By Hayder Al-Shakeri for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Are new US financial restrictions on Iraq missing their target? The latest restrictions are a symptom of increased US-Iran tensions. But as Iraq's elite find ways around them, ordinary Iraqis […]
Writing in the Financial Times, Raya Jalabi says that attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet Click here to read the full article (subscription required)
From Arab Gulf States Institute in Washington (AGSIW). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq to Contain the Kurdish Opposition and Pay Its Debts to Iran in Emirati Dirhams Iraq will begin paying for its debts and imports from Iran in Emirati […]
By John Lee. The UN Security Council has removed the following individuals from its Sanctions List: Ayad Futayyih Khalifa Al-Rawi Chief Of Staff, Quds Force, 2001-2003; Former Governor of Baghdad and Ta'mim. IQi.030 Name: 1: AYAD 2: FUTAYYIH 3: KHALIFA 4: AL-RAWI Title: na Designation: na DOB: 1942 POB: Rawah, Iraq Good quality a.k.a.: na […]
US Allows Iraq to Release $500 Million in Iran's Blocked Assets The United States has allowed Iraq to release the Iranian blocked assets worth $500 million due to sanctions relief, an Iranian official said. The US has mandated Iraq to release $500 million in Iranian blocked assets, the secretary-general of Iran-Iraq Joint Chamber of Commerce […]
By Suadad al-Salhy for Middle East Eye. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Iraq caused a currency crisis by paying Iran in dinars Desperate to avoid power shortages, Kadhimi's government gave Iran billions of dinars. US sanctions however mean it […]
By John Lee. According to a report from the Wall Street Journal, Iraqis are blaming the slump in the value of the Iraqi dinar on a recent policy change by the U.S. Treasury Department and the Federal Reserve Bank of New York. It says the NY Fed began enforcing tighter controls on dollar transactions by […]
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated critical nodes of a key financial facilitation network of the Islamic State of Iraq and Syria (ISIS), which included four individuals and two entities in Türkiye, who have enabled the terrorist group's recruitment and financial transfers to and from […]
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has deleted the following Iraq-related entities from its Specially Designated Nationals (SDN) list: MIDCO FINANCE S.A. (a.k.a. MIDCO FINANCIAL S.A.; a.k.a. MONTANA MANAGEMENT INC.), 57 Rue du Rhone, Geneva CH-1204, Switzerland; Panama; US FEIN CH-660-0-469-982-0 (United States); Switzerland [IRAQ2]. MIDCO […]
By Elena Mataro for Argus Media. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The EU's ban on Russian seaborne crude imports has opened the door to an increased flow of sour Middle East grades into the Mediterranean. Iraq's Basrah grades have already […]
By John Lee. More than 100 representatives of leading Iraqi and Russian businesses took part in the Russian-Iraqi Business Forum in Moscow last week. According to a press release from The Chamber of Commerce and Industry of the Russian Federation, the Ambassador of Iraq in Moscow, Mr. Abdurakhman Al-Husseini, told delegates that Iraq is open […]
By John Lee. Mustafa Ghaleb Mokhif, the Governor of the Central Bank of Iraq (CBI) has met with the Russian Ambassador to Iraq, Elbrus Kutrashev, to discuss the payments due to Russian companies operating in Iraq. In a statement after the meeting, both parties expressed the need to find appropriate solutions to this issue. Payments […]
