Iraq Economic News And Points To Ponder Tuesday Evening 4-7-26
Is The World Facing A Maritime Chokepoint? The Risks Of Closing The Strait Of Hormuz And The Bab El-Mandeb Strait Threaten Global Energy And Trade
Tuesday, April 7, 2026 Gulf States - One News International warnings are mounting about the potential repercussions of closing two of the world's most strategic maritime passages, the Strait of Hormuz and the Bab el-Mandeb Strait, amid rising tensions in the region.
The Strait of Hormuz is the main artery for Gulf oil exports to global markets, through which a large part of international energy supplies pass, making any disruption to it a direct threat to the global economy, as it immediately leads to higher oil prices and increased economic pressure on consuming countries.
In contrast, the Bab el-Mandeb Strait forms a vital link between the Red Sea and the Indian Ocean, and is a key passage for global trade towards the Suez Canal, meaning that its disruption will directly affect shipping between Asia and Europe.
According to reports, including one carried by Reuters, there are warnings of a possible escalation to include Bab al-Mandab, amid indications that the Houthi group may play a role in disrupting navigation to the south.
Some global shipping companies have already begun changing the routes of their ships to avoid risks, which threatens higher transportation costs and delays in supply chains, especially with regard to food and basic commodities.
Observers believe that closing both straits together could lead to an unprecedented maritime bottleneck, threatening global supply chains and causing a widespread wave of inflation as a result of rising energy and shipping prices.
If the situation worsens, this escalation could lead to international military intervention to protect shipping lanes, opening the door to a new phase of tensions that could extend beyond the region.
The question remains: Is the world heading towards a full-blown maritime crisis, or will international efforts succeed in containing the escalation before reaching this stage? https://1news-iq.net/هل-يواجه-العالم-اختناقاً-بحرياً؟-مخاط/
PSM’s Al-Sadr still rejects Al-Maliki comeback as Iraqi PM, aide says
2026-04-07 Shafaq News- Baghdad Patriotic Shiite Movement (PSM) leader Muqtada Al-Sadr has not signaled support for nominating State of Law Coalition head Nouri Al-Maliki as prime minister, Al-Sadr’s aide Salah Al-Obaidi told Shafaq News on Tuesday.
Al-Obaidi said statements circulating on social media claiming Al-Sadr could back Al-Maliki if Shiite factions reached consensus were fabricated and published through a “suspicious” account.
The Shiite Coordination Framework, parliament’s largest bloc, formally nominated Al-Maliki in January, but government formation has stalled amid disputes over electing a president, the constitutional step required before naming a premier. Parliament has scheduled April 11 for a session to elect a president, though similar timelines have often slipped during prolonged negotiations.
In November 2025, the PSM opposed Al-Maliki’s nomination, with a senior official telling Shafaq News on condition of anonymity that it represented “a continuation of failure and corruption,” warning the movement could take action if efforts to return him to power proceed. https://shafaq.com/en/Iraq/PSM-s-Al-Sadr-still-rejects-Al-Maliki-comeback-as-Iraqi-PM-aide-says
Read more: Iraq’s next Prime Minister held hostage by US-Iran standoff
Muzhir Muhammad Salih: The Informal Economy Hides 67% Of The Market In Iraq.
{Economic: Al-Furat News} Mazhar Muhammad Saleh confirmed today, Monday, that the informal economy in Baghdad and the rest of Iraq’s cities represents a source of livelihood for millions of citizens, but at the same time it hides 67% of the market economy, deprives the state of important resources, and leaves those working in it without legal protection.
Saleh explained in his interview with Al-Furat News Agency that "this economic, social and legal paradox cannot be addressed through imposing taxes or prosecution, but rather through simplifying the procedures adopted by the government program, such as registration, reducing fees, and providing real incentives such as loans and insurance."
He pointed out that "the adoption of electronic payment through digital payment applications, with its current resurgence, can enhance transparency and facilitate the integration of this sector into the regulated market economy."
He explained that "when the formal economy becomes more accessible and beneficial, the informal market will become a supporting force for the economy instead of remaining outside the organized market and the legal framework that protects market activity, including the social protection system and the workers' pension fund."
