Iraqi Economic News and Points To Ponder Thurs Evening  9-7-23

Alekti Reveals The Details Of The Decision To Send 500 Billion Dinars To The Region

Information/exclusive..   The Patriotic Union of Kurdistan revealed, today, Thursday, the details of the government's decision to send 500 billion dinars to the Kurdistan Regional Government, while confirming that the sums belong to foreign debts that have nothing to do with oil companies or employees' salaries.

A member of the National Union, Burhan Sheikh Raouf, said in an interview with Al-Maalouma agency, "According to the sources, there are previous debts of the region to the central government estimated at 30 billion dollars," noting that "the money was sent after settling accounts between the regional government and the center regarding the budget and some The financial paragraphs that were stuck.

He continued, "Ending the problems between the two parties contributed greatly to agreeing to send 500 billion dinars per month to the region," pointing out that "all financial accounts between the two parties will be settled in return for ending all previous crises."

Regarding the decision to send 500 billion dinars, Sheikh Raouf confirms: "The sums belong to foreign debts that have nothing to do with the money of oil companies or the salaries of employees."

Earlier, the Council of Ministers, headed by Muhammad Shia al-Sudani, approved during its regular session the decision to send 500 billion dinars to the Kurdistan region after the crisis of stopping oil exports to Turkey by the decision of the Paris International Court.

The political analyst, Qassem Balshan, had confirmed in an interview with Al-Maalouma Agency, "The lack of transparency from the government regarding sending funds to the Kurdistan Regional Government," adding that all successive governments did not exercise their legal and constitutional powers with the region in many files.   LINK

Where Will The Sums Be Deposited After The Resumption Of Oil Exports Through Türkiye?

Information/exclusive..   A member of the Oil, Gas and Wealth Committee, Kazem Al-Touki, confirmed today, Thursday, that the sums of oil revenues after the resumption of oil exports through Turkey will be deposited in a bank that will be under the authority of the Ministry of Finance, adding that the bank will also be at the disposal of the Kurdistan Regional Government.

Al-Touki said in an interview with Al-Maalouma agency, "The region's government will be able to withdraw its percentage from the oil export sums deposited in the bank," noting that "the region has 50% of the revenues from the border crossings in Kurdistan."

And he continued, "The government will work to deduct the payments that were sent to the region in the amount of 400 billion dinars from the general budget in the previous period," noting that "the amounts of oil revenues after the resumption of oil exports through Turkey will be deposited in a bank that will be under the authority of the Ministry of Finance."

Al-Touki concluded his speech: "The bank in which the sums will be deposited after the resumption of the export process will be at the disposal of the Kurdistan Regional Government in the coming period."

The regional government controls a group of oil fields outside the borders of Kurdistan, without any government move to compel it to leave these fields despite the loud voices of some politicians on this matter, as the region continues to export oil to various parts of the world, including "Israel", according to observers.

Member of the Parliament, Zahra Al-Bajari, had revealed, in an interview with Al-Maalouma Agency, that "the Kurdistan region continues to smuggle oil abroad in several alternative ways than it was in previous years." LINK

A Parliamentarian Reveals A Loophole That Hinders The Resumption Of Oil Exports Through Türkiye

 A member of Parliament, Jassem Atwan, revealed a loophole that stands in the way of resuming the export of Iraqi oil via Turkey, while stressing that the main problem lies in finding solutions to previous contracts that the region signed directly with oil companies.

Atwan said in a press interview seen by “Takadam” that “the recent paragraphs of the House of Representatives in the general budget oblige oil companies to contract with the central government directly,” noting that “there are common interests regarding the resumption of oil exports between Iraq and Turkey.”

He continued, "The transactions that took place in the previous period were outside the controls that were voted on in the general budget," noting that "all problems are on their way to a solution after the government and the national SOMO company took control of oil in Kurdistan."

And the member of the House of Representatives concluded his speech, saying: “The government has reached understandings regarding the resumption of oil exports through the Turkish port of Ceyhan,” adding that “the main problem now is finding solutions to previous contracts that the region signed directly from the oil companies.”   https://takadum-news.com/archives/182033#hathalyoum

Parliamentary Oil: The Government Has Taken Measures To Ensure The Disposal Of The Quantities Of Oil Produced In The Region

Economy  2023-09-07   The Parliamentary Oil Committee confirmed that the government has taken measures to ensure the disposal of the quantities of oil produced in the region.

A member of the committee, Kazem Al-Tuki, said that the export of oil, after it stopped via Turkish territory, the oil of the Kurdistan Region, it was agreed to transfer it to the refineries, as well as export it to Jordan, which commissions a process through tanks towards Amman.

He added that the government measures that followed the suspension of oil exports through Turkey, according to which the region's oil quantities amounting to four hundred thousand barrels per day were drained, in addition to the continuation of export according to the OPEC agreement through Basra.

And he indicated that the issue of stopping exports through Turkish territory was not a technical issue, but rather a purely political one, after judicial decisions that stopped exports through Turkey.

https://kirkuktv.net/AR/Details/17251

Points to Ponder on “Facts” and Opinions

Any fact is better established by two or three good testimonies than by a thousand arguments -- Emmons

Facts are to the mind, what food is to the body -- On the due digestion of the former depend the strength and wisdom of the one, just as vigor and health depend on the other -- The wisest in council, the ablest in debate, and the most agreeable companion in the commerce of human life, is that man who has assimilated to his understanding the greatest number of facts -- Burke

Every day of my life makes me feel more and more how seldom a fact is accurately stated; how almost invariably when a story has passed through the mind of the third person it becomes, so far as regards the impression it makes in further repetitions, little better than a falsehood; and this, too, though the narrator be the most truth-seeking person in existence -- Hawthorne

There should always be some foundation of fact for the most airy  fabric; pure invention is but the talent of a deceiver -- Byron

Opinions are stronger than armies -- If they are founded in truth and justice, they will, in the end, prevail against the bayonets of infantry, the fire of artillery, and the charges of cavalry -- Lord Palmerston

He than never changes his opinions, never corrects his mistakes, and will never be wiser on the morrow than he is today -- Tryon Edwards