Seeds of Wisdom RV and Economic Updates Friday Morning 3-28-25

Good Morning Dinar Recaps,

XRP NEWS: CAN RIPPLE SELL TO INSTITUTIONAL INVESTORS AS SEC DROPS CASE? LEGAL ISSUES EXPLAINED

The U.S. SEC has officially dropped its appeal in the ongoing legal case with Ripple, bringing an end to a four-year legal battle. However, the SEC has yet to confirm the latest developments. There’s been a lot of talk about what will happen to XRP once the SEC clears the legal issues. Some experts think that when the SEC removes the injunction, Ripple will be able to sell XRP to institutional investors without any problems. However, Marc Fagel, a former SEC lawyer, explained why that’s not exactly true.

What Fagel Says About XRP Sales

Fagel pointed out that even if the SEC clears the injunction, the court’s original ruling still stands. The court had previously ruled that Ripple’s sales of XRP to institutional investors were against the law. This means that selling XRP in the same way as before would still be illegal, regardless of the injunction.

He explained that the issue is not just about specific contracts or agreements, but about how Ripple sold XRP to institutional investors. The court found that the way these sales were made made XRP an unregistered security, meaning any future sales made in a similar way could still be illegal.

Room for Legal Flexibility

Despite the legal concerns, Fagel mentioned that not all sales to institutional investors would require registration. Some sales might be allowed under special exemptions. It all depends on the details of the transactions and whether they are similar to the ones that were previously found illegal.

However, Fagel also pointed out that the SEC has been less focused on regulating the crypto market recently. This means that Ripple might not face strict consequences for its future sales of XRP, even if they are similar to previous ones.

What’s Next for Ripple and XRP?

As for Ripple, Fagel said the company’s legal team will need to carefully consider any future sales. If they follow the same pattern as the past sales, they could face legal issues. But since the SEC is less involved in crypto regulation now, Ripple may be able to move forward with fewer legal concerns.

Will Judge Torres Clarify the Ruling?

Some people asked if Judge Torres would provide more clarity on the past XRP sales to institutional investors. Fagel believes she probably won’t. The judge has already made her decision, and Ripple is likely to request that she remove the injunction entirely. The attorney thinks there’s little chance that the judge will change her ruling, as she was previously reluctant to make it more specific.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

SOUTH CAROLINA DISMISSES ITS STAKING LAWSUIT AGAINST COINBASE, JOINING VERMONT

South Carolina has dismissed its lawsuit against Coinbase related to its staking services — joining Vermont in a move described by the firm as a victory for American consumers.

South Carolina has become the latest US state to dismiss its lawsuit against crypto exchange Coinbase over its staking services, which had accused the crypto exchange of offering unregistered securities.

The lawsuit was officially dismissed in a joint stipulation between the crypto exchange and the South Carolina Attorney General’s securities division on March 27.

“South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,” the firm’s chief legal officer, Paul Grewal, said in a March 27 X post.

“This is not just a victory for us, but for American consumers and we hope it's a sign of things to come in the few states left that restrict staking.”

South Carolina and Vermont were two of 10 US states that took legal action against Coinbase's staking services on June 6, 2023 — the same day that the federal securities regulator filed its lawsuit against the crypto exchange.

The Securities and Exchange Commission officially dismissed that lawsuit on Feb. 27, 2025.

The other eight US states that filed enforcement action similar to South Carolina were Alabama, California, Illinois, Kentucky, Maryland, New Jersey, Washington and Wisconsin.

Grewal said he hoped to see other states follow suit and that South Carolina residents lost an estimated $2 million in staking rewards as a result of the lawsuit.

“The 52 million Americans who own crypto deserve commonsense consumer protections and clear rules,” he said. “We applaud South Carolina for standing up for justice and hope the remaining states with bans on staking will take notice.”

South Carolina introduces Bitcoin reserve bill

Meanwhile, a state lawmaker has just introduced the “Strategic Digital Assets Reserve Act of South Carolina” on March 27, which could see the state treasurer allocate up to 10% of certain state funds to cryptocurrencies such as Bitcoin.

Unlike most US state crypto reserve bills, South Carolina’s House Bill 4256, introduced by Rep. Jordan Pace, mentioned Bitcoin on several occasions for the Strategic Digital Assets Reserve that the bill seeks to establish.

The bill allows South Carolina’s treasurer, currently Curtis Loftis, to establish a Bitcoin reserve that exceeds no more than 1 million Bitcoin — a high ceiling that the US federal government is also looking to reach or exceed with its recently established Strategic Bitcoin Reserve.

The treasurer would be able to add Bitcoin to South Carolina’s General Fund, the Budget Stabilization Reserve Fund any other investment fund that they manage.

While no mention of stablecoins, non-fungible tokens, Ether or any other crypto tokens was made, the House bill said the Strategic Digital Assets Reserve wouldn’t be limited to Bitcoin.

According to Bitcoin Law, 42 Bitcoin reserve bills have been introduced at the state level in 19 states, and 36 of those 42 bills remain live.

Earlier this month, US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, both of which will initially use cryptocurrency forfeited in government criminal cases.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

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“Tidbits From TNT” Friday Morning 3-28-2025

TNT:

Tishwash:  After salaries are paid, Erbil markets are crowded with shoppers before Eid al-Fitr (photos)

Erbil's markets are witnessing a brisk trade movement as Eid al-Fitr approaches. Demand for clothing, sweets, and gifts is on the rise, amid a noticeable recovery in sales, driven by several factors, most notably the start of salary distributions and commercial offers .

Ahmed Saeed, owner of a clothing store in Al-Qaysariyah Market, told Shafaq News Agency, "We are witnessing a greater turnout this year, especially after salaries were paid. Families come to buy Eid clothes, mainly for children, and there is a high demand for both traditional and modern clothing ."

As for Mohammed, a sweets shop owner, he confirms, “Demand for Klicha and oriental sweets has increased significantly. Every year, demand for sweets increases as Eid approaches, but this year there is more activity, especially since customers prefer to buy Klicha and pastries in large quantities .”

On a related note, some citizens believe that prices are relatively high. Umm Saifan, a housewife, told Shafaq News Agency, "Prices are slightly higher than last year, but we cannot ignore the children's joy of Eid. We are trying to take advantage of the offers and discounts to buy clothes for them, especially since salaries have been paid ."

For his part, Ali, a government employee, explained, "The disbursement of salaries has helped many shop more comfortably. Delays in some months of salaries have affected purchasing power, but now, with salaries being disbursed before Eid, things have become easier ."

