Iraq Economic News And Points To Ponder Tuesday Afternoon 6-16-25

Iraq’s Foreign Exchange Reserves Decline
 
Iraq Amr Salem June 17, 2025 The Central Bank of Iraq. Photo: INA  Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) revealed on Tuesday that the country’s foreign exchange reserves declined in May 2025. 
 
Official data released by the CBI indicated that the country’s reserves of foreign exchange reached 126 trillion Iraqi dinars ($96.9 billion) on May 31 compared to 127.32 trillion Iraqi dinars ($97.94 billion) on May 1, Shafaq News reported.
 

Iraq’s foreign exchange reserves declined from 127.51 trillion Iraqi dinars ($98.089 billion) in April.
 
The country’s foreign exchange reserves amounted to 130.34 trillion Iraqi dinars ($100.27 billion) in 2024, down from 145.25 trillion Iraqi dinars ($111.73 billion) in 2023.
 
The director of the Investment Department in the CBI, Mohammed Younis,
revealed earlier in June that foreign reserves surpassed $100 billion.
 
Iraq’s foreign reserves are managed in accordance with thoroughly planned policies
based on
     highly secure standards and
     invested in safe financial products
that yield appropriate returns, according to Younis.
 
The CBI disclosed last month that its
official reserves fell by more than 11 trillion Iraqi dinars ($8.39 billion) in a single year.
 
Foreign reserves provide comprehensive coverage of the monetary base,
as well as financial indicators including trade and foreign obligations.
 
Iraq, the world’s fifth-largest oil producer,
can quickly and effectively increase its foreign exchange reserves
due to consistent international financial flows.      
https://www.iraqinews.com/iraq/iraqs-foreign-exchange-reserves-decline/

 Iraq Seeks A Balance That Avoids Escalation Between Iran And Israel.

June 17, 2025  Baghdad (AFP) - Iranian drones and missiles, as well as Israeli fighter jets, are crossing Iraqi airspace, a situation that is forcing Baghdad to redouble its efforts to maintain a delicate balance and prevent the country from slipping into a new regional conflict.

"There is a great risk that the escalation will spread to Iraq," political analyst Sajjad Jiyad told AFP.

Iraq has long been an arena for regional conflicts, which is currently raising concerns that it could slide into the throes of war between Iran and Israel.

US forces are stationed in Iraq as part of the US-led international coalition fighting ISIS. However, armed Iraqi groups affiliated with the Iranian-led "Axis of Resistance" are also present, and have previously targeted US forces.

During US President Donald Trump's first presidential term in 2020, a US drone killed Major General Qassem Soleimani, commander of the Quds Force of the Iranian Revolutionary Guard Corps, in Baghdad.

Amid the ongoing conflict between Iran and Israel, the country that receives the largest amount of US military aid, attention is turning to these Iraqi armed factions that have so far remained uninvolved.

But for how long?

Political analyst Tamer Badawi believes that "the more Iran struggles to maintain its firepower in the face of Israel, the greater the likelihood of involvement" of pro-Iranian Iraqi armed groups.

He added, "Iran is trying to spare its network collateral damage by keeping its regional allies on alert. However, this position could change."

A senior Iraqi security official told AFP that "everyone" within the pro-Iranian Iraqi camp "is cooperating with the government to keep Iraq out of the conflict."

- American "response"? -

Baghdad has been working for years to reconcile its strong alliance with its neighbor, Iran, a regional heavyweight with which it shares a long border and political, economic, and cultural ties, and its strategic and military partnership with Washington, which opposes Iran's nuclear program.

At dawn on Friday, Israel launched a large-scale attack, targeting military and nuclear sites in Iran in particular. Iran responded hours later with missile and drone strikes against the Jewish state. The exchange of fire between the two countries continues and expands.

The Iraqi government called on Washington to "prevent" Israeli aircraft "from repeatedly violating Iraqi airspace and carrying out attacks" on Iran.

The violation of Iraqi airspace angered pro-Iranian Iraqi factions, who accused US forces in Iraq of allowing it.

While the Secretary-General of the Hezbollah Brigades, Abu Hussein al-Hamidawi, affirmed in a statement on Sunday that Iran "does not need any military support from anyone to deter the criminal Zionist entity," he said, "We are closely monitoring the movements of the American enemy army in the region."

He added, "If America intervenes in the war, we will act directly against its interests and bases spread throughout the region without hesitation."

"We once again call on the Iraqi government to protect US diplomatic missions and military personnel present in the country at the request of the Iraqi government," a US official told AFP.

He added, refusing to reveal his name, "Iraq will be more stable and sovereign through its energy independence and distancing itself from harmful Iranian influence," referring to the import of Iranian gas to power Iraq's power plants.

The official also condemned the "violent and destabilizing" activities carried out by "Iran-backed militias."

Sajad Jiyad believes that “if Iran confirms that the United States (…) supports Israel in its attacks against Iran, this could prompt pro-Iranian elements inside Iraq to target the US embassy or consulate in Erbil, or US forces and the Ain al-Assad base,” where the international coalition is stationed in western Iraq to combat ISIS.

This could lead to a "US response inside Iraq, targeting these pro-Iranian groups, as well as a direct attack from Israel."

- "The Godfather" -

Tensions escalated in Iraq when war broke out in the Gaza Strip following the unprecedented attack launched by Hamas against Israel on October 7, 2023. Iraqi armed factions loyal to Iran claimed responsibility for launching dozens of missiles and drones at sites in Iraq and Syria where US troops were deployed as part of the international coalition. Washington responded by bombing sites belonging to these factions.

These same groups, part of what is known as the "Islamic Resistance in Iraq," claimed responsibility for launching drones at targets in Israel. The Israeli military intercepted most of these drones, before one killed two Israeli soldiers in the occupied Syrian Golan Heights in October 2024.

Tamer Badawi believes that the Iraqi armed factions loyal to Iran "retain the ability to target Israel from western Iraq" or even "target American interests in Jordan."

However, Iraq is preparing to hold parliamentary elections at the end of this year, motivating the political class, including armed factions represented by parliamentarians, to strive to maintain stability.

A leader in the Iraqi armed factions told AFP, "We do not deny that some parties have recently become involved in political activity. It is the nature of battle that preparations are sometimes made, and it is not normal to carry a sword throughout the battle."

He added, "There is a period when the sword must be in its sheath, but that does not mean abandoning the weapon or fearing confrontation."

He pointed out that Iraqi factions consider Iran their "spiritual father," adding, "We will not leave our father to fight the battle alone." He continued, "The United States, France, and Britain stand openly with Israel... so why don't we support the Islamic Republic?" LINK

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 6-17-25

Good Morning Dinar Recaps,

Ripple v. SEC Stalls Again as Appeal Put on Hold — Here’s What’s Holding It Up

The U.S. Securities and Exchange Commission (SEC) has requested to extend the pause in its high-profile legal battle with Ripple Labs, with the next court update scheduled for August 15.

In a joint filing submitted on June 16, both parties asked the Second Circuit Court of Appeals to maintain the current hold, citing an unresolved district court issue—despite reaching a formal settlement agreement last month.

What Began as a Billion-Dollar Dispute Edges Toward Resolution

▪️ This case, launched in 2020, centers around the SEC’s accusation that Ripple illegally raised $1.3 billion through unregistered XRP sales.

