KTFA Members "News and Views" Monday PM 2-21-2022
KTFA:
Central Bank: The dollar exchange rate is stable and there are no intentions to change it LINK
Salamon69: Hmmmmm. CBI Website just came back up online with a new article saying that they have no intention of changing the exchange rate.
Isn’t that what Kuwait did days before they did change the exchange rate ?
Seems we should look what they do and not what they say ! Interesting what Frank and his team will have to say about this.
We must be CLOSE
Samson: Hussein arrives in New York and an important Security Council resolution on Iraq tomorrow
02/21/2022 09:46:37
Foreign Minister Fouad Hussein arrived in New York to attend the UN Security Council session.
It is expected that the Security Council, after its meeting in New York tomorrow, Tuesday, will issue a decision regarding Iraq’s exit from all the provisions of Chapter VII.
Abdul Basit Turki, head of the Committee of Financial Experts responsible for managing the file of financial compensation imposed on Iraq as a result of its invasion of Kuwait in 1990, said that “the latest report (the UN Compensation Committee) did not do justice to Iraq in anything.” Although he fulfilled all his obligations. LINK
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Samson: A day before its meeting, the Iraqi government addresses the Security Council regarding the seventh item
02/21/2022 12:44:25
The Iraqi government addressed the UN Security Council regarding Iraq’s lifting of Chapter VII sanctions following the Saddam regime’s invasion of Kuwait in 1991, prior to the council meeting scheduled for tomorrow, Tuesday.
Adviser to the Prime Minister, Mazhar Muhammad Salih, told {Euphrates News} that “Iraq is seeking to get out of Chapter VII, especially since during the 3 decades of the Kuwait war it has fulfilled all its financial obligations towards the neighboring country and paid more than 52 billion dollars, and the financial dealings were praised.” Iraq in this regard.
And he stressed that “after the passage of 3 decades, this page must be turned, and Iraq should move from the seventh to the sixth item and resort to friendly work with Kuwait and establish good-neighborly relations between the two countries.”
It is expected that the Security Council, after its meeting in New York tomorrow, Tuesday, will issue a decision regarding Iraq’s exit from all the provisions of Chapter VII.
Foreign Minister Fouad Hussein arrived in New York today to attend the Security Council session.
Abdul Basit Turki, head of the Committee of Financial Experts responsible for managing the file of financial compensation imposed on Iraq as a result of its invasion of Kuwait in 1990, said that “the recent report of the UN Compensation Committee did not do justice to Iraq in anything,” and suggested that the possibility of Iraq’s exit from the provisions of the chapter was likely to falter. Seventh, despite fulfilling all his obligations. LINK
KBC123: Oh my….. I do hope they are released from Chapter VII!
Sarge: I’m with ya. I think this is what’s holding everything back. IMO
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Mally: I believe it is a three day meeting. So not moved but it is scheduled to be about Iraq multiple days according to some articles I’ve seen. I’m not sure if Im allowed to post news links but this one explains some of the days itineraries.
MilitiaMan: Looks like the timing of this UN meeting is very interesting ~ MM
Sounds like they are definately going to have discussions on the files to release Iraq from
Chapter VII starting tomorrow, however, I notice they use wording
that they are also to discuss the possibility of issuing a briefing in light of the UNAMI report.
It almost, sounds like they are having a little brinkmanship going on with respect to the final decision.
Will they want them to have an assurance they will have or even have had an exchange rate agreement to show that they are going to go fully international once the decision is made. I wonder if there is a Tit for Tat going on.
The language makes me think it is possible. imo Using the word possibility, leaves it open imo.. Interesting. ~ MM
Clare: Security Council Media Stakeout: 1) Iraq. Tue 22 Feb 2022, 2:45pm – 6:00pm … Description 1) Immediately following the SC meeting on the situation between Iraq and Kuwait (8971st meeting): Foreign Minister of the Republic of Iraq, H.E. Fuoqd Hussein
https://www.un.org/webcast/schedule/latest.html
The situation between Iraq and Kuwait – Security Council, 8971st meeting
Tue 22 Feb 2022, 3:00pm – 6:00pm
Description
Letter dated 10 February 2022 from the President of the Governing Council of the United Nations Compensation Commission addressed to the President of the Security Council
https://www.un.org/webcast/schedule/latest.html
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Samson: Oil is back, and Brent is near $94
02/21/2022 14:19:56
Oil prices returned to rise today, Monday, after witnessing a wave of fluctuations in early trading, amid growing concerns about a possible conflict between Russia and Ukraine, with the United States and the European Union clarifying that Russia will face sanctions if it invades its neighbor.
After the Brent crude futures contract for April delivery touched $95 a barrel, it fell slightly by 0.01% to $93.53 a barrel, before returning and rising near $94.
And US West Texas Intermediate crude futures for March delivery rose 1.8 percent to $ 92.75 a barrel in early trading, but it trimmed these gains, bringing its profits to 0.26 percent to $ 91.33 a barrel.
“If a Russian invasion happens, as the US and UK have warned in recent days, Brent crude futures could rise above $100 a barrel,” Commonwealth Bank analyst Vivek Dar said in a note LINK