Sunday Iraq News Posted by Tishwash at TNT 7-12-2026
TNT:
Tishwash: Al-Zaidi Heads to U.S. to Transition Ties into Long-Term Economic Partnership
Government spokesperson Haider al-Aboudi announced that Iraqi Prime Minister Ali Faeh al-Zaidi will lead a high-level delegation to the United States on Monday to sign key memorandums of understanding in the oil and gas sectors.
Al-Zaidi will be accompanied by several cabinet ministers, the Central Bank Governor, and private investors from the energy and banking sectors.
Channel8 earlier reported that the delegation will discuss key security, economic, and banking issues with U.S. officials, with a central focus on drawing American investments into Iraq's oil, electricity, and natural gas sectors.
Al-Zaidi previously stated that his trip to Washington is "not just a routine protocol visit" and that Iraq "prioritizes American companies" as it actively pivots from military to economic ties.
Al-Aboudi: Al-Zaidi's US Visit to Prioritize Balanced Ties
Al-Aboudi told a press conference on Sunday that the visit aims to build balanced foreign relations based on mutual interests, noting that al-Zaidi will hold crucial meetings with President Trump and financial institutions to turn these dialogues into real progress.
He stressed that the visit aims to strengthen ties with Washington, with discussions focusing primarily on developing economic and investment relations.
Al-Aboudi highlighted that the visit aims to boost Iraq's regional presence by prioritizing talks with the U.S. on economic cooperation, development, and investment in the energy, trade, and technology sectors.
Economic Partnership and Focus on Energy and Framework Integrity
The spokesperson noted that unlike previous visits, "its primary theme is the economy," emphasizing that all new agreements will remain fully based on the existing Strategic Framework Agreement.
He emphasized that upcoming Iraq-U.S. energy agreements will bring in specialized American firms to boost oil and gas production and build alternative export routes to avoid the Strait of Hormuz crisis.
Haider al-Aboudi further emphasized that the bilateral dynamic will transition from "crisis management to a long-term economic partnership." link
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Tishwash: Al-Zaidi heads to Washington carrying files on the economy and weapons in a pivotal visit to the White House
All eyes are on the upcoming visit of Iraqi Prime Minister Ali al-Zaidi to the White House next week, in one of the most significant milestones in Iraqi-American relations in recent years .
This visit comes amid increasing pressure on Baghdad to address the issue of armed factions, coinciding with the Iraqi government's efforts to expand economic and investment cooperation with the United States .
A report by Middle East Eye stated that “US President Donald Trump views Iraq from the perspective of economic and investment opportunities, while al-Zaidi seeks to capitalize on this trend to strengthen relations with Washington and gain the support of the US administration, which gives him more room to implement his government program, and at the forefront of his priorities is restricting weapons to the state and reorganizing Iraq’s regional relations .”
According to the report, "During his visit, Al-Zaidi will carry a package of economic agreements, including expanding the initial agreement with Chevron to develop one of the oil fields in Basra Governorate, in addition to increasing the investments of another American company in the Akaz gas field in Anbar Governorate ."
He added: "The visit's agenda also includes the signing of an agreement to rehabilitate the Kirkuk-Banias pipeline, which connects Iraq to the Syrian coast, in a project that Washington sees as part of its plan to ensure the continued flow of energy supplies and reduce the impact of any disruptions in the Strait of Hormuz ."
He noted that "the US envoy to Syria and Iraq, Tom Barrack, is working to prepare initial understandings before al-Zaidi arrives in Washington, as part of a strategy aimed at expanding the presence of American companies and reducing Iranian economic influence within Iraq ."
The report noted that "the resumption by the United States of transferring Iraqi oil revenues deposited with the Federal Reserve in New York, days before the visit, has political dimensions that go beyond the financial aspect, and reflects Washington's desire to open a new chapter of cooperation with Baghdad ."
He explained that "in contrast, the issue of armed factions will occupy a key position in the White House talks, as the US administration seeks to obtain clear Iraqi commitments regarding ending the influence of armed groups linked to Iran, and stopping attacks targeting US interests and the Gulf states ."
Al-Zaydi had given those factions until September 30 to hand over their weapons to the state, coinciding with the end of the international coalition’s mission in Iraq, but some of the main factions, including Kataib Hezbollah and Harakat al-Nujaba, still refuse to give up their weapons .
The report also addressed the anti-corruption campaign launched by the Iraqi government, considering that it "strengthened al-Zaidi's position before the American administration, after it included prominent figures and officials, including those close to the previous government and figures associated with the Popular Mobilization Forces ."
The report concluded that "the success of the visit will not be measured by the number of economic agreements that will be signed, but rather by the ability of the Iraqi Prime Minister to convince Washington that his government is capable of implementing real reforms and making progress in the issue of restricting weapons to the state, while at the same time maintaining balance in Iraq's regional relations link
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Tishwash: Parliamentary Finance Committee reveals details of the 2027 budget
The head of the parliamentary finance committee, Uday Awad ,
revealed on Saturday the most prominent aspects of the 2027 budget proposal, explaining that it will adopt a program and performance budget in a number of government institutions and agencies.
Awad told Al-Maalomah News Agency, "The 2027 budget will be a program and performance budget, while the remaining sections will be structured according to the program and performance guidelines." He explained that "this approach comes within the framework of developing budget preparation mechanisms and enhancing the efficiency of government spending."
He added that "the application of the program and performance budget will include the Ministry of Electricity, in addition to the governorates of Salah al-Din and Diwaniyah, as the first phase of the project," emphasizing that "adopting this method contributes to raising the level of oversight of spending and achieving better results in the implementation of projects and services." lin
Tishwash: Economists: Iraq's international acceptance has broadened following Operation Dawn.