A number of merchants confirm that "the last few days before Eid typically witness peak shopping, with some people preferring to buy their necessities at the last minute, after iftar  link

*************

Tishwash:  PM's Advisor: Iraq's Oil Exports to the US Increased by 110% in Two Years

The Prime Minister's Financial Advisor, Mazhar Mohammed Salih, confirmed that Iraq's oil exports to the United States have increased by more than 110% in two years.

Salih told the Iraqi News Agency (INA): "Economic cooperation between Iraq and the United States extends to many diverse investment, trade, and economic fields. Economic cooperation between Iraq and the United States has witnessed remarkable developments in recent years."

He noted that "the volume of trade between the two countries has more than doubled over the past two years, with Iraq's oil exports to the United States increasing by more than 110%, and Iraq's imports from the United States increasing significantly over the past two years, with the value of this trade ranging between $9 and $10 billion."

He explained that "Iraq's imports were primarily in automobiles, transportation equipment, and engineering and electrical equipment. However, the trade balance remained in Iraq's favor, with a difference of $5.7 billion, reflecting the continued superiority of Iraqi exports to the United States, particularly in the crude oil sector." He noted that "economic cooperation between Iraq and the United States is developing, with a focus on enhancing trade exchange and supporting joint investment activities, serving the economic interests of both countries."

Salih stated that "financial and economic cooperation is part of a positive joint dialogue between the two countries. Since the beginning of this year, many mutual understandings have been reached in the field of economic cooperation, which are consistent with supporting stability and economic reforms outlined in the government's program, particularly the development of an attractive investment cooperation environment for investors between the two friendly countries, within the country's general economic policy to achieve sustainable development goals."  link

**************

Tishwash:  CBL introduces the new LD 5 banknote

The CBL has introduced the new LD5 denomination into circulation (Photo: CBL).

The Central Bank of Libya (CBL) announced yesterday the issuance of a new 5 dinar banknote bearing the signature of the new Governor Naji Issa.

The CBL said the new denomination will go into circulation along with the currently circulating issuances, starting today, Thursday, 27 March.‎

The LD note introduced on 20 March
It will be recalled that the CBL had announced on 20 March the issuance of a new 20-dinar polymer banknote (second issue) into circulation alongside the currently circulating issue.‎

On 20 January, the CBL had announced the issuance of new banknotes in the 5-, 10- and 20-dinars denominations in the coming weeks and months.

The LD 10 denomination was issued on 26 January. All the new denominations bear the signature of the new CBL Governor, Naji Issa. link

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MilitiaMan & Crew-Iraqi Dinar Reality-Approved International Instructions-Oil flow Turkey-USA-Support Sudani talk

MilitiaMan & Crew-Iraqi Dinar Reality-Approved International Instructions-Oil flow Turkey-USA-Support Sudani talk

3-27-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=JNB5RW6r4qo

Iraq Economic News and Points to Ponder Thursday Afternoon 3-26-25

Mr. Al-Hakim Assures The US Chargé d'Affaires: Iraq Is Capable Of Confronting All Security Challenges.

Time: 2025/03/27 Reading: 660 times   {Political: Al Furat News} The head of the National State Forces Alliance, Mr. Ammar al-Hakim, discussed with the Chargé d'Affaires of the United States Embassy in Baghdad, Daniel Rubinstein, developments in the local and regional situation and affairs in the region.

During the meeting, according to a statement from his office, a copy of which was received by {Euphrates News}, Mr. Al-Hakim expressed "his concern over the renewed aggression of the Israeli entity on Gaza, and we renewed our call to strengthen security and peace through dialogue and the prevalence of logic, while avoiding wars and their dangerous repercussions."

He stressed that "Iraq has pioneering experience in combating terrorism and is capable of confronting all security challenges. We also emphasized the importance of strengthening bilateral relations between the two countries in a way that serves the interests of both parties and preserves Iraq's sovereignty and independent decision-making."

Mr. Al-Hakim also pointed to the promising opportunities Iraq possesses in all fields, and we called on American companies to invest in these opportunities to enhance the partnership between the two countries, support the Iraqi economy, and contribute to the exchange of expertise. We affirmed Iraq's keenness to develop its relations with the international community and its openness to it.  LINK

 Al-Sudani's Advisor: Iraq's Revenues Are Stable Despite Global Challenges

Money and Business  Economy News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, stated that global geopolitical fluctuations represent a complex factor that directly impacts energy markets, indicating that Iraq's public finances are hedged against price fluctuations in the oil market.

In an interview with the official newspaper, followed by Al-Eqtisad News, Saleh indicated that even the end of the Russian-Ukrainian war will not necessarily mean market stability. Rather, it will lead to what are called "peace economies," which focus on rebuilding damaged economies and increasing investment to compensate for lost opportunities.

He explained that "this phase will not lead to an economic recession, but rather to a recovery in global growth rates, which in turn will lead to increased demand for oil." He explained that "a 1% increase in global growth leads to a 0.5% increase in oil demand, which supports the stability of oil prices and reduces the downward trajectory of the oil asset cycle," expecting prices to return to "rise under the pressure of increased demand for energy."

Saleh added, "Even the United States, the world's leading crude oil producer, faces significant losses if oil prices fall below $70 per barrel, due to the high cost of shale oil production. As for Russia, the world's second-largest oil producer, it is not in its interest to sell its oil at low prices or at discounts that exceed international agreements within OPEC, especially if the Ukrainian war ends." Regarding Iraq's financial situation,

Saleh affirmed that "public finances are resilient to oil market fluctuations," noting that "the first quarter of 2025 is about to end without any financial disruptions, as fiscal policy continues to operate with high discipline to ensure the implementation of budget objectives, including securing salaries, pensions, and social welfare, in addition to continuing to implement service projects in accordance with the government program."

He pointed out that "the three-year federal budget law, issued pursuant to Law No. 13 of 2023, priced oil at approximately $70 per barrel, ensuring stable public revenues despite global economic challenges."   https://economy-news.net/content.php?id=53847

Oil Prices Stabilize After A Huge Drop In US Inventories

Energy   Economy News – Baghdad   Oil prices held steady on Thursday after U.S. crude inventories recorded their largest decline since December 2024, suggesting a potential supply shortage in the near term.

Brent crude was trading near $74 a barrel, after closing up 1.1% on Wednesday, while West Texas Intermediate fell below $70 a barrel.

US crude inventories fell by 3.34 million barrels last week, reaching their lowest level in a month, and gasoline inventories also declined, according to government data.

