Iraqi News Tuesday Afternoon 2-15-22
Iraqi News Tuesday Afternoon 2-15-22
TLM724 Administrator BondLady’s Corner
The Delay In Establishing The Port Of Al-Faw Is A Loss Of Sustainable Financial Resources
Tuesday 15 February 2022 202 Baghdad: Imad of the emirate The academic at the Center for Arab and International Studies, Dr. Ahmed Al-Rawi, stated that the maritime location of Iraq adds to it an effective economic force capable of being a solid hub for development serving the country and global economies, after Iraq becomes a major corridor of international trade between the poles of the western and eastern world.
The establishment of the Faw port without justification, and everyone must join efforts to achieve it, due to its role in the sustainable development process,” noting that “the delay in establishing the port is a loss for the country and a deprivation of sustainable resources.”
He said: "The elements of economic renaissance are available, and they start from the sea coast to expand in all regions of the country, and in this approach there are solutions to most of the problems of the national economy, foremost of which is unemployment, as the development of the sea coast requires major ports and this is what Iraq is working on now, and to link these ports With a well-developed road network and railways, all of these will expand the volume of work and provide temporary and permanent opportunities for work.”
International Standing
He added that "these projects enhance its international standing, since the country's possession of these multiple outlets helps in the development and development of economic sectors, in a manner that achieves comprehensive development for the country, especially since the country enjoys ingredients and natural resources."
He continued, "Although Iraq's sea coast is limited to no more than 58 km, it has factors that contribute to enhancing the strategic position of its sea ports, due to its geographical location and depth of civilization in the past and future, and making it a corridor for the movement of trade between East Asia and Europe through the so-called dry channel."
Port Development
Al-Rawi stressed that the large FAO project achieves sectoral interlocking in order to find a comprehensive development for Iraq, by investing its maritime coast to develop navigation and revitalize trade with different countries of the world,” and considered it an important economic project that would support the budget, by receiving large ships.
It is noteworthy that, Iraq's maritime location in the north of the Arabian Gulf contributes to the export of more than four million barrels of oil per day from its oil ports. Which requires serious work towards investing the waterfront in a way that achieves the best financial returns for the country and achieves a real multiplicity of revenues."
He cautioned against "the importance of addressing the challenges that confuse work to expedite the large FAO project and make it important for the development of the Iraqi coast and the achievement of sectoral intertwining in order to find a comprehensive development for the country, through investing its maritime coast to develop navigation and activate trade with different countries of the world, in addition to what the project achieves in terms of A corridor for the international trade movement "Transit" between East and West through the dry canal, and thus will lead to the development of the transport sector, and future estimates of the capacities that the port of Faw will receive indicate that they will reach about 100 million tons annually, and this enhances financial revenues and doubles the need for various specializations.
great interest
The economic affairs specialist, Thamer Al-Haymes, said: "The great FAO project has attracted great attention internationally and regionally, to become a complement to the sustainable development project for our country in its agriculture, industry and tourism, and not just a dry corridor of the Turkish borders to deliver goods of others, and Iraq becomes just a logistical crossing as if it were a mountain or desert corridor. Or just a port,” noting that “our country’s location is one of the most prominent and important areas in the international strategy by land, sea and air, and here we must have international agreements to advance the infrastructure and its real economy, agriculture and industry and tourism.”
He pointed out that "the delay in the completion of the port of Al-Faw causes delays in the country and deprives us of great financial resources, and we do not know the reasons for the delay that accompanied the completion of this important milestone for Iraq, the region and global trade."
Iraq And The Neighborhood
Dr. Al-Rawi pointed out that “Iraq’s location on the Arabian Gulf is crowded out by Iran and Kuwait in the regional waters, and the further away we are from the coast, the territorial waters of the three countries overlap, especially with regard to the location of Kuwait, whose coast surrounds the Iraqi coast through Bubiyan Island, which overlooks its eastern and northern coasts. on Khor Abdullah, and therefore Kuwait’s establishment of Port Mubarak at the entrance to Khor Abdullah has affected the traffic of ships to the ports of Umm Qasr and Khor Al-Zubair.”
Iraq is characterized by a view of the Arabian Gulf with a limited length of a small coastline and narrow and shallow lanes, as the length of the coast on the Arabian Gulf does not exceed 5, 18 km, and the rest is represented by Khor Abdullah and Khor Al-Zubair, in which the main ports of Iraq are located, the port of Umm Qasr and the port of Khor Al-Zubayr, which They receive the bulk of Iraqi imports currently, in addition to the fact that the waters of the Iraqi coast are shallow and characterized by salty mud areas, which requires a rush away to establish ports capable of receiving giant ships such as giant oil tankers in the port. general. LINK
Federal Court: The Oil And Gas Law In The Region Violates The Constitution
Today, Tuesday, the Federal Court issued a ruling that the oil and gas law in the Kurdistan Regional Government is unconstitutional.