▪️ A partial ruling in 2023 provided clarity: XRP sales to retail investors were not securities, but institutional sales were found to have violated securities laws.

▪️ In May 2024, the two sides reached a settlement in principle, finalized in writing on May 8. Under the agreement:

• Ripple will pay $50 million to the SEC.

• The remaining $75 million from a previous penalty will be returned to Ripple.

• The injunction blocking certain Ripple activities would be dissolved.

Settlement Hits a Wall in District Court

▪️ The agreement cannot move forward without district court approval to revise its earlier judgment.

▪️ Both parties submitted a motion requesting an indicative ruling—a legal signal from the court that it would consider modifying the judgment.

▪️ On May 15, the court denied this motion, citing a failure to meet the standard of “exceptional circumstances.”

▪️ In response, the SEC and Ripple filed a renewed motion on June 12, hoping to meet the court’s threshold. No ruling has been issued yet.

Appeals Paused, Legal Uncertainty Grows

▪️ As the legal process stalls, the SEC has asked the appeals court to continue the pause, promising an update by August 15.

▪️ The delay prolongs regulatory uncertainty as crypto firms, investors, and policymakers await further clarity on the application of U.S. securities law to digital assets.

▪️ With billions in crypto markets still in a legal grey area, this case remains a bellwether for how token sales and crypto company operations may be judged going forward.

A Waiting Game With Major Implications

While a path to resolution appears to be forming, the final outcome hinges on court approval of the settlement terms. For now, both the appeals and the Ripple-SEC agreement remain in limbo—with industry-wide consequences hanging in the balance.

@ Newshounds News™
Source: CryptoNews

~~~~~~~~~

Cardano Founder Confirms Full XRP Package in the Works Around Glacier Airdrop, XRP DeFi, and RLUSD

Charles Hoskinson has confirmed that a comprehensive XRP ecosystem integration is underway within the Cardano network, including support for the Glacier Airdrop, XRP-powered DeFi, and possible RLUSD stablecoin adoption.

The announcement signals a major shift toward cross-chain collaboration and potentially heals long-standing tensions between the Cardano and XRP communities.

Glacier Airdrop and XRP Wallet Support on Lace

▪️ A core piece of this initiative is the Glacier Airdrop, now expected in Q4 2025, which will distribute Midnight tokens—used for Cardano’s privacy-focused sidechain—to retail users across multiple chains, including XRP holders.

▪️ Hoskinson emphasized this effort is built around “cooperative economics,” prioritizing community participation over VC allocations.

▪️ The airdrop will reportedly reach over 37 million wallets, marking one of the largest cross-chain community rewards attempted in the blockchain space.

▪️ Additionally, Cardano’s Lace wallet is preparing to add native XRP support, following its successful Bitcoin integration in Lace v1.22 this past April.

“This is part of our effort to turn Lace into a true multi-chain asset manager, bridging Cardano to wider ecosystems,” Hoskinson said.

XRP DeFi Integration in Cardano’s Ecosystem

▪️ The Cardano team is actively developing infrastructure to bring XRP into its DeFi environment, focusing on:

• Cross-chain liquidity pools

• Decentralized exchanges (DEXs)

• Leveraging XRP’s speed and cost-efficiency

▪️ While still early-stage, Hoskinson suggested that Midnight, Cardano’s zero-knowledge sidechain, may play a key role as a DeFi layer for XRP, potentially offering enhanced yield opportunities.

Talks Underway for RLUSD on Cardano

▪️ In what could be a milestone for stablecoin interoperability, Ripple’s RLUSD may soon expand beyond the XRP Ledger, with discussions underway about integrating it into the Cardano network.

▪️ Hoskinson confirmed these conversations are in their early stages but said both parties “see real value” in bringing RLUSD to Cardano’s ecosystem.

• The move would expand RLUSD’s user base

• It would also boost liquidity and stability within Cardano DeFi platforms

Toward a Real XRP–Cardano Partnership

Hoskinson’s comments mark the most direct effort yet to bridge the XRP and Cardano ecosystems, historically viewed as separate and even adversarial within crypto discourse.

▪️ The proposed “XRP package” includes:

• Glacier Airdrop eligibility for XRP holders

• Lace wallet XRP support

• DeFi connectivity via Midnight

• Potential RLUSD cross-chain deployment

Though still in development, this initiative could bring two of crypto’s largest communities closer than ever—and lay the foundation for shared infrastructure, liquidity, and growth.

 @ Newshounds News™
Source: The Crypto Basic   

~~~~~~~~~

What Happens if BRICS Currency Prevails — and Why Is India Worried?

The proposed BRICS currency—championed by China and Russia—is gaining momentum as the alliance prepares for its possible launch. A mock-up bill displayed by President Putin at the last BRICS summit confirmed that plans for a new tender to rival the U.S. dollar are active and advancing.

But as excitement builds, one member is signaling sharp resistance: India. New Delhi has expressed open concerns about the impact such a currency could have on its economy—and its place in the global financial system.

India Breaks Ranks Over De-Dollarization

▪️ India is the only BRICS member to publicly oppose the de-dollarization agenda promoted by China and Russia.

▪️ This comes after former U.S. President Donald Trump warned of potential economic consequences for nations drifting away from the U.S. dollar.

▪️ While Brazil remains cautious, India has made it clear that it favors maintaining ties with Western financial institutions, rather than embracing a BRICS-led currency model.

China’s Leverage and the Belt and Road Factor

▪️ China's Belt and Road Initiative (BRI) plays a pivotal role in its influence over smaller BRICS and Global South nations.

• With billions invested in ports, railways, and infrastructure, Beijing already holds significant financial sway.

• A successful BRICS currency would only solidify China’s economic dominance across Southeast Asia and Africa.

▪️ India is particularly concerned that such a shift would give China further power to shape trade policies across the region, leaving India at a strategic disadvantage.

Rupee Vulnerability and Asymmetrical Trade

▪️ If the BRICS currency succeeds, the Indian rupee could face increased instability, especially if regional trade begins to shift away from dollar benchmarks.

▪️ India-China trade has long been imbalanced, and ongoing border disputes have only heightened mistrust.

• Indian policymakers fear that China could weaponize a BRICS currency to tip economic dynamics further in its favor.

“India recognizes the BRICS currency as a potential vehicle for Chinese dominance—not just economically, but geopolitically,” analysts note.

Modi’s Balancing Act: Contain China, Preserve Western Ties

▪️ Under Prime Minister Narendra Modi, India is pursuing a strategy to limit China’s financial rise while preserving its role within the BRICS framework.

▪️ India views continued alignment with Western financial systems as a buffer against Chinese overreach.

▪️ The government’s stance reflects a broader objective: to maintain balance in Southeast Asia and ensure that no single power—especially China—dictates the region’s financial architecture.

What’s at Stake

▪️ A successful BRICS currency could reshape global finance, potentially undermining the dollar’s dominance.

▪️ But for India, the cost could be economic instability and geopolitical disadvantage.

• A BRICS tender led by China threatens to shift the region’s center of gravity, with India forced into a reactive, rather than proactive, role.

For now, India is pushing back, hoping to reshape the conversation before a BRICS currency becomes reality.

