Dinar Recaps 20 7/11/26 Dinar Recaps 20 7/11/26

Iraq’s Biggest Update yet, July 13th Trip to Trigger the Reset: Jon Dowling

Iraq’s Biggest Update yet, July 13th Trip to Trigger the Reset: Jon Dowling

7-10-2026

Iraq is stepping onto the international stage with renewed vigor, signaling a proactive approach to both its foreign relations and domestic economic landscape.

Recent developments highlight a strategic push to solidify its position globally while simultaneously tackling internal challenges through ambitious reform efforts.

A key indicator of Iraq’s renewed international focus is the expedited visit of Prime Minister Al Zaidi to Washington D.C., now set for July 13th.

Iraq’s Biggest Update yet, July 13th Trip to Trigger the Reset: Jon Dowling

7-10-2026

Iraq is stepping onto the international stage with renewed vigor, signaling a proactive approach to both its foreign relations and domestic economic landscape.

Recent developments highlight a strategic push to solidify its position globally while simultaneously tackling internal challenges through ambitious reform efforts.

A key indicator of Iraq’s renewed international focus is the expedited visit of Prime Minister Al Zaidi to Washington D.C., now set for July 13th.

This earlier-than-planned engagement underscores a deliberate strategy to re-establish Iraq as a significant player and strengthen its bilateral ties with the United States. The discussions are anticipated to cover a broad spectrum of critical areas, including enhanced cooperation on economic growth, bolstering security measures, and addressing vital energy issues.

Beyond its relationship with the U.S., Iraq is actively fostering stronger connections within its own region. The strategic discussions are expected to involve key regional players such as Saudi Arabia, the UAE, Syria, and Turkey, reflecting a comprehensive approach to regional stability and collective prosperity. This collaborative spirit aims to create a more integrated and secure environment for all involved nations.

Domestically, Iraq has launched a massive anti-corruption campaign that is yielding remarkable results. Reports indicate unprecedented recoveries exceeding $141 billion, comprising substantial sums of cash and gold that were illicitly accumulated by corrupt officials. This robust campaign is not merely about justice; it’s a strategic move designed to significantly stabilize Iraq’s national currency and invigorate its economy. The successful retrieval of these vast sums is poised to inject much-needed capital and confidence into the Iraqi financial system.

Alongside these recovery efforts, there are ongoing discussions concerning the potential implementation of a modern digital currency system.

These discussions reportedly explore innovative models for digital assets, potentially backed by tangible resources, as part of a broader push towards financial modernization. Such initiatives could represent a significant step in enhancing financial transparency and efficiency within the country.

The interplay of these profound changes in Iraq has resonated within global financial markets, contributing to a period of notable volatility. Observers have noted fluctuations in various asset classes, with precious metals prices, for instance, experiencing shifts amidst broader economic adjustments and evolving investment strategies worldwide.

Reports also suggest a climate of anticipation regarding significant transitions within global banking frameworks. Some sources indicate discussions surrounding potential structural changes in the financial system, with a public launch of certain new methodologies anticipated in the mid to late July timeframe. These broader discussions reflect a global landscape where financial infrastructure is continually evolving in response to technological advancements and economic pressures.

Iraq’s proactive engagement on both the international diplomatic front and its ambitious domestic economic reform agenda marks a pivotal moment for the nation. With significant recoveries from corruption and forward-looking discussions on financial modernization, Iraq is charting a course towards greater stability and influence.

https://www.youtube.com/watch?v=Rx6NrbvdWI4

DINARRECAPS8 7/11/26 DINARRECAPS8 7/11/26

Iraq Economic News and Points To Ponder Saturday Afternoon 7-11-26

Iraq’s Finance Ministry Insists On Full Recovery Of Corruption Funds

2026-07-11 03:29 Shafaq News- Baghdad Iraq’s Finance Ministry Said On Saturday That Any Mechanism For Repaying Funds Owed By Convicted Corruption Offenders Must Guarantee The Full Recovery Of State Money, Stressing That Judicial Matters Remain Outside Its Mandate.

The Ministry Explained That Its Role In Corruption-Related Cases Is Limited To Financial Matters And Safeguarding The Treasury's Rights, While Any Repayment Arrangement Must Be Binding And Enforceable To Protect Public Funds. It Also Confirmed That Requests For Amnesty And Other Judicial Procedures Remain Solely Within The Judiciary's Authority Under The Applicable Legal Framework.

Iraq’s Finance Ministry Insists On Full Recovery Of Corruption Funds

On Friday, The Supreme Judicial Council Said It Was Coordinating With Prime Minister Ali Al-Zaidi's Government On A Legal Framework That Would Ease Judicial Measures Against Corruption Suspects Who Voluntarily Return Stolen Public Funds. Najaf's Friday Prayer Leader, Sadr Al-Din Al-Qubanji, Rejected The Proposal, Warning It Would Encourage Further Corruption And Urging The Judiciary To Handle Corruption Cases "With Complete Justice And Firmness."

Https://Www.Shafaq.Com/En/Economy/Iraq-S-Finance-Ministry-Insists-On-Full-Recovery-Of-Corruption-Funds

Dollar Falls In Baghdad, Erbil Markets

2026-07-11 04:00 Shafaq News- Baghdad/ Erbil The Us Dollar Opened Saturday’s Trading Lower In Iraq, Hovering Around 154,000 Dinars Per 100 Dollars.

According To Shafaq News Market Survey, The Dollar Traded In Baghdad's Al-Kifah And Al-Harithiya Exchanges At 153,750 Dinars Per 100 Dollars, Down From The Previous Session’s 154,500 Dinars.

In The Iraqi Capital, Exchange Shops Sold The Dollar At 154,250 Dinars And Bought It At 153,250 Dinars, While In Erbil, Selling Prices Stood At 153,900 Dinars And Buying Prices At 153,850 Dinars.

Https://Www.Shafaq.Com/En/Economy/Dollar-Falls-In-Baghdad-Erbil-Markets-9

Rafidain Bank Reshuffles Department Leadership

2026-07-11 05:02 Shafaq News- Baghdad Iraq's state-owned Rafidain Bank has introduced a series of leadership changes across key departments as part of an internal restructuring, a source told Shafaq News on Saturday.

According to an administrative order dated July 9, 2026, Sanaa Sabeeh Mousa was reassigned from head of the Compliance Department to lead the Bank Restructuring Division, while Mohammed Karim Hussein was appointed acting head of the Compliance Department.

In the Risk Management Department, Zainab Hussein Ghaib was relieved of her duties as first assistant to the department's director, Ahmed Bashar Abdul Aziz was named acting director, and Lubna Mahmoud Tawfiq was appointed as an auditor.

The order stipulates that the performance of Hussein and Tawfiq will be evaluated three months after they assume their new positions.

