Chevron Signs Agreements for West Qurna 2, and Additional Fields
By John Lee. Preliminary principles agreements have been signed covering the transfer and development of several oil fields in southern and central Iraq. The first agreement was signed between Basra Oil Company (BOC) and US oil major Chevron for the transfer of management of the West Qurna 2 field. A second agreement was signed between […]
Iraq Deposits Maritime Zones Map; Kuwait Lodges Protest
By John Lee. The General Company for Ports of Iraq (GCPI) has confirmed that Iraq has formally deposited its maritime zones map and associated coordinates with the United Nations (UN), in a move aimed at consolidating its maritime rights and strengthening its legal position in boundary matters. Director General Dr Farhan Al-Fartousi said the deposit […]
Maliki Confirms PM Bid; Says Backs Civilian Govt
By John Lee. Nouri Al-Maliki (pictured), head of the State of Law Coalition, has confirmed that he will not withdraw his candidacy for the post of Prime Minister, in remarks to Agence France-Presse (AFP) on Monday. He said that any US messages are directed to the Iraqi state rather than to him personally, and rejected […]
Central Bank of Iraq Warns of Currency-Related Fraud Schemes
By John Lee. The Central Bank of Iraq (CBI) has warned citizens of fraudulent schemes involving counterfeit and non-circulating banknotes designed to defraud victims for financial gain. In a statement, the CBI outlined several common methods currently observed in Iraq: "$1,000,000" banknotes sold as legal tender, despite being commemorative notes with no monetary value. The […]
Iraqi Banks Restricted from US Dollar Transactions: FULL LIST [Amended]
By John Lee. [Editor's Note: On 26th February, the Central Bank updated the list of banks restricted from dealing in US dollars, apparently to correct an error, without making a new announcement. The list below has been updated accordingly.] The Central Bank of Iraq (CBI) has announced updated lists of banks and companies prohibited from […]
IPBL Renews Agreement with Frankfurt School of Finance
By John Lee. The Iraqi Private Banks League (IPBL) has renewed its joint cooperation agreement with the Frankfurt School of Finance & Management, in a strategic step aimed at strengthening professional integration between the Iraqi and German banking sectors and supporting institutional development in line with international best practices. The agreement was signed on behalf […]
Iraq wants Increased Business with Russia
By John Lee. Iraq's Ambassador to the Russian Federation, Abdul Karim Hashem Mustafa, met with Russian Deputy Foreign Minister for Economic Cooperation and Eurasian Integration, Alexander Anatolyevich Pankin (pictured), to discuss mechanisms for facilitating trade and enhancing investment cooperation between the two countries. According to the state-run Iraqi News Agency (INA), the meeting took place […]
Iraqi PM Pushes Sovereign Guarantees Initiative
By John Lee. Prime Minister Mohammed Shia' Al-Sudani chaired a special meeting on the Sovereign Guarantees Initiative, attended by the Minister of Finance, the Director General of Public Debt at the Ministry, the Head of the Sovereign Guarantees Committee, the President of the Trade Bank of Iraq (TBI), and a number of advisers. The meeting […]
UNDP to Support Iraq in Tackling Hazardous Pollutants
By John Lee. Iraq's Minister of Environment, Dr Helo Al-Askari, has signed an implementation agreement with the United Nations Development Programme (UNDP) to launch a multi-year project on the integrated management of persistent organic pollutants (POPs) and the assessment of chemically contaminated sites. The project will update Iraq's obligations under the Stockholm Convention on Persistent […]
Report: Migration, Governance and Local Resilience in Iraq
From the Berghof Foundation. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. From climate stress to social strain -- Migration, governance and local resilience in Iraq This research report examines how climate change, migration and social cohesion intersect across four climate-affected governorates in Iraq: […]
Iraq Launches Integrated Rubber Manufacturing Project
By John Lee. The State Company for Rubber Industries and Tires, one of the companies of the Ministry of Industry and Minerals, has signed a partnership contract with the private sector to establish an integrated industrial project for specialised rubber products. Director General Eng. Haider Nasser Dhaher said the project comprises three main production lines: […]
Belgium Allocates EUR 1.35m to De-Mining in Iraq and Syria
By John Lee. Belgium has contributed €1.35 million in 2025 to the United Nations Mine Action Service (UNMAS) to support humanitarian demining operations in Iraq and Syria. According to the Belgian Ministry of Foreign Affairs, the latest allocation brings Belgium's total investment in mine countermeasure initiatives in the two countries to more than €13 million […]