Oil prices have been rising since early March, as sanctions and tariffs imposed by US President Donald Trump have increased the likelihood of supply disruptions from producers such as Iran and Venezuela.

However, major oil trading companies, including Trafigura Group and Gunvor, remain pessimistic about crude oil prices for the remainder of the year, given the high supply, particularly from outside the OPEC+ alliance.

The alliance is also scheduled to begin restoring some of its shutdown production next month, the first in a series of planned increases.  This has prompted traders to buy bullish oil options to hedge against higher prices.   https://economy-news.net/content.php?id=53844

Iraq's Oil Exports Exceed 95 Million Barrels In February

Energy   Economy News – Baghdad  The Ministry of Oil announced today, Thursday, the total oil exports achieved for the month of February, which exceeded 95 million barrels of crude oil, according to statistics issued by the State Oil Marketing Organization (SOMO).

The Ministry stated in a statement received by “Al-Eqtisad News” that the total exports of crude oil amounted to (95) million, (148) thousand, and (167) barrels.

The statistics also indicated that the total quantities of crude oil exported for the month of February from the oil fields in central and southern Iraq amounted to (94) million and (375) thousand and (12) barrels.

The Ministry said, based on SOMO, that exports to Jordan amounted to (419) thousand and (846) barrels, and the quantities exported from the Qayyarah field amounted to (353) thousand and (309) barrels.

Thus, Iraq's oil exports declined by approximately 8 million barrels of crude oil in February, compared to January, when exports exceeded 103 million barrels of oil, according to SOMO statistics https://economy-news.net/content.php?id=53853

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Thursday Evening 3-27-25

Good Evening Dinar Recaps,

SENATE BANKING COMMITTEE DELAYS VOTE ON SEC CHAIR NOMINEE

The Senate Banking Committee has reportedly delayed its vote on the nomination of Paul Atkins as the next chair of the U.S. Securities and Exchange Commission

Journalist and host of Crypto in America podcast Eleanor Terrett, shared this development via X. The former FOX Business reporter cited a Senate aide as the source of the news.  According to the aide, the committee will “not vote today on Atkins or the other nominees, as is typical practice.”

Instead, nominees will be required to submit written responses to committee questions ahead of a markup vote. A date for that vote has not yet been set.

Atkins’ nomination and the SEC’s shifting stance

Atkins, President Donald Trump’s pick to replace former SEC chair Gary Gensler, faced the Senate’s banking committee on March 27.

Lawmakers also held a confirmation hearing for Jonathan Gould, nominated to lead the Office of the Comptroller of the Currency.

Gensler’s time at the helm of the top securities watchdog in the US is mostly seen as negative and anti-crypto.

His regulation by enforcement action approach that saw SEC sue multiple crypto companies and launched investigations against several is one of the things the commission is looking to drop completely. Indeed, several cryptocurrencies rallied in the wake of the ex-SEC chair’s resignation.

Despite Gensler’s exit, regulation remains a top topic in crypto. Recent moves to withdraw lawsuits and end investigations suggests this is the case.

Facing questions from the banking committee, Atkins says the SEC under his leadership will be keen on regulatory clarity.

“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” he noted in a prepared testimony.

While the report is that the Senate is delaying a vote on his nomination, the anticipation around the crypto ecosystem is that his confirmation is just a matter of ‘when, not if’.

Until then, interim chair Mark Uyeda continues to point the SEC in what industry players say is the right direction

@ Newshounds News™
Source:  Crypto News

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JPMORGAN SEES YIELD-BEARING STABLECOINS GROWING FROM 6% TO 50% OF MARKET SHARE

▪️JPMorgan analysts forecast that yield-bearing stablecoins could rise from the current 6% to as much as 50% of the stablecoin market cap in the future.

▪️Yield-bearing stablecoins are attracting investors similarly to traditional money market funds, particularly in today’s high-interest-rate environment, the analysts said.

Yield-bearing stablecoins, including tokenized Treasurys, which offer interest returns similar to traditional financial products, could experience massive growth ahead, according to JPMorgan analysts.

Yield-bearing stablecoins currently make up just 6% of the total stablecoin market cap but could expand significantly, potentially capturing up to 50% of the market unless regulatory changes intervene, JPMorgan analysts led by managing director Nikolaos Panigirtzoglou wrote in a report released Wednesday.

The top five yield-bearing stablecoins — Ethena's USDe, Sky Dollar's USDS, BlackRock's BUIDL, Usual Protocol's USD0 and Ondo Finance's USDY— have seen rapid growth since the U.S. election in November, rising from around $4 billion to over $13 billion in combined market cap, Panigirtzoglou told The Block.

According to analysts, this growth is expected to continue. They added that the U.S. Securities and Exchange Commission's recent approval of Figure Markets' application for a yield-bearing stablecoin, YLDS, which is registered as a security, provides further momentum to this segment.

Traditional stablecoins, such as Tether's USDT and Circle's USDC, do not share reserve yields with their users because doing so would classify these assets as securities, according to the analysts. 

Such a classification would also impose additional compliance requirements, hindering their current seamless use as collateral within the crypto ecosystem, they said.

Why yield-bearing stablecoins are on the rise

The JPMorgan analysts identified several factors driving the rapid growth of yield-bearing stablecoins.

First, investors prefer these assets because they offer interest without requiring holders to engage in risky trading or lending activities or give up custody of their assets.

Second, major crypto trading platforms such as Deribit and FalconX now accept tokenized Treasurys as collateral, enabling traders to earn yield on posted collateral.

Additionally, crypto investors are increasingly turning to tokenized Treasurys in decentralized finance (DeFi) to obtain higher yields, as typical DeFi yields have significantly decreased from their peak levels of 2022. Projects like Frax Finance are also adopting tokenized Treasurys as underlying assets, further fueling this growth.

Despite this positive outlook, the JPMorgan analysts noted barriers. Yield-bearing stablecoins are classified as securities, subjecting them to regulatory restrictions that limit their adoption, especially among retail investors. Moreover, traditional non-yield-bearing stablecoins continue to hold a notable liquidity advantage.

With a combined market cap of around $220 billion across multiple blockchains and centralized exchanges, traditional stablecoins offer efficient, fast and low-cost transactions, even at large volumes. In contrast, yield-bearing stablecoins are newer, smaller and comparatively less liquid.

However, "This liquidity disadvantage could potentially be lessened over time as yield-bearing stablecoins gain further traction in the future in crypto derivative trading as source of collateral, in DAO treasuries, liquidity pools, and idle cash with crypto venture funds," according to the analysts.