The changes take effect upon the officials' formal handover of their previous duties, with all transfer procedures to be completed in accordance with the bank's administrative regulations.

https://www.shafaq.com/en/Economy/Rafidain-Bank-reshuffles-department-leadership

Basrah Crudes Post Weekly Losses Amid Global Declines

2026-07-11 02:39 Shafaq News- Basrah Iraq’s Basrah crude lost more than 24% over the past week, as major global benchmarks weakened.

Basrah Heavy crude dropped by $1.65 in its last trading session to $48.27 per barrel, down 3.31% on the day and recording a weekly loss of $11.82, or 24.49%. Basrah Medium crude slipped by $1.65 to settle at $50.37 per barrel, falling 3.17% in its final session and posting a weekly loss of $6.82, or 13.54%.

Brent futures settled at $76.30 a barrel, down $1.72, or 2.2%, while US West Texas Intermediate (WTI) crude closed at $72.08 a barrel, down $1.44, or 2.0%.

https://www.shafaq.com/en/Economy/Basrah-crudes-post-weekly-losses-amid-global-declines-5

Iraq’s Banking Sector Grows To 81 Institutions

2026-07-11 05:31 Shafaq News- Baghdad Iraq’s banking sector has expanded to 81 financial institutions, making it one of the largest banking markets in the Middle East by the number of banks, the Eco Iraq Observatory reported on Saturday.

Describing Iraq’s banking sector as one of the most active in the region, the Observatory listed eight state-owned banks, 24 local commercial banks, 31 local Islamic banks, 16 foreign banks, and two representative offices of foreign banks. It also pointed to the rapid growth of electronic payment services, noting that the country has 20 electronic payment companies and 25 million active bank cards in circulation.

Despite the increase in the number of banks and financial institutions, the Observatory said that the sector’s economic and service role remains limited, with many institutions yet to fully adopt the technological advances that have reshaped global banking.

“Iraq still does not have a fully integrated electronic bank capable of providing comprehensive online financial services,” it stated, hailing the country’s recent efforts to modernize the financial sector, expand electronic payments, and reduce reliance on cash-based transactions.

https://www.shafaq.com/en/Economy/Iraq-s-banking-sector-grows-to-81-institutions

Dollar Declines In Baghdad, Erbil Markets

2026-07-11 09:52 Shafaq News- Baghdad/ Erbil The US dollar closed Saturday’s trading lower in Iraq, hovering around 153,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,250 dinars per 100 dollars, down from the morning session’s 153,750 dinars.

In the Iraqi capital, exchange shops sold the dollar at 153,750 dinars and bought it at 152,750 dinars, while in Erbil, selling prices stood at 153,250 dinars and buying prices at 153,250 dinars.

https://www.shafaq.com/en/Economy/Dollar-declines-in-Baghdad-Erbil-markets-2

Gold Prices Decline In Baghdad, Erbil Markets

2026-07-11 05:14 Shafaq News- Baghdad/ Erbil On Saturday, Gold Prices Hovered Around 890,000 IQD Per Mithqal In Baghdad And Erbil Markets, According To Shafaq News Market Survey.

Gold Prices On Baghdad's Al-Nahr Street Recorded A Selling Price Of 884,000 IQD Per Mithqal (Equivalent To Five Grams) For 21-Carat Gold, Including Gulf, Turkish, And European Varieties, With A Buying Price Of 881,000 IQD. The Same Gold Had Sold For 887,000 IQD On Thursday.

The Selling Price For 21-Carat Iraqi Gold Stood At 854,000 IQD, With A Buying Price Of 851,000 IQD.

In Jewelry Stores, The Selling Price Per Mithqal Of 21-Carat Gulf Gold Ranged Between 885,000 And 895,000 IQD, While Iraqi Gold Sold For Between 855,000 And 865,000 IQD.

In Erbil, 22-Carat Gold Was Sold At 940,000 IQD Per Mithqal, 21-Carat Gold At 897,000 IQD, And 18-Carat Gold At 770,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-decline-in-Baghdad-Erbil-markets-0-1

DINARRECAPS8 7/11/26 DINARRECAPS8 7/11/26

Seeds of Wisdom RV and Economics Updates Saturday Afternoon 7-11-26

Good Afternoon Dinar Recaps,

CLARITY Act Gains Momentum as Senate Finalizes Crypto Framework and Trump Administration Rejects CBDC

The U.S. Senate is moving closer to releasing the final version of the CLARITY Act as lawmakers merge competing drafts, while the Trump administration reinforces its opposition to a U.S. central bank digital currency. Together, these developments could establish the most significant regulatory framework for digital assets in U.S. history.

Good Afternoon Dinar Recaps,

CLARITY Act Gains Momentum as Senate Finalizes Crypto Framework and Trump Administration Rejects CBDC

Overview

The Senate Banking and Agriculture Committees are finalizing a unified version of the CLARITY Act, with the updated legislative text expected shortly.
Treasury Secretary Scott Bessent reaffirmed that the Trump administration opposes a U.S. Central Bank Digital Currency, instead supporting private-sector innovation through stablecoins and tokenized assets.
Democratic lawmakers are seeking additional hearings regarding President Trump's cryptocurrency holdings, introducing new political debate even as bipartisan momentum for crypto legislation continues.

Key Developments

1. Senate Nears Release of Final CLARITY Act

Senate Banking and Agriculture Committee leaders are combining their respective versions of the CLARITY Act into a single legislative package. The unified bill is expected to provide clear regulatory authority for digital assets, helping define oversight responsibilities between federal agencies while establishing long-awaited rules for the cryptocurrency industry.

2. Treasury Secretary Bessent Rejects a U.S. CBDC

Treasury Secretary Scott Bessent reiterated that the Trump administration will not pursue a Central Bank Digital Currency, stating that government-issued digital money could create concerns regarding financial surveillance and individual privacy. Instead, the administration continues to support private stablecoins, tokenized assets, and blockchain innovation within the existing financial system.

3. Senate Faces Critical Legislative Window

With Congress returning to session, lawmakers have only a limited period before the August recess to advance the CLARITY Act. Supporters believe the coming weeks represent the best opportunity in 2026 for Senate approval, although the legislation must still secure sufficient bipartisan support to overcome procedural hurdles.

4. Political Debate Continues Alongside Regulatory Progress

Several Democratic senators have requested additional hearings concerning President Trump's cryptocurrency holdings before the final CLARITY Act text is released. While the request adds political scrutiny to the legislative process, it has not halted committee work toward completing the bill.

5. Regulatory Certainty Could Accelerate Institutional Adoption

If enacted, the CLARITY Act would establish clearer legal standards for digital asset exchanges, stablecoin issuers, custodians, tokenized securities, and blockchain developers. Greater regulatory certainty could encourage additional institutional investment while providing businesses with a more predictable operating environment.

Why It Matters

The CLARITY Act represents one of the most significant cryptocurrency regulatory efforts ever considered by the United States. Combined with the administration's rejection of a CBDC, the legislation signals a policy direction that favors private-sector blockchain innovation over government-issued digital currency.

