Iraq Economic News and Points To Ponder Tuesday Evening 1-6-26

An Expert Links The Rise Of The Dollar To Increased Demand From Traders And Customs Automation.

The iraqi trading corporation decides to open its branches to customers during the holiday.

Baghdad – Nada Shawkat  An economic expert linked the rise in the dollar exchange rate against the local dinar to increased demand from traders and the implementation of the customs automation system, which has directly altered import and clearance procedures.

Expert Nasser al-Kinani stated yesterday that "the current rise in the dollar against the dinar is a natural consequence of a confluence of factors, primarily increased demand from traders, coinciding with the implementation of the customs automation system, which has imposed a new reality on import and clearance operations."

He added that "Iraq employs a traditional currency peg system, where the Central Bank sets the official rate at 1,320 dinars per dollar, supported by substantial foreign reserves and relatively low annual inflation of between 2 and 3 percent.

However, the parallel market sees fluctuating prices on paper, reflecting a gap between the economic reality and the reform measures." The dollar exchange rate has risen in both the Baghdad and Erbil stock exchanges.

 Currency exchange operators reported yesterday that the dollar exchange rate had risen in Baghdad's Al-Kifah and Al-Harithiya markets, reaching 147,700 Iraqi dinars per 100 dollars, compared to 146,500 dinars the day before.

They also noted that selling prices at local exchange bureaus in Baghdad's markets had increased, reaching 148,250 dinars per 100 dollars, while the buying price was 147,250 dinars.

They confirmed that selling prices had also risen in Erbil, reaching 146,600 dinars per 100 dollars, with a buying price of 146,500 dinars. Meanwhile, the Trade Bank of Iraq announced that all its branches would remain open during the official holidays.

The bank stated in a press release received by Al-Zaman yesterday that, “Based on directives from the Central Bank of Iraq, all bank branches will be open to customers during official holidays from 10:00 AM to 1:00 PM. During this period, services will be limited to receiving and processing foreign remittances and pre-customs declarations only.

 No other banking transactions will be conducted.” The statement continued, “The bank will remain open during official holidays until the end of this month.”

Separately, the Ministry of Industry revealed the size of Iraq’s reserves of important minerals, particularly sulfur, phosphate, and limestone.Ministry spokesperson Duha al-Jubouri stated yesterday that Iraq holds the world's largest reserves of free sedimentary sulfur, estimated at approximately 600 million tons. She added that these reserves are primarily located in Nineveh Governorate, where the sulfur is utilized in the production of fertilizers and various chemical industries.

Al-Jubouri also noted that Iraq ranks second globally in phosphate rock reserves, estimated at around 10 billion tons, located in Anbar Governorate. She emphasized that phosphate rock is the primary raw material in the production of phosphate fertilizers.

Furthermore, she explained that Iraq is rich in high-purity silica sand, with reserves exceeding 350 million tons, found in Anbar and Najaf Governorates. She stressed that this sand is a fundamental material in the manufacture of glass, ceramics, and various refractory materials.

Regarding limestone, al-Jubouri stated that Iraq possesses abundant reserves of this essential material, used in cement production and other industries. She added that Iraq has over 8 billion tons of this vital resource, which is used in the production of various types of cement. It is used in the glass, ceramics, dyes, building stone and other industries), and she went on to say that “providing this raw material has enabled Iraq to be self-sufficient in cement for about 10 years, with production reaching 37 million tons last year   .LINK

Gold And Dollar Prices Rise In Baghdad And Erbil

Economy News – Baghdad     On Tuesday, gold prices in local markets in Baghdad and Erbil witnessed a significant increase, coinciding with the rise in the dollar exchange rate against the Iraqi dinar.

The wholesale markets in Al-Nahr Street in Baghdad recorded this morning a selling price of 924,000 dinars for one mithqal of 21-karat gold from Gulf, Turkish and European origins, while the buying price was 920,000 dinars, compared to 908,000 dinars for selling the mithqal yesterday.

As for Iraqi gold, 21 karat, it recorded a selling price of 894,000 dinars and a buying price of 890,000 dinars.

In goldsmith shops, the selling price of a mithqal of foreign 21-karat gold ranged between 925,000 and 935,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 895,000 and 905,000 dinars.

In Erbil, gold prices also rose, with the selling price of 22-karat gold reaching about 981,000 dinars, 21-karat gold about 935,000 dinars, while the selling price of 18-karat gold reached 801,000 dinars.

