Iraq Economic News and Points To Ponder Wednesday Evening 7-8-26

Government Advisor: No Change In The Dinar Exchange Rate Against The Dollar

Published on: July 9, 2026 at 12:19 AM Baghdad / Al-Mada  - The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, denied the existence of any plan or program by the Iraqi government to change the exchange rate of the dinar against the dollar, stressing that this matter has not been discussed in any way.

Salih said yesterday, Wednesday, in a press statement, that "the issue of the currency's value has not been discussed in any way," in response to rumors circulating about the possibility of changing the official exchange rate of the dinar against the dollar.

The Iraqi Prime Minister's advisor, Ali al-Zidi, pointed out that "recently, several official statements and declarations have been issued denying all claims about any discussion or intention to change the current exchange rate of the dinar."

These statements come at a time when rumors about changing the official exchange rate of the dinar against the dollar resurface periodically in the markets of Iraq and the Kurdistan Region.

The exchange rate of 100 US dollars was fixed at 130,000 Iraqi dinars in Iraq's three-year budget law for the years 2023, 2024, and 2025. https://almadapaper.net/442717/

Iraq Resumes Cash Dollar Shipments... But Experts Downplay Their Impact On The Market!

7/8/2026   Baghdad/Ahmed Kawkab    The Prime Minister's financial advisor, Mazhar Muhammad Salih, confirmed on Tuesday that Iraq has resumed receiving shipments of US dollars in cash, with each shipment amounting to approximately $500 million.

He explained that the regularity of these shipments strengthens the stability of the parallel market, affirms Baghdad's commitment to international compliance standards, and contributes to narrowing the gap with the official exchange rate, following a period of anxiety that accompanied regional developments.

 However, some experts believe that these shipments do not significantly impact the exchange rate, and that their previous suspension was more related to air transport issues than to any financial or political disputes.

Salih told Al-Mada newspaper, "These cash dollar shipments do not represent new funds, but rather are drawn from the Central Bank of Iraq's reserves deposited with the Federal Reserve Bank of New York, and are allocated to cover travelers' needs." He added, "The percentage of cash dollars does not exceed about 10% of total foreign transfers, and each shipment amounts to approximately $500 million, which is sufficient to meet normal demand."

He explained that “the regularity of these shipments is linked to Iraq’s full commitment to international compliance standards,” noting that “the Central Bank of Iraq is among the most cooperative institutions with the US Federal Reserve and the US Treasury Department in matters related to combating money laundering and terrorist financing.” He denied the validity of rumors about violations or exceptional restrictions imposed on Iraq.

Saleh revealed that “transporting cash dollars to Iraq is one of the most complex logistical operations, as it is carried out via private aircraft and under strict security and safety measures.” He explained that “these operations are executed according to precise arrangements that ensure the safety of the shipments until they reach the Central Bank.”

He pointed out that “the continued arrival of cash dollar shipments sends a positive signal to the parallel market and dispels rumors that disrupt exchange rates.”

He considered that “increasing the level of certainty among traders gradually leads to a narrowing of the gap between the official rate of 1,320 dinars per dollar and the parallel market rate, because the sustainability of compliance and the regularity of shipments are among the most important factors for the stability of the exchange market in Iraq.”

Saleh explained that “the dollar, despite being part of Iraq’s reserves, remains subject to US monetary policy and laws as it is the currency of another country.” He clarified that “the United States stipulates that its currency not be used in a manner that contradicts its foreign policy or national security, which requires countries dealing in dollars to adhere to international compliance standards.”

He added that “the decline in demand for cash dollars during the past period coincided with the security conditions in the region, as questions were raised in the United States about the continued need for shipments given the decline in travel, before supply operations returned to normal as Iraq continued to comply with international regulations.”

Saleh pointed out that “the purchase of cash dollars by travelers is currently subject to a comprehensive monitoring system through the FTR platform, which tracks international financial transfers and transactions. The data of each beneficiary is recorded accurately, including personal information and fingerprints, to prevent duplicate purchases or misuse of cash dollars.” He explained that “each traveler receives $3,000 per month for each trip through Iraqi airports.”

He added that “electronic financial transfers are already subject to strict international oversight through global banking systems, but cash dollars require additional procedures due to the sensitivity of their circulation.”

He explained that this “led to the adoption of advanced tracking systems that give Iraq a positive image before international institutions concerned with combating money laundering and the financing of terrorism.”

Saleh believes that “the development of economic relations between Baghdad and Washington, especially the Prime Minister’s upcoming visit to the United States, will positively impact the level of trust between the two sides and contribute to the stability of financial transactions.” He considers that “an improved financial climate directly impacts the stability of the local market.”

In a related context, specialists believe that linking these shipments to exchange rate fluctuations, or interpreting their suspension as a crisis with the United States, is not based on realistic data, but rather is related to air transport conditions and the security developments witnessed in the region.

Economic expert Duraid al-Anzi told Al-Mada that "the cash dollars shipped from the United States have no bearing on the Iraqi market, neither influencing the dollar's price nor its daily transactions. They do not enter the local market directly or indirectly because the incoming funds remain within the state's financial cycle and do not act as a tool to influence supply and demand within the markets."

He pointed out that "the claims made recently about a problem between Baghdad and Washington due to the halt in shipments were not supported by any official indicators," expressing surprise at "the talk of a crisis without any statement or position from either the US or Iraq confirming its existence." He considered the "suspension of civilian air traffic in the region during the war to be the natural reason behind the delay in the arrival of the shipments."

Al-Anzi added that "the resumption of dollar shipments coincided with the end of military operations and the resumption of air traffic," asking, "Were there any new meetings, understandings, secret communications, or political pressures?

We haven't heard of anything of the sort." He concluded that "interpreting the resumption of shipments as a result of a political breakthrough with the United States is an inaccurate reading of reality."

He explained that “the funds arriving in Iraq are part of its oil revenues and reserves deposited with the US Federal Reserve, and are transferred according to financial mechanisms that have been in place for years.” He clarified that “the shipping process is subject to continuous auditing and monitoring procedures and does not represent a new or exceptional financial resource.”

Al-Anzi believes that “the recent increases in the dollar exchange rate are due to increased demand from entities seeking to smuggle funds, which has created an artificial supply and demand crisis within the parallel market.” He emphasized that “this crisis is fabricated and is not related to the suspension of cash dollar shipments,” noting that “regional tensions, including talk of closing the Strait of Hormuz, were not sufficient on their own to cause these jumps in the exchange rate.”

He pointed out that “discussions about the value of the shipments should be understood within the context of government needs, and that the funds are transported by private planes in periodic installments as requested, with the cost of transportation being one million dollars, while transportation and insurance operations are subject to precise financial and logistical procedures.” He affirmed that “there is no fundamental change in the mechanism for supplying Iraq with dollars.”

He added that “the incoming funds are deposited into the accounts of the Central Bank and the government, and are included in the general budget,” while simultaneously warning that “a portion of these funds was previously subject to smuggling or misuse, which prompted the financial authorities to tighten control and tracking procedures.” He considered that “confronting this phenomenon represents the real challenge, not the regularity of dollar shipments themselves.”

Al-Anzi explained that “the stability of the Iraqi market will not be achieved simply by the arrival of dollar shipments, but rather requires addressing the internal imbalances that fuel the parallel market, tightening control over the movement of funds, and combating corruption and smuggling networks.”

He emphasized that “cash dollars are more closely linked to the budget and its allocations than to the activity of the local market, and that what happened during the past period was essentially a result of the suspension of civil aviation, not a result of political or financial disputes with the United States.” https://almadapaper.net/442545/

Minister Of Finance: We Are Continuing To Prepare The Draft 2027 Budget Law In Preparation For Submitting It To The Cabinet.

