By John Lee. On 27th March, the UK's Foreign, Commonwealth and Development Office (FCDO) added two Iraqi nationals to the UK Sanctions List, identifying them as having key roles in the financial operations of ISIL/ISIS/Daesh: Sami Jasim Muhammad Jaata al-Jaburi Abd el Hamid Salim Ibrahim Brukan al-Khatouni Click here to read full details. (Source: UK […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Payroll Cliff: Why the Dinar Can't Be Your Retirement Plan For two decades, promoters of the Iraqi dinar as an investment have pointed to the country's oil wealth and whispered of an […]
By John Lee. The World Bank has imposed a sanction of debarment with conditional release on the Turkish company Aktif Elektroteknik San ve Tic A.S. following findings of corrupt and fraudulent practices in Iraq. It said the company has been debarred for a minimum period of one year and three months. The firm may only be […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Iraqi Dinar Caught in the Crossfire: What a Trump-Iran Military Conflict Would Mean for Iraq's Currency The Middle East is once again on the edge. The United States has assembled its largest […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Foreign Ministry Reveals US Warning of Sanctions if Nouri al-Maliki Returns as Premier Iraq's Foreign Ministry revealed a US warning of possible sanctions if Nouri al-Maliki returns as prime minister, as divisions deepen […]
By John Lee. Energy Intelligence reports that Iraq's state-owned Basra Oil Company (BOC) has subcontracted management of the West Qurna-2 oil field to a consortium of Italian engineering firm Bonatti and local firm Hilal al-Basra [Crescent Basra]. West Qurna-2, operated by Lukoil under a service contract, is fully state-owned. Following recent US sanctions on Lukoil […]
By John Lee. Russia's Lukoil has signed an agreement with US investment company Carlyle for the sale of LUKOIL International GmbH, a wholly owned subsidiary that holds the its international assets. The agreement is non-exclusive and subject to regulatory approval, including permission from the US Department of the Treasury's Office of Foreign Assets Control (OFAC). Lukoil […]
By John Lee. How does the US control Iraq's oil revenues? Reuters has published an explainer, available via investing.com: Click here to view. (Sources: Reuters / Investing.com)
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. One Year of Trump: Iraqi Dinar Speculators Still Waiting for a Miracle That Will Never Come As Donald Trump marks his first anniversary back in the White House on 20th January, one group […]
By John Lee. The United States and Iraq have held discussions focused on banking reform, financial compliance, and measures to counter illicit financial activity. According to a statement by the United States Special Envoy to Iraq, Mark Savaya, the talks involved the U.S. Department of the Treasury and the Office of Foreign Assets Control (OFAC), […]
By Simon Watkins for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is Iraq About to Make Its Biggest Geopolitical Pivot in Years? Washington's escalation of sanctions on Russia's top oil firms has opened space for Western majors to re-enter Iraq. Click here […]
By John Lee. The Iraqi Embassy in Moscow has issued a clarification regarding reports that Iraq plans to nationalise the West Qurna-2 oil field, operated by Russia's Lukoil. The embassy confirmed that the field is fully state-owned. Under the 2008 licensing round agreement, Lukoil managed and developed the field and produced oil under a service […]