Why It Matters to Foreign Currency Holders

Foreign currency and digital asset investors are closely watching U.S. regulatory developments because they influence the future of tokenized finance, stablecoins, cross-border payments, and digital asset adoption. Greater regulatory clarity could accelerate broader institutional participation in blockchain-based financial markets.

Implications for the Global Reset

Pillar 3 – Assets

Greater regulatory clarity could encourage wider institutional adoption of digital assets, tokenized securities, and regulated stablecoins, expanding the role of blockchain-based financial instruments.

Pillar 4 – Technology

The legislation supports continued development of blockchain infrastructure, tokenization, and digital payment systems, while rejecting a government-issued CBDC in favor of private-sector innovation.

This is not simply about cryptocurrency regulation—it reflects the broader modernization of financial markets as governments establish rules for integrating blockchain technology into the global financial system.

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Saturday Iraq News Posted by Tishwash at TNT 7-11-2026

TNT:

Tishwash: Iraqi PM Ali Faleh al-Zaidi to Visit Washington with High-Level Delegation for Economic and Security Talks

Iraqi Prime Minister Ali Faleh al-Zaidi will travel to Washington this week accompanied by a high-level ministerial and business delegation for talks aimed at strengthening economic, financial, energy, and security cooperation between Iraq and the United States.

TNT:

Tishwash: Iraqi PM Ali Faleh al-Zaidi to Visit Washington with High-Level Delegation for Economic and Security Talks

High-Level Iraqi Delegation

Ali Faleh al-Zaidi will be accompanied by the ministers of Foreign Affairs, Oil, Finance, and Electricity, as well as the Governor of the Central Bank of Iraq.

The Minister of Communications, Mustafa Sanad, may also join the visit. The delegation also includes investors and representatives from companies operating in the energy, electricity, and banking sectors.

Focus of Talks with Washington

The Iraqi delegation is expected to discuss several key issues with U.S. officials, including security, the economy, trade, finance, and banking sector development.

Energy will be a central focus of the talks, covering oil, electricity, and natural gas, with discussions aimed at encouraging greater investment by U.S. companies in Iraq.

Meeting with Trump and Planned Agreements

According to the visit agenda, al-Zaidi is scheduled to meet U.S. President Donald Trump and other senior American officials.

The Iraqi government has expressed its readiness to expand investment opportunities for U.S. companies, and several new agreements and strategic understandings in the energy and financial sectors are expected to be signed during the visit.

Kurdistan Region Representation

Bayan Sami Abdul Rahman, Advisor to Masrour Barzani, will participate in part of the meetings between the Iraqi delegation and U.S. officials.

Her participation is intended to coordinate discussions on issues related to the Kurdistan Region and the future of its relations with Washington. link

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Tishwash: Washington sets a condition for its partnership with Baghdad: ending the presence of weapons outside state control.

The United States renewed its support for the Iraqi government's efforts to restrict weapons to the state, stressing that the involvement of entities that Washington classifies as "terrorist" in state institutions is inconsistent with the nature of the partnership it seeks to build with Iraq, coinciding with warnings that the US-Iranian escalation could push Iraq back into the circle of conflict.

In an interview monitored by Al-Mada, the US Chargé d'Affaires in Baghdad, Joshua Harris, said that Washington believes that achieving full sovereignty for Iraq requires disarming all armed groups outside the authority of the state, considering that their existence contradicts the aspirations of Iraqis for stability and peace.

He added that the United States supports the Iraqi government's vision regarding the restriction of weapons and looks forward to its full and rapid implementation, stressing that the continued activity of illegal armed groups undermines the chances of security and stability in Iraq and the region.

In contrast, security expert Saif Raad Talib told Al-Mada that Iraq is still threatened with becoming an arena for exchanging messages between Washington and Tehran, in light of the escalating military confrontation between them, noting that the presence of armed factions, the continued violation of Iraqi airspace, and the weakness of air defense systems are the most prominent factors that increase this possibility.

He added that any new escalation, particularly in the Strait of Hormuz, could put Iraq in front of a major economic crisis, due to its oil exports being mainly dependent on Gulf ports, which could directly affect public revenues and budget financing.

In this context, the spokesman for the Iraqi government, Haider al-Aboudi, confirmed that September 30 will be the date for the end of the mission of the international coalition in Iraq, noting that the relationship will then turn into an economic and developmental partnership.

Al-Aboudi explained, in statements followed by (Al-Mada), that the government is proceeding with the implementation of the weapons control file in accordance with the constitution and the law, indicating that three parties have responded so far to the procedures for handing over weapons, while two other factions are preparing to complete the procedures, stressing that the disarmament process includes all types of weapons without exception or discrimination. link

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Tishwash: The Central Bank Governor under the dome of Parliament: Crucial questions awaiting answers

All eyes will be on the Iraqi Parliament in the coming days, after the Parliamentary Finance Committee announced its intention to host the Governor of the Central Bank to discuss a number of financial and monetary issues, most notably the mechanism for distributing dollars to travelers, and the repercussions of the recent measures related to the cash dollar quota.

The head of the parliamentary finance committee, Uday Awad, said that the committee will ask questions during the meeting about the reasons for reducing the traveler's share of dollars from $3,000 to $2,000, stressing that there are observations on the mechanism for distributing dollars to travelers, which he described as having problems related to complexity, corruption, extortion and favoritism.

This hosting comes at a time when the monetary file in Iraq is witnessing widespread discussion, especially with the continued debate about the mechanisms for selling dollars, the Central Bank’s procedures for regulating the market, and the impact of this on exchange rates, trade and import activity.

Well-informed political sources indicated that the hosting session may witness the raising of sensitive issues related to the performance of the Central Bank during the past period, the mechanism for managing monetary policy, in addition to evaluating the measures taken to address the dollar market disturbances.

According to the sources, some parties within Parliament are considering the possibility of taking political steps if they are not convinced by the answers provided, amid talk of the possibility of raising the issue of changing the management of the Central Bank, but this remains linked to the results of the hosting and the political positions during the coming period.

Observers believe that the dollar issue has become one of the most prominent economic issues facing the government and parliament, as it is directly linked to prices, market activity, and citizens' confidence in the banking sector.

The next stage may reveal whether hosting the Central Bank Governor will be just an oversight session, or the beginning of larger moves that may affect the management of the monetary file in Iraq link

Tishwash: Following the "Al-Zaidi crackdown," the government is diverting recovered funds to support the economy in the largest repurposing of corruption money.

The government of Prime Minister Ali Faleh al-Zaidi is pursuing reform measures aimed at strengthening public financial management and enhancing the efficiency of financial institutions. This is being achieved through the adoption of new procedures based on the principles of transparency, good governance, and the sound investment of state resources.

