Search the Community

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. -Iraq & The US Affirm The Importance Of Strengthening & Developing Bilateral Relations. -The Yellow Metal Soars & Renews Its All-Time High. -World Gold Council: 29% Of Central Banks Plan To Purchase Gold By 2025. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Al-Mashhadani & The US Chargé d'Affaires Affirm The Importance Of Strengthening & Developing Bilateral Relations. ARTICLE: Speaker of Parliament Dr. Mahmoud Al-Mashhadani and the Chargé d'Affaires of the US Ambassador to Iraq Daniel Rubinstein stressed the importance of strengthening & developing bilateral relations. A statement by Al-Mashhadani's media office said that the Speaker of Parliament received today the Chargé d'Affaires of the US Ambassador to Iraq Daniel Rubinstein, who extended his congratulations to the Speaker of Parliament on the occasion of Eid Al-Fitr, wishing well for Muslims & Iraq on this occasion. According to the statement, the meeting dealt with emphasizing ways to strengthen & develop bilateral relations between the two countries in the political & economic files & developing investment to serve the interests of the two countries. The meeting also discussed the security situation and the importance of stability in Iraq & its reflection on the upcoming parliamentary elections, which the political blocs are preparing to participate in. -The Yellow Metal Soars & Renews Its All-Time High. The price of gold futures for June 2025 delivery on the Comex, a division of the NY Mercantile Exchange hit an all-time high on April 2, 2025. Data available from the trading platform indicates that the price of an ounce of gold has risen above $3,200. By 23:29 Moscow time on April 2, the price of gold had risen 1.12% to $3,201.6 per ounce. By 07:00 Moscow time on April 3, the price of gold had slowed to $3,171.5 per ounce (up 0.02%). Gold prices, a precious metal long considered a safe haven during times of economic and geopolitical instability, continue their steady upward trend, reaching new highs in the markets. Meanwhile, the price of Brent crude futures for June 2025 delivery on the London ICE Futures Exchange fell 0.12% to $73.28 per barrel. The price of West Texas Intermediate crude futures for May 2025 delivery fell 0.06% to $70.03 per barrel. -World Gold Council: 29% Of Central Banks Plan To Purchase Gold By 2025. The World Gold Council confirmed on Tuesday that 29% of countries' central banks intend to purchase the precious metal in 2025. The council said in a report seen by Shafaq News Agency that "29% of countries' central banks intend to purchase gold during the current year," noting that "the purchases are due to the desire to restore balance to a more strategic level in these reserves, financial market concerns, as well as the increased risks of crises & rising inflation." He added that "gold continues to attract the attention of central banks as a reserve asset," noting that "increasingly complex geopolitical & financial factors make managing gold reserves more important than ever." He pointed out that "central banks added 1,037 tons of gold in 2023, the second-highest annual purchases in history, after setting a record of 1,082 tons in 2022." Iraq has gold reserves of 162.7 tons, ranking 28th among countries with the highest reserves of the precious metal.

Here's some articles of Dinarian interests... -Couterfeit Currency & Unmarked Gold Dealers Busted In Iraq. -Geopolitical Controls Push Towards Shifting To Official Channels For Currency Trading. -A Boom In Investment In Gas & Raising Its Rate To 67%. -Iraq-Kurd-Turkey Pipeline Is Open For Business. Treat as rumors. Not verified. Your opine. KTFA via Clare: Counterfeit Currency & 'Unmarked' Gold Dealers Busted In Iraq. ARTICLE: The National Security Service announced, on Monday, the arrest of promoters of counterfeit currencies and traders of "unmarked" gold in Baghdad and the provinces of Dhi Qar & Diwaniyah. The agency said in a press statement received by Shafaq News Agency, "Two suspects were arrested in Baghdad in the Al-Baladiyat area, who were promoting counterfeit local & foreign currencies. 3,400 counterfeit USD in 100-Dollar bills were seized in their possession, in addition to various amounts of counterfeit Iraqi Dinars." He continued, " In Dhi Qar, an illegal commercial complex was raided for selling unmarked gold. It was found that its owner was offering usurious loans to citizens in exchange for seizing Key Cards and Master Cards. 