Iraqi News Highlights Friday Evening 6-9-23

Iraqi News Highlights Friday Evening 6-9-23

Tlm724 Administrator Bondlady’s Corner

Shaddad: The Oil And Gas Law Will See The Light Immediately After The Budget

Information / Baghdad..The Oil and Gas Committee confirmed, on Thursday, the existence of a prior agreement between the forces of the state administration to legislate the oil and gas law immediately after approving the budget, indicating that the region has no choice but to proceed with the legislation of the law.

Committee member Representative Ali Shaddad Al-Faris said in a statement to Al-Maalouma, that "the regional government and its political forces have no choice but to proceed with the legislation of the oil and gas law, especially after Federal Court Decision No.

An exaggeration by the Central Bank of Iraq through the Federal Ministry of Finance, as well as the decision of the International Court in Paris, which prevented Turkey from receiving oil through the region and exporting it abroad, as large financial fines were imposed on the Turkish side in this regard.  He added,

"The forces of the state administration, including the Kurdish parties, have a prior agreement to legislate the oil and gas law immediately after voting on the federal budget.

Likewise, the Oil and Gas Committee also has prior directives from the forces of the state administration to prepare to discuss the law to put it to vote."

It is noteworthy that the suspended oil and gas law in Parliament since its first session, in 2005, is one of the most prominent points on which a preliminary agreement was reached between the governments of Baghdad and the region,

but the law faces many obstacles, despite the fact that it helps to resolve the differences between the governments of Baghdad and the region. End / 25 pm

https://almaalomah.me/news/politics/شداد:-قانون-النفط-والغاز-سيرى-النور-بعد-الموازنة-مباشرة

Iraq Asks America To Solve The Problem Of Financial Dues To Iran For Gas And Electricity Exports

Money  and business  Economy News _ Baghdad  The Iraqi government asked the United States of America to solve the problem of financial dues to Iran for its gas and electricity exports to Iraq.

And the Iraqi Ministry of Foreign Affairs stated in a statement today, Friday, that the Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, met yesterday, Thursday, 8/6/2023, with US Secretary of State Anthony Blinken, on the sidelines of the ministerial meeting of the International Coalition against ISIS, which is taking place in Riyadh.

The statement added that during the meeting, they discussed various aspects of bilateral relations between Baghdad and Washington, and ways of cooperation in various fields, and the minister stressed the importance of continuing joint work and cooperation within the "strategic framework agreement for the relationship of friendship and cooperation between the Republic of Iraq and the United States of America," appreciating the efforts of the United States. Leader of the international coalition in the fight against the terrorist organization Daesh.

The two sides discussed a range of bilateral, regional and global issues, and discussed Iraq's efforts to boost its economy and achieve energy independence, according to the statement.

The two ministers also discussed a number of regional and international issues of common concern, stressing the need to work to reduce tension, achieve calm in the region, and avoid escalation that will not serve any party.

In another aspect of the dialogue, the two ministers discussed the financial dues of the Iranian government to Iraq due to the purchase of gas and electricity from the Islamic Republic of Iran, and how to deal with the US measures against international banks, including Iraqi banks, as these measures are within the framework of the US sanctions policy on Iran.

The Deputy Prime Minister stressed the need to find a solution to this problem, as it directly affects the electrical sector in Iraq, and from this standpoint, he thanked the American side for allowing the issue of financial payments to Iranian pilgrims and from Iranian money in Iraqi banks to be resolved.

For his part, US Secretary of State Anthony Blinken affirmed that the United States is committed to supporting the stability of Iraq and the democratic process in it, and supports political stability, communication and joint action between the federal government and the Kurdistan Regional Government in a way that enhances the status and strength of Iraq in the region, hoping to reach understandings to solve outstanding problems between the two parties, especially in The oil and financial field. Views 83   06/09/2023 - https://economy-news.net/content.php?id=34651

Fall In Oil Prices

Friday 09, June 2023 10:07 | Economical Number of readings: 476  Baghdad / NINA / - Oil prices fell in early Asian trading on Friday.

Brent crude futures fell 36 cents, or 0.5%, to $75.60 a barrel, while US West Texas Intermediate crude fell 33 cents, or 0.5%, to $70.96 a barrel.

The two benchmarks fell about a dollar yesterday, Thursday, compensating for some of their losses, which earlier exceeded three dollars, after Washington and Tehran denied the validity of a report by the Middle East Eye website stating that they were close to reaching a nuclear agreement.

For the week, the two benchmarks are on track to incur a loss of about 1% and towards a second week of losses.

Oil prices rose earlier in the week after Saudi Arabia pledged large production cuts, but the gains were pared by an increase in US fuel inventories and weak Chinese export data.

On Thursday, the United States and Iran denied a report that they were close to concluding an interim agreement under which Tehran would halt its nuclear program in return for sanctions relief, including allowing it to export up to 1 million barrels of oil per day./ End

https://ninanews.com/Website/News/Details?key=1058534

The Governor Of The Central Bank Meets With The Vice President Of JP Morgan Bank

June 09, 2023    His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Allaq, met with the Vice President of the American J.P. Morgan Bank, Mr. (Daniel Zeljko) in Baghdad.

 The two parties discussed ways of cooperation between JP Morgan Bank and the Central Bank of Iraq, and the  American bank's willingness to support a number of Iraqi banks in financing foreign trade operations in the US dollar. 

 Mr. Zelikow praised the recent measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing and the adoption of international standards in money transfers.

His Excellency the Governor of the Central Bank of Iraq called on Mr. Zeljko to open a representative office in Iraq, promising him to provide the necessary support to facilitate this step, as it represents positive repercussions on the Iraqi economy in general, and the banking sector in particular, while the meeting touched on joint cooperation in the fields of investment management and technical support. training, in various fields.

It is noteworthy that JPMorgan Bank is the largest US bank in terms of financial assets, with assets amounting to about $4 trillion.

Central Bank of Iraq    information Office   9- June – 2023  https://cbi.iq/news/view/2353

 

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