As a result, over time, yield-bearing stablecoins could attract much of the idle cash currently sitting in traditional stablecoins, the analysts said. While the exact amount of this idle cash is difficult to estimate, it's unlikely to represent the majority of the stablecoin market, according to the analysts.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 3-27-25

Good Afternoon Dinar Recaps,

U.S. CONGRESS ADVANCES STABLECOIN REGULATION WITH THE INTRODUCTION OF THE STABLE ACT

Lawmakers introduce a new framework that redefines stablecoin oversight by blending traditional financial controls with digital asset practices for clearer, accountable operations in a fast-evolving market.

▪️Establishes structured guidelines for digital token issuers that stress transparency and regular record-keeping.

▪️Emphasizes clear operational rules to promote accountability without stifling innovation.

▪️Paves the way for coordinated oversight, integrating crypto with conventional finance.

On March 26, 2025, U.S. lawmakers introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act to advance stablecoin regulation and improve transparency for dollar-backed digital tokens.

The proposal outlines how dollar-backed stablecoins should be issued, with requirements focused on transparency and consumer protection.

Congress Pushes Stablecoin Regulation Forward with the STABLE Act

Introduced by Representatives Bryan Steil and French Hill, the STABLE Act forms part of a broader push to build a consistent regulatory structure for cryptocurrency markets.

Stablecoin issuers would need to follow financial rules and maintain clear records under the STABLE Act.

Representative Hill said the bill helps clarify financial rules and protects both consumers and the financial system.

After gaining bipartisan Senate support, the bill passed through the Banking Committee and is now under review on the Senate floor.

Representative Tom Emmer, who has long supported crypto legislation, noted that although the House and Senate bills differ in some areas, lawmakers expect to reconcile those versions as the process moves ahead.

While the Senate continues deliberations, the House is refining its version of the bill.

To move the legislation forward, the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing titled “A Golden Age of Digital Assets: Charting a Path Forward.”

This discussion focused on strengthening the bill’s foundation before a full House vote.

During the White House crypto summit on March 7, President Donald Trump encouraged lawmakers to pass stablecoin legislation before the August 2025 recess.

Still, that timeline may prove difficult due to divisions between crypto industry leaders and banks over key aspects of the bill’s language.

In parallel, Emmer has reintroduced the Securities Clarity Act, a separate measure that would define how crypto assets are treated under existing securities law.

Co-sponsored by Representative Darren Soto, the bill reflects ongoing efforts to give the digital asset industry regulatory certainty.

STABLE Act and GENIUS Act Propose Different Paths for Stablecoin Regulation

The U.S. Senate Banking Committee recently advanced another stablecoin bill: the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

Unlike the STABLE Act, which outlines broad federal rules for stablecoin issuers, the GENIUS Act centers on defining payment stablecoins as digital tokens pegged to a fixed value and used for transactions.

This approach would divide oversight between federal and state regulators, depending on the size and scope of the issuer.

Under the GENIUS Act, issuers managing more than $10 billion in stablecoins would fall under federal regulation. Smaller players could remain under state oversight unless they apply for a federal waiver.

The growing debate over stablecoin regulation highlights the need for consistent rules across federal and state agencies.

Gold-Backed Tokens Add Complexity to Stablecoin Regulation

As stablecoin regulation evolves, some industry figures suggest gold-backed stablecoins could see broader global use than those tied to the U.S. dollar.

Bitcoin advocate Max Keiser has argued that countries with strained ties to the U.S. often view gold as more stable than the dollar.

A recent example is Tether’s Alloy (aUSD₮), launched in June 2024. This stablecoin is backed by Tether Gold (XAU₮) instead of fiat reserves.

Some believe gold-backed stablecoins may gain traction in countries with less trust in the U.S. dollar.

From Experiment to Infrastructure

What began as a workaround to traditional banking is now being treated as financial infrastructure.

The STABLE Act’s requirements signal that the era of informal issuance is closing, while the GENIUS Act offers a looser framework for limited use.

Either path will impose real consequences on stablecoin providers.

For users and institutions, it’s time to start treating stablecoins not as novelties, but as instruments subject to the same scrutiny as any other financial product.

@ Newshounds News™
Source:  CryptoNews

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TRUMP HITS FOREIGN CARS WITH 25% TARIFF – INDUSTRY BRACES FOR IMPACT

▪️President Trump announced a 25% tariff on non-U.S. manufactured cars, aiming to boost domestic production.

▪️The tariffs, effective April 3rd, exclude U.S.-made cars and USMCA-compliant parts, but face international criticism and market volatility concerns.

▪️This move is part of Trump's broader trade strategy, including "reciprocal" taxes, and is expected to impact car prices.

According to a latest Bloomberg report, President Donald Trump has announced a 25% tariff on all cars made outside the United States, a move he says will strengthen American manufacturing and bring jobs back home. The new policy, set to take effect on April 3, is one of the most aggressive trade measures targeting the auto industry in years.

Cars built in the U.S. will be exempt, along with certain auto parts that comply with the U.S.-Mexico-Canada Agreement (USMCA). But for foreign automakers and consumers, this decision could mean higher prices, shifting supply chains, and major industry shake-ups.

“What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the United States. This will be permanent,” Trump said from the Oval Office. “We start off with a 2.5 per cent base, which is what we’re at, and go to 25 per cent.”

So, will this plan jumpstart American manufacturing, or will it drive up costs and disrupt the market? Here’s a closer look at what the new tariff means for businesses, consumers, and the economy.

A Jump in Import Tariffs

Currently, imported cars face a 2.5% tariff. Under the new rule, that figure will jump to 25%. The tariff will apply to fully assembled vehicles as well as key components like engines, transmissions, powertrain parts, and electrical systems. However, parts produced in the U.S. will remain exempt, even if the final vehicle is assembled elsewhere. The list of affected items could expand over time.

Economic Strategy or Market Disruption?

Trump believes the tariff will reduce reliance on foreign supply chains, particularly those involving Canada and Mexico, and will help lower U.S. debt. He called the current trade system “ridiculous” and argued that this new approach will simplify trade while benefiting American workers.

The decision has raised concerns about potential market instability. Trump also clarified that Tesla CEO Elon Musk was not involved in shaping the policy, despite earlier speculation that such tariffs could be neutral or even beneficial for Tesla.

Criticism from Global Leaders

The announcement has drawn criticism from international leaders. European Commission President Ursula von der Leyen called the move “bad for businesses, worse for consumers.” Canada’s Prime Minister Mark Carney also voiced strong opposition, vowing to protect Canadian workers and industries.