122 cards, a gold piece, four seals, records of the dealers, electronic devices, & an amount of 12 million and 750 thousand Dinars were seized." He pointed out that "in Diwaniyah, the apparatus' detachments were able to overthrow a gang specializing in promoting counterfeit currency, where an ambush was set up for one of the gang members & two suspects (a man and a woman) were arrested red-handed while exchanging counterfeit money & an amount of 215 thousand counterfeit USD was seized in their possession, in addition to the vehicle they were riding in." -Clare: Geopolitical Controls Push Towards Shifting To Official Channels For Currency Trading; Mazhar Muhammad Salih, the financial advisor to the PM, confirmed that the geopolitical controls imposed on informal trade contribute to expanding dealings with official outlets for foreign currency, which contributes to financing foreign trade through the sound international financial system. He pointed out in his statement to {Euphrates News} that "this shift aims to move away from informal financing from the parallel Dollar market intensively, especially with the change in the behavior of small traders in avoiding the parallel market linked to the countries' regional & geopolitical problems." Saleh added that "this shift comes in the context of the importance of increasing Iraq's foreign reserves & confronting money smuggling operations, in addition to facilitating external transfer operations through Iraqi banks that deal with international banking correspondents, at an official ER of 1,320 Dinars per Dollar." He also stressed that the end of the compliance platform phase adopted by the CBI in the past two years & the country's entry into a new phase has contributed to providing great flexibility in financial transfers through official channels. Clare: Oil Minister: A Boom In Investment In Associated Gas & Raising Its Rates Tto 67%. Deputy PM for Energy Affairs & Minister of Oil Hayan Abdul-Ghani Al-Sawad received today, Monday, a German delegation that includes representatives of the German Embassy in Baghdad, the German Chamber of Commerce & companies specialized in various oil & non-oil fields. Abdul Ghani confirmed, in a statement from his office, a copy of which was received by {Euphrates News}, "Iraq is keen to cooperate with various parties, including German companies, which have a long history in the field of industry & are of high quality & acceptable in Iraq." He pointed out that "Iraq has made great strides in the field of developing the oil industry & in particular the optimal investment of gas, as Iraq has achieved, during the life of the government, a great leap in the field of investment in associated gas & raised investment rates from 53% to more than 67% & Iraq is determined to stop flaring gas & achieve self-sufficiency in 2028." Abdul Ghani explained that "the ministry has major projects in the gas investment sector, the most important of which is the gas development project in Basra with Total to invest 600 cubic meters in two phases, in addition to other projects in the field of gas field development, as the ministry signed contracts to develop the Mansouriya & Akkas fields & signed contracts to develop 14 fields & exploration areas, which were offered in the 5th & 6th supplementary licensing rounds." He added, "The ministry has investment opportunities for gas & oil exploration fields & blocks from the last licensing round that have not been referred. The ministry is working to develop them through investment projects with specialized international companies." German companies presented a review of their activities & offers to work and cooperate with the Ministry of Oil & its formations, in the fields of exploration, pipelines, laboratories, training & the provision of equipment, tools & supplies for oil facilities. -Clare: Iraq-Turkey Pipeline Reopening Pressures Oil Prices, Signals Potential Market Shift. ERBIL: Oil prices experienced volatility as news of the anticipated reopening of the Iraq-Turkey pipeline raised expectations of increased supply, despite Iraq’s ongoing commitment to OPEC+ production constraints, according to a report by Robin Mills, CEO at Qamar Energy, published in the Energy This Week newsletter on Monday. Mills noted that crude oil prices ended higher on Monday but dropped on Tuesday following reports that the Iraq-Turkey pipeline is set to resume operations. The country’s deputy oil minister, Bassem Mohammed, recently confirmed that 185,000 barrels per day (bpd) from the Kurdistan Region could be exported after domestic allocations are met. Before its closure in March 2023—following an arbitration ruling—the pipeline transported around 450,000 bpd. “The market is reacting to the possibility of higher supplies, but Iraq is still constrained by its OPEC+ commitments,” Mills stated. He added that while the pipeline’s reopening may put downward pressure on oil prices in the short term, long-term impacts will depend on Iraq’s ability to balance exports with production limits. Mills also highlighted the role of U.S. diplomatic efforts in pushing for the pipeline’s resumption. “Washington has been applying pressure on Baghdad to restart exports through the pipeline, which requires an agreement between the federal government & the Kurdistan Regional Government (KRG) on Budget Allocations & payments to int'l oil companies,” he explained. Meanwhile, British Petroleum (BP) has reinforced its presence in Iraq’s energy sector by finalizing a deal to redevelop the massive Kirkuk oil fields in the country’s north. Mills pointed out that BP, part of the original