A statement by the court stated that it “issued its decision in case 59 / federal / 2012 and unified 110 / federal / 2019 on 15/2/2022, which includes the ruling on the unconstitutionality of the Oil and Gas Law of the Kurdistan Regional Government No. 22 of 2007 and its cancellation for violating the provisions of articles (110, 111, 112 and 115). and 121 and 130) of the Constitution of the Republic of Iraq for the year 2005.
She explained that "The regional government is obligated to hand over the entire production of oil from the oil fields in the Kurdistan region and other areas from which the Ministry of Natural Resources in the Kurdistan Regional Government extracted oil and handed it over to the federal government represented by the Federal Ministry of Oil and enabling it to use its constitutional powers regarding oil exploration, extraction and export, and the Ministry of Oil has the right to follow up the invalidity The oil contracts concluded by the Kurdistan Regional Government with foreign parties, countries and companies regarding oil exploration, extraction, export and sale, and obligating the Kurdistan Regional Government to enable the Iraqi Ministry of Oil and the Federal Office of Financial Supervision to review all oil contracts concluded with the Kurdistan Regional Government regarding the export and sale of oil and gas for the purpose of auditing and determining the financial rights ensuing The Kurdistan Regional Government is responsible for it and that the region’s share of the general budget is determined in a manner that guarantees the delivery of the rights of the citizens of the Kurdistan region’s governorates from the federal general budgetAnd not to delay it and notify the Federal Government and the Federal Office of Financial Supervision of that.” https://www.radionawa.com/all-detail.aspx?jimare=28034
Talabani Announces Her Position On The Court's Decision That The Oil And Gas Law In The Region Is Unconstitutional
Tuesday, February 15, 2022 5:18 PM Special / National News Center Today, Tuesday, the leader and former representative of the Patriotic Union of Kurdistan, Ala Talabani, announced her position on the Federal Court's decision that the oil and gas law in the Kurdistan Regional Government is unconstitutional.
Talabani said in an exclusive statement to the "National News Center", "I hope that the decision will urge Parliament in this session to expedite the legislation of the oil and gas law after the failure to legislate it during four parliamentary sessions."
And she added, "The decision is the best solution to most of the problems and differences that exist between Baghdad and the Kurdistan region over oil exports and imports."
And the Federal Supreme Court of Iraq, earlier today, issued a ruling that the oil and gas law in the Kurdistan Regional Government is unconstitutional for violating the federal constitution.
The court obligated the regional government to enable the Ministry of Oil and the Federal Office of Financial Supervision to follow up on the conclusion of contracts for the sale of oil and gas.
https://nnciraq.com/113413/
Kurdistan Oil Cases In The Courts: The Federal Government Settles One And The Other Is Frozen In Paris
Political | 05:04 - 15/02/2022 Special - Mawazine News After a deep political debate that extended to more than one successive Iraqi government between activating the issue of Kurdistan's export of oil without Baghdad's approval and stopping it by the federal government, the Federal Court issued, today, Tuesday, a ruling that the oil and gas law in the regional government is unconstitutional.
A statement by the court stated that Mawazine News received a copy of it, that it "issued its decision in case 59 / federal / 2012 and unified 110 / federal / 2019 on February 15, 2022 which includes the ruling that the oil and gas law of the Kurdistan Regional Government No. 22 of 2007 is unconstitutional and its cancellation. For violating the provisions of Articles (110, 111, 112, 115, 121 and 130) of the Constitution of the Republic of Iraq for the year 2005.
She explained that "The regional government is obligated to hand over the entire production of oil from the oil fields in the Kurdistan region and other areas from which the Ministry of Natural Resources in the Kurdistan Regional Government extracted oil and handed it over to the federal government represented by the Federal Ministry of Oil and enabling it to use its constitutional powers regarding oil exploration, extraction and export, and the Ministry of Oil has the right to follow up the invalidity The oil contracts concluded by the Kurdistan Regional Government with foreign parties, countries and companies regarding oil exploration, extraction, export and sale, and obligating the Kurdistan Regional Government to enable the Iraqi Ministry of Oil and the Federal Office of Financial Supervision to review all oil contracts concluded with the Kurdistan Regional Government regarding the export and sale of oil and gas for the purpose of auditing and determining the financial rights ensuing The Kurdistan Regional Government is responsible for it and that the region’s share of the general budget is determined in a manner that guarantees the delivery of the rights of the citizens of the Kurdistan region’s governorates from the federal general budgetAnd not to delay it and notify the Federal Government and the Federal Office of Financial Supervision of that.”
According to what was mentioned, the oil expert Hamza Al-Jawahiri confirmed, on Tuesday, that the region is facing two judgments after the Federal Court's decision to cancel all its contracts regarding oil.
Al-Jawahiri said in an exclusive interview with Mawazine News, that the region is now facing two judgments, the first is: Either recover 84 billion dollars from the sale of oil and gas, or submit to a lawsuit brought by Baghdad to a commercial court affiliated with the International Chamber of Commerce in Paris at the beginning of last year.