Within this framework, the government's move to regulate the management of confiscated and recovered funds and assets by establishing a unified account is seen as a step towards transforming these resources from frozen or scattered funds into effective tools that can contribute to supporting the economy and financing development projects.

Observers believe these measures represent a shift in the way public resources are managed, moving towards a more organized and sustainable approach. This will enhance the confidence of citizens and investors and support the government's efforts in economic reform, combating waste, and maximizing non-oil revenues.

In this regard, the Prime Minister's financial advisor, Mazhar Muhammad Saleh, affirms that establishing a unified account for managing confiscated and recovered funds and assets is a crucial step in strengthening the state's financial management. He points out that this step will contribute to centralizing and managing these resources within a more efficient and transparent institutional framework.

Saleh told Iraq Observer that “establishing the unified account allows for the organized management of recovered funds, enhancing their utilization in supporting the national economy.” He explained that this initiative is part of the government’s efforts to regulate the management of confiscated and recovered assets and improve the efficiency of their utilization.

He added that the strategic use of these funds can yield greater economic returns, whether through their inclusion in development plans or investment in strategic projects that contribute to growth and job creation.

Saleh clarified that these resources represent an additional opportunity to strengthen public finances, emphasizing the importance of managing them according to the principles of governance, transparency, and efficiency. This will make them a source of funding for infrastructure projects and productive sectors, helping to diversify income sources and reduce dependence on oil revenues in the medium and long term.

The Prime Minister’s financial advisor pointed out that having additional financial resources gives the state greater flexibility in facing economic and regional challenges and helps it maintain financial stability and continue implementing its development programs.

He explained that the success of this step would enhance citizens' and investors' confidence in the state's financial management, especially given the importance of regularly announcing the amount of recovered funds and assets, their management mechanisms, and their uses, thus reinforcing the principles of transparency and accountability.

Saleh pointed out that the initiative's importance extends beyond simply recovering funds; it also encompasses building an institutional environment based on integrity and good governance. He noted that combating corruption contributes to reducing financial waste, lowering project costs, and improving the efficiency of public spending.

Saleh emphasized that strengthening governance and reducing corruption levels lead to increased efficiency in managing public projects and improved quality of services and infrastructure. He clarified that the true return on integrity lies not only in recovering funds but also in improving the performance of the national economy.

He concluded by saying that the initiative's success will not be measured solely by the amount of recovered funds but also by the state's ability to transform these resources, along with the savings resulting from curbing corruption, into productive investments and sustainable development projects. He affirmed that combating corruption represents an economic choice that impacts growth, financial stability, attracting investments, and improving the level of services.

On June 28, 2026, the Iraqi government, through its official spokesperson Haider al-Aboudi, announced the launch of Operation Dawn Charge, emphasizing that the operation would not cease and that it represented a radical shift in the state's policy toward corruption. He stressed that the pursuit of those involved would continue regardless of their positions or influence.

The first phase of the operation resulted in the arrest of dozens of officials and prominent political figures, including current and former members of parliament, and included raids in various parts of Iraq, including the heavily fortified Green Zone in Baghdad.

Prime Minister Ali Faleh al-Zubaidi also directed the Ministry of Finance to establish a special account for depositing recovered funds, with the aim of protecting public money and enhancing transparency in resource management.

Al-Zaydi affirmed that the current campaign represents "the first phase," to be followed by others, emphasizing that the government is tasked with protecting the interests of the Iraqi people and will not compromise on this responsibility. He also instructed oversight bodies to receive any reports concerning government performance or the performance of ministries in order to uncover cases of corruption or negligence. link

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Seeds of Wisdom RV and Economics Updates Saturday Morning 7-11-26

Good Morning Dinar Recaps,

BRICS Alternatives to the U.S. Dollar No Longer a “Fantasy,” Says Economist Who Coined BRIC

Growing advances in payment technology and expanding cooperation among BRICS nations are making alternatives to the U.S. dollar increasingly realistic, according to the economist who originally coined the term "BRIC" more than two decades ago.

Good Morning Dinar Recaps,

BRICS Alternatives to the U.S. Dollar No Longer a “Fantasy,” Says Economist Who Coined BRIC

Overview

Jim O'Neill, the economist who coined the term BRIC, says alternative financial systems outside the U.S. dollar are now becoming increasingly feasible.
New payment technologies and cross-border settlement systems are changing how emerging economies conduct international trade.
While the U.S. dollar remains the world's dominant reserve currency, BRICS members continue developing payment infrastructure designed to reduce reliance on dollar-based transactions.

Key Developments

1. Economist Reverses His Earlier View

Jim O'Neill, who introduced the BRIC concept in 2001, said that just 18 months ago he considered the idea of BRICS creating an alternative financial system to be unrealistic. Today, he believes advances in digital payment technology have made such alternatives far more achievable.

2. Payment Technology Is Changing Global Finance

Rather than creating a single BRICS currency, member nations are focusing on cross-border payment systems that connect existing domestic networks. Discussions include initiatives such as BRICS Pay, India's UPI, China's CIPS, Brazil's PIX, and the future use of central bank digital currencies to facilitate international trade outside traditional dollar settlement channels.

3. Dollar Dominance Remains Strong—But Competition Is Growing

O'Neill emphasized that the U.S. dollar remains by far the world's leading reserve and trade currency. However, an increasing number of emerging economies are seeking greater flexibility by settling more trade in local currencies and developing alternative financial infrastructure.

4. BRICS Has Produced Limited Concrete Results—With One Major Exception

Although BRICS has become an increasingly influential geopolitical grouping, O'Neill noted that its practical achievements have been limited. He identified the creation of the New Development Bank as the group's most significant institutional accomplishment to date.

5. Expansion Is Giving BRICS Greater Global Influence

The expansion of BRICS+ has significantly increased the group's global reach, bringing together a larger share of the world's population, trade, and economic output. As membership grows, interest in alternative payment systems and financial cooperation continues to expand.

Why It Matters

Global finance is gradually becoming more diversified. While the U.S. dollar remains the dominant reserve currency, the continued development of alternative payment networks could reshape how international trade is settled over the coming decade.

Why It Matters to Foreign Currency Holders

Currency holders should closely monitor the evolution of international payment systems rather than focusing solely on the possibility of a new reserve currency. Expanding use of local currencies, digital payment rails, and cross-border settlement platforms could gradually influence global capital flows, reserve management, and foreign exchange markets.

Implications for the Global Reset

Pillar 2 – Trade

Growing adoption of alternative payment systems could allow more international trade to be settled outside traditional dollar-based networks, increasing financial flexibility for participating nations.

Pillar 3 – Assets

As countries diversify reserve holdings and settlement mechanisms, gold, local currencies, and other reserve assets may continue playing a larger role alongside the U.S. dollar.

Pillar 4 – Technology

Advances in digital payment infrastructure, blockchain technology, and modern settlement systems are making faster and more efficient cross-border transactions increasingly possible.

