By John Lee. Iraqi Foreign Minister Fuad Hussein has called on the US Treasury Department to reconsider its recent imposition of sanctions on Iraqi banks. During a phone call from the US Secretary of State, Antony Blinken, Minister Hussein explained that these banks have, "an important and major role in financing ration card expenses and […]
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why Iraq's dinar is trading below official dollar rate amid new restrictions A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq's […]
By Bilal Wahab 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. Two Tough Scenarios for U.S.-Iraq Relations Washington's ever-narrowing Iraq policy has left it with unpalatable choices, but muddling through is a better short-term option than […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Why a US withdrawal from Iraq is off the table An important letter was delivered to Iraqi Foreign Minister Fuad Hussein last week. In a Jan. 24 meeting, US Ambassador Alina […]
By John Lee. The US Treasury Department has sanctioned Iraq's Al-Huda Bank, and its owner and Chairman, Hamad al-Moussawi. On Monday, the Department's Financial Crimes Enforcement Network (FinCEN) said the bank, "serves as a conduit for terrorist financing, as a foreign financial institution of primary money laundering concern." Along with its finding, FinCEN proposed imposing […]
By John Lee. US President Joe Biden has announced his intent to nominate Tracey Ann Jacobson (pictured) as Ambassador to Iraq. If approved by the Senate, Ms Jacobson will take over the role from Alina L. Romanowski, who has served in the post since June 2022. In a statement from The White House, Tracey Jacobson […]
By John Lee. The National Energy Services Reunited Corp. (NESR) has announced the inauguration of its flagship 'Carbon Light' oilfield brine plant in North Rumaila. The project and opening ceremony were conducted with Basra Energy Company (BECL), the company set up on 2021 to operate the Rumaila Operating Organization (ROO). According to a statement from […]
By John Lee. The United States has imposed sanctions on the Iraqi airline Fly Baghdad, and on its CEO, Basheer Abdulkadhim Alwan al-Shabbani. In a statement on Monday, the Department of the Treasury's Office of Foreign Assets Control (OFAC) said the airline, "provid[ed] assistance to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its proxy […]
By John Lee. Canada's Shamaran Petroleum and US's HKN Energy are to aquire Abu Dhabi National Energy Company (TAQA)'s interest in the Atrush oilfield in Iraqi Kurdistan. In a regulatory statement on Monday, TAQA said: "... Abu Dhabi National Energy Company PJSC ("TAQA") has, through its wholly-owned subsidiary, TAQA International BV, entered into definitive agreements […]
By Abbas Kadhim for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's prime minister is sending mixed messages on whether US forces should withdraw or not The coming months will reveal whether the Iraqi government intends to uphold the […]
By John Lee. In Davos, Iraqi Prime Minister Mohammed Shia Al-Sudani met with Mr. Khaled Haballah, the Regional CEO of J.P. Morgan (JPMorgan Chase) for the Middle East and North Africa. The meeting focused on exploring cooperation opportunities in financial areas, including opening accounts for Iraqi banks. Discussions also touched upon the potential participation of […]
By John Lee. The Iraqi Ministry of Foreign Affairs has summoned the Iraqi Ambassador to Tehran, Naseer Abdul Mohsen Abdullah Al-Karawi, for consultations, following missile attacks by Iran's Islamic Revolutionary Guard Corps (IRGC) on targets in Erbil overnight. The attacks causing several deaths and injuries. In a statement, the Prime Minister of the Kurdistan Regional […]