Meanwhile, the representative of the Al-Fateh Alliance, Faleh Al-Khazali, considered that the Federal Court's decision regarding Kurdistan oil is a victory for justice.
Khazali said in a television interview, which was followed by "Mawazine News", that the sums owed by the Kurdistan region are more than 128 billion dollars, in addition to other imports.
He added, "The region's wealth is for all components of the Iraqi people, and they must hand over the imports to the federal government."
Khazali stressed that Kurdistan was exporting oil in an unconstitutional manner, and the Federal Court's decision was a reform step.
And he continued, "A committee was formed that diagnosed violations by Kurdistan regarding the export of oil, and Al-Kazemi tolerated this issue."
He pointed out that Al-Kazemi did not hold the Kurdistan Region accountable for exporting oil, despite the recommendations made to him by the Violations Diagnostic Committee.
In the meantime, according to a lawsuit filed by Baghdad with a commercial court affiliated with the International Chamber of Commerce in Paris at the beginning of last year, the Iraqi government is asking its Turkish counterpart to pay about $26 billion to Iraq, resulting from the latter’s import of the region’s oil during the past years without official approval from the Baghdad.
This call, which was presented by the second government of Nuri al-Maliki, in its last weeks, went through different stages. Former Prime Minister Haider al-Abadi froze it at the end of 2014, then did it in early 2017, before freezing it in his last days at the head of the government, then the resigned Prime Minister, Adel Abdul Mahdi, suspended it at the request of the Kurdish leadership.
https://www.mawazin.net/Details.aspx?jimare=184735
Public-Private Partnership Slogans In Vain
Tuesday 15 February 2022 177 Baghdad: Hussein Thaghb A specialist in economic affairs stressed the inevitability of working towards finding solutions to the deteriorating economy, whose effects are escalating on the largest proportion of Iraqi society, through the intertwining of the economic scene to complex borders.
The specialist in economic affairs, Khaled Al-Jabri, said that "the public and private sectors must have a real and prominent role in the advancement of performance inside the country, as we heard many headlines that dealt with the partnership between the public and private sectors, but so far we have not found a serious step on the ground that serves the economy." or go to forward".
He pointed out that he "believes in the importance of partnership between the public and private sectors to support the economic development process, and unify their efforts to address the challenges that stand in the way of production and services that everyone hopes to mobilize in order to support the country's public finances, but the joint activity must end with serving the citizen and returning to it." Benefit and transform the life of the community to a better stage.
He said: "Economic reform begins with the real partnership of the two sectors through which integration is achieved between the two parties in a way that gives each party its real role in performance within the local labor market, as providing the appropriate environment to activate production and services is the responsibility of the public sector, and the private sector occupies its serious tasks." In implementation and achievement, as he has executive capabilities and capital that can be invested in major strategic projects inside the country, and this needs the capital to feel safe.”
Market economy
He pointed out "the importance of the role of the private sector in reviving the economy and activating the production wheel, and giving it great importance in managing the economic file, especially since the constitution approved the transition towards an open market economy, which gives the opportunity to manage the economic file to the private sector, and the role of the state is regulating the reality of performance." economic".
He pointed out that "Iraq has a large banking system that urgently needs to develop its joints to be able to complete the financing required by the country's economy, as we find in front of the private banking system, a national task by contributing to addressing the total problems facing the economy, especially in the financing joint, and here it is necessary From adopting trends aimed at making private banks an essential partner in the process of activating the joints of the Iraqi economy in all its sectors.”
It is mentioned that the reality of the infrastructure in Iraq suffers from a state of collapse, and that private banks have the task of actively contributing to the development of their performance by using their money in the implementation of infrastructure projects in all cities of the country, and the role of this in creating many job opportunities for a wide segment of the population. Young.
Attractive environment
It is noteworthy that economic sources stressed the importance of working towards transferring the experiences of countries that went through the same conditions that are going on in our country, and the private sector was a pioneer in developing its economy through the interaction that took place between the private and public sectors, as it required the concerned authorities to provide an environment that attracts international effort and the necessary capital to activate investments in the country.
The sources indicated that the private banking sector is working on holding seminars and development courses in order to reach the level of professional financial institutions in the region and the world, and that this needs to be given sufficient opportunities to establish its existence. LINK
Oil Prices Fell By 4%
Economie| 05:46 - 15/02/2022 BAGHDAD - Oil fell nearly 4 percent from a seven-year high on Tuesday, after Russia said some of its military units had returned to bases after exercises near Ukraine, in a move that appeared to ease tensions between Moscow and the West.
Brent crude fell $3.38, or 3.5 percent, to $93.10 by 1232 GMT. US West Texas Intermediate crude fell $3.71, or 3.9 percent, to $91.75.
Both oil benchmarks hit their highest levels since September 2014 on Monday, with Brent touching $96.78 and WTI reaching $95.82. The price of Brent crude rose 50% in 2021 as the global recovery in demand from the Covid-19 pandemic strained supply. https://www.mawazin.net/Details.aspx?jimare=184742
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