consortium that discovered Kirkuk’s oil in 1927, estimates the contract area contains up to 20 billion barrels of oil equivalent. “This redevelopment could help Iraq secure a higher production quota within OPEC+,” he noted. However, BP itself faces challenges, and Mills referenced recent discussions suggesting that a merger with Shell could strengthen the struggling British energy giant. Iraq’s Energy Sector & Geopolitical Pressures. Iraq, OPEC’s second-largest oil producer, has long grappled with balancing its production ambitions against OPEC+ output agreements. While Baghdad seeks to increase exports to boost revenue, it remains bound by cartel-imposed limits, a tension that has led to periodic disputes. Mills emphasized that the reopening of the Iraq-Turkey pipeline is particularly significant for the Kurdistan Region, which has faced financial strain since the shutdown. The U.S. has been actively working to counter Iran’s influence in Iraq, particularly following President Donald Trump’s return to office. By pressuring Baghdad to resume pipeline exports, Washington aims to strengthen its economic ties with Erbil while reducing Tehran’s leverage over Iraq’s energy sector. As Iraq navigates these complex political and economic dynamics, the coming months will be crucial in shaping the country’s energy strategy amid shifting global market conditions & geopolitical maneuvering.

Here's some articles of Dinarian interests... From the Sandbox: Report. We have contacted Trump & they want to develop relations with us. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Al-Sudani: We Have Contact With Trump's Team & They Want To Develop Relations With Us. ARTICLE: PM Mohammed Shia al-Sudani stressed: "Iraq's relations with the US are institutional according to the strategic framework agreement." Al-Sudani said in an interview with the Spanish newspaper El Mundo: "We have communication with Trump's team & they want to develop relations with us." Gold Falls On Dollar Strength. Gold prices fell on Thursday, pressured by the rise of the Dollar, amid anticipation of economic data indicating that the Federal Reserve (the US central bank) may follow a more cautious approach to interest rate cuts. Spot gold fell 0.3 percent to $ 2627.60 per ounce & US gold futures fell 0.5 percent to $ 2627.00. The Dollar index rose 0.1 percent, reducing the attractiveness of gold for holders of other currencies. As for other precious metals, silver fell about one percent to $ 29.78 per ounce, platinum 0.1 percent to $ 928.05, while palladium stabilized at $ 972.75. Oil Falls After US Gasoline Stocks Rise. Oil prices fell slightly in Asian trading on Thursday after a surprise jump in U.S. gasoline stocks ahead of the Thanksgiving holiday raised concerns about demand in the world's biggest fuel consumer. Brent crude futures were down 4 cents, or 0.1 percent, at $72.79 a barrel by 02:20 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 1 cent at $68.71 a barrel. Trading is expected to be light due to a holiday in the United States. The U.S. Energy Information Administration said Wednesday that gasoline stocks in the country rose by 3.3 million barrels in the week ending Nov. 22, contrary to expectations for a slight draw in fuel stocks ahead of the holiday season. Oil analysts had expected U.S. gasoline stocks to fall by 46,000 barrels last week, according to a Reuters poll ahead of the EIA report. OPEC+ members are discussing a further delay to a planned oil output increase that was due to start in January, two sources from the producer group told Reuters on Tuesday. The group is due to meet on Sunday to decide policy for the 1st months of 2025. Government Communication: All Institutions Are Required To Introduce Electronic Payment By July 2025. EThe Government Communication Team confirmed on Thursday that the number of institutions using electronic payment has increased to 780 & the number of payment cards has increased to 20 million, noting that the government’s plan stresses the obligation of all institutions to introduce electronic payment by July 2025. The head of the government communication team, Ammar Munim, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "there are about 780 institutions that have been converted to electronic payment & the number of electronic cards has increased from 14 million cards to 20 million cards, in addition to the amounts that were traded during the campaign reaching one & a half trillion Dinars." He added, "We have a set of measures that have allowed for an increase in the number of electronic cards & the number of ATMs & the conversion of institutions to electronic payment. The culture among citizens has been strengthened to use cards to transfer their money inside & outside Iraq electronically without any difficulty." He added, "The national campaign to support the electronic payment process encouraged citizens through simplified procedures from the government & it is an educational campaign." He stressed that "the government has taken important measures through which it has directed