Baghdad ( NINA ) – Finance Minister Faleh al-Sari confirmed on Tuesday that the ministry is continuing to prepare the draft federal budget law for 2027, in preparation for submitting it to the Council of Ministers and then referring it to the Council of Representatives in the coming period.

A ministry statement indicated that "the Parliamentary Finance Committee, chaired by MP Uday Awad and attended by its members and a number of members of other parliamentary committees, hosted Finance Minister Faleh al-Sari and senior ministry officials today to discuss the financial and economic situation and the mechanisms for preparing the draft federal budget for 2027."

The statement added that "at the beginning of the meeting, the committee chairman welcomed the Finance Minister and senior officials, emphasizing the importance of strengthening cooperation and coordination between the legislative and executive branches to ensure the integration of roles in legislation and oversight, and to contribute to improving institutional performance."

The head of the Finance Committee affirmed, according to the statement, that "the committee is committed to supporting and enacting laws that contribute to addressing financial challenges, developing non-oil resources, and enhancing the state's financial sustainability.

" The statement continued, "During a meeting held at its headquarters, the Finance Committee listened to a detailed explanation of the country's financial and economic situation, with an emphasis on implementing appropriate solutions through legislation that ensures economic stability."

The Minister of Finance praised the Finance Committee's role in preparing the general budgets and exercising its oversight function, as well as its contribution to enacting laws related to financial and economic affairs.

He explained that "the ministry has set a number of priorities, foremost among them the automation of the ministry's operations, the establishment of a specialized body, and the adoption of a gradual transition from line-item budgeting to program-based budgeting."

Al-Sari indicated that "the 2027 budget proposal includes a phased plan for implementing program and performance-based budgeting, starting with a number of governorates as a pilot program, to be gradually expanded to include all of Iraq's governorates."

He reviewed the ministry's plan to repay public debt by reorganizing dealings with banks affiliated with the ministry, which will contribute to reducing the debt burden, enhancing financial stability, and supporting

The statement continued, "The meeting discussed mechanisms for maximizing public revenues and activating the ASYCUDA system, which contributes to raising the efficiency of customs administration and increasing state resources. It also explored the possibility of amending several related laws and working to establish a development fund and an energy fund to boost revenues and support the public treasury." The

meeting concluded with extensive discussions among committee members regarding financial and economic matters, emphasizing the importance of adopting solutions and procedures that achieve the public interest and enhance financial and economic stability in the country, in addition to finding appropriate solutions for the issue of contracts and daily wages. /End 8. https://ninanews.com/website/News/Details?key=1304720

Seeds of Wisdom RV and Economics Updates Wednesday Evening 7-8-26

Good Evening Dinar Recaps,

Fed Minutes Reveal Deep Policy Divide as Middle East Tensions Add New Inflation Risks 

Newly released Federal Reserve meeting minutes show policymakers are increasingly divided over the path of interest rates, while renewed Middle East tensions and rising oil prices add fresh uncertainty to the global economic outlook.

Overview 

• Federal Reserve officials remain divided over whether inflation is easing enough to justify future rate cuts, according to minutes released today.

• Renewed U.S.-Iran tensions pushed oil prices sharply higher, increasing concerns that inflationary pressures could persist.

• Global investors are reassessing monetary policy expectations, as higher energy costs could delay interest-rate reductions and influence financial markets worldwide.

Key Developments 

1. Fed Officials Split on Inflation Outlook

Minutes from the Federal Reserve's latest policy meeting reveal a clear divide among policymakers. Some officials believe inflation will continue moderating, while others expect persistent price pressures that could require higher interest rates for longer.

2. Oil Prices Complicate the Inflation Picture

Markets reacted quickly after renewed tensions between the United States and Iran drove oil prices significantly higher. Rising energy costs could feed into transportation, manufacturing, and consumer prices, making the Fed's inflation challenge more difficult.

3. Markets Reprice Interest-Rate Expectations

Global stocks weakened while bond yields and the U.S. dollar strengthened as investors adjusted expectations for future monetary policy. Markets now anticipate that any decline in interest rates may occur more slowly if inflation remains elevated.

4. Energy Security Remains a Global Financial Risk

The renewed instability surrounding the Strait of Hormuz has reminded investors how quickly geopolitical events can affect global energy supplies, inflation, and economic growth. Although markets are not yet pricing in a prolonged disruption, uncertainty remains elevated.

5. Global Reset Themes Continue to Converge

Today's developments illustrate how central bank policy, geopolitical risk, inflation, and energy markets continue to interact. Financial markets are increasingly responding to these interconnected forces rather than to isolated economic data alone.

Why It Matters 

Interest-rate policy remains one of the most powerful drivers of the global financial system. If inflation remains elevated because of higher energy costs or geopolitical instability, central banks could delay easing monetary policy, affecting borrowing costs, investment, and economic growth worldwide.

Why It Matters to Foreign Currency Holders 

Currency values are heavily influenced by interest-rate expectations and inflation. Any delay in future rate cuts or renewed market volatility could affect exchange rates, capital flows, and the timing of broader monetary and financial reforms.

Implications for the Global Reset 

• Pillar 1 – Debt

Higher-for-longer interest rates would increase borrowing costs for governments, businesses, and consumers, adding further pressure to already elevated global debt levels.

• Pillar 5 – Energy

Renewed uncertainty in the Middle East demonstrates how energy markets continue to influence inflation, monetary policy, and global financial stability, making energy security a critical factor in the evolving financial landscape.

This is not just about today's Federal Reserve meeting minutes—it highlights how central bank policy, geopolitical developments, and energy markets are increasingly shaping the transition toward a new global financial environment.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters – Stocks, bonds retreat after Trump says Iran MOU "is over"

• Associated Press – Fed minutes show officials deeply divided over future path of U.S. inflation

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RATE HIKE SHOCK: This Triggers The 60% Market Crash | Todd "Bubba" Horwitz

RATE HIKE SHOCK: This Triggers The 60% Market Crash | Todd "Bubba" Horwitz

Liberty and Finance:  7-7-2026

Todd "Bubba" Horwitz explains why he believes gold and silver have already formed an important bottom and why long-term investors may want to start accumulating physical precious metals now.

He also breaks down the AI-fueled stock market surge and warns that rising interest rates could be the catalyst for a sharp correction in equities.

The conversation covers the Federal Reserve, inflation, and the housing market, along with why higher Treasury yields may ultimately strengthen the long-term case for gold.

Todd also shares the key economic signals he is watching in the weeks ahead and what could matter most as markets face growing uncertainty. This interview offers a timely look at the forces shaping precious metals, stocks, and the broader economy.

INTERVIEW TIMELINE:

0:00 Intro

1:00 Gold & silver bottom?

9:44 Kevin Warsh & rates

https://www.youtube.com/watch?v=7f6wN6nQYqY

Seeds of Wisdom RV and Economics Updates Wednesday Afternoon 7-8-26

Good Afternoon Dinar Recaps,

Trump Ends Iran Ceasefire Framework as Markets Brace for Oil Shock 

Renewed tensions in the Middle East are rippling through global markets after President Donald Trump declared the U.S.-Iran memorandum of understanding "over," sending oil prices higher and increasing concerns about inflation, monetary policy, and global growth.

Overview 

• President Trump announced that the U.S.-Iran memorandum of understanding has ended, reigniting uncertainty over Middle East stability.

• Oil prices surged more than 5%, while global stock markets declined as investors shifted toward safer assets.

• Investors are now watching Federal Reserve policy closely, as rising energy prices could complicate inflation and future interest-rate decisions.

Key Developments

1. Trump Declares Iran Agreement Over

President Trump announced that the memorandum of understanding that had provided the framework for ending hostilities with Iran was no longer in effect. The statement immediately increased geopolitical uncertainty and raised concerns about renewed conflict in the Gulf.