The stock market reacted quickly, with shares of U.S.-listed automakers dropping amid concerns that the tariffs could disrupt the global auto industry. Experts warn that higher costs for imported parts could lead to more expensive cars, fewer options for consumers, and job losses in manufacturing.

Could This Policy Drive Up Inflation?

Economists warn that the new tariffs could contribute to inflation. Trump was re-elected last year partly because voters believed he could bring down prices. If car prices rise significantly, it could create political challenges for his administration.

This tariff is part of Trump’s broader trade agenda. On April 2, a separate “reciprocal tax” policy will take effect, matching the tariffs and sales taxes that other countries impose on American goods. The administration says this is part of a long-term strategy to rebalance global trade in favor of the United States.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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Iraq Economic News and Points to Ponder Thursday AM 3-27-25

Financial expert: Iraq's budget deficit is due to bond issuance
 
Economy     Iraq     breaking     Budget     disability     Financial bonds
2025-03-24 23:01  Shafaq News/ Financial expert and former director general of the Central Bank of Iraq, Mahmoud Dagher, attributed the country's budget deficit on Tuesday to the Iraqi Ministry of Finance issuing large bonds. Dagher told Shafaq News Agency,
 
"The budget deficit is behind the Ministry of Finance's efforts to issue bonds worth 3 trillion dinars to obtain cash liquidity to cover its expenses."

He added, "Given the difficulty of marketing bonds to the public, interest rates on bonds were raised and  they were marketed through banks this time,
 
given the latter's liquidity and preference for risk-free, profitable securities such as government bonds."
 
Dagher expects this move to attract banks, given that the interest rates offered are close to the returns generated from other activities.
 
The Iraqi Ministry of Finance is seeking to issue national bonds worth 3 trillion dinars (about $2.3 billion) allocated exclusively to local banks, 

according to a letter issued by the Central Bank to banks. She noted that
 
the bonds will be divided into two tranches: the
 
first,
     worth half a million dinars per bond,
     for a two-year term, with an
     8% annual interest rate, and the
 
second,
     worth one million dinars per bond,
     for a four-year term, with an
     annual interest rate of 10%.
 
The sale is scheduled to take place from March 20 to 29.    
  
https://www.shafaq.com/ar/اقتصـاد/خبير-مالي-العجز-بموازنة-العراق-بسبب-صدار-السندات    

Insurance and Credits
 
Economic 03/26/2025  Yasser Al-Mutawali  Article 45 of the current budget law stipulates that open documentary credits must be insured within Iraq. This procedure means that
 
when the state or individuals import from abroad,
the imports must be insured by companies in the country within Iraq.

This decision reflects the government's interest in activating and stimulating the insurance sector, given its
 
     significant role in maximizing financial resources, on the one hand, and
     in bearing risks in a balanced manner across economic sectors as a whole, by distributing them fairly.
 
Continuing our previous article titled "Insurance and Risk,"
 
it can be said that the Central Bank of Iraq has
 
     circulated this order to banks and
     called on them to implement it,
     indicating its support for this important decision.
 
However, it is noticeable that the
response from banks has been very weak, so
 
coordination between insurance companies and banks is required to ensure the full success of this decision.
 
The current government, in its efforts to support the insurance sector, is attempting to revitalize this vital and important financial sector.
 
These measures may be a response to what we raised here in Al Sabah newspaper, given the difficulties this essential sector is facing.It is clear here that
 
there is unfortunately a lack of insurance culture,
for which the insurance companies themselves and the economic media bear responsibility.
 
It is worth emphasizing here that , in

 this measure
     will contribute to maximizing the budget's financial resources addition to

     preserving the hard currency that goes to international insurance companies in the insurance process.
 
The benefit of the domestic insurance decision will therefore be to stimulate important economic sectors, such as insurance companies and banks, while providing many job opportunities in this field,
 
thus alleviating the widespread unemployment among young people.

Here, I believe that a partnership should be created between reputable Iraqi insurance companies and international companies, with the aim of benefiting from each other's expertise, 

similar to the partnership between our banks and correspondent banks, to ensure profitability from the outset.
 
We ask: What role does the Iraqi insurance company play in these changes?
 
It used to play a major role in insuring imports and exports and investing funds domestically and internationally.
 
In a related context, the government's support for this sector was not limited to requiring documentary credit insurance, but
 
this interest was also reflected in the new health insurance law, which encouraged insurance companies to issue insurance policies for expatriate and resident workers.
 
Thus, insurance companies will flourish again, but insurance companies are required to work on developing their workforce, given the expertise required by these insurance products, especially in the era of digital transformation.
 
This is a shared responsibility in cooperation and coordination between the Insurance Bureau and government insurance companies.  Both private and public.  
  
https://alsabaah.iq/112251-.html    

Iraqi oil refinery  energy  Economy News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq's oil exports to the United States have increased by more than 110% over two years.

"Economic cooperation between Iraq and the United States extends to diverse investment, trade, and economic areas. Economic cooperation between Iraq and the United States has witnessed remarkable developments in recent years," Salih said in a statement reported by the official news agency and seen by Al-Eqtisad News.

He pointed out that "the volume of trade between the two countries has more than doubled over the past two years, as Iraq's oil exports to the United States increased by more than 110%, and Iraq's imports from the United States increased significantly over the past two years, with the value of that trade ranging between $9 and $10 billion."

He explained that "Iraq's imports were primarily in cars, transportation equipment, engineering, and electrical equipment, but the trade balance remained in Iraq's favor, with a difference of $5.7 billion, reflecting the continued superiority of Iraqi exports to the United States, especially in the crude oil sector."

He noted that "economic cooperation between Iraq and the United States is developing, with a focus on enhancing trade exchange and supporting joint investment activities, serving the economic interests of both countries."

Saleh stated that "financial and economic cooperation is part of a positive, shared dialogue between the two countries. Since the beginning of this year, many mutual understandings have been reached in the field of economic cooperation, which are consistent with supporting stability and economic reforms outlined in the government's program, particularly the development of an attractive investment cooperation environment for investors between the two friendly countries, within the framework of the country's general economic policy to achieve sustainable development goals."

https://economy-news.net/content.php?id=53840

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Thursday Morning 3-27-25

Good Morning Dinar Recaps,

PAUL ATKINS SEC CONFIRMATION HEARING BEGINS: IS THIS GOOD NEWS FOR CRYPTO?

▪️Former SEC Commissioner Paul Atkins, a Trump nominee, is expected to bring a more crypto-friendly regulatory approach.