In the same context, the exchange rate of the dollar rose in the markets of Baghdad and Erbil, where it reached 147,700 dinars per 100 dollars in the Al-Kifah and Al-Harithiya exchanges, after it was at 146,500 dinars yesterday. https://economy-news.net/content.php?id=64225

Israel: Security Talks With Syria With US Support

A statement from the US State Department on Tuesday said that the new Syrian government and Israel will form a joint group under US supervision to share intelligence and seek to contain military escalation on the ground.

The statement, issued after talks in Paris, said that Syria and Israel committed to "making arrangements that guarantee lasting security and stability for both countries."

Israel confirmed on Tuesday that it held security talks in Paris with Syria under the auspices of the United States, with the aim of promoting regional stability and economic cooperation.

A statement from Prime Minister Benjamin Netanyahu's office said that "the dialogue took place within the framework of President (Donald) Trump's vision for advancing peace in the Middle East," explaining that Israel emphasized during the talks "the importance of ensuring the security of its citizens and avoiding threats along its borders.

" The statement added that "Israel reiterated its commitment to strengthening regional stability and security, in addition to the need to make progress in economic cooperation for the benefit of both countries."

Meanwhile, at least seven people, including six civilians, were killed on Tuesday in the northern Syrian city of Aleppo as a result of ongoing clashes between government forces and the Syrian Democratic Forces (SDF), who traded accusations regarding responsibility for the outbreak of violence, amid stalled negotiations between the two sides for months.

Meanwhile, hospitals and government offices were targeted by Kurdish militants.

Despite signing an agreement in March stipulating the integration of Kurdish self-administration institutions within the framework of the Syrian state, the two sides occasionally engage in bloody clashes, particularly in the city of Aleppo, which includes two predominantly Kurdish neighborhoods.

On Tuesday morning, the Syrian Democratic Forces accused "armed factions affiliated with the Ministry of Defense" of "targeting the Sheikh Maqsoud neighborhood" in Aleppo with a reconnaissance plane, resulting in "the martyrdom of a citizen from the neighborhood and the injury of two others."

Later, it reported that the death toll had risen to "three martyrs, including two women," as a result of "indiscriminate artillery and rocket shelling by Damascus government factions on the Sheikh Maqsoud and Ashrafieh neighborhoods."

In another statement, Kurdish forces accused factions within the Syrian army of shelling the city of Deir Hafer, located about 50 kilometers east of Aleppo, and the area surrounding the strategic Tishrin Dam northeast of Aleppo, using mortars and heavy weapons. The US-backed forces asserted their "legitimate right to respond to these attacks in defense of our people and to preserve the security and stability of our regions."

For its part, the authorities accused the Syrian Democratic Forces of “a new violation of the agreements signed with the government,” referring to the March agreement.

The Syrian Defense Ministry's media office, as reported by the official news agency SANA, stated that the Syrian Democratic Forces (SDF) targeted "several neighborhoods in Aleppo adjacent to those they control," resulting in "three martyrs and more than 12 injuries among civilians." It also accused the SDF of targeting "an army position in the vicinity of the Sheikh Maqsoud neighborhood, resulting in one martyr and five wounded."

She said that "the army targeted the sources of fire of the SDF and the sources from which its drones were launched."

The Ministry of Agriculture announced that two female employees at its scientific research center were among the dead.

The Syrian state news agency SANA reported that the Syrian Democratic Forces (SDF) "targeted a hospital in the Bustan al-Basha neighborhood with artillery shells," while the Aleppo governorate, via its Telegram channel, reported that a shell landed at the hospital's main gate.

This is not the first time the two sides have engaged in deadly clashes. Similar clashes erupted on December 22, hours after Turkish Foreign Minister Hakan Fidan visited Damascus, during which he urged Kurdish forces "not to become an obstacle to the unity and long-term stability of Syrian territory."

The Ministry of Health at the time counted the killing of four civilians as a result of the shelling by the Syrian Democratic Forces, which in turn reported the killing of a woman in the government shelling.

The renewed clashes on Tuesday came two days after a new round of negotiations held on Sunday in Damascus. According to the Kurds, the talks discussed the integration of their forces into the army, but failed to achieve "tangible results," according to state media. LINK

Has Washington Ushered In An Era Of Silent Wars?

Baghdad – Al-Zaman  On the dawn of January 3, 2026, the world did not awaken to the dramatic news of the arrest of Venezuelan President Nicolás Maduro in his bedroom at the Miraflores Palace. Rather, the military in Moscow, strategic planners in Beijing, and politicians in Tehran awoke to a nightmare that threatened to forever alter the rules of international engagement.