He added that "the entire informal economy can then be transformed into a supporting force for the economy, based on governance and transparency, instead of remaining outside the legal framework and social protection."
https://alforatnews.iq/news/مظهر-محمد-صالح-الاقتصاد-غير-الرسمي-يخفي-67-من-السوق-في-العراق
Iran war live: Trump suspends US attacks, Tehran agrees to 2-week ceasefire
Al Jazeera Live By Lyndal Rowlands, Ted Regencia, Chris Hamill-Stewart and Ali Harb
Published On 7 Apr 20267 Apr 2026
Iran says it has accepted a two-week ceasefire, with negotiations to begin on Friday in Pakistan’s Islamabad, after US President Donald Trump said he would suspend attacks subject to Tehran agreeing to fully reopen the Strait of Hormuz.
Iran’s foreign minister says safe passage through the key waterway will be possible for a period of two weeks via coordination with Iranian armed forces.
Trump’s statement came after Pakistan’s Prime Minister Shehbaz Sharif asked the US president to extend a deadline for a deal and Iran to fully open the Strait of Hormuz. https://www.aljazeera.com/news/liveblog/2026/4/7/iran-war-live-trump-warns-of-devastating-attacks-as-deal-deadline-nears
‘A Lot Of Movement’: Trump Moves From War Of Obliteration To Ceasefire With Iran
By Mike Hanna Reporting from Washington, DC, United States Let’s start with President Trump’s first message – on social media – of the day in which he said the “whole civilisation will die tonight and never to be brought back again”.
Now, we’ve got the president putting out on his social media that a two-week ceasefire has been agreed to. Not just a ceasefire but a period in which the remaining differences between the US and Iran can be ironed out, leading to a long-term and lasting resolution of the disputes between the two nations.
This is a lot of movement in one particular day.
The White House has formally declared a lid, which means there will be no more formal statements from the White House in the course of the evening. That does not obviate the possibility of more social media coming out from President Trump.
But clearly this is a deeply significant outcome given the fact that this was the time at which President Trump had vowed to obliterate Iran if they did not agree to the US proposals for negotiation.
What has in fact happened, from the president’s social media posting, is that the US has agreed to Iran’s 10-point proposal, which was communicated to the US by Pakistani mediators.
These 10 points are very significant, carrying with them that this is not a temporary ceasefire. Iran would not agree to a temporary ceasefire but it wanted negotiations leading to a lasting, longstanding end to hostilities between the US and Iran. https://www.aljazeera.com/news/liveblog/2026/4/7/iran-war-live-trump-warns-of-devastating-attacks-as-deal-deadline-nears
.Mr. Al-Hakim: The Stage Is Critical And The Blocs Must Hasten To End The Political Deadlock.
Time: 2026/04/07 22:34:18 Political: Al-Furat News} The head of the National State Forces Alliance, Mr. Ammar Al-Hakim, stressed the need to expedite the end of the political deadlock in Iraq.
A statement from his office, a copy of which was received by Al-Furat News, indicated that Mr. Hakim, during his meeting with Muthanna al-Samarrai, head of the Azm Alliance, emphasized that the current phase is critical and requires a fully empowered government to confront all challenges. He stressed that political blocs must shoulder their responsibilities in expediting the end of the political deadlock.
On the regional level, Mr. Hakim reiterated his call for an end to the war against the Islamic Republic of Iran, stating that escalation is widening the scope of the conflict and consequently increasing the damage inflicted on the region and the world. LINK
Parliamentarian: No Kurdish Agreement On A Candidate; Saturday's Session Will Be Held To Elect The President.
{Politics:Al-Furat News} The head of the Al-Asas bloc, Alaa Al-Haidari, confirmed that there is no Kurdish agreement on a candidate for the presidency, suggesting that a session will be held next Saturday amidst differing scenarios between a decision or postponement.
Al-Haidari said during his appearance on the “Point” program on Al-Furat satellite channel that: “The political deadlock has been prolonged and has entered a stage of constitutional vacuum as a result of the continued dispute between the two Kurdish parties,” indicating that “the lack of agreement may lead either to breaking the political will and proceeding with the election of the President of the Republic or to the failure to hold the session due to the lack of a quorum.”
He pointed out that "the Democratic Party expressed reservations about holding the session in light of the security situation in the region, with threats to withdraw from the political process if it proceeds."
Al-Haidari added that "regional conditions are casting a shadow on the internal scene," noting that "Iraq is directly affected by the developments of the war in the region, with losses being recorded among the security forces and the Popular Mobilization Forces."
He added that "the government has affirmed its right to self-defense, as security and economic challenges increase, particularly those related to the energy sector and the targeting of vital facilities."
Al-Haidari concluded that "the political scene is still open to multiple possibilities, given the continued disagreements within the political forces regarding the next stage and the formation of the government." LINK