2. Oil Prices Jump on Supply Concerns

Brent crude oil climbed more than 5% as traders reacted to fears that renewed tensions could disrupt energy supplies moving through the Strait of Hormuz, one of the world's most important oil shipping routes.

3. Global Markets Turn Risk-Off

Equity markets weakened while investors moved toward traditional safe-haven assets. Higher energy prices renewed concerns that inflation could remain elevated longer than previously expected.

4. Federal Reserve Outlook Becomes More Complicated

Markets are awaiting the release of the Federal Reserve's meeting minutes for clues about future monetary policy. Rising oil prices could make it more difficult for policymakers to ease interest rates if inflation begins accelerating again.

5. IMF Warns Central Bank Communication Is Becoming More Important

Separately, the International Monetary Fund said it plans to engage with central banks regarding changes to monetary policy communication and forward guidance, emphasizing that clear communication becomes increasingly important during periods of geopolitical and economic uncertainty.

Why It Matters 

Geopolitical instability can rapidly affect energy prices, inflation, financial markets, and central bank policy. Today's developments demonstrate how closely global finance remains tied to events in the Middle East and why investors continue monitoring both geopolitical risks and monetary policy.

Why It Matters to Foreign Currency Holders

Foreign currency investors should watch oil prices and central bank decisions carefully. Rising energy costs can strengthen inflation, influence interest-rate policy, increase currency volatility, and affect capital flows across global financial markets.

Implications for the Global Reset 

• Pillar 1 – Debt

Higher oil prices may delay interest-rate reductions, increasing borrowing costs for governments, businesses, and consumers while adding pressure to already elevated sovereign debt levels.

• Pillar 5 – Energy

Renewed uncertainty surrounding the Strait of Hormuz highlights how energy security remains a critical driver of inflation, financial stability, and global economic growth.

This is not just about renewed Middle East tensions—it demonstrates how geopolitical events, energy markets, and central bank policy remain deeply interconnected in shaping the evolving global financial system.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources 

Reuters – Wall Street jittery and oil up as Trump says interim Iran deal "over"

• Reuters – IMF says hopes to engage on central banks' changes to forward guidance‍ ‍

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Iraq Economic News and Points To Ponder Wednesday Morning 7-8-26

Oil Prices Pressure Iraq’s Foreign Reserves, Experts Warn

2026-07-07 19:36    Shafaq News- Baghdad   Iraq's foreign currency reserves have fallen 12 percent in two years and remain at risk of further decline if oil prices drop below $60 per barrel, according to experts who spoke to Shafaq News on Tuesday. The reserves stood at $97.8 billion in late April 2026, down from $111.7 billion at the end of 2023, driven by the government's heavy dependence on oil revenues rather than diversified income streams.

Political science professor Najm Abdul Tarish warned that if oil prices remain between $55 and $60 per barrel, while government spending stays elevated, Iraq's foreign reserves could come under pressure.

“Funds are unlikely to decline sharply in the near term but could gradually erode if oil income continues to fall without meaningful economic reforms,” he told Shafaq News, suggesting that protecting them requires diversifying the economy, increasing non-oil returns, and encouraging investment and domestic production rather than relying solely on oil, Tarish argued.

According to former CBI Director General Mahmoud Dagher, the impact of foreign currency reserves on ordinary Iraqis is indirect, and most felt when speculation drives up demand for US dollars or confidence in the market weakens.

He said rumors about the economy or Iraq's oil exports often prompt citizens and traders to buy dollars, increasing demand and pushing up exchange rates on the parallel market. Because Iraq relies heavily on imports, any rise in the dollar's value ultimately increases the cost of imported goods and weakens the purchasing power of the dinar.

Speaking to Shafaq News, expert Mohammed Al-Hassani noted that the Central Bank of Iraq (CBI) does not use its holdings to finance the state budget. Instead, the funds are used to maintain monetary stability, support the Iraqi dinar's exchange rate, secure US dollars for imports, and strengthen investor confidence in the country's economy. He added that part of the reserves is invested in safe, highly liquid financial instruments held by international institutions to preserve their value and ensure they remain readily available when needed.

Despite the concerns, the Prime Minister's Financial Adviser, Mudhir Mohammed Saleh, told Shafaq News that the CBI's foreign currency reserves remain within safe levels under international standards, covering about 12 months of Iraq's imports compared with the global benchmark of three months. “The reserves give the Central Bank significant room to intervene in the foreign exchange market and support the dinar, while noting that exchange rate stability also depends on oil prices, government revenues, the efficiency of the banking sector, and confidence in the economy.

Read more: Iraqi experts divided on reviving the oil-reliant economy

https://www.shafaq.com/en/Economy/Oil-prices-pressure-Iraq-s-foreign-reserves-experts-warn

Oil Jumps Nearly 2% After US Strikes On Iran

2026-07-07 23:42    Shafaq News  Oil prices climbed nearly 2% on ​Wednesday after the U.S. military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile ‌truce was unravelling and Middle East supplies could be disrupted again.

The U.S. airstrikes were in response to Iranian attacks on three commercial vessels that were transiting the Strait of Hormuz, U.S. Central Command said on Tuesday. The strait is a key waterway for the transport of Middle Eastern ​oil shipments to wider markets.

Brent crude futures gained $1.38, or 1.9%, to $75.54 a barrel, and U.S. West Texas Intermediate ​crude climbed to $71.81 a barrel, up $1.37, or 1.9% at 0128 GMT.

Both benchmarks rose about 3% on ⁠Tuesday after the U.S. revoked the general licence authorising the sale of Iranian crude following the Iranian attacks.

"The current conflagration ​is a reminder to the market of how fragile passage through the Strait still is," said Saul Kavonic, head of research ​at MST Marquee.

"This presents a contrary indicator to the prevailing sentiment that the market could be flooded into oversupply, which may scare some of the record short positioning to cover," he said, adding that if tensions persist and traffic through the waterway remains below 50% of ​pre-war levels, the resulting supply constraints could support higher oil prices.

After the U.S. and Iran signed their truce agreement ​last month, oil prices tumbled back to pre-war levels and traders amassed large short positions in oil futures, or bets that prices would fall further.

Expectations ‌of ⁠a wave of pent-up Middle East supply coming onto the market caused the price declines.

Iran did not take responsibility for the vessel attacks but Qatar blamed Iran for them, including one on a Qatari liquefied natural gas tanker, which reported being struck by a drone that caused a fire in its engine room.

A Saudi-flagged crude oil tanker, believed to be the supertanker Wedyan, was also ​damaged off Oman, maritime security ​sources said. The cause ⁠was not immediately clear.

The attacks renewed concerns about tanker traffic through the Strait of Hormuz, which carried cargoes equal to about one-fifth of global energy supply before the war began in February.

Iran ​is asserting its control of the Strait and has ordered ships to use a route ​closer to its ⁠coast rather than one nearer to Oman, which also borders the waterway. The U.S. insists the waterway must remain free to all as it was before the conflict started.

Since the war started, nations have drawn down their inventories to make up for ⁠the supply ​shortfall. U.S. crude oil inventories fell again last week, market sources said on Tuesday, ​citing data from the American Petroleum Institute. Analysts polled by Reuters had expected crude stockpiles to decline by about 2.4 million barrels in the week ended July ​3. 

(REUTERS) https://www.shafaq.com/en/Economy/Oil-jumps-nearly-2-after-US-strikes-on-Iran

Basrah Crudes Plunge Despite Global Futures Rally

2026-07-08 02:30    Shafaq News- Basrah   Iraq's Basrah crude led losses among OPEC grades on Wednesday, plunging more than 25%, even as major global benchmarks moved higher.

Basrah Heavy crude dropped to $45.37 per barrel, losing $15.39, or 25.33%, while Basrah Medium crude fell to $47.47 per barrel, down $10.39, or 17.96%.