@ Newshounds News™
Source: Watcher.Guru

~~~~~~~~~

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Thank you Dinar Recaps

“Tidbits From TNT” Tuesday Morning 6-17-2025

TNT:

Tishwash:  Banking expert: The success of the economy requires national cooperation between the government and the Central Bank.

Banking expert Dr. Nabil Al-Abadi emphasized that "Iraq's economic future begins with reforming its financial system, and this represents the most important step toward building a modern, diversified, and stable Iraqi economy."

Al-Abadi said in a statement seen by Al-Masry on Tuesday, "Economic success requires national cooperation between the government, the Central Bank, banks, the private sector, and the international community."

He explained that "success in this path will have a tremendous multiplier effect on all aspects of the Iraqi economy, as it has contributed to attracting investment, revitalizing the private sector, creating jobs, integrating the informal economy, and combating corruption."

He explained that "the overall strategic importance of this approach lies in supporting economic diversification, as Iraq's economic vision to move away from oil cannot be implemented without a strong banking system that directs funding toward productive sectors—agriculture, industry, tourism, and technology—and contributes to attracting foreign direct investment.   link

Tishwash: Parliamentary Finance: The government is determined to prepare the financial budget schedules.

The Parliamentary Finance Committee confirmed on Thursday that the government is working on preparing budget schedules that are in line with the country's financial reality.

Committee member Atwan Al-Atwani said in a statement followed by Lakma News that "the committee discussed with the Prime Minister the preparation of the budget, and stressed the need for it to arrive before the end of the year to give legal status to government spending, both operational and investment."

He added, "The government is determined to prepare budget schedules in line with the current financial reality, given the increase in operating spending and the need for investment spending to finance projects. We look forward to the budget being presented to the House of Representatives in the coming days."

Al-Atwani pointed out that "the government is keen to secure salaries despite the annual financial deficit," noting that "the government is taking serious steps to provide alternatives to financing the budget other than oil to ensure additional resources."  link

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

Tishwash:  Iraq warns of an escalation of the war and the closure of the Strait of Hormuz: Damage will affect the global economy.

 Foreign Minister Fuad Hussein explained that the current conflict between Iran and Israel will cause significant damage to the global economy, especially if it extends to the Strait of Hormuz. During a phone call with his British counterpart, David Lammy, Hussein emphasized that Israel is violating Iraqi airspace and that the international community must take action to prevent these violations.

 Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a call from his British counterpart to discuss developments in the regional crisis and ways to de-escalate the situation.

On Monday, June 16, 2025, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a phone call from British Foreign Secretary David Lammy, during which they discussed rapid regional developments and ways to avoid escalation.

During the call, the British minister affirmed his country's support for Iraq's stability and the need to keep it neutral from any attacks or conflicts. He emphasized the importance of controlling the situation and preventing any interference by what he described as "armed groups" in the ongoing conflict. He explained that Britain has not participated in any military operations, and that it is in ongoing contact with France and Germany to coordinate positions, in addition to consulting with the American side on developments in the war.

Minister Lammy also stressed the need to return to the negotiating table regarding the nuclear program, warning of the danger of any attacks on American or British forces deployed in the region, regardless of the perpetrator. He added that the United Kingdom believes that diplomatic solutions are the only way to avoid further escalation, praising Iraq's role in this regard despite the sensitivity of its geographical location and the complexities of the regional situation.

For his part, Mr. Fuad Hussein expressed his gratitude to his British counterpart for this communication, emphasizing the importance of the British role in calming the situation, whether through European tripartite cooperation (Britain, France, and Germany) or through coordination with the United States.

The Foreign Minister pointed out that the continuation of the war would have serious repercussions for the region and the world, explaining that "there are no victors in this war," and that its continuation could cause major economic crises, particularly if it extends to the Strait of Hormuz, which could lead to a global economic crisis.

Fuad Hussein affirmed that Israel continues to violate Iraqi airspace, and that these violations constitute a blatant violation of Iraqi sovereignty and international law. He emphasized the need for the international community to take serious steps to halt these violations and work to contain the conflict.

For his part, Minister Lammy noted that closing the Strait of Hormuz would create a severe economic crisis for Britain and Europe and would lead to higher inflation rates. He emphasized the need for joint action to avoid further deterioration and resolve this crisis through political and diplomatic solutions. link

Mot:  .. Yeppers!! -- the 4th is Right around da Corner... Be Aware!!! 

Mot: NOT Funny!! -- Mr. Scott!! -- NOT Funny  

MilitiaMan & Crew: IQD Update-Baghdad Reforms-Taxes Customs ASYCUDA-5 Million Units-Integrating Factories-Exchange Rate

MilitiaMan & Crew:  IQD Update-Baghdad Reforms-Taxes Customs ASYCUDA-5 Million Units-Integrating Factories-Exchange Rate

6-16-2025

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=ed2nsT5IgZA

Iraq Economic News And Points To Ponder Monday Evening 6-16-25

Building Smart Cities Is A Qualitative Leap In The Capital's Reality

June 14, 2025   Governorates - Al-Zaman correspondents   Baghdad Mayor Ammar Musa affirmed the need to move forward with implementing a vision he described as comprehensive, to bring about a qualitative shift in the capital's reality.

This came during his participation in the Iraqi Cities Conference, noting that the Baghdad Municipality has adopted the development of smart services in the city's infrastructure. In a speech during the conference, which was organized by the Federation of Iraqi Chambers of Commerce, in cooperation with the International Chamber of Commerce, and with the participation of the Arab Smart Cities Forum, Musa said, as followed by (Al-Zaman) yesterday, that "Baghdad is committed to urban development paths and sustainable city concepts."

Signing Ceremony

The Mayor of Baghdad sponsored the signing ceremony of the infrastructure contract for 11,000 housing units in the New Sadr City project, in line with the government program's directions. Yesterday's statement referred to (the signing of the infrastructure implementation contract for the construction of 11,000 housing units in the New Sadr City project), indicating that (the signing of the contract comes after successive stages of implementing this project).

The statement added that (more than 30 specialized companies were attracted, and a solid Chinese company with extensive experience in implementing infrastructure was selected), noting that (the Projects Department of the Baghdad Municipality and the Chinese company signed the contract as part of the first step to launch housing projects, within the framework of increasing the number of housing units and expanding them towards the outskirts, with the aim of addressing the housing problem).

Baghdad Municipality is planning to build 20 pedestrian bridges in the capital, distributed among densely populated areas. Baghdad Municipality spokesperson, Uday Al-Jandil, said in a statement yesterday that "the Projects Department will soon implement a plan to maintain 10 pedestrian bridges, 7 of which are in Rusafa and 3 in Karkh," indicating that "maintenance work will begin in the coming days, pursuant to the formation of a specialized committee to determine maintenance needs, which have been referred to a specialized company for rehabilitation and reconstruction."

For its part, the Ministry of Planning discussed the challenges facing the Social Fund for Development projects in Sulaymaniyah Governorate, with the participation of representatives of the World Bank and relevant authorities, to discuss the administrative and technical challenges hindering the implementation of its projects, and to expedite contracting and procurement procedures.