▪️Atkins' confirmation faces scrutiny due to his past advisory roles, financial ties to crypto, and potential conflicts of interest.

▪️The crypto industry anticipates Atkins' potential leadership as a shift towards clearer regulations.

The crypto market finally has a leader at the SEC who supports digital assets. After years of strict regulations, uncertainty, and legal battles, there’s a chance for real change. Paul Atkins, a former SEC commissioner and Trump’s pick for SEC Chair, is expected to take a more crypto-friendly approach – if confirmed. Unlike his predecessor Gary Gensler, who cracked down hard on the industry, Atkins wants to introduce clear and predictable rules. He believes confusing regulations have slowed innovation and pushed businesses overseas.

His confirmation hearing today could set the stage for crypto’s next big chapter.

Senate Hearing Begins Today

Atkins will face the Senate Banking Committee today for his confirmation hearing, where he plans to push for a balanced regulatory framework. He has criticized the SEC’s past policies, arguing that complicated and politically driven rules have hurt businesses and investors. His goal is to create common-sense regulations that encourage growth while ensuring proper oversight.

Industry Support vs. Political Opposition

The crypto industry is optimistic about Atkins’ nomination, seeing it as a chance to move away from the SEC’s aggressive enforcement, which has driven innovation overseas.

But not everyone is on board. Senator Elizabeth Warren and other critics have raised concerns about his regulatory past. Warren has questioned his advisory role with FTX, his ties to major financial firms, and his decisions during the 2008 financial crisis. She recently sent him a 34-page letter demanding answers before his hearing.

Questions over Atkins’ crypto investments

Atkins’ financial records show he holds up to $5 million in a crypto investment fund and $1 million in equity across two crypto firms. His and his wife’s total assets exceed $328 million, mostly from his wife’s family wealth. These investments have raised concerns over potential conflicts of interest, which he is expected to address during the confirmation process.

What Happens Next?

Until Atkins is officially confirmed, Mark Uyeda will serve as interim SEC Chair following Gary Gensler’s resignation. The Senate will decide when to hold the final vote on Atkins. If he is approved, it could mean major changes in how the SEC regulates crypto.

While the crypto market welcomes a shift in policy, some worry that too much freedom could lead to illegal activities and fraud. Trump’s open support for meme coins like TRUMP, which remain unregulated, has added to concerns.

Over the last few months, some of Trump’s policies have backfired, and the crypto market is still recovering, far from its peak of $109K. Whether Atkins’ leadership will bring stability or new challenges remains to be seen.

Atkins might be the SEC’s new face, but in crypto, the real question is always the same – will the rules change the game or just the players?

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

US SENATE CLEARS RESOLUTION TO KILL IRS’S CONTROVERSIAL DEFI BROKER RULE

A rule to scrap a U.S. Internal Revenue Service rule targeting decentralized finance platforms has cleared the Senate, setting the stage for the president’s expected sign-off.

On March 26, the Senate voted 70-28 in favour of repealing the controversial DeFi broker rule, which sought to expand tax reporting requirements for businesses in the sector.

Earlier this month, the House of Representatives passed the resolution with bipartisan support, with Republican Representative Mike Carey, a vocal critic of the bill, calling it a “massive government overreach” that would compromise the privacy of American nationals and hinder growth in the industry.

Now, the resolution heads to President Donald Trump’s desk for final approval. David Sacks, the White House’s crypto and AI adviser, has previously confirmed the administration’s support, and Trump is expected to sign it into law.

The rules, initially proposed by the IRS and the United States Treasury Department in August and finalised in December 2024, would require DeFi platforms to report user transactions—specifically, gross proceeds from crypto sales—to the IRS, similar to traditional brokers.

This would include collecting and filing personal data of users involved in these transactions, which critics say goes against the nature of decentralisation and puts unnecessary pressure on platforms that often don’t have central operators.

Supporters of the repeal argued that the rule was unworkable in practice and could drive innovation out of the U.S.

The Blockchain Association, a digital asset advocacy group, along with the Texas Blockchain Council, sued the IRS last year.

Marisa Coppel, the association’s Head of Legal, criticized regulators in a joint statement last year, claiming that the IRS and Treasury had “gone beyond their statutory authority in expanding the definition of ‘broker.”

“Not only is this an infringement on the privacy rights of individuals using decentralized technology, it would push this entire, burgeoning technology offshore,” he added.

@ Newshounds News™
Source:  CryptoNews

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 3-27-2025

TNT:

Tishwash:  Sending budget tables to the Cabinet

 The government issued new assurances on Wednesday regarding the country's financial situation. Deputy Prime Minister and Minister of Planning, Mohammed Tamim, announced the completion of the 2025 budget schedules and their submission to the Council of Ministers. Meanwhile, the Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed that Iraq's public finances are resilient to oil price fluctuations. 

The Ministry of Finance, for its part, ensured financial stability by disbursing salaries on time, as well as disbursing pensioners' salaries before Eid al-Fitr. In a meeting with the Parliamentary Finance Committee, the Minister of Planning confirmed that the schedules include funding for ongoing projects without adding new ones.

According to information published by "Al-Sabah", the (2025) budget is expected to reach about (200) trillion dinars with an estimated deficit of (64) trillion dinars. For his part, the financial advisor, Mazhar Muhammad Salih, explained that Iraq is hedging against oil price fluctuations, and that the first quarter of (2025) passed without financial turmoil, while ensuring the stability of salaries and social care, in addition to implementing service projects.

Saleh pointed out that "the price of a barrel of oil in the Federal Budget Law for the three years, issued pursuant to Law No. (13) of (2023), was set at about (70) dollars, which ensures the stability of public revenues despite global economic challenges."  link

Tishwash:  Employees withdraw 8 trillion dinars from banks in two hours.. The Ministry of Finance seeks a solution.

Crisis of confidence despite the electronic system

Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, called for stopping the provision of subsidized dollars at an exchange rate of 1,320 dinars for non-essential luxury imports, and instead providing them for the import of necessities such as production lines and agricultural equipment, to reduce the volume of imports later.

 He pointed out that many private banks were not established according to the needs of economic sectors and that they profit from transfer operations despite being inactive due to their inability to deal with foreign correspondent banks. He also confirmed that the government deposits about 8 trillion dinars monthly as salaries for employees and retirees, but they are withdrawn within only two hours, calling for the matter to be addressed.

oeen Al-Kadhimi, in an interview with journalist Saadoun Mohsen Damd, followed by 964 Network :

The banking system is linked to the Central Bank, the body responsible for regulating banking operations. Numerous workshops have been held recently to develop the banking system. However, there are external factors that influence banks attempting to link up with foreign banks, which also impact the development process.