Brent crude futures gained $1.92, or 2.6%, to $76.08 a barrel at 0400 GMT, while US West Texas Intermediate crude climbed $1.82, or 2.6%, to $72.26 a barrel.

UAE's Murban crude advanced 3.39% to $71.31 per barrel, while Saudi Arabia's Arab Light crude tumbled 13.70% to $65.31, and Kuwait Export Blend dropped 13.13% to $69.01. OPEC's basket data showed a wider divergence between futures contracts and physical crude grades tied to pricing differentials across crude types.

https://www.shafaq.com/en/Economy/Basrah-crudes-plunge-despite-global-futures-rally

EIA: Iraq's Crude Oil Exports To US Fall In June

2026-07-08 06:46 Shafaq News- Washington  Iraq's crude oil exports to the United States fell to 1.35 million barrels in June, down from 1.625 million barrels in May, according to the US Energy Information Administration (EIA).

EIA reported that Iraq exported an average of 107,000 barrels per day during the first week of June, exports fell to zero in the second week, recovered to an average of 71,000 barrels per day in the third week, and returned to zero in the fourth week.

The volatile pattern reflects ongoing disruptions to Iraqi crude shipments amid regional instability. Iraq ranked eighth globally among countries exporting crude to the United States in June, behind Canada, Venezuela, Mexico, Colombia, Ecuador, Brazil, and Saudi Arabia.

Among Arab oil exporters to the US, Iraq held second place. Saudi Arabia led with 2.04 million barrels for the month, while Libya ranked third among Arab nations with 1.11 million barrels.

https://www.shafaq.com/en/Economy/EIA-Iraq-s-crude-oil-exports-to-US-fall-in-June

USD/IQD Exchange Rates Climbs In Baghdad, Erbil

2026-07-08 04:05    Shafaq News- Baghdad/ Erbil    The US dollar rose in Baghdad and Erbil on Wednesday, trading around 153,500 Iraqi dinars per $100.

According to a Shafaq News market survey, the dollar traded at 153,650 dinars per $100 at Baghdad's Al-Kifah and Al-Harithiya central exchanges, up from 153,000 dinars on Tuesday's trading.

In the Iraqi capital, exchange shops sold the dollar at 154,000 dinars and bought it at 153,000 dinars.

In Erbil, the dollar traded higher, with selling prices reaching 153,700 dinars per $100 and buying prices at 153,600 dinars.

https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-climbs-in-Baghdad-Erbil-7

Seeds of Wisdom RV and Economics Updates Wednesday Morning 7-8-26

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Trump Orders Halt to U.S. Trade With Spain at NATO Summit 

Growing tensions over NATO defense spending and Spain's position during the Iran conflict have escalated into a major trade dispute, raising new questions about alliance unity and transatlantic economic relations.

Overview 

• President Donald Trump announced he ordered Treasury Secretary Scott Bessent to halt U.S. trade with Spain following disagreements over NATO defense commitments.

• Spain has refused to adopt NATO's new 5% defense spending target and declined to support certain U.S. military operations during the Iran conflict.

• The dispute highlights growing divisions within NATO at a time when the alliance is attempting to strengthen collective security amid rising global geopolitical risks.

Key Developments

1. Trump Announces Trade Action Against Spain

President Trump stated during the NATO Summit in Ankara that he had instructed Treasury Secretary Scott Bessent to stop trade with Spain, calling the country a "terrible partner." The remarks marked one of the strongest public criticisms of a NATO ally during the summit.

2. Defense Spending Dispute Reaches New Level

Spain continues to reject NATO's new goal of spending 5% of GDP on defense and related security investments, maintaining that its existing military contributions adequately fulfill alliance obligations. Washington argues that all allies must increase spending to strengthen collective deterrence.

3. Iran Conflict Deepened Political Differences

Relations deteriorated further after Spain reportedly declined to allow U.S. forces to use certain Spanish military facilities and airspace during operations connected to the Iran conflict. The disagreement intensified longstanding debates over burden-sharing within the alliance.

4. Strategic Military Cooperation Faces New Questions

Despite the political dispute, Spain remains home to critical U.S. military installations, including Naval Station Rota and Morón Air Base, both of which support NATO operations throughout Europe, the Mediterranean, and the Middle East. No immediate military changes have been announced.

5. Markets Watch for Policy Follow-Through

While Trump's announcement immediately attracted global attention, investors are now watching whether formal trade restrictions will actually be implemented. Any significant disruption in U.S.-Spain trade could affect broader European economic sentiment and alliance cooperation.

Why It Matters

Trade disputes between major allies can influence global markets, supply chains, and geopolitical stability. If tensions between Washington and Madrid escalate further, the disagreement could extend beyond defense policy into broader economic and diplomatic relations across Europe.

Why It Matters to Foreign Currency Holders

Foreign currency investors closely monitor geopolitical tensions because they can influence currency values, trade flows, investor confidence, and central bank policy. Increased uncertainty among major Western allies may contribute to market volatility while reinforcing demand for safe-haven assets such as the U.S. dollar and gold.

Implications for the Global Reset 

• Pillar 2 – Trade

Growing trade tensions between the United States and Spain highlight how geopolitical disagreements can influence international commerce, supply chains, and cross-border investment.

• Pillar 5 – Energy

Spain's strategic military and geographic position within NATO affects broader European security and energy logistics, making alliance cooperation increasingly important for regional stability.

This is not just about a dispute between allies—it reflects how defense commitments, trade policy, and geopolitical strategy are becoming increasingly interconnected in shaping the future global economic and security landscape.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters – NATO Summit coverage and U.S.-Spain defense spending dispute

• Modern Diplomacy – Trump Orders Halt to US Trade With Spain at NATO Summit

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🌱 A Message to Our Currency Holders🌱

If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.

What failed was not your patience — it was the information you were given.

For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.

That is not your failure.

Our mission here is different:   • No dates • No rates • No hype • No gurus

Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process

Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.

You will see silence. You will see denials. That is not delay — that is discipline.

Protect your identity. Organize your documents.    Verify everything.
Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

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Wednesday Iraq News Posted by Tishwash at TNT 7-8-2027

TNT:

Tishwash:  The World Bank commends Iraq's steps in modernizing its public budget preparation tools.

On Tuesday, Deputy Minister of Finance Ali Karim met with a World Bank delegation headed by Samer Mata to discuss modernizing public financial management.

The Ministry of Finance stated in a press release received by the Video News Agency that the meeting reviewed the Ministry's progress in transitioning from line-item budgeting to program and performance-based budgeting.

This included preparing implementation documents and templates, and identifying requirements for developing systems, schedules, and electronic displays in the Budget and Accounting Departments. These improvements aim to support digital transformation and enhance oversight, governance, and the efficiency of public spending.

The statement added that the Ministry emphasizes the importance of the technical support provided by the World Bank in this process. It also stressed the need to form a specialized national team from within the Ministry to oversee implementation, train spending units, and ensure a gradual and effective transition to program and performance-based budgeting.

For its part, the World Bank delegation commended the Ministry of Finance's steps in modernizing budget preparation tools and developing financial management systems. The delegation affirmed its readiness to provide the necessary technical expertise to support the project and establish more efficient and transparent modern financial practices.  link

Tishwash:  Parliamentary move to resolve the cabinet formation issue during upcoming sessions

 MP Abbas Al-Maliki stressed on Wednesday that the delay in completing the cabinet does not serve the political process, calling on political blocs to expedite the resolution of this issue and send the names of the remaining ministers to the House of Representatives for a vote.

Al-Maliki told Al-Maalomah News Agency that “the delay in completing the cabinet does not serve the political process and affects the government’s work and the implementation of its program,” indicating that “the House of Representatives informed the political blocs of the need to reach an agreement and send the names of the remaining ministers in preparation for voting on them.”