Sulaymaniyah Deputy Governor for Technical Affairs, Ahmed Ali Ahmed, emphasized the importance of the Social Fund for Development in supporting local development efforts, expressing his hope to find solutions to the multiple challenges that he emphasized affect the speed and efficiency of project implementation in Sulaymaniyah, including administrative procedures, technical and financial conditions, as well as economic and environmental conditions.

In turn, the Director of the Social Fund for Development, Hazem Ahmed Saleh, explained that the meeting comes as part of the Fund's commitment to implementing projects and improving services by developing real solutions that expedite work and reactivate stalled contracts. Sabah Jundi Mansour, the Fund's supervisor, stated that the service projects implemented in various areas play an effective role in improving infrastructure.

 In a related development, the Baghdad Water Directorate, affiliated with the Ministry of Construction and Housing, is moving towards establishing additional complexes to improve distribution among the population.

“The maximum energy we produce is in line with the global standard for water consumption per person, which ranges between 250 and 300 liters per day per person, and the amount may increase to 350 liters per citizen per day,” said the director general of the directorate, Hekmat Abdul Majeed Hamid, in a statement followed by Al-Zaman yesterday.

He pointed out that “the amount of water produced is distributed among the population, but the challenge lies in the fairness of distribution and the difference in population densities between the Karkh and Rusafa areas.”

In Najaf, Governor Yousef Gnawi laid the foundation stone for a project to build a 3,000 cubic meter water complex in the city of Al-Mundhir and Al-Ridha, at the site of the Al-Mundhir district water complex. Gnawi said in a speech during the ceremony yesterday that "the project comes within the ongoing efforts to strengthen the water infrastructure in the governorate and improve the level of water services provided to residents," adding that "it contributes to supporting the water system in the region and meeting the needs of citizens and residential complexes located within the aforementioned geographical area."

Warsi Gnawi and the head of the provincial council, Hussein Al-Issawi, laid the foundation stone for the project to establish a training stadium and develop the Kufa Sports Club stadium.

During the ceremony, Gnawi stressed, “The Najaf administration is keen to advance the sports sector by establishing and rehabilitating stadiums and sports facilities,” noting that “these projects constitute part of supporting the sports and youth movement and strengthening its role in society.”

He continued, “The project includes the establishment of a modern training stadium with high technical specifications, in addition to rehabilitating the front facade of the Kufa Sports Club stadium, to a level befitting Najaf sports and its history,” as he put it.

Security Duties

Karbala Police Directorate Media Officer Colonel Engineer Ihsan Youssef Al-Asadi confirmed that "the External Road Protection Department in the Directorate carried out a number of security duties to enhance security and provide protection for pilgrims arriving in Karbala, in accordance with the directives of Governor Nassif Al-Khattabi."

Al-Asadi explained to Al-Zaman correspondent yesterday that "these measures or duties included securing the three external axes as well as setting up temporary checkpoints, which contributed to the arrest of a number of violators, in addition to securing the pilgrims' cities and organizing the passage of pilgrims in cooperation with traffic checkpoints within the framework of the joint effort to protect lives and property."

Youssef pointed out that "the security forces were able to provide first aid to a number of people injured as a result of a traffic accident, which reflects the concern of these security forces for the humanitarian aspect in addition to the security tasks assigned to them." Al-Asadi stressed the continuation of these security measures to ensure the safety of pilgrims and citizens alike." LINK

Basra Crude Achieves Significant Weekly Gains

Time: 2025/06/14 Reading: 450 times  {Economic: Al Furat News} Basra crude posted significant weekly gains as global oil prices rose amid escalating tensions in the Middle East.

Basra Heavy crude closed the final session on Friday up $4.34 to $70.07, posting weekly gains of $8.24, or 13.33%. 

Basra Medium crude closed the last session up $3.34 to $72.87, posting weekly gains of $8.19, or 12.66%.  Globally, Brent and Texas Intermediate crude oils posted gains on a weekly basis.

Brent crude closed up $4.87 to $74.23, while US crude closed up $4.94 to $72.98.   LINK

Gold Prices Rise In Baghdad And Erbil
Saturday, June 14, 2025, 11:47 AM | Economic Number of reads: 361  Baghdad / NINA / The prices of "foreign and Iraqi" gold witnessed a significant increase in the local markets in the capital, Baghdad, and Erbil, on Saturday morning.

The selling price of one mithqal of 21-karat Gulf, Turkish, and European gold in the wholesale markets on Al-Nahr Street in Baghdad, this morning, reached 700,000 dinars, while the purchase price reached 696,000 dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 670,000 dinars, while the purchase price reached 666,000 dinars.

As for gold prices in jewelry stores, the selling price of one mithqal of 21-karat Gulf gold ranged between 700,000 and 800,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 670,000 and 680,000 dinars.

In Erbil, the selling price of a mithqal of 22-karat gold reached about 736,000 dinars, and 21-karat gold reached 703,000 dinars, while 18-karat gold recorded about 602,000 dinars per mithqal. https://ninanews.com/Website/News/Details?key=1234299

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

The Final Rally Before a Massive Crash & Global Reset: Henrik Zeberg

The Final Rally Before a Massive Crash & Global Reset: Henrik Zeberg

Wealthion:  6-16-2025

Henrik Zeberg joins Maggie Lake to issue a bold and urgent warning: the global economy has already hit the iceberg, and a massive crash may be just months away.

But first, he says, markets could soar in a final liquidity-fueled rally, creating one last chance to prepare before everything changes.

Henrik lays out his thesis for why we’re nearing the end of this business cycle, why central bank and fiscal stimulus might backfire, and why the next crisis could end the U.S. dollar’s dominance in a global monetary reset.

Key topics:

Why Henrik says the housing market has already frozen, and what that means

How $4.5 trillion in global liquidity is fueling a dangerous blow-off top

What could trigger a deflationary bust followed by a stagflation crisis

Will the U.S. dollar lose its global reserve status?

The long-term opportunity Henrik sees in AI, tech, and innovation

Chapters:

00:37 - Zooming Out: The Macro Picture

02:38 - Will the Recession Be Global?

06:28 - Stocks Surging into Trouble?

08:41 - Are Investors Too All-In?

13:34 - What Pops the Blow-Off Top?

15:46 - Does a Two-Tier Economy Buy Time?

 18:30 - Gold’s Rally—Safe Haven or Hype?

20:40 - How High Can Crypto Fly?

26:01 - Recession or Something Darker?

31:00 - Why Commodities Spike in a Slump

32:25 - Can Fiscal Firepower Save Us?

34:11 - Global Teamwork—or Fragmentation?

37:13 - What Keeps You Up at Night?

 40:45 - Where Do You Hide Your Money?

46:55 - Wildcards That Flip the Script

48:05 - Wealthion’s Golden Nugget: The Best Bets for the Next Decade?

49:44 - Can a Doomster Be an Optimist?

https://www.youtube.com/watch?v=kApQRV1oFDY

Iraq Economic News And Points To Ponder Monday Afternoon 6-16-25

Baghdad Begins Steps To Reform The Tax And Customs System.
 
Economic 06/16/2025  Baghdad: Dania Haider   As part of ongoing efforts to enhance economic stability and     develop non-oil resources, relevant institutions have begun taking practical steps to reform the customs and tax system to keep pace with development requirements.
 
The amendment of customs prices is part of this comprehensive reform vision. With the aim of protecting national products and supporting local industrial sectors, while simultaneously taking into account citizens' living conditions and exempting essential goods from any additional burdens.

• Developing non-oil revenues is a necessity.
 
Academic and public finance expert Dr. Ahmed Hithal told Al-Sabah that "given the high reliance on oil to finance the gross domestic product (GDP), exceeding 65%,and to cover the general budget by up to 92%,  efforts to develop non-oil revenues become an urgent strategic necessity that contributes to achieving economic stability." 

He pointed out that  "increasing customs duties as a revenue-boosting tool could contribute to this trend, provided it is designed within a comprehensive economic vision that takes into account the nature of the Iraqi market and current production conditions, ensuring the achievement of objectives without negatively impacting trade flows." 