This is not simply about replacing the U.S. dollar—it reflects the steady modernization of global payment infrastructure as countries build additional options for international trade and financial settlement.

Seeds of Wisdom Team
Newshounds News™ Exclusive

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🌱 A Message to Our Currency Holders🌱

If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.

What failed was not your patience — it was the information you were given.

For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.

That is not your failure.

Our mission here is different: • No dates • No rates • No hype • No gurus

Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process

Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.

You will see silence. You will see denials. That is not delay — that is discipline.

Protect your identity. Organize your documents. Verify everything.
Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

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Follow the Gold/Silver Rate COMEX

Follow Fast Facts

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Here’s An Inflation Hedge: Go Where Your Money Buys More

Notes From the Field By James Hickman (Simon Black / Sovereign Man} July 7, 2026

[Editor’s note: This letter was written by Schiff Sovereign’s CEO, Viktorija]

Picture the kind of life that, in the West, only the genuinely rich can afford: a full-time housekeeper who cooks and cleans, a concierge doctor you text with directly whenever you need, dinner out with friends several times each week without even thinking about splitting the bill, and a modern condo with pool, gym, and security.

Here’s An Inflation Hedge: Go Where Your Money Buys More

Notes From the Field By James Hickman (Simon Black / Sovereign Man} July 7, 2026

[Editor’s note: This letter was written by Schiff Sovereign’s CEO, Viktorija]

That would easily run $20,000+ per month in the US. The live-in help alone puts it out of reach for most people.

But in Cebu, a coastal city in the Philippines, all of that costs about $3,000 a month.

An ordinary Western middle-class income (even lower middle class) unlocks a lifestyle that looks posh back home.

But cheap is not what makes the Philippines interesting. Plenty of places are cheap. What sets it apart is that it may be the easiest place in Asia for a Westerner to actually live.

Start with the language. English is not a tourist-zone courtesy in the Philippines; it is an official language, used in government, courts, contracts, banks, hospitals, universities, and street signage. Your doctor speaks English. Your lawyer drafts documents in English.

No other major Asian country comes close, and for a retiree or a family building a second base, that changes everything about daily life.

Then there is the familiarity. Spain ruled the islands for more than three centuries and left behind Catholicism, Spanish surnames, town plazas, and a warm, family-centered social culture that feels closer to Latin America than to the rest of Asia.

Then the Americans took over; the Philippines was US territory from 1898 until independence in 1946, which left behind English-language schools, American-style institutions, basketball, and a general comfort with Westerners you will not find in Japan or China.

You can walk through Cebu and pass a Catholic church, a US-style mall, a fresh seafood market, and a group of schoolkids chatting in English, all in the same afternoon.

A comfortable two-bedroom condo in Cebu runs around $450/month.

A couple can live well on $2,500 to $3,500 a month, while retired couples in smaller cities often do it on just $2,000. A private doctor visit costs $10 to $25, a dental cleaning $15 to $30.

The tax picture is friendlier than most people expect too. Foreigners who become Philippine tax residents are generally taxed only on income earned inside the Philippines. A British retiree on a UK pension or a Canadian drawing retirement income will likely owe the Philippines nothing.

The same is true for Americans; the Philippines will not touch their income earned outside of the Philippines. The catch for Americans, of course, is that Uncle Sam taxes citizens on their worldwide income wherever they live.

(Those with earned income can use the Foreign Earned Income Exclusion to shield the first $132,900 of it, but the US tax and reporting obligations follow you regardless.)

What turns all of this from a pleasant vacation into a real Plan B is the residency, which is genuinely easy to get and even easier to keep.

The Philippines' famous retirement visa has been running since 1985, and despite the name you do not need a pension or to be retired; anyone 40 or older can qualify by placing a refundable deposit in a Philippine bank.

There is no minimum stay requirement at all, so you can hold the residency for life while living somewhere else entirely, visiting when you like, and paying a modest annual fee to keep it current.

To be clear, the Philippines has real trade-offs. Foreigners can own condominium units but can never own land directly. Infrastructure outside the main hubs is uneven, typhoons are a fact of life, and the bureaucracy moves at island speed.

And the Philippine passport is weak enough that citizenship is not worth chasing; this is a residency play, not a passport play.

But that is exactly what a Plan B is. It does not require you to move anywhere; it requires securing the legal right to live somewhere you would actually enjoy, before you need it.

In case the comfortable Western life continues drifting out of reach, with housing, healthcare, and help all rising faster than anyone can comprehend, it makes sense to consider potential options abroad.

On the other side of the world, a great life figures in to a below-average Western income, in English, with no winter.

Our flagship service, Plan B Confidential, just published a full report on the Philippines for members: where expats actually live (and the one region to approach with eyes open), realistic budgets, the healthcare and insurance setup, the tax rules for remote workers, the exact deposit tiers for the retirement visa, and what you can and cannot do with the deposit.

The Philippines is one option among many. Plan B Confidential's research covers residency and citizenship pathways, offshore banking, and legal tax strategies across more than 120 countries, so you can shortlist the handful of places actually worth your time from your couch, before spending any real money on the ground.

To your freedom, Viktorija CEO, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/heres-an-inflation-hedge-go-where-your-money-buys-more-155436/?inf_contact_key=369db19ffd8b19bd88cc19cd532a9ccc56374244ed3079802af78ca168e4c2a0

DINARRECAPS8 7/10/26 DINARRECAPS8 7/10/26

Seeds of Wisdom RV and Economics Updates Friday Afternoon 7-10-26

Good Afternoon Dinar Recaps,

NATO Commits to Historic Defense Expansion as Alliance Shifts Into Long-Term Rearmament

The NATO Summit concluded with the alliance committing to significantly higher defense investment, expanded military production, and major new procurement agreements—moves that could reshape government spending, industrial investment, and global economic priorities for years to come.

Good Afternoon Dinar Recaps,

NATO Commits to Historic Defense Expansion as Alliance Shifts Into Long-Term Rearmament

Overview

NATO leaders reaffirmed their commitment to increase defense spending toward 5% of GDP by 2035, marking one of the alliance's largest long-term investment plans.
More than €50 billion in new defense procurement agreements were announced alongside expanded industrial production and innovation initiatives.
The commitments signal a structural shift toward long-term military investment, with implications extending beyond security into government budgets, manufacturing, supply chains, and global capital flows.

Key Developments

1. NATO Accelerates Defense Spending Commitments

Alliance members reaffirmed plans to move toward spending 5% of GDP on defense and security by 2035, with Secretary General Mark Rutte stating that NATO's focus has shifted from setting targets to delivering measurable results. European allies and Canada are assuming a greater share of collective defense responsibilities.

2. More Than €50 Billion in Defense Contracts Announced

Governments and defense companies unveiled over €50 billion in procurement agreements during the NATO Defence Industry Forum. The investments include missile systems, drones, military equipment, and expanded production capacity intended to strengthen the alliance's long-term readiness.