He added that "political activity is still ongoing among political forces in order to reach understandings regarding the vacant ministries."

Al-Maliki indicated that "there is a move to resolve the issue of completing the cabinet during the upcoming sessions of the Council of Representatives, which will contribute to finalizing the government formation and closing this file." link

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Tishwash:  Visit to Washington: An economic gamble to boost investment

All eyes are on the upcoming visit of Prime Minister Ali al-Zubaidi to the American capital, Washington, amid expectations that it will be an important step in strengthening economic relations between Iraq and the United States, and opening new horizons for foreign investments, especially in vital sectors that are relied upon to diversify the national economy and reduce dependence on oil revenues.

The visit also represents an important milestone in the course of Iraqi-American relations, as it holds opportunities to enhance political, economic, and security cooperation, in addition to raising national and humanitarian issues of concern to the various components of the Iraqi people. This is confirmed by MP Khalid Sido, a member of the Parliamentary Security and Defense Committee, in an interview with Al-Sabah newspaper, where he indicated that Al-Zidi's anticipated visit to Washington represents an important opportunity to strengthen relations between Iraq and the United States, expressing his hope that its results will reflect positively on stability and economic development in Iraq.

Sido stressed the importance of the visit carrying a humanitarian message that confirms the state’s concern for all its components, emphasizing the need to address outstanding humanitarian issues.

He pointed out that the success of the visit should be measured by the gains it achieves for Iraq through the establishment of a genuine partnership based on respect for Iraqi sovereignty and non-interference in internal affairs, while preserving the independence of national decision-making. Sido indicated that Iraq possesses an important geographical location and great wealth that qualifies it to be an economic and strategic center in the region, expressing his hope that the visit will contribute to supporting security and stability and opening up broader horizons for economic and investment cooperation, which will reflect positively on the citizens and the Iraqi economy.

Furthermore, economic experts believe that the success of the visit will not be measured solely by the number of agreements that may be signed, but rather by Iraq's ability to convey a clear message to American investors and decision-makers that the country now possesses a more receptive environment for investments, and that it is moving towards building long-term economic partnerships that achieve common interests.

Professor of International Economics, Dr. Nawwar Al-Saadi, affirms that the most prominent economic message that the Iraqi delegation should carry is that Iraq is no longer looking for relations based on aid, but rather seeks sustainable investment partnerships based on mutual benefit.

 Al-Saadi points out that Iraq has promising opportunities in the energy, gas, petrochemical, infrastructure, digital transformation, agriculture and manufacturing sectors, which are areas capable of generating rewarding returns for investors.

Al-Saadi adds to “Al-Sabah” that enhancing investor confidence requires providing clear messages regarding the continuation of economic reforms, improving the business environment, simplifying administrative procedures, enhancing governance and transparency, as well as protecting investments and continuing efforts to combat corruption, stressing that capital seeks first stability and legal guarantees before seeking profits.

The spokesperson added that it is also necessary to highlight Iraq’s orientations towards diversifying sources of income and expanding the role of the private sector, which would allow American companies the opportunity to enter as a partner in the development process, and not just as an implementer of projects. He pointed out that presenting a clear investment map supported by implementation mechanisms and legal guarantees will enhance the international community’s confidence in the Iraqi economy and open the door to quality investments that contribute to technology transfer, job creation, and economic growth.

For his part, economic researcher Ahmed Al-Ansari affirms that the Prime Minister’s visit to Washington represents an important opportunity to strengthen the economic partnership between Iraq and the United States, explaining that its success may contribute to attracting American and foreign investments to the energy, electricity, industry, infrastructure and technology sectors.

Al-Ansari adds that reaching economic understandings and agreements and sending reassuring messages to investors will enhance confidence in the Iraqi economy and encourage international companies to enter the local market, but he stressed at the same time that achieving these gains remains dependent on Iraq’s ability to improve the investment environment, consolidate stability, and accelerate economic and administrative reforms, in order to ensure that agreements are transformed into real productive projects that support economic diversification and provide new job opportunities.

Experts agree that the upcoming visit represents an opportunity to enhance Iraq’s economic standing regionally and internationally. However, its success requires following up on the implementation of any understandings and agreements that may result from it, and transforming them into tangible projects that contribute to achieving economic development, raise the level of confidence in the national economy, and support the government’s direction towards building a more diversified and stable economy.  link

Tishwash:  More than just protocol: Radical shifts drive Al-Zaidi's visit to Washington this month!

Introduction: Iraq stands at a new crossroads in the corridors of international diplomacy.

Visits by heads of state are often dismissed as routine protocol procedures filled with forced smiles, but Iraqi Prime Minister Ali Zaidi's visit to Washington in mid-July breaks this mold. In the aftermath of the "Iran 2026 War" and the fragility of the "Islamabad Memorandum," Zaidi carries not merely investment requests, but a "sovereignty first" doctrine. It is a bold attempt to transform Iraq from a regional arena of attrition into a "vital hub" that neither Washington nor the global economy can ignore.

First: Hunting the “Big Fish” – When bullets and money speak, al-Zaidi’s journey didn’t begin in Washington, but rather in the streets of Baghdad on the still night of the 28th of last month. That night, counterterrorism forces shattered the status quo with swift raids targeting bastions of nepotism. This wasn’t a political “show,” but the first wave of the “50 Whales” list identified by the Supreme Sovereign Council for Integrity.

The operation resulted in the arrest of 47 high-ranking officials, including parliamentarians and governors, and the seizure of large sums of cash hidden in private safes. For al-Zaydi, this move was domestic “political suicide,” but in Washington, it was a strategic “credit card”; it was the only message capable of persuading the US Treasury to lift restrictions on Iraqi banks and translate promises of integrity into concrete reality.

“Al-Zaidi’s categorical refusal of a $200 million bribe from an oil tycoon has become the ‘founding statement’ of his administration, and the moral cornerstone with which he confronts skeptics in the White House, declaring the end of the era of ‘money for silence’.”

Second: The “OPEC Surprise” – Iraq brandishes its surplus weapon in a high-stakes geopolitical poker game. Al-Zaidi holds a card that could redraw the global energy map: the threat to suspend Iraq’s membership in OPEC. This is not merely a threat to increase production; it is a carefully crafted pressure tactic to extract US recognition of the “Joint Energy and Development Fund.”

By threatening to pump 7 million barrels per day, al-Zaidi presents Washington with two equally unpalatable options: either engage in supporting the Iraqi infrastructure fund on favorable terms, or face an oil flood that could destabilize energy prices and traditional oil alliances. Al-Zaidi is not asking for aid; he is trading the stability of the global market for funding for the “new Iraq.”

Third: “Securing the Future” – Iraq as a Global Reserve Hub. After the 2026 war exposed the vulnerability of the Strait of Hormuz, al-Zaidi proposes Iraq as a “global reserve hub” for energy, representing a geopolitical “insurance policy” for the West. The race here is not only economic but also a race against time, as Turkey is pushing for a new agreement for the Nord Stream pipeline by a deadline this month.

Through the “Development Road” and the Nord Stream pipelines, al-Zaidi seeks to create a reliable overland alternative, offering the United States three strategic advantages:
Neutralizing the Strait’s vulnerability: ensuring the flow of oil away from regional maritime threats.
The return of the giants: providing security and political guarantees for American energy companies to return to work within a unified legal framework between Baghdad and Erbil.
Lasting stability: transforming Iraq from a “corridor of wars” into a “lifeline” connecting the Gulf to Europe by land.

Fourth: The Technological Fortress – Sovereignty via Starlink and Blockchain.
Al-Zaidi understands that digitally compromised sovereignty is illusory. Therefore, his visit to Washington transcends traditional arms deals, reaching into the realm of “digital sovereignty.” The move towards Starlink and American cloud providers is not merely a technological luxury, but an attempt to decouple from regional fiber optic networks vulnerable to hacking and political blackmail.