He added,  "Theoretically, increasing customs duties could increase non-oil revenues, but this impact depends on  market flexibility,  import volume, and  importers' ability to comply with payment."

He continued, "According to the Laffer Curve,  achieving optimal tax and duty rates is essential to avoid any adverse effects, such as  traders' reluctance to import,  customs evasion, or  increased smuggling through informal ports.
 
This makes  improving collection efficiency and   expanding the customs basea more effective option than simply raising rates." 

Hathal emphasized that  "successful tax reform is not measured solely by raising rates,  but rather by achieving fairness and efficiency in collection,  so that low-income groups do not bear additional burdens through higher prices of imported goods.
 
This is where the importance of automating the customs system through the ASYCUDA program becomes clear.
 
This represents a fundamental step in  enhancing transparency,  reducing evasion and corruption, and  expanding the tax base,   ensuring social justice through a fair and equitable distribution of burdens." 

He added,  The successful implementation of the ASYCUDA system, which contributed to increasing customs revenues by more than 50% without the need for price increases, reflects the significant potential to enhance the efficiency of the state's financial management.
 
This achievement also represents a promising starting point for implementing a broader package of economic and customs reforms aimed at building a financial system that supports local production and diversifies sources of income away from excessive reliance on indirect taxes." 

He noted that  "the recent customs amendments,  while a positive step toward convergence with global standards, achieving their full impact requires in-depth study that takes into account the economic differences between Iraq and neighboring countries, as well as the need to develop a flexible and comprehensive customs policy that keeps pace with national income levels and enhances local production." 

 He concluded by emphasizing that "maximizing non-oil revenues should be based on  improving collection efficiency,  reducing tax evasion, and  expanding the tax base through automation and effective governance, in addition to  stimulating productive sectors,  to achieve balanced development that  ensures economic justice and  enhances long-term financial stability."
 
• Keeping pace with global economic developments
 
Economic expert Dr. Ikram Abdel Aziz explained to Al-Sabah that "the decision, which is based on adopting new customs price lists for goods and commodities,  came in implementation of Cabinet Resolution No. 270 of 2025, which entered into force as of June 1, 2025."

She explained that  this decision represents an important step towards keeping pace with real global customs prices, while maintaining the percentages specified in the Customs Tariff Law as they are. She added that
 
this step carries within it many considerations that support modern financial trends and serve customs declarations and invoices submitted to banks for financial transfer purposes. Dr. Ikram emphasized that
 
the customs price increase did not include goods directly related to citizens' basic needs,
such as food and other essential goods, in line with the state's policy of caring for social segments.
 
Regarding increasing revenues, the expert explained that  "maximizing revenues through customs duties depends on the mechanisms for determining duties, which are linked to the course of fiscal policy and its directions, taking into account the social and economic dimensions resulting from them.
 
This is in addition to the role of monitoring procedures and the sound management of border crossings in ensuring the achievement of the desired returns, thus contributing to enhancing the state's revenues without harming the economic security of society." 

She pointed out that "tax reform represents an important and successful step towards enhancing revenues and achieving social justice, especially in light of the heavy reliance on oil revenues, which constitute approximately 90% of budget funding, while tax revenues currently do not exceed 2% of GDP, a modest rate compared to international standards. In this context, she stressed the importance of "providing a reliable database that includes all entities and individuals working in various economic activities,  given that the success of tax reform depends primarily on documenting actual incomes."

She also emphasized the need to raise exemption limits for the poorest segments to protect them from any negative impacts that may result from the reforms.

Dr. Ikram added,   "Tax reform is extremely important,  but it should not impose a heavy burden on taxpayers.
 
It aims to enhance citizen confidence in tax institutions and encourage voluntary compliance." She also emphasized the  need to "implement good governance in the management of tax revenues to ensure increased productivity of public spending,  which contributes to achieving justice and accelerating the pace of development and economic growth."
 
In the context of comprehensive economic reforms, Dr. Ikram explained that  these reforms represent part of the state's direction within the framework of the government's economic reform program,  where work is underway on eight tax-related reform packages,  alongside other reform tracks encompassing various productive and service sectors of the national economy."
 
• Support the national product
 
For his part, economic expert Dr. Duraid Al-Anzi believes that "customs duties should be imposed according to a specific mechanism, based on gradually escalating taxes on foreign goods until they are removed from the Iraqi market, in exchange for supporting domestic products to enable them to access foreign markets." 

Al-Anzi emphasized "the importance of tax reform, which should focus on imposing taxes in a balanced manner on both foreign and domestic goods, taking into account the  size of local production and  its ability to meet market needs.
 
Imposing broad taxes could lead to higher prices in local markets,  which would negatively impact citizens." He also noted that "60 to 70 percent of industrial products could be manufactured locally if full support was provided."
 
• Gradual and controlled reforms
 
The Prime Minister's Financial Advisor, Dr. Mazhar Mohammed Saleh, told Al-Sabah that  "customs authorities play a crucial role in protecting the economy within the framework of fiscal policy,
particularly in  supporting domestic production, without restricting trade flows, but rather by  directing them toward the most effective and important commodities in economic development activity."

He added that  "raising tariffs or customs duties does not necessarily mean restricting imports or closing markets, but can be used as a regulatory tool aimed at reducing the problems of  commodity dumping and   protecting local industries, in addition to enhancing the state's general revenues." 

Saleh explained that "the overall economic objectives of amending customs tariffs are to create a fair competitive environment that does not prevent the entry of foreign products or impede free trade.
 
Higher customs tariffs can be imposed on luxury or non-essential goods,
while maintaining low or zero tariffs on basic goods and raw materials used in the production process." 

He pointed out that  "such policies contribute to   encouraging local production and   rationalizing luxury consumption, without compromising basic commercial activity, while seeking to direct imports toward what achieves the greatest benefit and productivity for the national economy as a whole." 

Saleh emphasized that "what is most important in this context is that the adjustment of customs duty rates be gradual, allowing markets to adapt to the changes,  while ensuring that duties are applied precisely and selectively rather than across the board."
 
He concluded his remarks by emphasizing that "raising customs tariffs,  if done rationally, transparently, and with good governance,does not conflict with free market principles.
 
Rather, it is consistent with smart policies that regulate trade and support economic development,
without imposing arbitrary restrictions on the movement of goods entering Iraqi markets." https://alsabaah.iq/116001-.html 

Iraq Warns Of Possible Oil Price Surge To $300 Per Barrel
 
  Iraq Amr Salem June 15, 2025   Oil tankers and Iranian speedboats in the Strait of Hormuz. 
Baghdad (IraqiNews.com) – The Iraqi Minister of Foreign Affairs, Fuad Hussein, warned on Saturday that the Strait of Hormuz might be closed due to the Israel-Iran confrontation, causing   the global market to lose millions of barrels of oil per day and a  price increase of between $200 and $300 per barrel.
 