3. Defense Manufacturing Enters a New Growth Cycle

NATO leaders emphasized accelerating defense industrial production by expanding manufacturing capacity, investing in innovation, and reducing production bottlenecks. New initiatives include large investments in unmanned systems and military logistics infrastructure.

4. Infrastructure Spending Expands Beyond Weapons

The alliance also approved major investments to modernize military fuel storage, pipelines, and distribution systems across Europe. These infrastructure projects are designed to improve long-term operational readiness while strengthening supply resilience.

5. Economic Priorities Continue to Shift

The summit underscored that geopolitical risks are increasingly influencing fiscal policy. Governments are redirecting greater portions of national budgets toward defense, potentially affecting future borrowing, industrial policy, and public spending priorities.

Why It Matters

Defense spending has become an increasingly important driver of fiscal policy and industrial investment. Large-scale military procurement requires long-term government financing, expands manufacturing demand, and influences supply chains across multiple sectors of the global economy.

Why It Matters to Foreign Currency Holders

Higher government spending and increased sovereign borrowing can influence inflation, interest rates, and currency valuations. Long-term defense investments may also accelerate industrial growth while affecting capital flows and fiscal balances across NATO member nations.

Implications for the Global Reset

Pillar 1 – Debt

Growing defense commitments will likely require substantial long-term government borrowing, increasing pressure on public finances while reshaping fiscal priorities across advanced economies.

Pillar 2 – Trade

Expanded military production and procurement will strengthen manufacturing, industrial supply chains, and cross-border defense cooperation, creating new trade and investment flows among allied nations.

This is not just about defense—it reflects a long-term shift in government spending, industrial production, and strategic investment that could influence the direction of the global economy for years to come.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

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Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

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Thank you Dinar Recaps

Dinar Recaps 20 7/10/26 Dinar Recaps 20 7/10/26

Iraq Economic News and Points To Ponder Friday Morning 7-10-26

Israel Warns US Of Alleged Iranian Assassination Plot Targeting Trump

2026-07-10 02:59 Shafaq News- Washington Israel has shared intelligence with the United States indicating that Iran is preparing a new plot to assassinate US President Donald Trump, The Wall Street Journal reported on Thursday.

The report did not specify when or through which channel the intelligence was passed to Washington, nor did it disclose further details about the alleged plot.

Israel Warns US Of Alleged Iranian Assassination Plot Targeting Trump

The report did not specify when or through which channel the intelligence was passed to Washington, nor did it disclose further details about the alleged plot.

According to the newspaper, calls for Trump's assassination resurfaced during funeral ceremonies for Iran's late Supreme Leader Ayatollah Ali Khamenei, who was killed in US-Israeli strikes on Iran in late February.

Trump has survived several assassination attempts or alleged plots over the past two years. He was wounded in the ear during a shooting at a campaign rally in Pennsylvania on July 13, 2024, while another suspected attempt was foiled at his golf club in Florida on Sept. 15, 2024.

Most recently, US Secret Service agents arrested a suspect before an armed attack could target the White House Correspondents' Association dinner on April 25, an event attended by Trump and senior members of his administration.

https://www.shafaq.com/en/World/Israel-warns-US-of-alleged-Iranian-assassination-plot-targeting-Trump

Oil Advances As Middle East Tensions Support Prices

2026-07-10 03:37 Shafaq News Oil prices edged higher on Friday and were set for weekly gains because of renewed fears of supply disruptions from the key Middle East producing region after renewed fighting between the U.S. and Iran this week curtailed shipping in the Strait of ‌Hormuz.

Brent futures were up 4 cents, or 0.05%, at $76.34 a barrel by 0319 GMT. U.S. West Texas Intermediate (WTI) crude gained 7 cents, or 0.10%, to $72.15.

For the week, Brent was set for a gain of about 6% and WTI was headed for about a 5% increase.

"Prices have backed off the mid-week highs, but there is still a substantial risk premium as Hormuz transits are back to a near-standstill with no ⁠clear signs on when normal reopening might resume," said Vandana Hari, founder of oil market analysis provider Vanda Insights.

"However, it looks like market confidence in the U.S. and Iran returning to diplomacy to resolve the issue is capping the upside," Hari added.

Iranian armed forces launched attacks on U.S. military infrastructure in Gulf states on Thursday following U.S. strikes on Iran's southern coastal and eastern provinces, further straining a three-week-old ceasefire. Separately, Iranian media reported multiple explosions across southern Iran, including Bushehr, where one of the country's nuclear plants is located.

The renewed fighting came the day that Iran buried its slain supreme leader, Ayatollah Ali Khamenei, the culmination of a ‌week of ⁠mass funeral processions and rallies. Khamenei was killed on the first day of the war on February 28.

The renewed fighting has delayed the full reopening of the Strait of Hormuz, which carried about 20% of daily global oil and gas supplies before the war.

Tanker traffic through the strait on Thursday was at a near standstill, according to ship-tracking data, as ⁠vessel owners assessed the risk from the latest strikes, which started after Iran hit a Qatari LNG ship exiting the waterway near Oman.

Still, U.S. President Donald Trump said on Wednesday he did not think the war would restart because of ⁠the new fighting and that "anything that happens is going to be over very quickly."

"Despite the U.S. ramping up attacks on military sites in Iran, the market drew some reassurance from the Trump administration’s decision to avoid ⁠targeting Iranian energy infrastructure," said Daniel Hynes, senior commodity strategist for ANZ bank.

"This was aided by comments from President Trump, who said he doesn’t expect a return to a full-scale conflict."

(REUTERS) https://www.shafaq.com/en/Economy/Oil-advances-as-Middle-East-tensions-support-prices

Gold Slips On Inflation Fears Tied To US-Iran Conflict

2026-07-10 01:16 Shafaq News Gold edged lower on Friday and was on track for a weekly fall on ‌concerns that escalating U.S.-Iran tensions could fuel inflation and keep the Federal Reserve on a hawkish monetary policy path.

Spot gold fell 0.2% to $4,113.29 per ounce by 0426 GMT and was headed for a 1.5% weekly decline. U.S. gold futures for August delivery fell 0.4% to $4,122.70.

"Gold is in consolidation mode today following yesterday's gains, with traders hesitant ⁠to commit to further upside amid the prevailing uncertainty over US-Iran relations," said Tim Waterer, chief market analyst at KCM Trade.

Oil prices were on track for a weekly gain as the U.S. and Iran continued to trade strikes, with Iranian armed forces launching attacks on U.S. military infrastructure in Gulf states on Thursday following U.S. strikes on Iran's southern coastal and eastern provinces.

The latest round of strikes has fuelled inflation concerns and reinforced the probability of the Fed raising rates this year.

Markets are pricing in a 63% chance of a September ‌rate ⁠hike, up from around 54% a week earlier, according to CME's FedWatch tool.

While gold is typically seen as a hedge against inflation, it loses its appeal as a non-yielding asset in a high-interest-rate environment.