From our perspective as a parliamentary committee, we believe the Iraqi banking system is still in its early stages of adapting to global regulations. The Central Bank and the Ministry of Finance are required to support the work of banks so they can fulfill their role beyond limited tasks, such as supporting the agricultural and industrial sectors, and other diverse economic sectors.

Some banks are trying to profit solely from dollar transfers, without contributing to other developmental aspects. One of our most important observations is the increasing number of banks being established without feasibility studies.

This is despite the fact that they are practically at a standstill because most of them have been unable to link up with international banks to conduct financial transfers, thus preventing them from accessing the currency window.

The Central Bank sometimes justifies some of the violations of its instructions by private banks. It must then address the missing relationship between the public and the banks. Some citizens lost their money after certain banks declared bankruptcy, and the Central Bank must also address this issue.

Improving banking performance is key, and we have approached the Central Bank about addressing the issue of depositing funds and the difficulty depositors face in withdrawing them later, while improving interest rates to ensure depositors feel valued. Most importantly, we are increasing automation, moving away from cash transactions.

The internet is no obstacle to the electronic transformation of financial transactions. Banks must improve their digital applications and technologies to benefit from the country's internet services and quality. Employee and retiree salaries, which amount to approximately 8 trillion dinars, are now paid electronically, but they are withdrawn within two hours, immediately emptying all banks. This must be addressed.

The Ministry of Finance's monthly priority is to convert its dollar balances into dinars to boost remittances and foreign imports, which are often for luxury goods, as traders benefit from the exchange rate difference. This must stop, and subsidized dollars must be allocated to essential needs, such as importing production lines, to reduce imports later.  link

***************

Tishwash: Iraq Implements Global Transit System TIR from April

Iraq will implement the global transit system TIR from 1 April 2025, marking a significant step in enhancing logistics and international trade.

According to state-run Iraqi News Agency (INA), the Border Ports Commission announced that the system will streamline cross-border transport, strengthening Iraq's position as a key trade hub in the Middle East.

The TIR system is expected to play a crucial role in the Development Road project, linking southern and northern Iraq while providing an efficient trade corridor connecting Asia, the Gulf Cooperation Council (GCC), Turkey, and Europe.

Logistics firms are prepared to launch TIR operations from locations such as Mersin, Turkey, to Gulf countries via Umm Qasr Port. Initial trials indicate that the journey could be completed in under a week-compared to 14 days via the Red Sea or 26 days if ships reroute around Africa.

Transport Minister Razzaq Muhibis Al-Saadawi highlighted that TIR implementation, supported by Prime Minister Mohammed Shia Al-Sudani and facilitated by the International Road Transport Union (IRU), will reduce transport times by 80% and costs by 38%, offering substantial economic benefits and job creation. Over the past two years, Iraq has developed its transport infrastructure to maximise TIR's impact on trade and the national economy.

IRU Secretary-General Umberto de Pretto welcomed the initiative, stating that TIR has facilitated secure trade for nearly eight decades. He anticipates that Iraq's integration into the system will enhance regional economic connectivity and streamline freight movement. The system's electronic pre-declaration (TIR-EPD) will integrate with Iraq's Uruk platform, enabling cargo monitoring via GPS and enhancing security through regular checkpoints.

TIR, governed by a United Nations convention and managed by IRU, is designed to ensure smooth, cost-effective, and secure international trade.

In 2023, Iraq became the 78th country to accede to the United Nations TIR Convention. link

Mot: Yeppers! - becoming More Seasoned.. Gives Sooo Much!!!

Mot: If!! -- You Have the Power to ~~

Worst Crash Since Great Depression will Force Monetary Reset

Worst Crash Since Great Depression will Force Monetary Reset

Commodity Culture:  3-27-2025

In a recent episode of “Commodity Culture” with Jesse Day, market strategist Henrik Zeberg painted a stark, almost paradoxical, picture of the future. While many are bracing for an imminent market downturn, Zeberg believes the bears are premature.

 He predicts a significant market rally, culminating in a dramatic blow-off top, before a recession and market crash eviscerates asset values and ultimately necessitates a monetary reset based on sound money, specifically gold.

Zeberg’s forecast hinges on the idea that the current market landscape, despite its apparent fragility, still holds the potential for a final, exuberantly irrational surge.

He argued that underlying market forces are not yet aligned for a sustained bear market. Instead, he envisions a dramatic final rally, driven by factors like lingering liquidity and the herd mentality of investors eager to chase returns. This “blow-off top,” as he describes it, will be the final act of this current market cycle, and its peak will be the precipice of significant economic pain.

Following this artificial high, Zeberg foresees a harsh and unavoidable correction. This won’t be a simple dip; he predicts a profound recession, potentially even a depression, where virtually all asset classes will suffer significant losses. He anticipates a crash that will wipe out substantial wealth and shake the foundations of the global economy.

The silver lining, according to Zeberg, lies in the ashes of this economic devastation. He believes that only when faced with the utter failure of current monetary policies will global powers be forced to consider a radical shift.

In this scenario, he sees a return to sound money principles, most likely anchored by gold. This wouldn’t be a matter of choice, but rather a necessary consequence of the collapse of the existing system.

Zeberg’s vision is a compelling, albeit unsettling, one. He suggests that riding the coming wave requires vigilance and a deep understanding of market cycles. While predicting a significant market rally, he also urges caution, emphasizing that the ultimate goal should be preserving capital and preparing for the inevitable downturn.

In his view, the short-term gains should be viewed as a prelude to a long and challenging period, ultimately leading to a fundamental shift in the global monetary system, a shift that favors the stability and security of gold.

Whether you agree with Zeberg’s specific timeline or not, his conversation with Jesse Day on “Commodity Culture” provides a thought-provoking and timely perspective on the potential trajectory of the markets and the future of money itself.

It underscores the importance of understanding macro trends and preparing for a range of potential outcomes in an increasingly uncertain economic landscape.

https://youtu.be/zmTjmc1dNk0

Iraq Economic News and Points to Ponder Wednesday Afternoon 3-26-25

Al-Nusairi: 2025 Indicators: A Strong Economy, A Recovering Dinar, And Developing Banks

Banks   Economy News – Baghdad   Economic and banking advisor Samir Al-Nusairi confirmed that his predictions, made in previous articles and statements, that our economic indicators in 2025 herald a strong and robust economy based on the availability of foreign currency reserves exceeding $108 billion and 163 tons of gold, sufficient to cover imports for 18 months.