Hussein’s remarks took place during his phone conversation with the German Minister of Foreign Affairs, Johann Wadephul, during which he mentioned that if military operations between Iran and Israel continue, the   global market will lose approximately five million barrels per day produced by Iraq and the Gulf States, according to a statement issued by the Iraqi Foreign Ministry.
 
The Iraqi foreign minister stressed that the Israel-Iran confrontation
     will cause an unexpected spike in oil prices,
     aggravating the worldwide inflation issue and
     harming the economy of both oil producers and importers, particularly Iraq.
 
During different phone calls with foreign ministers in the region as part of Iraq’s diplomatic effort to address the rapid developments in the Middle East,
 
Hussein emphasized the gravity of Israel’s military assault on Iran, as well as the serious violation of international law and neighboring countries’ sovereignty, most notably Iraq.
 
Hussein urged the international community to reject the Israeli violations, emphasizing that continued military escalation does not serve regional stability but instead threatens to spark a large-scale conflict with serious security and economic consequences for the region and the world.https://www.iraqinews.com/iraq/iraq-warns-of-possible-oil-price-surge-to-300-per-barrel/ 

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

Why The Fed Faces An 'Almost Impossible Challenge'

Why The Fed Faces An 'Almost Impossible Challenge'

Yahoo Finance  Mon, June 16, 2025   Yahoo Finance Video

On Wednesday, the Federal Reserve will make its decision on interest rates. Advisors Capital Management partner portfolio manager JoAnne Feeney thinks the central bank faces a "really major and almost impossible challenge." Find out what it is in the video above at link below.

Video Transcript:

Yeah, so there's there's a really major and almost impossible challenge for the Fed, right?

On the one hand, tariffs to the extent that they are initiated, and we've already had some, and particularly that increase on steel and aluminum which will percolate through lots of products that use steel and aluminum, are clearly going to increase prices.

And that could be a one-time quick increase, but more likely it's a sort of price increase that is taken up by different firms across the economy only gradually, and those percolate through, they propagate into the future.

So you do get an inflation uptick because of tariffs.

How big that is depends on how big the tariffs are and how long they last.

That increase in inflation should prompt the Fed to keep rates higher for longer.

On the other hand, tariffs also reduce economic activity.

They make things more expensive, not just for consumers, but for firms trying to build stuff, trying to expand even restaurants, buy lots of electronics.

They're going to be subject to potentially higher tariffs.

So that economic slowdown is something that would normally confront by reducing interest rates.

So the Fed needs to do two opposite things at the same time, which means they will do nothing, right?

Unless they figure out that one of those forces is considerably larger than the other

They definitely need to keep inflation expectations anchored.

Right now, we think that's the bigger of their two goals, so we think it's very unlikely that the Fed cuts rates anytime soon.

So even if they stay on hold, we will be receiving the summary of economic projections, those are quarterly projections that includes the dot plot where interest rates could be heading.

What are you expecting to see and how could that change from what we saw previously?

TO READ MORE:  https://finance.yahoo.com/video/why-fed-faces-almost-impossible-100008067.html

Economist’s “News and Views” 6-16-2025

Asia Moves Forward to Ditch Dollar: 50% Crash by 2030 Expected?

Daniela Cambone:  6-16-2025

“The U.S. dollar is likely to go down 25 to 50% over the next five years,” says Marko Papic, Chief Strategist at BCA Research.

He tells Daniela Cambone that the driving force behind this decline is less about the loss of reserve currency status and more about fading U.S. economic outperformance. Papic also points out that Trump’s tax cuts bill “does not add to growth in any way, shape, or form” and warns, “Expectations of U.S. growth are overstated, and that means the dollar is way too expensive.”

He further argues that rate cuts are becoming ineffective, as the long end of the yield curve remains unresponsive. “Everyone borrows at the long end of the curve — not the short end. So if the long end doesn’t fall, rate cuts don’t matter.”

What matters now, he stresses, is fiscal and trade policy — not monetary policy. Papic’s advice to investors: “Diversify out of the dollar — diversify out of the U.S.”

Chapters:

 00:00 – Asia moves away from the U.S. dollar

03:31 – Is the dollar’s reserve status at risk?

 05:57 – U.S. fiscal expansion explained

08:37 – Will we see interest rate cuts?

10:15 – The future of the U.S. dollar

12:15 – Where does gold fit in?

13:26 – A new world order: U.S. foreign policy shift

https://www.youtube.com/watch?v=3vD6f_StwFk

The REAL Reason Trump & Elon's Fort Knox Visit Was CANCELLED! - Jim Rickards

Financial Wisdom:  6-16-2025

0:00 - Elon Musk and Trump’s aborted Fort Knox gold audit

1:12 - Why the Fort Knox visit was canceled and the myth of missing gold

2:00 - Geopolitical gold accumulation by nations like China and Russia

3:07 - Importance of cash in portfolios and Warren Buffett’s cash strategy

 4:48 - Tax-deferred compounding and Buffett’s Gen Re acquisition

6:00 - Cash as strategic optionality in market downturns

 7:01 - Robert Shiller’s “Narrative Economics” and the power of market stories

8:43 - Historical example: Narratives during the Great Depression

9:55 - Recent economic narratives: The pivot myth and market behavior

11:20 - Trading lessons: Cognitive bias, stop-loss discipline, and trader psychology

https://www.youtube.com/watch?v=dng_2edqG90

Silent Debt COLLAPSE: $50 Billion in Bond Downgrades Signal a Massive Wave of Defaults Is Incoming

Lena Petrova:  6-15-2025

https://www.youtube.com/watch?v=XZWoDq1HG-I

Iraq Economic News And Points To Ponder Monday Morning 6-16-25

Economist Warns: The Dollar Will Explode If Iraq Enters The War With Israel And Iran - Urgent
 
Economy Yesterday, | 1157  economic hell  Baghdad Today – Baghdad   As regional tensions between Israel and Iran escalate, Iraq stands at a dangerous juncture,
 
the repercussions of which could extend beyond politics and security to the heart of the fragile economy, burdening ordinary citizens who still yearn for a lost stability.

Whenever the drums of war beat in the region, Iraqi markets are the first to tremble, as fear turns into a frenzied race for the dollar, and the dinar becomes a burden rather than a security.
 
In a scene that is repeated with every crisis, anxiety levels rise among traders and citizens, and the dollar begins to rise, as if reflecting the pulse of fear in the streets.
 
As news of the potential for the conflict to expand continues, economists warn of an impending catastrophe,

warning that any Iraqi involvement in the conflict will 
     mercilessly ignite the foreign exchange market and 
     push the prices of basic commodities to levels beyond the reach of ordinary citizens.
 
From this standpoint, the warning issued by economic expert Othman Karim,
on Sunday (June 15, 2025),
reflects a worrying reality,
speaking clearly about the scenarios that could destabilize the dinar and threaten food security,
if Iraq becomes embroiled in a war that is not its own, but one that will cost it dearly.  Karim told Baghdad Today,
 
"The rise in the dollar exchange rate immediately after the Israeli strikes is a normal occurrence in the market,
due to the fears of traders and those who own dinars and who resorted to quickly converting their currency into dollars."  He added,
 
"The exchange rate will remain below 150,000 dinars for the time being,
 
but if Iraq enters a state of war, prices ill reach more than 160,000 dinars, and may rise further, significantly impacting food prices,  especially if the seaports on which Iraq relies are completely closed."
 
The Middle East is witnessing an unprecedented escalation in tensions between Israel and Iran,
amid an exchange of threats and military strikes that threaten to expand the conflict to neighboring countries.
 
Iraq, due to its geographical location and its intertwined relationships with the parties to the conflict, faces the possibility of slipping into a war, either directly or indirectly, raising widespread popular and economic concerns.

Iraq is a country that relies heavily on imports, particularly food, which arrive via seaports.
 
This makes it vulnerable to fluctuations in regional and international markets.
 
The Iraqi economy also suffers from structural fragility, 
making it highly susceptible to political or security unrest.
 
This was evident in previous crises that led to sharp fluctuations in the dinar's exchange rate against the dollar, directly impacting the prices of goods and services.
 
With recurring geopolitical tensions, Iraqi markets are in a state of constant suspense, 