Operation Southern Spear was not a special forces raid, nor a counter-narcotics campaign as official Pentagon statements claimed; it was a complex earthquake that killed two birds with one stone: technically undermining the prestige of the "Eastern weapon" and geopolitically reclaiming control of "energy keys."

In this in-depth reading, we reconstruct the scene from the charred remains of radars to the barrels of oil awaiting a new owner.

The New Doctrine

Perhaps the most dangerous lesson of the Caracas night was the radical shift in American military doctrine. If the 2003 invasion of Baghdad inaugurated the “Shock and Awe” doctrine based on overwhelming firepower, then Operation 2026 inaugurated the “Shock and Silence” doctrine.

 The objective was no longer to destroy the enemy army, but to “extinguish” it. Washington did not bomb the Venezuelan army to annihilate it, but rather to sever its “brain” from its “body” in a complex surgical operation that began weeks before the zero hour.

The question now troubling the Kremlin is not “Where is Maduro?” but “Why did the S-300s fall silent?” Venezuela, once considered the most heavily fortified stronghold in Latin America thanks to its sophisticated Russian air defense network (S-300VM Antey-2500), fell without firing a single missile. This collapse was not merely an act of betrayal, but a crushing technological defeat that exposed the tactics of sixth-generation warfare.

Burn-through jamming: The American EA-18G Growler electronic warfare aircraft did not employ traditional jamming, but rather used a technique called "energy flooding," emitting massive electromagnetic energy that completely saturated the Russian radar screens, turning them white. Venezuelan defenses were rendered completely blind and unable to lock onto the aircraft flying overhead.

Cyber ​​overload: The attacks that struck the national electricity grid last December were not random. They were a “rehearsal” to cut power to early warning centers and isolate the command in the capital from missile batteries on the outskirts.

Decapitation Strike: The surgical strike against the command and control (C2) centers at La Carlota Air Base and the Ministry of Defense rendered the Venezuelan military—a centralized, hierarchical force—a lifeless entity. Field officers, isolated and without orders, chose silence over suicide.

If technology is the “tool,” then energy is the “drive.” No reasonable person could believe that Washington mobilized its fleets to arrest a drug trafficker. Venezuela is the reservoir that sits atop the world’s largest proven oil reserves (more than 300 billion barrels).

Timing is crucial here. With the rise of the “Eastern Alliance” and China and Russia’s efforts to decouple from the petrodollar, Venezuela has transformed from a “rogue state” into an “existential threat.”

Reports of Chinese acquisitions of energy infrastructure and the transformation of Caribbean ports into safe havens for Iranian tankers have made the “southern spear” an absolute necessity for US national security.

Washington has gone so far as to nationalize the “oil tap” and prevent it from flowing into the engines of the Eastern axis’s economic war machine, delivering a blow to the principle of “multipolarity.”

Bloody messages

The operation is a brutal revival of the “Monroe Doctrine” (the backyard is a red line), but it carried loaded messages for Caracas’s allies:

To Moscow: Your defense systems, the pride of Russian industry, have failed their first real test against hybrid warfare. This is a blow to the reputation of Russian weaponry that could have serious political and economic costs.

To Tehran: The long arm you extended across the Atlantic (drone factories and defense agreements) was severed in one night. The Caribbean is not the Strait of Hormuz.

After the fall

But did the battle end with Maduro's deportation to Florida? Here begins the most dangerous chapter. Washington succeeded brilliantly in "demolition," but history tells us that it often fails in "construction."

 The Venezuelan state is now in a terrifying vacuum; the army is demoralized and lacks legitimacy, and the institutions are paralyzed. The void left by the regime will not be filled immediately by liberals returning from exile, but rather by the only organized and ideologically armed force: the colectivos.

We are facing a scenario in which Venezuela transforms from a “dictatorial state” (with relative security) into a “failed state” (ravaged by militias). If security collapses and Caracas becomes a battleground for street warfare, the “southern spear” could backfire on its launchers in the form of waves of mass displacement and uncontrollable regional chaos.

The operation of January 3, 2026 will be taught in military academies as a model of stunning tactical success.

 It will be studied in policy institutes as a model of grand strategic gamble. Washington has reclaimed the key to its backyard.

 It has proven its overwhelming technological superiority, but it may have unwittingly opened a Pandora's box in Latin America. In a world of interests, the victor is not the one who wins the dawn battle, but the one who survives the midday mud.  LINK