Al-Nusairi said in an interview with Al-Eqtisad News that the local currency issued amounted to approximately 100 trillion dinars, and our dinar is recovering and gradually returning towards an exchange rate against the US dollar towards the equilibrium price targeted by the Central Bank.

Our banks are developing and proceeding at a steady pace in accordance with the Central Bank’s strategy for reform, development, digital transformation and compliance with international standards.

The number of Iraqi banks that have banking relations and accounts in solid international correspondent banks and deal with them directly in foreign transfers has reached approximately 20 banks and deal in multiple foreign currencies after leaving the electronic platform at the end of 2024.

He explained that the Central Bank is making great efforts to qualify, develop and assist other banks to join the twenty banks mentioned above, pointing out that it is closely monitoring the reality of monetary policy applications and the Central Bank’s procedures, closely monitoring international economic variables and their impact on the Iraqi economy and complying with international standards that allow Iraq to be regular in the global banking system and controlling the movement and safety of foreign currency trading.

The banks’ commitment to implementing the new foreign transfer instructions and addressing obstacles as soon as possible has refuted the extremist and pessimistic views that say the exchange rate crisis will continue and our situation will be like that of Lebanon, Iran, Syria and Turkey when the dollar devoured the local currencies of these countries.

He explained that through our precise knowledge of the Central Bank's monetary policy applications, its coverage of the entire demand for the US dollar in the trading market and through its various official outlets, and its control over the distribution of cash dollars according to a new method that the US Treasury praised and considered a globally advanced method for distributing the US dollar, and this is what I confirmed in my previous articles, that the dinar will recover and the crisis is temporary despite all the external and internal reasons.

At the end of his speech on the Central Bank, Al-Nusairi hoped that the next phase would be an evaluation and analysis phase of the achievements made in 2023 and 2024, and a re-evaluation of operating banks and licensed and unlicensed exchange offices, reclassifying them and developing their work in all fields in 2025.

He also hoped that stability would be maintained in the financial and monetary system and that important steps would be taken to stimulate and enable the banking sector to contribute to investment and development, as stated in paragraph 7 of axis twelve in the government program for reforming the financial and banking sector, because banking reform is the beginning of comprehensive economic reform.   https://economy-news.net/content.php?id=53806

The Ministry Of Planning Announces The Completion Of The 2025 Budget Schedules And Their Submission To The Council Of Ministers

Money and Business  Economy News – Baghdad  Minister of Planning Mohammed Tamim announced on Wednesday the completion of the 2025 budget tables and their submission to the Council of Ministers.

The office of the head of the parliamentary finance committee, Atwan Al-Atwani, stated in a statement seen by Al-Eqtisad News that "the committee, headed by Atwani, hosted Deputy Prime Minister and Minister of Planning Mohammed Tamim to discuss maximizing non-oil revenues."

Al-Atwani emphasized that "the Finance Committee noted a clear flaw in the estimation of non-oil revenues. By amending the law of the General Authority for Monitoring the Allocation of Federal Revenues, we seek to assess the extent of revenue from investment of state assets and other revenue streams, so that we can have a clear picture when formulating the country's financial policy."

He added, "The committee is determined to activate the work of this important constitutional body and grant it broader powers so it can assume its responsible national role."

He expressed his "concern over the halt in listing projects and the delay in financing ongoing projects," noting that "these reasons are a dangerous prelude that could lead us back to the problem of stalled projects."

The statement added, "The meeting reviewed a number of proposals and ideas agreed upon between the Finance Committee and the Minister of Planning regarding adding tasks and duties to the General Authority for Monitoring the Allocation of Federal Revenues and granting it expanded powers to review revenue estimates and plan for their collection."

He pointed out that "the meeting addressed the issues of the suspension of project listings, the delay in funding ongoing projects, the governorates' financial entitlements, and the delay in announcing the results of the population census."

For his part, the Minister of Planning said, "His ministry has completed its preparation of the 2025 budget schedules, and we have sent them to the Council of Ministers." He noted that they "do not include any new projects, but do include funding for ongoing projects."

The Minister of Planning added, "The results of the general population census are fully ready, and their delay depends on the arrival of some data related to the Kurdistan Region."

https://economy-news.net/content.php?id=53832

Data Confirms Iraq's Pivotal Role In The Global Oil Market

Buratha News Agency1412025-03-26  SOMO today explained the importance of Iraqi oil and its vital role in global markets, while indicating that Iraq has the fourth largest proven oil reserves in the world, at approximately 145 billion barrels. SOMO emphasized the advantages of Iraqi oil, explaining,

“Global crude oils are classified and their quality is determined based on their API (specific gravity) and sulfur content. Iraqi crude oil produced on this basis is classified into (medium and heavy crude oil) based on its specific gravity.

It has a high sulfur content for both types, according to the sulfur content standard. It is considered a crude oil with specifications (required globally), and is compatible with the operational plans of refineries that wish to produce specific products according to their needs.”

She explained that "among the advantages that help attract buyers are the significant and growing demand for medium and heavy crude oils, stable production, and the availability of large, stable quantities that ensure long-term supply contracts for these refineries.

The geographic location and low shipping costs make Iraqi oil a favorite in the Asian market, in addition to the fair, competitive price based on market fundamentals."

The company continued, "Iraq ranks fifth in the world in terms of oil production, with an output of approximately 4.27 million barrels per day, making it the second-largest producer in OPEC after Saudi Arabia. Iraq also has the fourth-largest proven oil reserves in the world, at approximately 145 billion barrels."

She pointed out that "this ranking reflects Iraq's vital role in global oil markets, as it contributes significantly to meeting global energy demand. Marketing-wise, Iraqi crude oil is considered an important oil with a good market reputation, as it is relied upon by many global refineries in their refining operations and there is relatively high demand for it."

 She added, "Iraqi crude oil is in global demand for refineries in several countries, as Iraqi crude oil is exported exclusively to companies that own refineries, but most of the companies to which Iraqi crude oil is exported are Asian companies, the most important of which are China and India, at a rate of approximately 70%, and approximately 30% for the other two markets, European and American combined."

She also pointed out that "OPEC and OPEC+ policies determine production levels, which are reflected in global prices, impacting the buying and selling of Iraqi crude oil. The greater the production restrictions, the higher the prices and the lower the quantities sold, and vice versa. These policies also impact the market share and financial returns."   https://burathanews.com/arabic/economic/458057

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/