Iraq Economic News and Points To Ponder Wednesday Evening 3-11-26
Al-Sadr Warns Against Fueling Sectarianism And Calls On Sunnis And Shiites In Iraq To Unite In Brotherhood
Baghdad – One New 3/11/2026 The leader of the Shiite national movement , Muqtada al-Sadr , warned on Wednesday against attempts to inflame sectarian tensions in the region, amid the unprecedented escalation in the Middle East.
Al-Sadr said in a statement: “I have been informed that there are those who seek to incite sectarianism in the region, taking advantage of the unprecedented escalation that has occurred in the Middle East.”
He added: “From here I call upon the conscious peoples of the region, especially the people of Iraq, both Sunni and Shia, to be wise and committed to Islamic and Qur’anic law and brotherhood, for the blood of a Shia Muslim is forbidden to a Sunni Muslim, and the blood of a Sunni Muslim is forbidden to a Shia Muslim.
He continued: “I ask them to be aware of the extent of the imminent danger emanating from the common enemy and its extremist arms in the region, here and there.”
Al-Sadr affirmed in his statement: “Sunnis and Shiites are brothers; this religion is not for sale.” He added: “Peace be upon those who reject sectarianism and are brothers among themselves.”
He concluded by saying: “Let us be among those who unite the ranks and not divide them, so that we may stand as a solid structure against all hostile challenges.” https://1news-iq.net/الصدر-يحذر-من-تأجيج-الطائفية-ويدعو-سنة/
Grand Ayatollah Sistani: We Hope That Mojtaba Khamenei Will Succeed In Serving The Iranian People
Baghdad – One News 3/11/2026 The office of Grand Ayatollah Ali al-Sistani expressed hope on Wednesday that the new leader of the Islamic Republic of Iran would succeed in serving the Iranian people and preserving the unity of the country.
In a statement issued from Najaf, the office said that as the memory of the late leader of the Islamic Republic of Iran, Ali Khamenei , is commemorated, it is hoped that his successor will be successful in serving the great Iranian people, repelling the evil of enemies, and preserving national unity and harmony. The statement was issued on the 21st of Ramadan 1447 AH by the office of Al-Sistani in Najaf. https://1news-iq.net/المرجع-السيستاني-نأمل-أن-يوفق-مجتبى-خا/
IRI Warns Syria’s President Against Move Toward Hezbollah And Lebanon
transitional President Ahmed al-Sharaa on Wednesday against any “hostile move” toward Hezbollah or Lebanon, 2026-03-11 / 11:29 Shafaq News- Baghdad A coalition of Iran-aligned Iraqi armed groups warned Syria’s saying such action would amount to “a declaration of war” against the regional “Axis of Resistance.”
In a statement, the group calling itself the Islamic Resistance in Iraq (IRI) cautioned al-Sharaa -also known as Abu Mohammad al-Julani- against coordinating with the “Zionist-American enemy” to target Lebanon.
The factions also warned that Iraqi militants could “respond militarily” if Lebanon’s resistance environment or Hezbollah were targeted.
Earlier today, the same factions claimed they had carried out 291 military operations over 12 days, alleging the attacks killed 13 US personnel and wounded dozens more.
They also said 31 operations involving drones and rockets targeted US military positions in Iraq and the wider region in the past 24 hours.
United States Department of Defense officials have not immediately commented on the claims, which could not be independently verified.
The threats come amid escalating regional tensions following the outbreak of the US–Israeli war against Iran on Feb. 28. Since then, several areas in Iraq and the Kurdistan Region have experienced rocket and drone attacks attributed to Iran-aligned armed groups. https://www.shafaq.com/en/Security/IRI-warns-Syria-s-president-against-move-toward-Lebanon
Al-Saadi: The New Government May Be Formed After The Eid Al-Fitr Holiday.
10 Mar 19:22 Information/Baghdad... Former MP Baqir al-Saadi confirmed on Tuesday that the formation of the next Iraqi government may take place after the Eid al-Fitr holiday.
Al-Saadi told Al-Maalomah, “Despite the current situation in the region, the aggression against Iran, and the repeated targeting of Popular Mobilization Forces units that resulted in martyrs and wounded, efforts to proceed with forming the government are ongoing and it is taking upon itself the management of these files and the endeavor to address the economic and financial crises.”
He added that “expectations indicate that after the Eid al-Fitr holiday, we may witness the formation of a new government, especially since all political forces have become aware of the seriousness of the situation and the need to join forces to resolve the outstanding issues.”