with the dollar exchange rate being more influenced by sentiment and anxiety than economic data.
 
This makes any military escalation in the region a direct cause of significant fluctuations that could impact citizens' daily lives.     https://baghdadtoday.news/276440-.html  

A "Time Bomb"... The Iraqi Economy Is At Risk Due To Jordanian Banks.
 
Economy     2025-06-10 |   4,697 views  Alsumaria News – Economic  Financial and banking expert Mustafa Hantoush described Jordanian banks' control over remittances as a "time bomb" on Tuesday.

Hantoush told Sumaria News , "The issue of Jordanian and Gulf banks controlling the current currency auction is like a time bomb," noting that
 
"the dollar's valuation has been directed to 50 private Iraqi banks in order to resolve it."  He added,
 
"These foreign banks have joint accounts, controlling more than $50 billion annually, which is a significant amount,"
 
warning of the danger of "these banks monopolizing remittances, even though they are affiliated with foreign investment." 

He stressed the "need to take action,  either dismantling the banks, which is unacceptable, or implementing real instructions that are    consistent with international models, not a model tailored to Iraq and never implemented at all."  
  
https://www.alsumaria.tv/news/economy/529225/قنبلة-موقوتة-الاقتصاد-العراقي-في-خطر-بسبب-مصارف-اردنية

Prime Minister's Advisor: Iraq Is Qualified To Become A Regional Financial Center With Four Strategic Powers.
 
Yesterday, 13:18  Baghdad - INA - Nassar Al-Hajj  The Prime Minister's financial advisor, Mazhar Mohammed Salih, identified four factors that make Iraq a regional financial center on Sunday, stressing that Iraq possesses foreign reserves exceeding $100 billion.
 
“There are four elements of strength that make Iraq a regional financial center, the 
first of which is that it is the second largest producer of crude oil in the Middle East, and 
it has the fourth largest oil reserves in the world, through which it competes to take precedence in the global energy market, through     more production and     achieving financial flows
 
that make it a financial and economic pillar in the economic geography of the Middle East, by achieving large financial surpluses that can be directed to investment in financial infrastructure,” Saleh told the Iraqi News Agency (INA).

He stated that "Iraq has foreign reserves exceeding $100 billion, which provides it with a
     significant financial safety margin, confidence in     monetary stability, and       high financial investment attractiveness."

 He added, "The second factor is Iraq's unique geoeconomic location,  which is a vital corridor linking the world's north to its south.
 
This represents an open economic space between global markets and their financial and commercial attractions, with links that provide important climates for the concentration of regional financial markets,
 
which will revolve around the strategy of the 'development project' linking Europe and the Gulf." He continued:
 
"The third factor is the demographic or human factor, and   its foundation is the population boom, as   the percentage of the population under the age of thirty is close, which makes Iraq one of the young nations.

The high percentage of youth (more than 60% under the age of thirty)
will provide a flexible human base that can be trained in
     financial technology,
     banking innovation,
     digital technology, and
     artificial intelligence."

He noted that   "the government is undertaking the establishment of an important college for artificial intelligence sciences as inputs to the financial labor market and its foundations." He added,
 
"The fourth factor is modernizing and restructuring governance in government-owned banks,
given that they currently control 80% or more of banking activity."

He emphasized that  "the reform campaign being led by the government today for the aforementioned banks aims to transform Iraq into a global financial center after ridding it of the risks of bureaucracy and inefficiency inherited over many decades."

He pointed out "the importance of  electronic payments and the  gradual expansion of the use of bank cards, point-of-sale (POS),   collection systems, and  smart wallets, which have helped achieve significant leaps in digital financial inclusion.

This is coupled with the presence of the Iraq Stock Exchange and the Securities Commission,
which operate in a robust, integrated, and promising manner as an infrastructure to establish Iraq as a regional hub for consolidating the country's institutional financial stability."

He explained that  "the legal, executive, and regulatory infrastructure requirements are the key lever for enabling this transformation. These include, for example,
     linking banks to effective electronic payment platforms and
     supporting the development of the current National Data Center to serve as the sovereign digital financial infrastructure that supports Iraq's efforts to transform into a regional financial center."

 He pointed out that  "Iraq's transformation into a regional financial center will be achieved through the 
     collection and integration of financial, banking, and economic data,
     supporting smart monetary and financial policies,
     enabling financial technology and smart data analysis,
     enhancing transparency and governance of financial institutions,
     stimulating the non-banking finance sector, such as microfinance companies,
     reforming the insurance sector, and
     licensing financial technology (Fintech) companies." He pointed out that
 
"the current political, legal, and institutional stability that our country enjoys today,
in a prosperous and solid manner,
is the true basis for financial strength.
 
There is no financial center without a stable and secure political and legal environment."
 
Saleh emphasized the importance of building regional and international partnerships, such as
studying the importance of joining regional payment systems and financial structures of international groups such as the   G20 or   BRICS, or  partnerships with strong financial centers in  Singapore, Dubai,  Hong Kong, and others.       https://ina.iq/ar/economie/236406-.html 

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

Seeds of Wisdom RV and Economic Updates Monday Morning 6-16-25

Good Morning Dinar Recaps,

Coinbase & Gemini Secure EU MiCA Licenses Amid Malta–Lux Clash

Two of the crypto industry's biggest names—Coinbase and Gemini—are finalizing regulatory approvals under Europe's new MiCA framework, but their divergent paths have sparked debate across the continent. With Malta’s fast-tracking and Luxembourg’s slower, high-standard approach, the European crypto regulatory landscape is entering a pivotal phase.

Coinbase and Gemini: Two Roads to MiCA Approval

▪️ Coinbase is seeking its EU MiCA license via Luxembourg, a globally respected financial center.
▪️ Gemini, meanwhile, is nearing imminent approval from Malta, which has already licensed OKX and Crypto.com within weeks.
▪️ This divergence is testing European Union regulatory consistency, as MiCA allows member states to issue single-market licenses to crypto firms.

Malta’s Fast-Track Raises Eyebrows

Malta’s rapid approval process is under scrutiny by regulators from other EU countries. Critics argue that a “license shopping” effect could emerge, where firms seek out the most lenient jurisdictions.

▪️ France’s AMF warned of a “regulatory race to the bottom,” pointing to Malta's small regulatory staff.
▪️ Malta’s MFSA defended its speed, saying: “Expedited processing was due to our in-depth understanding acquired over these years.”

Luxembourg's Deliberate Approach

Coinbase has taken a more measured route via Luxembourg, with its MiCA application underway for months.

▪️ A Coinbase representative emphasized Luxembourg’s global financial credibility, calling it “a high-bar, well respected financial centre.”
▪️ The firm plans to hire over 20 new staff in Luxembourg by year-end, expanding its existing 200-person European team.

MiCA Faces Its First Real Test

As the first major MiCA licenses are issued, the EU's ability to maintain regulatory uniformity is being put to the test.

▪️ Central Bank Governor Gabriel Makhlouf previously compared crypto to a Ponzi scheme, warning: “Most of the time when you gamble, you’re actually losing.”
▪️ ESMA is now examining Malta’s process closely, with a report to be shared among member states in the coming weeks.

What's at Stake

With the Gemini MiCA approval and Coinbase EU MiCA license serving as precedent, these cases could define:

• Whether MiCA's promise of harmonization will hold

• How jurisdictional competition might impact investor protections

• The degree of regulatory trust within the EU's internal crypto market

As regulatory friction builds, Europe’s new crypto era is taking shape—and the outcomes of these licenses may define the rules of engagement for years to come.

@ Newshounds News™
Source: Watcher Guru