Iraq is betting that its ongoing anti-corruption campaign will be a starting point for restoring international confidence, as experts believe that establishing the rule of law and holding corrupt individuals accountable sends a positive message to financial institutions and investors, and may be reflected in improved economic indicators and governance.
Turning point
The academic, Dr. Kazem Eidan, described the current moves as a “real turning point” if the state continues to fight corruption without exceptions or selectivity, indicating that the international community does not build its confidence on statements, but on results, the rule of law, and the independence of the judiciary.
Eidan explained in an interview with Al-Sabah that holding corrupt individuals accountable under the law has enhanced Iraq’s image and will contribute to bringing it closer to political and economic stability, and will open the door to international investments and partnerships, stressing that true success will only be achieved when the citizen, before the world, feels that the law is applied to everyone without discrimination or exceptions.
The spokesman added that if the government succeeds in turning these measures into a permanent and continuous approach, Iraq may regain the international standing it deserves after many years of challenges. He considered the recent measures, including opening corruption files, as a message that the state is ready to take serious and bolder steps, which is being followed with great interest by countries and international financial institutions.
Eidan pointed out that this trend improves the investment environment, explaining that investors view combating corruption as an indicator of the stability of the business environment and a decrease in the risks of bribery and illegal interventions, which is reflected in an increase in foreign investments.
International ranking improved
Eidan promised that strengthening economic and financial relations would be a gateway to the success of reforms and economic and financial stability, which would facilitate cooperation with international institutions and increase opportunities to obtain financing and investments on better terms, as well as raise Iraq’s international ranking and achieve sustainable improvement in governance and transparency indicators, thus improving the country’s international image, provided that these reforms continue and show their results.
Economic stability
On the same note, financial and economic researcher Imad Al-Muhammadawi considered combating corruption to be the gateway to economic stability in Iraq, explaining that corruption is an economic burden before it is a moral one.
Al-Muhammadi told Al-Sabah that corruption in Iraq is not measured by numbers alone, but by the burdens it places on the investment environment. He pointed out that when contracts and licenses are granted outside the framework of competence through incompetent intermediaries, they create a burden and a state of uncertainty, the price of which is paid by both the investor and the citizen.
Al-Muhammadi added that most specialized reports indicate that the cost of doing business in Iraq is higher than in other countries due to bribery and favoritism, stressing that this makes the investment environment an attractive arena for uncalculated risks.
Recovering stolen funds
The researcher pointed out that the international community views the stability of Iraq from a different angle than security, but rather through the state's ability to enforce the law equally, by recovering the looted funds from those who steal public money. This is a message of great impact to international companies that seek to enter the Iraqi market, as the former feel their way to the market by predicting the state's judicial decisions and thus whether or not to enter the market.
Al-Muhammadi promised that recovering the funds would be an opportunity to introduce the world to the image of the new Iraq, whose name has been associated for many years and in international reports with a decline in governance indicators. He stressed the need to work on changing and reformulating that stereotypical image by issuing judgments against all corrupt individuals without exception and recovering those funds, in order to alleviate the crisis of international confidence and change the country’s reputation.
He believed that continuing to work by increasing reform initiatives and finding a new building block that deserves international confidence in the file of opening investments, not just opening internal corruption files, but through international relations in a stage in which Iraq is regaining its regional role and diversifying its incomes, which were limited to selling oil and the files that accompany it.
Account for depositing stolen goods
It is worth noting that the government spokesman, Haider al-Aboudi, said earlier that the “Dawn Charge” anti-corruption campaign is ongoing, revealing an account into which the funds will be deposited.
Al-Aboudi said that the fight against corruption is ongoing and is based on a procedural methodology in which the federal authorities cooperate and integrate, adding that the government continues to implement its constitutional obligations in protecting public funds and enabling state institutions to perform their duties in enforcing the law.
He explained that the anti-corruption narrative is unlike its predecessors, noting that the Prime Minister, Ali al-Zaidi, directed the Ministry of Finance to create an account to deposit the recovered funds. link
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Tishwash: Iraqi oil is attracting Chinese refineries as demand for Iranian crude declines and floating storage rises.
Iraq has benefited from the shift of independent refineries in China towards purchasing crude oil not subject to sanctions, after they resorted in recent weeks to increasing their purchases of crude oil from Iraq, the UAE and Qatar, at a time when Iranian oil sales have slowed and the volume of floating stockpiles at sea has increased with the return of US sanctions.
Traders said that independent Chinese refineries in Shandong province purchased between 16 and 20.5 million barrels of Iraqi, Emirati, and Qatari crude oil, marking the largest purchase of non-sanctioned Middle Eastern oil since the start of the conflict. Shenghong Petrochemical also bought approximately 12 million barrels of Iraqi, Saudi, and Abu Dhabi crude.
Reuters added, based on data from Kpler, Vortexa and UANI, that increased supplies from Iraq and the Gulf states contributed to displacing demand for Iranian crude, especially after the resumption of exports through the Strait of Hormuz, as competing crudes were sold at discounts ranging between $5 and $8 per barrel compared to Brent crude, while discounts for Iranian oil remained at only $2 to $3, making it less attractive to buyers.
Conversely, the volume of Iranian oil stranded at sea increased after exports surged during the temporary truce, but sales slowed as buyers held back. Kpler data showed that approximately 34.5 million barrels of Iranian crude oil transited the Strait of Hormuz between June 14 and July 10, while Vortexa estimated loadings of around 30 million barrels between June 15 and July 6.
Kpler data also indicated that China’s imports of Iranian oil so far in July have reached about 556,000 barrels per day, the lowest level since January 2023, while traders expect Iranian sales to rebound next week if discounts on August and September shipments increase. link