By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions targeting networks involved in transporting and purchasing Iranian oil, including a group of companies led by Iraqi businessman Salim Ahmed Said. The U.S. alleges that Said's network smuggled Iranian oil disguised as, or blended with, Iraqi oil, […]
By John Lee. UAE-based venture capital fund EQIQ has announced a $3-million anchor investment in a new digital banking startup led by Iraqi-American finance veteran Hussain Qaragholi (pictured). The total $15-million funding round will support the launch and early growth of the next-generation, AI-driven platform. The new venture aims to transform Iraq's underdeveloped banking sector […]
By Noam Raydan and Devorah Margolin, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Redefining and Strengthening the U.S.-Iraq Relationship Through Energy and Security Iraq is more stable than it has been in decades but still […]
By Robert S. Ford for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq tries to assert state authority during crisis The Iraqi government has long navigated a path between maintaining political ties with its Iranian neighbor and Tehran's […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Q: Following your recent article on the Dinar Revaluation (RV) and Israeli Airstrikes on Iran, the situation in the region has progressed. What is your current assessment as it relates to the dinar […]
By Dr Renad Mansour, for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's fragile stability is threatened by a shifting Middle Eastern order For the first time in recent memory, Iraq has found itself on the margins of a major Middle […]
By John Lee. Colorado-based Vectrus Systems LLC [V2X] has been awarded a $118,020,690 cost-plus-fixed-fee undefinitized contract action, for base support services in support of the Iraq F-16 program. This contract provides for base operating support, base life support, and security services. Work will be performed at Martyr BG Ali Flaih Air Base (formerly Balad Air Base), […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi dollar smuggling 'turns regional' amid high Iranian demand for greenbacks Iraq has recently been riled by reports of a multi-billion dollar cash smuggling scheme allegedly orchestrated by Iran and its allies. Apparently […]
By John Lee. Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm. The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing […]
By John Lee. The Iraqi government has issued a strong condemnation of recent attacks on nuclear facilities in Iran, warning that such actions threaten regional and global security. In a statement released by government spokesman Basim Alawadi on Sunday, Iraq described the military escalation as a "grave threat to peace and security in the Middle […]
By John Lee. Iraq's Minister of Electricity, Ziyad Ali Fadhil, met with UK Ambassador Irfan Siddiq and a high-level delegation to discuss British companies' role in implementing solar energy projects and reaffirm Iraq's commitment to the Paris Climate Agreement. The delegation included Lara Hampshire, UK Director of Trade in Iraq, and Yasmin Khan, Director of […]
By John Lee. The Iraqi Drilling Company (IDC) is making steady progress on its project to drill 15 oil wells in the North Rumaila field, working in coordination with Halliburton and Basra Energy Company Limited (BECL). During a site visit to rig IDC 59, Khalid Abbas Ali, Head of the First Drilling and Workover Department, […]
