KTFA:

Samson:  An economist predicts the emergence of a new global financial system

09/04/2022 12:07:43

The Russian economist, Anton Tabagh, said that the current system of monetary relations and trade settlements has been in crisis for a long time, but the recent geopolitical events may take another dimension and form.

The expert said in a press interview, "The current financial system has deteriorated for a long time. The stagnation in the volume of trade exchange and freedom of trade has worsened since 2012, and the financial system is collapsing due to the requirements of regulators and anti-money laundering, and more recently also because of sanctions. Taking into account the recent events that if it takes place outside the financial sphere, this process can take another complete form.”

The economist expressed confidence that the new system is in the process of taking shape.

“If you look at history, something similar happened already in the second half of the nineteenth century, when currency blocks and customs unions were created, restrictions and fees were imposed on transactions outside these blocks and unions. Now we are seeing this at a new stage and a new technological level,” he said.  LINK

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Samson:  “Moscow Is Awash With Money.” A French Press Report Reveals Russia's Oil And Gas Revenues

4th September, 2022

French journalist, Francois Lenglet, said that Russia earns 3,700 euros every second from selling oil and gas.

The journalist indicated, during his intervention on the "RTL" channel, that the sanctions did not have a negative impact on oil and gas revenues in Moscow, but rather increased their growth. He explained that after the imposition of sanctions due to the conflict in Ukraine, Russia's income from fuel exports increased by 40%. Thanks to Western sanctions, prices rose, sparking speculation in global markets.

The trading volume is a little smaller but at much higher prices, which means making a lot of money,” Lenglet said, adding that Russia is “literally awash with money.”

 He also noted that while Russia is making money from sanctions, Westerners need to save money and fight rising inflation. He said: “European countries have paid Russian President Vladimir Putin more than 86 billion euros since February 24. It's 3,700 euros every second."

The journalist concluded: “I have been speaking for a minute and a half, during this time more than 300,000 euros passed from Europe to Russia, and this does not count for other countries.

Earlier, Hungarian Foreign Minister Peter Szijjarto said that his country would not be able to provide gas for itself without supplies of Russian blue fuel. He explained that buying gas from Russia is not a sign of political support, but rather "the reality of the region."  LINK

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Samson:  Iran announces the discovery of copper reserves of one billion tons

4th September, 2022The Executive Director of the National Iranian Company for Copper Industries, Ali Rostami, announced on Sunday the discovery of copper reserves estimated at one billion tons in the northwestern region of East Azerbaijan.

Rostami said, in a statement reported by "Fares" and seen by "The Information", that by carrying out drilling operations that reached more than 28 thousand meters in the "Songun" copper mine in East Azerbaijan, new reserves of copper were reached, rising from 4 billion to more than 5 billion. billions of tons.

He added that the economic value of the newly discovered reserves amounts to more than 50 billion dollars, and that efforts are being made to start the National Copper Company for development projects in this area quickly.

Rostami noted that with the new discovery, the proportion of reserves at the Songun mine increased by more than 25 percent, considering that the enhancement of resources by one billion tons is rare and huge, although it is estimated that the discovered reserves are more than one billion tons.  LINK

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Samson:  The National Bank of Cambodia issues a commemorative note

4th September, 2022

The National Bank of Cambodia put into circulation a commemorative banknote of 30,000 riyals.

Where the National Bank of Cambodia informed the Central Bank of Iraq that it was officially put into circulation, along with the current official banknotes, a commemorative banknote of 30,000 riyals on 10/18/2022. LINK

Samson:  The UAE is moving to invest in a tourist area in the Kurdistan Region

4th September, 2022

The Emirati Consul General in Erbil, Ahmed Al Dhaheri, visited the administration of the independent "Soran" region and met with local officials in it to get a closer look at the possibility of investing in the tourism sector in this region, which includes many tourist places and picturesque nature in the Kurdistan Region of Iraq.

The supervisor of the administration of the region, Halgurd Sheikh Najib, said in a joint press conference held with the consul, that Soran is a large tourist area, indicating that this is the first visit by the consul to the region, in which we talked about the goals of establishing the independent administration in Soran.

And he added, "In the presence of local officials, we had an extensive dialogue with the consul about the projects and programs of the Soran region," stressing that the Soran administration and the regional government are making efforts to pay more attention to the tourism sector in Soran, and to provide all facilities to investors who wish to work in this sector, especially the UAE, which it has a great program in this field. 

In turn, the Emirati consul said during the conference, "Today we worked to find a formula of understanding with the supervisor of the Soran region administration to develop an investment map so that we can work together in the future," adding that the UAE is interested in investing in the Kurdistan Region.

The administration of the region, which is located north of Erbil Governorate, includes four districts, which are: Khalifan district, Saidkan district, Diana district, Sarshmeh district, and about 346 villages. East Mount Hendren.  LINK

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Samson:  15 years imprisonment for an employee in Al-Rafidain for embezzling bank funds

09/04/2022 09:20:05

The Rusafa Criminal Court, which is competent to look into integrity issues, issued a fifteen-year prison sentence against (an employee of Al-Rafidain Bank) for committing a money laundering crime “to embezzle the bank’s money.”

The media center of the Supreme Judicial Council stated in a statement that {Euphrates News} received a copy of it, that "the court issued a decision to confiscate two properties belonging to the criminal and return them to the Rafidain Bank." 

He added that "the verdict against the criminal comes in accordance with the provisions of Article 36 of the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015".  LINK