~~~~~~~~~

Vietnam Passes Landmark Law Defining Digital Assets, Boosting AI and Chip Sectors

Vietnam has taken a major step forward in regulating crypto and accelerating digital innovation. A new law passed by the National Assembly legalizes digital assets and lays the foundation for massive state-backed investment in semiconductors, AI, and digital infrastructure. The move positions Vietnam as one of the first nations with a comprehensive legal framework for digital assets.

Clear Rules for Crypto—And Major Incentives for Tech

▪️ The Law on Digital Technology Industry, passed with 441 out of 445 votes, takes effect January 1, 2026.
▪️ It formally classifies digital assets into three categories: virtual assets, crypto assets, and other digital assets—each with defined property rights under civil law.
▪️ The law ends the regulatory gray zone that pushed Vietnamese crypto startups to relocate abroad.

What the Law Covers

▪️ Virtual assets: Used for exchange or investment, not recognized as currency.
▪️ Crypto assets: Authenticated and transferred via encryption and blockchain.
▪️ Other digital assets: Encompassing non-financial digital goods.
▪️ Securities, fiat tokens, and other financial instruments are excluded from these definitions.

A Homecoming for Crypto Innovation

Vietnam’s crypto ecosystem had seen explosive growth despite unclear laws.

▪️ The country ranked 5th globally in crypto adoption in 2024, per Chainalysis.
▪️ Over $105 billion in blockchain investments entered Vietnam during 2023–24—mostly routed through offshore entities.
▪️ Prime Minister Pham Minh Chinh had previously ordered crypto regulation development to support his 8% GDP growth target.

The new law is designed to bring crypto firms back home by offering both legal certainty and economic incentives.

Vietnam Bets Big on AI, Chips, and Data Centers

Beyond crypto, the legislation signals a bold national tech agenda:

▪️ Aims to grow to 150,000 digital technology enterprises by 2035.
▪️ Offers corporate tax rates as low as 10% for 15 years for qualifying tech firms.
▪️ Waives import duties and land rental fees for digital infrastructure, AI, and semiconductor ventures.
▪️ Projects investing $80M+ in data centers or $160M+ in chip fabs qualify for "special" status—triggering perks like five-year personal tax exemptions for foreign experts.

Vietnam explicitly states its goal to become “an essential link in the global semiconductor supply chain.”

This landmark legislation is more than crypto regulation—it's a full-scale blueprint for transforming Vietnam into a leading digital economy in Asia.

@ Newshounds News™
Source: Decrypt

~~~~~~~~~

BRICS Just Launched a New Energy Alliance Backed by Petro-Yuan Deals

The BRICS energy alliance has officially launched a coordinated system of petro-yuan oil contracts, directly challenging the U.S. dollar’s dominance in global energy markets. With an expanded bloc now controlling 46 million barrels per day of oil production, BRICS is rapidly implementing currency shift mechanisms—including yuan-denominated contracts, rupee-ruble swaps, and local currency financing—marking the most significant threat to U.S. financial hegemony since Bretton Woods.

How BRICS Plus Is Reshaping Global Energy Markets and Challenging Dollar Hegemony

Energy Production Powerhouse Emerges

▪️ The expanded BRICS energy alliance includes Saudi Arabia, Russia, Iran, UAE, and Brazil, jointly producing nearly a quarter of global oil—totaling 46 million barrels per day.

▪️ Gas reserves are even more concentrated, with Russia, Iran, Qatar, Algeria, and UAE now holding two-thirds of global reserves.

▪️ Petro-yuan transactions are rising sharply. In one year, 60% of yuan-denominated crude oil trades took place on the Shanghai Stock Exchange, bypassing the U.S. dollar entirely.

▪️ Strategic energy infrastructure projects like the Power of Siberia 2 pipeline—linking China, Kazakhstan, and Russia—are set to be operational by late 2025, further boosting BRICS' influence.

Payment Revolution Underway

▪️ Energy payments are shifting away from SWIFT and dollar dominance:

• Russia and India now settle in rupee-ruble swaps.

• China and Saudi Arabia process billions through yuan-riyal channels.

• The Riyadh Royal Court has reportedly reviewed the dollar-denominated oil contract system.

▪️ By early 2025, yuan-based oil trades represented 24% of daily Brent crude volume—a significant erosion of dollar exclusivity.

▪️ These developments form a parallel financial infrastructure, operating independently of Western-controlled systems.

Development Bank Financing Shift

▪️ The New Development Bank (NDB), a BRICS financial arm, is aiming for 30% of all lending in local currencies by 2026, up from 22% today.

▪️ The bank maintains a $5 billion annual lending target while reducing its dependence on the U.S. dollar.

▪️ Major projects now financed in local currencies include:

• Nairobi-SGR railway renovation (Kenya)

• Johor Baru port expansion (Malaysia)

▪️ Petro-yuan oil contracts are thus not confined to commodities—they underpin broad development financing as well.

Challenges and Future Implications

▪️ The BRICS bloc still grapples with internal tensions, such as the India-China border dispute and Iran-Saudi regional rivalry.

▪️ A unified BRICS currency remains elusive, requiring full consensus, and members have divergent views on implementation.

▪️ The U.S. dollar still dominates, accounting for 59% of global reserves compared to just 2.48% for the yuan. But that gap is being challenged in practical terms.

▪️ Analysts describe this moment as the “first defeat of the invincible army”—not a full collapse of dollar dominance, but a fundamental shift to multi-currency energy systems.

A New Global Financial Map in the Making

BRICS' energy initiatives effectively transform the dollar from a compulsory tool to an optional one. While the U.S. retains unmatched military spending—$750 billion annually—its monetary control in global trade is no longer absolute.

Through the petro-yuan contracts, local-currency development loans, and alternative payment systems, the BRICS energy alliance offers a functional route for Global South nations to escape Western financial dependency.

This marks the most substantial de-dollarization movement in decades, with real-world energy trade flows and infrastructure spending steadily redesigning the global economic landscape—outside traditional, Western-led frameworks.

@ Newshounds News™
Source: Watcher.Guru

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