation of this state of 'oil chaos.'"
He added that "the law will serve as a decisive legal tool to fully control oil revenues and unify their disbursement channels, ensuring transparency and fairness in the distribution of national wealth."
He further explained that "passing the law will directly contribute to ensuring fairness for oil-producing provinces that have long suffered from an imbalance in financial entitlements compared to their production volume."
He clarified that "Parliament is determined to pass the law to assert state authority over sovereign resources," calling on "all political blocs to prioritize the supreme national interest and move away from partisan entrenchments to ensure the law's passage as soon as possible, thus resolving one of the most significant outstanding issues that has resulted in substantial financial losses." The year. https://almaalomah-me.translate.goog/news/127205/economy/نائب-:-اقرار-قانون-النفط-والغاز-سينهي-تمرد-الإقليم-ويضمن-حقو?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
US Reconsiders Support For Iraq’s PM Amid Iran War
2026-03-29 / Shafaq News- Washington/ Baghdad The United States is reassessing support for Iraqi Prime Minister Mohammed Shia Al-Sudani as tensions with Iran escalate, casting doubt on his prospects for a second term, the US-based Middle East Forum reported.
According to the outlet, the shift follows Al-Sudani’s alignment with Iran-backed factions. On March 24, he said Iraqi armed groups should respond to attacks on their positions, as groups including Kataib Hezbollah and the Badr Organization targeted US interests.
Iraq’s premiership is decided through negotiations among party leaders, Najaf religious authorities, and external actors, notably Washington and Tehran. However, the current war is shifting that balance, increasing US pressure while reducing Iran’s leverage, as Washington questions Al-Sudani’s reliability and seeks to limit risks to its personnel.
With tensions rising, Iraq faces a leadership test that will shape whether it remains insulated from the conflict or is drawn deeper into it. To continue reading, click here. https://shafaq.com/en/Iraq/US-reconsiders-support-for-Iraq-s-PM-amid-Iran-war
Iraq Affirms At The Arab League: No To Escalation And We Will Not Be An Arena For Regional Conflicts
Baghdad – One News 3/29/2026 Iraqi Foreign Minister Fuad Hussein affirmed his country’s unwavering commitment to the sovereignty of nations and its rejection of escalation, during his chairmanship of the Iraqi delegation at the 165th session of the Council of the League of Arab States.
Hussein stressed that Iraq will not be an arena for settling regional scores, and will not become a party to any conflict, in a position that reflects Baghdad’s desire to distance itself from the escalating tensions in the region.
He also stressed that the Iraqi government will not allow its territory to be used to attack neighboring countries, noting its full commitment to preserving the country’s sovereignty and preventing any actions that would harm the security and stability of the region.
He added that the security of Arab countries is an integral part of Iraqi national security, emphasizing the interconnectedness of Arab security interests and the need to strengthen regional stability through dialogue and avoiding escalation.https://1news-iq.net/العراق-يؤكد-في-الجامعة-العربية-لا-للتص/
Foreign Minister: The War Has Expanded And We Reject The Use Of Our Territory For Attacks
Baghdad – One News 3/29/2026 Iraqi Foreign Minister Fuad Hussein confirmed that the ongoing war is no longer confined, but has expanded to several countries and different arenas, noting that Iraq is being subjected to attacks that affect its sovereignty from external and internal parties.
Hussein stressed that Baghdad is not in favor of war and constantly calls for resolving crises through dialogue and negotiations, while supporting any efforts aimed at calming tensions between the United States and Iran.
He explained that the conflict is no longer just military, but has extended to the economic sphere, warning of its serious repercussions on the global economy, stressing that Iraq condemns any attacks on other countries, as well as any aggression launched from its territory.
He added that Iraq is dealing with the repercussions of the war within its territory, at a time when the entire region has entered an atmosphere of conflict, stressing that the decision of war and peace is solely in the hands of the Iraqi government, as is the decision to defend the country.
He pointed out that Iraq does not consider itself to be at war with the United States and considers it a friendly country. He also described Iran as a neighboring and friendly country, reiterating his rejection of any attacks on the Gulf states.
He explained that there is ongoing communication with the American side to understand the internal Iraqi situation, with outstanding issues that must be resolved, stressing that no armed faction inside Iraq has the right to carry out attacks against any party, and that Baghdad stands against any aggression against any country.
https://1news-iq.net/وزير-الخارجية-الحرب-توسعت-ونرفض-استخد/
US Warning: Threats Of Attacks On Iraqi Universities And Criticism Of Baghdad
Baghdad – One News 3/29/2026 The US State Department warned of possible intentions by Iran and its allied militias to carry out attacks targeting sites inside Iraq, including universities in Baghdad, Sulaymaniyah and Dohuk that are seen as having ties to the United States.
The Foreign Ministry confirmed that these entities had previously targeted Americans and sites linked to Washington in various parts of Iraq, noting that the risk of attacks by missiles, drones and missiles still exists in Iraqi airspace.
Washington criticized the Iraqi government, arguing that it had failed to prevent terrorist attacks launched from Iraqi territory against American and regional targets. (this is the main problem - they did nothing but give lip srvice..!)