In this context, the KBR-Nebras agreements stand out as a cornerstone for building a “technological fortress.” By combining KBR’s infrastructure expertise with a blockchain-based “government contract gateway,” al-Zaidi aims to render corruption technologically impossible. Here, technology not only combats corruption through legal means, but also makes data and contract manipulation a matter of pure programming imagination.

Fifth: The “Hard Stop” Date – The Moment of Truth on September 30.
The date of September 30 remains the shadow over all discussions; it is the date of the “Hard Stop” for all armed activities outside the authority of the state. Al-Zaidi is going to Washington to forge a unique bilateral security agreement: advanced air and intelligence support, without an “army on the ground.”

This gamble represents a “moment of confrontation” with the militias. Without effective American intelligence cover, the withdrawal could be interpreted as a “retreat” that opens the door for the rearming of the factions. Al-Zaidi seeks to secure a technical and security commitment that guarantees the state remains the only force permitted to bear arms, transforming military support from a “combat presence” into a smart “intelligence partnership.”

Conclusion: Can technology outpace inertia?

Ali al-Zaidi’s trip to Washington is the most ambitious attempt yet to transform the Islamabad Memorandum from a fragile, war-imposed truce into a lasting geopolitical and economic reality. Al-Zaidi is betting that individual integrity, bolstered by digital immunity, can break the deadlock of past decades.

As he sits in the Oval Office, the philosophical question facing Iraq’s future remains: Can technology and sovereign vigilance outpace the inertia of a long history of corruption and weapons, or will the powerful find a way to circumvent even blockchain technology? Iraq’s next decade is being written now in Washington, in ink of oil, digital sovereignty, and unwavering resolve.  link

Iraq Economic News and Points To Ponder Tuesday Evening 7-7-26

Iraq Is Moving Towards Balancing Programs With US Support And In Coordination With The World Bank.

Money and Business    Economy News – Baghdad    Finance Minister Faleh Sari discussed on Wednesday with the US Chargé d'Affaires to Iraq, Joshua Harris, prospects for economic cooperation between Baghdad and Washington and ways to strengthen the partnership with US financial institutions, while both sides affirmed their support for the path of economic and financial reforms.

The Ministry of Finance said in a statement received by "Al-Eqtisad News" that the minister stressed that the government has given the economic file high priority within its program, noting that the next stage will witness reforms aimed at addressing economic and financial challenges in a radical way, and in cooperation with international partners.

The minister revealed a government trend towards preparing a program budget and gradually moving away from the traditional budget system, with the aim of raising the efficiency of spending and linking financial allocations to goals and results, in line with the requirements of financial and administrative reform.

For his part, the US Chargé d'Affaires affirmed his country's support for the Iraqi government and its readiness to enhance economic and financial cooperation, in a way that contributes to supporting stability and achieving sustainable economic growth in Iraq.

This trend coincides with what the government spokesman, Haider al-Aboudi, announced, that the Council of Ministers approved a directive to proceed with drafting a "program budget" in coordination with the World Bank and the Parliamentary Finance Committee, within the framework of economic reform.     https://www.economy-news.net/content.php?id=70077

Saleh: The Funds Recovered From Corrupt Individuals Cannot Be Used To Base Budgets.

  Baghdad Today - Follow-up   The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Tuesday (July 7, 2026) that the funds recovered from corrupt individuals represent exceptional revenues that cannot be relied upon in preparing public budgets, while noting that these funds will contribute to reducing the deficit gap and financing projects.

Saleh said in a statement followed by “Baghdad Today”, that “the funds that were recovered from the corrupt are important and non-recurring exceptional revenues, as they cannot necessarily and permanently be relied upon in preparing the general budgets, but they constitute an important source of revenue in financial planning.”

He continued: “These funds are often directed towards bridging the deficit gap or financing specific projects that directly affect the lives of individuals, or strengthening the country’s financial reserves, and not towards building the annual budget within a long-term fiscal policy, because that is linked to the ceilings and capabilities of fiscal policy within the framework of preparing and implementing public budgets.”

He stressed that “recovering corruption funds is important because it reduces financial waste, supports the public treasury, and enhances the confidence of citizens, investors, and the international financial community in the country’s economic system,” noting that “funds recovered from corrupt individuals represent an important support tool for the national economy, but they are not necessarily a complete replacement for the general budget, as this depends on the size and ceilings of public spending.”

These moves come in parallel with the government’s efforts to reduce the fiscal deficit and diversify revenue sources away from near-total dependence on oil. https://baghdadtoday.news/302881-.html

U.S. Resumes Dollar Transfers to Iraq After Months long Suspension

The Trump administration had halted the shipments to Iraq as part of its efforts to pressure the Baghdad government to distance itself from Iran. https://www.iraq-businessnews.com/2026/07/02/u-s-resumes-dollar-transfers-to-iraq/

European Union: We Will Continue To Support Iraq In Reforming Its Banking System.

  Baghdad Today - Baghdad:   The European Union Ambassador to Iraq, Clemens Simetner, confirmed on Sunday (July 5, 2026) that the Union will continue to provide support to the Iraqi government through numerous programs that include combating corruption and reforming the banking system.

Simetner told the official agency, as reported by Baghdad Today, that “we saw the current government program and put alongside it what the European Union has worked on and is still working on in terms of activities, and we found a great similarity there,” explaining that “we presented projects for vocational training, reforming the banking system, providing job opportunities for small and medium enterprises, as well as efforts to combat corruption, diversify energy sources, and diversify oil products.”

He added, "These programs are being implemented and are still in place, and we are continuing to support the government through them and will continue to provide them in the future." https://baghdadtoday.news/302780-.html

Middle East: Al-Zaidi's Government Moves Towards Opening Files On Ministers, Governors, And Directors-General, While Tracking Their Money And Properties

Baghdad - One News - 7/06/2026  Middle East Monitor reported that the Iraqi government is preparing to launch the second phase of its anti-corruption campaign, in a move that expands the scope of prosecutions to include ministers, governors, directors-general, and current and former officials, while simultaneously tracking funds, real estate, and investments linked to those suspected of involvement inside and outside Iraq.  

The website indicated that the new phase includes opening files in the Ministries of Health, Oil and Electricity, in addition to completing the procedures for the “Where did you get this?” bill to strengthen the prosecution of illicit enrichment; the step comes within the government’s efforts to expand accountability, recover public funds and prosecute those involved without exception.  https://1news-iq.net/ميدل-إيست-حكومة-الزيدي-تمضي-نحو-فتح-ملف/

Iraq’s Cf Backs Anti-Corruption Drive 

2026-07-06 Shafaq News- Baghdad    Iraq’s Shiite Coordination Framework (CF), the largest bloc in Parliament, reaffirmed on Monday its support for government and judicial measures to combat corruption, protect public funds, and strengthen the rule of law, according to a statement.

  During a meeting at the office of Badr Organization Secretary-General Hadi Al-Amiri, attended by Supreme Judicial Council President Faiq Zaidan and Prime Minister Ali Al-Zaidi, the CF also reviewed official and public preparations for the funeral of Iran’s late Supreme Leader Ali Khamenei, calling for broad participation in the ceremony.

  As Parliament resumed sessions following its legislative recess, the bloc called for activating oversight mechanisms and accelerating the approval of key legislation.

  On June 28, Iraqi authorities launched Dawn Crackdown (Sawlat Al-Fajr), a nationwide anti-corruption campaign under Al-Zaidi’s direction targeting current and former officials, lawmakers, politicians, business figures, ministers, directors-general, provincial governors, and other suspects.  

On Sunday, Tasmeem Alliance head Amer Al-Fayez revealed to Shafaq News that anti-corruption efforts would be on the agenda of the CF’s regular meeting.  

