Iraq Economic News and Points To Ponder Tuesday Evening 6-30-26
Eram News: 42 Iraqi Officials Implicated With The "Revolutionary Guard" In Smuggling Iranian Oil Away From Washington's Sanctions
Baghdad - One News - 6/30/2026 Anti-corruption investigations have extended from Baghdad to Kermanshah, Iran, revealing a file involving more than forty Iraqi officials suspected of involvement with Revolutionary Guard officials in smuggling oil and providing transit routes away from US sanctions.
An informed source revealed to Eram News that the investigations are no longer limited to bribery, but are now focused on dismantling a cross-border financial and logistical network.
This prompted Iranian Foreign Minister Abbas Araqchi to travel quickly to Baghdad in an attempt to contain the repercussions of the case before it escalates into a political and legal crisis between the two countries.
These developments coincide with the arrest of dozens of Iraqi officials, most notably Deputy Oil Minister Ali Ma'araj al-Bahadli, whom Washington previously accused of facilitating the smuggling of Iranian oil by mixing it with Iraqi oil.
https://1news-iq.net/إرم-نيوز-42-مسؤولاً-عراقياً-تورطوا-مع-حر/
Iraq Announces Shift To Market Economy, Vows Complete Sovereign Monopoly On Force
Mohammed Jangadost Iraqi Prime Minister Ali Falih Al-Zaidi (right) speaks during an exclusive interview with the pan-Arab daily newspaper Asharq Al-Awsat.
In a comprehensive and wide-ranging interview with Asharq Al-Awsat, Iraqi Prime Minister Ali al-Zaidi laid out a sweeping legislative, military, and economic roadmap intended to fundamentally decouple the country from its post-2003 structural crises.
Al-Zaidi announced an upcoming "National Sovereignty Conference" slated for the end of this year, which will codify the state's exclusive monopoly on violence. Concurrently, he signaled a hard economic break from Iraq's socialist past, declaring an end to International Monetary Fund (IMF) borrowing and a push to revise the country's OPEC oil production quotas.
Dismantling the 'State Within a State'
Addressing the critical security bottleneck that has long plagued Iraqi sovereign independence, Prime Minister Al-Zaidi confirmed that the government has begun actively collecting stockpiles of heavy and medium weaponry from prominent paramilitary factions. Forces including Saraya al-Salam, Asa'ib Ahl al-Haq, and Kata'ib Imam Ali have already begun surrendering various arms assets to official state mechanisms.
"Resistance is a necessity, not a profession," Al-Zaidi stated, adding that the historical pretext for autonomous paramilitary operations has expired. "The government will no longer tolerate or accept the existence of a state within a state."
The Prime Minister emphasized that the true operational challenge goes beyond physical disarmament; it requires completely severing the command-and-control loops between political factions and individual fighters. To formalize this, the year-end National Sovereignty Conference will establish a strict legal framework banning all weapons outside of official state security apparatuses.
Addressing regional security concerns, Al-Zaidi stated that investigative committees have found no evidence linking recent cross-border attacks on Gulf states to Iraqi territory. He noted that commanders have been given strict directives to preemptively neutralize any unauthorized attempt to launch strikes from within Iraq.
[ National Sovereignty Conference ]
[ Paramilitary Disarmament ] [ Regional Security ]
• Sever command loops between factions & fighters • Absolute ban on cross-border strikes
• Surrender of heavy arms to state apparatus • Guarantee neutrality to Gulf neighbors
Institutional Anti-Corruption and Tech-Driven Clawbacks
Characterizing systemic graft as an existential threat to the Iraqi state rather than a mere administrative hurdle, Al-Zaidi described the emergence of a "deviant ideological system" fueled by competitive public looting.
To counter this, the Prime Minister has instructed the Ministry of Finance to open dedicated accounts designed strictly for the repatriation of stolen national capital. In an unprecedented move aimed at restoring public trust, Al-Zaidi announced that he will forgo his official state salary, refuse all diplomatic or corporate gifts, and has barred himself and his cabinet from running for a subsequent term or forming a political party.
Economic Shock Therapy: Moving to a Market Economy
On the economic front, Al-Zaidi outlined a profound philosophical transition away from decades of state-dominated, socialist-era economic frameworks, many of which stem from the outdated legal remnants of the dissolved Revolutionary Command Council.
Economic Metric / Initiative Strategic Action / Current Status
IMF Relations Complete exit; Iraq will no longer enter sovereign borrowing programs.
Liquidity & USD Shipments Fully resolved; cash liquidity issues have been stabilized via recent capital shipments.
Energy & Development Fund Newly established; open to public subscription and direct sovereign wealth investment from Saudi Arabia, the UAE, and Qatar.
The Prime Minister also targeted international energy policies, stating that Iraq’s current OPEC crude export quota fails to account for its massive population size, historical conflicts, or the immense financial toll the nation incurred while combating ISIS. Baghdad will seek a revised, equitable distribution mechanism within OPEC that accurately reflects its domestic economic realities.