"I expect gold will continue to attract buyers on dips as long as oil stays around current ⁠levels. However, any sharp spike in oil could reignite inflation and interest rate fears, which would be to gold's detriment," Waterer said.

Minutes of the Fed's June meeting, released earlier this week, showed growing ⁠concerns among policymakers about elevated inflation.

HSBC cut its average gold price forecasts for 2026 and 2027 on Thursday, citing a hawkish shift in U.S. monetary policy expectations and a stronger ⁠dollar.

Elsewhere, spot silver rose 0.6% to $60.34 per ounce, platinum gained 1.4% to $1,632.16 and palladium climbed 1.6% to $1,267.71. All three metals were on track for a weekly loss.

(REUTERS) https://www.shafaq.com/en/Economy/Gold-slips-on-inflation-fears-tied-to-US-Iran-conflict

Ports: Port Of Umm Qasr Initiates Transit Procedures For UAE Aid To Lebanon With Transit System

Money and business Economy News — Baghdad The Border Ports Authority announced on Friday the completion of the necessary procedures for the transit of trucks loaded with food coming from the United Arab Emirates to Lebanon through Iraqi territory with the transit system.

A spokesman for the Border Ports Authority, Aladdin Al-Qaisi, said that "in implementation of the directives of Prime Minister Ali Faleh Al-Zaidi and under the supervision of the head of the Border Ports Authority, Lieutenant General Omar Al-Waeli, the Directorate of the northern port of Umm Qasr has begun to complete all the necessary procedures for the passage of trucks loaded with food as humanitarian aid from the United Arab Emirates to the Republic of Lebanon."

He added that "the passage of these trucks is in accordance with the transit system through Iraqi territory to the Lebanese territory." https://www.economy-news.net/content.php?id=71176

Gold Is Heading For A Weekly Decline Amid Expectations Of A US Interest Rate Hike

Money and business Economy News - Follow-up Gold prices were little changed at the start of trading on Friday, as markets assessed the inflation risk caused by the latest military escalation between the United States and Iran and renewed expectations of a rise in interest rates prompted the metal that does not generate a return towards a weekly decline.

By 00:47 GMT, the spot price of gold had stabilized at $4122.09 an ounce, heading for a weekly loss of more than 1%. U.S. gold futures for August delivery fell 0.2 percent to $4,131.50.

Iran’s armed forces launched attacks on U.S. military infrastructure in Gulf countries on Thursday following U.S. strikes on coastal areas in southern and eastern Iran, putting more pressure on the ceasefire that was reached three weeks ago.

The latest round of strikes has fueled concerns about inflation and reinforced the prospect of the Federal Reserve raising U.S. interest rates this year.

According to C.C.'s Fed Watch tool. M. The markets see a 64% chance of a rate hike in September, compared to 54% a week ago.

The minutes of the Federal Reserve’s June meeting showed growing concerns among monetary policymakers about rising inflation, with a few saying interest rate hikes were warranted.

John Williams, chairman of the Federal Reserve Bank of New York, ruled out a sustained rise in energy prices for the rest of the year despite renewed hostilities in the Middle East.

The number of Americans filing for unemployment benefits fell last week, suggesting the labor market remained stable despite slowing job growth in June.

For other precious metals, spot silver fell 0.1% to $59.94 an ounce, platinum rose 0.2% to $1,614.22, and palladium rose 0.4% to $1,252.75. The three metals are heading for a weekly loss https://www.economy-news.net/content.php?id=71179

DINARRECAPS8 7/10/26 DINARRECAPS8 7/10/26

Seeds of Wisdom RV and Economics Updates Friday Morning 7-10-26

Good Morning Dinar Recaps

Fed Communication Review Signals Next Phase of Global Monetary Policy

The Federal Reserve's review of how it communicates future monetary policy, combined with support from the International Monetary Fund, highlights a growing shift in how central banks intend to guide markets during a period of elevated global uncertainty.

Good Morning Dinar Recaps

Fed Communication Review Signals Next Phase of Global Monetary Policy

Overview

The International Monetary Fund announced it will work with the Federal Reserve as the Fed reviews its monetary policy communications and forward guidance.
The review reflects a changing economic environment, where higher inflation and interest rates require central banks to reconsider how they communicate future policy decisions.
Financial markets are closely watching the outcome, as changes in Fed communication could influence interest rates, bond markets, currencies, and global capital flows.

Key Developments

1. IMF Backs Federal Reserve Policy Review

The International Monetary Fund said it looks forward to engaging with the Federal Reserve as officials evaluate how they communicate monetary policy. IMF officials noted that while forward guidance proved highly effective during years of near-zero interest rates, today's economic environment calls for a reassessment of that strategy.

2. Federal Reserve Reassesses Forward Guidance

The Federal Reserve plans to establish a task force to review how it signals future policy decisions. The objective is to improve transparency while ensuring communications remain effective during periods of persistent inflation and elevated interest rates.

3. Higher Inflation Has Changed the Policy Landscape

Unlike the years following the 2008 financial crisis, today's economy faces ongoing inflation pressures fueled by higher energy prices, geopolitical risks, and supply chain disruptions. These conditions make future policy decisions less predictable and require greater flexibility from central banks.

4. Markets Depend on Central Bank Communication

Investors rely heavily on Federal Reserve guidance when pricing stocks, bonds, currencies, and commodities. Even subtle changes in how policymakers communicate can influence borrowing costs, investment decisions, and financial market volatility worldwide.

5. Global Central Banks Continue Modernizing Policy Frameworks

The IMF indicated that many central banks are reviewing how they communicate with financial markets as economic conditions evolve. The effort reflects a broader modernization of global monetary policy during a period of increasing geopolitical and financial uncertainty.

Why It Matters

Clear communication from central banks is essential for financial stability. As inflation, geopolitical tensions, and economic uncertainty continue to reshape global markets, the way central banks communicate policy may become just as important as the policy decisions themselves.

Why It Matters to Foreign Currency Holders

Foreign currency holders should closely monitor changes in Federal Reserve policy communications. Expectations regarding interest rates directly affect exchange rates, capital flows, sovereign debt markets, and investor confidence around the world.

Implications for the Global Reset

Pillar 1 – Debt

Changes in Federal Reserve communication can significantly influence global borrowing costs, government debt financing, and capital markets, affecting both developed and emerging economies.

Pillar 4 – Technology

Modern central banking increasingly relies on advanced data analysis, digital communications, and more transparent policy frameworks to improve market stability and investor confidence.