Read more: Iraq detains top officials in anti-corruption sweep: What we know so far

https://shafaq.com/en/Iraq/Iraq-s-CF-backs-anti-corruption-drive

In The Presence Of The Head Of The Supreme Judicial Council, Faiq Zaidan, The Coordination Framework Affirms Its Support For The Anti-Corruption Campaign And Calls On Parliament To Strengthen Its Oversight Role

Baghdad - One News - 7/06/2026   The Coordination Framework held its periodic meeting today at the office of the Secretary-General of the Badr Organization, Hadi al-Amiri, in the presence of Prime Minister Ali al-Zaidi and the President of the Supreme Judicial Council, Judge Faiq Zaidan, to discuss the latest political, security and judicial developments in the country.  

According to an official statement, the attendees discussed developments on the national scene, focusing on the sustainability of the anti-corruption campaign and the mechanisms to ensure the continuation of governmental and judicial procedures aimed at pursuing corruption cases and protecting public funds.  

The Coordination Framework, according to the statement, affirmed its full support for the measures taken by the government and the judiciary in combating what it described as the “corruption pandemic,” stressing the importance of continuing efforts to stop the waste of public funds and strengthen the rule of law.  

The participants called on the House of Representatives to activate its oversight tools in line with the ongoing governmental and judicial steps, in addition to intensifying work on passing laws that represent a priority during the current stage, in order to support the reform process and enhance the performance of state institutions.  

The meeting also addressed a number of political and organizational issues, and the coordinating framework renewed its call for broad public participation in the funeral procession of the martyr Sayyid Ali Khamenei.  

The meeting comes at a time when the Iraqi scene is witnessing an escalation in the pace of the anti-corruption campaign, coinciding with political and judicial efforts aimed at strengthening coordination between state institutions and supporting measures aimed at pursuing corruption cases and recovering public funds. https://1news-iq.net/بحضور-رئيس-مجلس-القضاء-الأعلى-فائق-زيد/

Seeds of Wisdom RV and Economics Updates Tuesday Evening 7-7-26

Good Evening Dinar Recaps,

US-Iran Ceasefire Tested as Drone Attacks Hit Ships in the Strait of Hormuz

Renewed attacks on commercial vessels have heightened tensions in the Gulf, threatening fragile peace efforts and raising new concerns over global energy security and maritime trade.

Overview

Commercial vessels transiting the Strait of Hormuz were struck in separate attacks, prompting accusations against Iran and sharply escalating regional tensions.

• The incidents place the fragile U.S.-Iran ceasefire at risk, just weeks after both sides agreed to pursue diplomatic negotiations.

• Oil prices jumped immediately as traders reacted to renewed threats against one of the world's most critical energy corridors.

Key Developments

1. Commercial Ships Targeted in the Strait of Hormuz

Reports indicate that multiple commercial vessels were attacked while transiting the Strait of Hormuz, including a Qatari LNG tanker that suffered significant damage after an apparent drone strike. A Saudi-flagged crude tanker was also damaged, though no fatalities were reported.

2. U.S. Responds with Military Action

Following the attacks, U.S. Central Command announced retaliatory strikes against Iranian military targets, describing the vessel attacks as violations of the existing ceasefire agreement. The United States also revoked a conditional license that had permitted limited Iranian oil exports.

3. Oil Markets React Immediately

Brent crude and U.S. crude prices rose sharply as investors priced in renewed supply risks. Because nearly one-fifth of global oil shipments normally pass through the Strait of Hormuz, even limited disruptions can significantly affect global energy markets.

4. Shipping Security Deteriorates

Maritime security agencies raised the threat level for vessels operating in the region. Shipping companies are expected to face higher insurance costs, increased security measures, and potential route adjustments while tensions remain elevated.

5. Peace Talks Face New Uncertainty

The attacks have complicated ongoing diplomatic efforts between Washington and Tehran. Officials now face the challenge of preventing the latest violence from completely derailing negotiations aimed at restoring long-term stability in the Gulf.

 Why It Matters

The Strait of Hormuz remains one of the world's most strategically important shipping lanes. Any disruption threatens global oil supplies, raises transportation costs, increases inflationary pressures, and injects new uncertainty into international financial markets. Renewed military escalation also risks delaying broader diplomatic efforts to stabilize the Middle East.

Why It Matters to Foreign Currency Holders

Currency investors continue monitoring geopolitical developments because energy prices directly influence inflation, interest-rate policy, and global capital flows. Prolonged instability in the Gulf could strengthen demand for safe-haven assets while increasing volatility across foreign exchange and commodity markets.

Implications for the Global Reset

• Pillar 1 – Energy

Renewed attacks on commercial shipping demonstrate how energy security remains central to global financial stability, with oil prices responding rapidly to disruptions in critical transportation corridors.

• Pillar 2 – Trade

The Strait of Hormuz is one of the world's busiest maritime trade routes. Higher shipping risks, insurance costs, and supply chain disruptions could increase global trade expenses and prolong inflationary pressures.

Closing Thought

This is not just about military escalation—it highlights how geopolitical conflict can rapidly influence global energy markets, international trade, inflation, and the stability of the world's financial system.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters – Hormuz shipping risk raised to severe after tankers hit, reviving U.S.-Iran tensions

• Reuters – US military launches strikes against Iran after attacks on commercial ships

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The Strait Of Hormuz Has Reopened — Why That Might Be A Problem For The Oil Market

The Strait Of Hormuz Has Reopened — Why That Might Be A Problem For The Oil Market: Chart Of The Day

Jake Conley   Yahoo Finance

As the war has wound down and the US and Iran continue ongoing negotiations, ship traffic through the Strait of Hormuz has begun to pick up, sending increasing amounts of oil to the global market that has been starved for it.

That might be a problem for the oil market, according to JPMorgan commodity strategists, led by head of commodities research Natasha Kaneva.

"Regardless of timing, one thing is certain: a wave of oil is about to enter the market," the strategists wrote. "And here lies the paradox. The surge in oil supply is about to collide with a market that, at least for now, simply does not need it."

Critically, a significant chunk of that demand destruction came — in a stunning turnaround — from China. Through 2025, China bought massive volumes of oil, far above the nation's domestic need, helping to keep a floor under prices at a time when the world faced a major oversupply glut.

China's sudden drop in imports, the strategists noted, allowed countries getting squeezed to find an international supplythey could buy to keep their economies functioning. CHART

As the war in Iran squeezed the world's supply of oil, China's imports plummeted.

Now, millions of barrels of oil locked in the Persian Gulf are flooding back into a market that has adapted, even as it loses its lead buyer. In fact, China's internal oil demand dropped so sharply during the war that officials are reportedly examining whether the change was just a temporary war-driven adaptation or a more structural shift in fossil fuel consumption throughout the country.

"The barrels now exiting Hormuz increasingly have nowhere to go except China. But China is not buying," the JPMorgan strategists wrote. "The immediate consequences are clear: the market is facing the risk of a temporary glut as trapped oil finally re-enters a system that has already spent months learning how to function without it."

That's not to say prices will plummet, the strategists cautioned. Chinese refiners are likely to reenter the market and begin buying once more, they said, and countries and private companies that emptied their stores to backfill the missing barrels will begin replenishing those stocks, buying oil off the market.

But both of those factors, the strategists wrote to clients, could take time to emerge as the market evaluates the state of supply into 2027. World oil demand is now expected to fall by 1.1 million bpd in 2026, according to the International Energy Agency, which has predicted a vast oil supply overhang into 2027.

"Much like a computer after a major crash, the oil market is attempting a system reboot," the JPMorgan strategists wrote.

"But rebooting a complex system is rarely instantaneous. Memory lingers. Processes restart unevenly. Temporary files accumulate. And before stability returns, the system must first sort through the residual chaos left behind by the shock."