Strategic Autonomy in Foreign Policy
Following an official state visit to Washington, the Prime Minister confirmed an upcoming diplomatic tour to Turkey, Saudi Arabia, and Iran, cementing an independent foreign policy that rejects external mandates.
Commenting on relations with the United States, Al-Zaidi noted that while the White House envoy presented no political demands, discussions successfully focused on sweeping away the dense bureaucratic hurdles that had previously frozen the operations of several major American corporations within Iraq. The streamlined regulatory landscape is part of a broader effort to invite Western, European, and Gulf Arab investment funds into the country's newly formed Energy and Development Fund.
"Nothing comes before Iraq for us," Al-Zaidi concluded. "It is in our people's interest to build an outstanding, transparent relationship with the international community based on mutual respect and shared economic development." Iraq Announces Shift to Market Economy, Vows Complete Sovereign Monopoly on Force https://channel8.com/english/news/60725
Al-Kadhimi Opens The File On The “Billion-Dollar Project That Never Became A Stadium”... Saudi Arabia Offered A Major Gift After The Basra Match, But The Dispute Between Eastern And Western Baghdad Turned The Project Into A Lost Opportunity
Baghdad - One News - 6/30/2026 In one of the most detailed accounts of the course of Iraqi-Saudi relations, former Prime Minister Mustafa Al-Kadhimi revealed, during his talk about the period in which he was head of the National Intelligence Service, that the idea of holding the historic match between Iraq and Saudi Arabia in Basra was not just a sports initiative, but came within a political and security track aimed at rebuilding trust between Baghdad and Riyadh after years of estrangement.
According to Al-Kadhimi, he personally presented the idea to Saudi Crown Prince Mohammed bin Salman during meetings held during the government of former Prime Minister Haider al-Abadi, based on his conviction that sports are capable of breaking the political deadlock and bringing people closer together.
Al-Kadhimi recounts that the match turned into a remarkable popular message, after the Basra International Stadium was filled with about 60,000 spectators, while tens of thousands remained outside its walls, amid chants from the fans: “Where are you, Green Team? Why are you late?” He considered that moment to have embodied the Iraqis’ thirst for their Arab depth.
He adds that the echoes of the match prompted the Saudi Crown Prince to contact him, informing him that King Salman would be making a call to then-Prime Minister Haider al-Abadi, and that the Kingdom had decided to present a gift to Iraq in the form of funding the construction of a new sports stadium worth one billion dollars.
But the surprise, according to Al-Kadhimi, is that the project was not hindered by the Saudi side, but rather by internal Iraqi disputes over the location of the stadium; one group insisted on building it in eastern Baghdad, while others insisted on building it in the west, so the initiative ended up being canceled before it saw the light of day.
According to Al-Kadhimi, this narrative represents one of the most prominent accounts linking diplomacy and sports. It offers a new explanation for the failure of a major investment and sports project that could have been a pivotal moment in developing sports infrastructure in Iraq, and it also highlights the impact of internal divisions in disrupting strategic projects.
https://1news-iq.net/الكاظمي-يفتح-ملف-المليار-الذي-لم-يصب/
Parliament Speaker Al-Halbousi Affirms That The Judiciary Will Resolve Corruption Cases And That No Member Of Parliament Will Have Immunity If Legal Charges Are Proven Against Them In The Future
Baghdad - One News - 6/30/2026 Parliament Speaker Hebat al-Halbousi confirmed in an interview with Al Arabiya that lifting the immunity of MPs under investigation does not mean they are guilty of corruption, and that the judiciary has the final say in confirming or denying the charges.
He explained that the arrests of those accused of corruption were carried out simultaneously due to the sensitivity of the operation, and that no clashes occurred between the raiding forces and the security personnel protecting the accused MPs.
Al-Halbousi explained in press statements that the MPs included in Operation Dawn of the Greater Charge against those accused of corruption will appear before the judiciary, and that legal procedures will include everyone and there is no immunity for the corrupt, stressing at the same time that there is an agreement between the government and the political blocs to restrict weapons to the hands of the state, and there will be no weapons outside the framework of the state by the thirty of September.
https://1news-iq.net/الحلبوسي-يؤكد-أن-القضاء-يحسم-قضايا-الف/
GCC Secretary General Visits Baghdad To Discuss Regional Developments And Halt Attacks By Factions On Gulf States
Baghdad - One News - 6/29/2026 A government source reported that the Secretary-General of the Gulf Cooperation Council, Jassim Mohammed Al-Badawi, will arrive in Baghdad on Tuesday afternoon for an official visit to discuss regional developments with Iraqi officials.
The source said that Al-Badawi's talks in Baghdad will address the Gulf states' declaration of support for Iraq in various fields, in addition to discussing security and political issues related to regional escalation.
He added that the meetings will emphasize the need to keep Iraq out of the war zone and to prevent the use of Iraqi territory to launch any attack on the Gulf states, as happened in the past, as part of efforts to stabilize the region and prevent the conflict from escalating. https://1news-iq.net/الأمين-العام-لمجلس-التعاون-يزور-بغداد/