He explained that “the next two weeks could be crucial in finding clear paths to resolve the presidential issue, and then moving to the final stage of tasking the candidate of the largest bloc with forming the cabinet,” stressing that “political meetings in Baghdad are ongoing and may yield more positive results in the coming period.” End/25 F.
Iraqi PM, Saudi Crown Prince Push Diplomacy To Halt Regional War
2026-03-11 Shafaq News- Baghdad Iraqi caretaker Prime Minister Mohammed Shia al-Sudani and Saudi Crown Prince Mohammed bin Salman discussed the escalating regional conflict on Wednesday, stressing the need for coordinated efforts to halt the war and pursue diplomatic solutions.
According to a statement from al-Sudani’s office, the two leaders spoke by phone about developments across the region and the risks posed by continued military escalation.
https://www.shafaq.com/en/Iraq/Iraqi-PM-Saudi-Crown-Prince-push-diplomacy-to-halt-regional-war
A Government Advisor Identifies Two Benefits Of Rising Oil Prices Despite OPEC Restrictions.
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the arrival of global oil prices at the $90 per barrel mark gives Iraq an important financial opportunity to boost its revenues and improve its ability to finance its economic obligations, noting that every increase of one dollar adds hundreds of millions of dollars annually to the public treasury.
Saleh told Al-Furat News Agency that the increase has direct benefits, most notably an increase in financial resources that enable the state to finance infrastructure projects such as electricity, roads and housing, and to meet obligations towards the salaries of employees and retirees, as well as reducing the need to borrow to cover the financial deficit.
He added that increased returns effectively contribute to strengthening the central bank’s foreign currency reserves, which positively impacts the stability of the Iraqi dinar exchange rate, enhances confidence in the financial system, and gives monetary authorities greater ability to cope with economic shocks.
Saleh explained that fully benefiting from these prices faces limitations, including Iraq’s commitments within the OPEC+ alliance, which may impose production quotas, in addition to geopolitical challenges and their impact on the safety of vital maritime routes such as the Strait of Hormuz, which may hinder the smooth flow of exports.
He pointed to a structural challenge in that a large part of the revenues goes towards operating expenses and salaries, calling for the need to invest financial surpluses in building a diversified economic base that includes the industry, agriculture and tourism sectors, to reduce the almost total dependence on oil and avoid the risks of future global price fluctuations.
https://alforatnews.iq/news/مستشار-حكومي-يحدد-فائدتين-من-ارتفاع-أسعار-النفط-رغم-قيود-اوبك
An Expert Identifies Two Conditions For Iraq To Benefit From Rising Global Oil Prices.
{Economic: Al-Furat News} Economic expert Salah Nouri confirmed that the rise in oil export prices positively impacts reducing the state's general budget deficit and enhancing its implementation, explaining that this rise contributes to providing cash liquidity in Iraqi dinars to the Ministry of Finance through the sale of foreign currency proceeds to the Central Bank.
Nouri explained to Al-Furat News Agency that “the increase in oil prices also leads to an increase in the foreign reserves of the Central Bank as a result of the purchase of dollars from the Ministry of Finance, noting that achieving these economic benefits remains conditional on the government’s ability to export the quantities of oil specified in the budget through the seaports under the current exceptional circumstances, in addition to the export quantities through Türkiye.”
He added that "taking advantage of this increase requires ensuring the smooth transfer of export proceeds in dollars from the US Federal Reserve to the Central Bank of Iraq." https://alforatnews.iq/news/خبير-يحدد-شرطين-لاستفادة-العراق-من-ارتفاع-
Iraq Links 40,000 Fuel Tankers To GPS Tracking System To Curb Smuggling
2026-03-11 Shafaq News- Baghdad Iraq has linked 40,000 tankers transporting petroleum products to an electronic GPS tracking system in an effort to curb oil and fuel smuggling, the Ministry of Communications stated on Wednesday.
In a statement, the ministry said the project aims to limit the smuggling of oil and its derivatives and strengthen oversight of their transportation across Iraq.
It was implemented through the state-owned Al-Salam Company, which equipped the Oil Products Distribution Company with the GPS tracking system and connected it electronically to all tankers, whether government-owned or privately operated. “The measure is also intended to improve the efficiency and management of Iraq’s petroleum transport sector nationwide while supporting government efforts to protect national resources,” the statement added.
Earlier,Iraq has cut its oil production by about 2.9 million barrels per day, making it the country with the largest production reduction globally amid the US-Israeli war with Iran and the closure of the Strait of Hormuz.