This is not just about how the Federal Reserve communicates—it reflects the continuing evolution of global monetary policy as central banks adapt to a more complex and interconnected financial system.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

Reuters – IMF looks forward to engaging with Fed on its review of communications and forward guidance
International Monetary Fund –July 2026 World Economic Outlook Update: Global Economy in Crosscurrents of War and Technology

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🌱 A Message to Our Currency Holders🌱

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DINARRECAPS8 7/9/26 DINARRECAPS8 7/9/26

Iraq Economic News and Points To Ponder Thursday Evening 7-9-26

IMF Sees Iraq Contraction Before 2027 Rebound

2026-07-09 11:04 Shafaq News- Baghdad Middle East and Central Asia growth is projected to fall to 0.7% in 2026 before rebounding to 6.5% in 2027, with Iraq among the commodity producers expected to contract sharply this year, the International Monetary Fund said.

In its July World Economic Outlook update, the IMF grouped Iraq with Kuwait and Qatar as the producers most affected by disruptions to energy output and transport, linking the downturn to a longer closure of the Strait of Hormuz than it assumed in April.

IMF Sees Iraq Contraction Before 2027 Rebound

The Fund cut this year’s regional forecast by 1.2 percentage points and raised next year’s by 1.9 points, reflecting a deeper short-term hit and a larger expected rebound.

Saudi Arabia is expected to be less affected because of more diversified export routes, with growth projected at 1.7% in 2026 and 5.5% in 2027.

Globally, the IMF projected growth at 3.0% in 2026 and 3.4% in 2027, saying the outlook remains uneven and exposed to developments in the Middle East. https://www.shafaq.com/en/Economy/IMF-sees-Iraq-contraction-before-2027-rebound

Iraq detains Rafidain Bank officials over $1.22M fraud

2026-07-09 17:08 Shafaq News- Al-Diwaniyah A joint force from Iraq's Federal Commission of Integrity and a SWAT unit arrested several Rafidain Bank officials in the southern province of Al-Diwaniyah on Thursday over a suspected currency manipulation operation that authorities believe resulted in the embezzlement of about 1.6 billion Iraqi dinars ($1.22M), a source told Shafaq News.

The investigation uncovered the fraudulent replacement of banknotes originally denominated at 50,000 Iraqi dinars ($38.15) with 1,000-dinar notes, enabling the theft.

Authorities are continuing efforts to identify all those involved and recover the stolen funds.

https://www.shafaq.com/en/Economy/Iraq-detains-Rafidain-Bank-officials-over-1-22M-fraud

Iraq Signs Hamrin Oil Field Development Deal With US Firm

2026-07-09 08:16 Shafaq News- Baghdad Iraq’s state-owned North Oil Company (NOC) signed a contract on Thursday with US-based HKN Energy to develop the Hamrin oil field spanning Kirkuk and Saladin provinces, with peak crude production projected at 140,000 barrels.

Oil Minister Basim Mohammed Khudair Al-Abadi said the agreement supports the government’s strategy to maximize investment in the country’s oil and gas resources, meet domestic energy demand, and increase exports, noting that the project is also expected to produce 40 million cubic feet of associated gas per day (MMcf/d), which will supply the field’s operational needs, while surplus volumes will be reinjected to maintain reservoir pressure instead of being flared.

Al-Abadi also stressed the government’s efforts to attract major international energy companies, particularly from the United States and Europe, under internationally recognized standards. The project, he added, would generate jobs for Iraqi workers and create opportunities for local companies.

“The Ministry will provide support to the company, and signing the contract is a message to all international companies that the domestic investment environment is an attractive environment for investment.”

Hamrin is one of northern Iraq’s largest undeveloped oil fields. The Oil Ministry signed a memorandum of understanding with HKN Energy in mid-2025 to develop the field, initially targeting production of about 60,000 barrels per day while capturing associated gas for power generation.

https://www.shafaq.com/en/Economy/Iraq-signs-Hamrin-oil-field-development-deal-with-US-firm

Basrah Crudes Rise Following US Strikes On Iran

2026-07-09 02:30 Shafaq News- Basrah Iraq's Basrah crude rose more than 8% on Thursday, tracking gains in global oil prices after US strikes on Iran, according to oil price data reviewed by Shafaq News.

Basrah Heavy crude rose 8.49% to $49.22 per barrel, while Basrah Medium crude gained 8.11% to $51.32 per barrel.

Brent crude futures rose 86 cents, or 1.1%, to $78.88 a barrel by 0352 GMT, while US West Texas Intermediate crude futures gained 85 cents, or 1.2%, to $74.37 a barrel.

OPEC's basket also rose to $72.36 per barrel, while UAE's Murban crude gained 6.67% to $73.57 per barrel.

https://www.shafaq.com/en/Economy/Basrah-crudes-rise-following-US-strikes-on-Iran

Iran: US Attack Targeted Strategic Bridge Within Trade Route With China

Arab and International Economy News - Follow-up Iran’s Fars news agency reported on Thursday that nighttime U.S. attacks targeted a railway bridge in northern Iran, damaging an important trade link with China and Russia.

The agency said that this route, which passes through Turkmenistan and Kazakhstan, is an important land route to China, and its importance increased during the US blockade imposed this year on Iran's ports in the Gulf, while the agency "Maher" that the volume of Chinese shipments through this route has been increased three times.

According to Iranian agencies, Russia has also been using this route to transport goods to Iran since ⁠Late 2025.

The agency pointed out that "it is expected that the repairs of the bridge will be completed quickly.

Earlier today, the Iranian Revolutionary Guards confirmed that the United States launched a cruise missile attack this morning on the railway bridge "Ak Tiki Khan", a strategic part of the China-Turkmenistan-Iran railway corridor, located in the Akkala region of the northern border province of Golstan. The Revolutionary Guards vowed an "overwhelming" response to the attack.

Local authorities said the attack did not result in any injuries https://www.economy-news.net/content.php?id=71175

Revolutionary Guards Navy: Any US Intervention In Determining The Course Of Navigation In Hormuz Will Be Met With A "Decisive Response"

Arab and InternationalEconomy News - Follow-up Iran’s Revolutionary Guards Navy on Thursday threatened a “decisive response” if the United States intervened to determine the routes in the Strait of Hormuz.

The Navy said in a statement: The adventures of the US military will present the interests of the countries benefiting from the Strait of Hormuz to serious danger, and will seriously impede the gradual reopening of the Strait of Hormuz.

“Foreigners have no interest in the Strait of Hormuz

Iranian media reported on Thursday that explosions were heard in the coastal areas in the south of the country, while the Jordanian armed forces announced the response to Iranian missiles, while the Israeli authorities decided to close the airports after detecting air threats.

Iran's Mehr news agency said the explosions were in the territorial waters off the city of Bandar Abbas, and air defenses had been activated in the city.

Iranian state television reported the fall of a U.S. missile that targeted the vicinity of the Bushehr nuclear plant.

In addition, the Jordanian armed forces announced the shooting down of 8 missiles fired from Iran towards the Kingdom, stressing the readiness of its forces to deal with any threat to the country.

In turn, the Israeli authorities decided to close the airports after air threats were detected, and rockets penetrated Jordanian airspace adjacent to Israel https://www.economy-news.net/content.php?id=71173