To Read More: https://www.yahoo.com/finance/markets/article/the-strait-of-hormuz-has-reopened--why-that-might-be-a-problem-for-the-oil-market-chart-of-the-day-145149603.html

Iraq Economic News and Points To Ponder Tuesday Afternoon 7-7-26

Oil Prices Rise On Demand Watch

2026-07-07 01:18     Shafaq News   Oil prices edged higher on Tuesday, though gains were capped as traders ‌looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects.

Brent crude futures gained 38 cents, or 0.5%, to $72.37 a barrel, while U.S. West Texas Intermediate crude rose 30 cents, or 0.4%, to $68.85 a barrel as of 0350 GMT, after settling down at ​around pre-Iran war levels on Monday.

"The steps towards recovery in supply have eased the immediate risk premium, but the market ​remains wary of putting too much faith in the stability of the current truce given the on ⁠again-off again nature of U.S.-Iran relations," said Tim Waterer, chief market analyst at KCM Trade.

"We will be watching for early signs of ​demand response, particularly from China. The market has priced in a lot of the positive supply news, so the next leg in oil ​prices will depend on whether physical reality matches the optimistic headlines."

President Donald Trump said on Monday the U.S. would either reach a deal with Iran or "finish the job," renewing his threat of military action as Tehran projects defiance following the funeral of former Supreme Leader Ayatollah Ali Khamenei.

Investors have been keeping a close eye on ​talks between the U.S. and Iran over the fate of shipping through the Strait of Hormuz while tracking the recovery in Gulf ​oil exports.

On Monday night, Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting the Strait of Hormuz, Axios reported, citing two U.S. officials. ‌The ⁠commercial ships suffered significant damage but had no casualties, the report said.

On Tuesday, Japanese-owned supertankers carrying Saudi Arabian crude were heading to the Strait of Hormuz to exit the Gulf, shipping data showed, joining a fleet of previously stranded vessels that left a day earlier.

Despite the recent surge in strait activity, oil flow recovery is proving slower than expected, ANZ analysts said in a note.

"The initial rebound in tanker ​transits through the Strait of ​Hormuz has stalled, with vessel ⁠crossings remaining in single digits and no sustained recovery evident," they said.

"While the interim U.S.-Iran agreement has reduced immediate geopolitical risks, shipping operators remain cautious, limiting the speed at which crude exports can return ​to normal levels."

Meanwhile, the United Arab Emirates raised crude output above 3.8 million barrels per day in ​June, its highest ⁠since April 2020 and above pre-Iran war levels, after leaving OPEC+ production quotas in May, according to Reuters estimates.

The Organization of the Petroleum Exporting Countries and its allies including Russia agreed on Sunday to further increase output targets by 188,000 bpd from August, on top of similar increases ⁠for June ​and July.

Saudi Arabia cut the August official selling price (OSP) for its flagship Arab Light ​crude to Asia to $1.50 a barrel below the Oman/Dubai average, an $11 cut from the previous month and the biggest drop in more than two decades, according to a ​Saudi Aramco pricing statement on Monday.

(REUTERS)   https://www.shafaq.com/en/Economy/Oil-prices-rise-on-demand-watch

Basrah Crude Prices Climb With Global Oil Rally

2026-07-07 02:44   Shafaq News- Baghdad   Iraq's two Basrah crude grades rose in Tuesday trading, tracking a broader rally across global benchmarks.

Basrah Medium gained 67 cents to reach $60.76 per barrel, a rise of 1.17%. Basrah Heavy climbed by the same margin, adding 67 cents to settle at $57.86 per barrel, up 1.12%.

As of 0350 GMT, Brent futures were up 38 cents, or 0.5%, at $72.37 a barrel, while US West Texas Intermediate rose 30 cents, or 0.4%, to $68.85 a barrel, after both benchmarks settled near pre-Iran war levels on Monday.

Emirati Murban crude rose 0.30% to $66.68 per barrel, while Saudi Arab Light advanced 0.85% to settle at $75.68 per barrel.

The OPEC reference basket stood at $77.37 per barrel, according to the latest official data.

https://www.shafaq.com/en/Economy/Basrah-crude-prices-climb-with-global-oil-rally

Iraq's Central Bank Cuts Traveler Dollar Allowance To $2,000

2026-07-07 03:18    Shafaq News- Baghdad (Updated at 13:53)   Iraq's Central Bank (CBI) reduced the foreign currency allowance for travelers from $3,000 to $2,000 per trip, an informed source told Shafaq News on Tuesday.

The reduction applies to all Iraqi citizens departing through airports and border crossings, regardless of purpose, tourism, medical treatment, study, Hajj and Umrah pilgrimage, or business travel, the source said. The delivery mechanism remains unchanged: travelers collect their allowance through government and private banks or licensed exchange companies after their passport is stamped and before departure.

Travelers requiring additional funds for exceptional medical or business circumstances are directed to use electronic payment cards loaded with supplementary balances, the source added. Spending outside Iraq through these cards will be processed at the official exchange rate of 1,320 dinars per dollar.

Economic analyst Mohammed al-Hassani told Shafaq News that travelers needing more than $2,000 for travel expenses may turn to unofficial exchange channels, which could raise demand and put pressure on the exchange rate if supply does not keep pace.

The impact, however, may be limited and temporary, al-Hassani added, depending on the volume of affected travelers and the CBI's ability to expand the use of electronic payment cards abroad, a policy the bank has been actively promoting. Sustained card adoption could reduce pressure on the parallel market, and any uptick in the dollar rate would likely be short-lived if accompanied by regulatory measures to ensure currency availability, he said.

No official statement has been issued by the Central Bank confirming the directives as of publication time.

https://www.shafaq.com/en/Economy/Iraq-s-Central-Bank-cuts-traveler-dollar-allowance-to-2-000#:~:text=2026%2D07,time

Dollar Stabilizes In Baghdad, Rises In Erbil

2026-07-07 10:01    Shafaq News- Baghdad/ Erbil   The US dollar closed Tuesday’s trading mixed in Iraq, hovering around 153,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,000 dinars per 100 dollars, unchanged from the morning session.

In the Iraqi capital, exchange shops sold the dollar at 153,500 dinars and bought it at 152,500 dinars, while in Erbil, selling prices rose to 153,050 dinars and buying prices stood at 153,000 dinars.

https://www.shafaq.com/en/Economy/Dollar-stabilizes-in-Baghdad-rises-in-Erbil-4

Minister Of Finance: The First Phase Of The Budget Of Programs Includes The Electricity Sector And The Governorates Of Diwaniyah And Salahuddin

Money and business   Economy News – Baghdad   Iinister of Finance Faleh Sari said that the first phase of the budget of programs and performance will include the electricity sector and the governorates of Diwaniyah and Salahuddin, provided that the expansion will be gradually to include all state institutions during the next three years.

This came during a meeting held by the Minister with the Parliamentary Finance Committee, on Tuesday, in the framework of early coordination to prepare the next draft budget in cooperation with the House of Representatives and the World Bank.

He explained that the choice of the Ministry of Electricity came because this sector has drained large amounts over the past years without achieving the desired results, which requires the adoption of the budget of programs to ensure that spending is directed towards sustainable solutions and measurable results.

He added that the selection of the governorates of Diwaniyah and Salahuddin comes because of their need to push the wheel of service and development projects, allowing the channeling of resources according to actual priorities and achieving the best benefit from financial allocations.

The minister put the members of the committee in the form of the current financial situation, and the measures taken by the ministry to meet the financial obligations, in addition to its efforts to maximize non-oil revenues, to ensure the continued financing of projects and basic services for citizens.

The meeting witnessed a consensus on the priorities of financial reform, with emphasis on the continuation of coordination between the executive and legislative authorities to make the next draft budget a success and achieve the objectives of financial and administrative reform.  https://www.economy-news.net/content.php?id=71111