all institutions to develop a plan to move to electronic payment by the end of this year & for all institutions to enter the electronic payment process by the beginning of July of next year 2025." Central Bank Sales Rise To More Than $288 Million In Currency Auction Today. The CBI's Dollar sales increased to more than $ 288 million in the currency auction, compared to yesterday, Wednesday. The bank sold $ 288 million, 258 thousand and 12 in its auction today, covering it at a basic exchange rate of 1310 Dinars per Dollar for documentary credits & international settlements for electronic cards & at a rate of 1310 Dinars per Dollar for foreign transfers & at a rate of 1305 Dinars per Dollar in cash. Most of the Dollar sales went to strengthen balances abroad in the form of transfers & credits, which amounted to $ 275 million, 158 thousand & 12, up 95% from cash sales of $ 13 million & 100 thousand. The number of banks that purchased cash Dollars was one bank, while the number of banks that met requests to enhance balances abroad was 11 banks & the total number of exchange companies participating in the auction was 15 companies. Sudanese Advisor: The Government Has Taken Decisions That Grant Privileges To Investors. The PM's Advisor for Industry and Private Sector Development, Hamoudi Al-Lami, announced that the government has taken decisions to grant privileges to investors, while indicating that the facilities include granting tax exemptions. Al-Lami said in a speech at the Greek-Arab Economic Forum in Athens, that "Iraq, after the formation of the current government two years ago headed by PM Mohammed Shia Al-Sudani, had one of its priorities to support the industrial sector & the government has begun to implement this promise it made," noting that "the government has taken decisions, including activating Investment Law No. 13 of 2006, & additional amendments were made to it to grant more privileges to investors." He explained that "the government has taken decisions, including forming committees to grant incentives & privileges to investors & guarantees for investment," noting that "foreign investors have the right to lease industrial lands for a period of 50 years, renewable." Al-Lami explained that "Iraq has great opportunities for investment, especially after the security stability & the Arab brothers played a major role in activating various sectors in Iraq & they are now spread across all Iraqi governorates," stressing that "Iraq is now witnessing a renaissance in activating sectors & there are investment opportunities that were presented two months ago and will be followed by other opportunities that will be announced soon." He continued: "Iraq has a great wealth of minerals that exceeds its importance, oil, as oil is now suffering from some disturbances due to the political situation, the issue of the environment & carbon emissions," explaining that "Iraq has begun to invest in the great wealth of minerals as it has 10 billion tons of phosphate rocks that are used in the phosphate & phosphate fertilizer industry, which has become a great need due to the increasing demand for food that requires agriculture, which in turn needs fertilizers." He added that "any production of the phosphate industry is accompanied by uranium production & the investor can use the uranium to produce energy or sell it to power plants," noting that "the National Investment Law started with simple & specific investments in the construction sector & has now shifted to investing in the industrial sectors (chemical and petrochemical)." Al-Lami stated that "the investor obtains full tax exemptions for importing production line equipment & raw materials."

Here's some articles of Dinarian interests... US-Iraq relations at an all time low. Treat as rumors. Not verified. Your opine. MarkZ via PDK: This is a big one. ARTICLE: This is a big one& has got to have the US scrambling right now. “Al-Sudani confirms Iraq’s readiness to join the BRICS group” Why is this important? Iraq is signaling to the US they have a “PLAN B” that if they don’t let this go they can go without you. The US is holding billions of Iraqi Dollars & at some point they may just write those billions off so they can have freedom. I believe the US is now on a time schedule. They only have so much time left before Iraq joins the BRICS nations & no longer needs the US. To me this is a huge story. Pimpy: Iraq Is Still Under US Sanctions. I Said Several Times That Iraq Was On Sanctions. ARTICLE: They can’t do anything without the United States saying, ‘Hey it’s okay to do so.’ That included their budget. People like, ‘Pimpy doesn’t know what he’s talking about. Pimpy’s wrong. Blah blah, blah.’ Article: “What does the US federal reserve have to do with the federal budget?” Quote: “...US Federal Bank is behind the failure to release financial allocations in the budget…” Not that Iraq isn’t doing it – The US is holding this up…I told you these people can’t do anything without permission from the US… FROM OTHER SOURCES: Al-Shammari: America Punishes Iraq With Dollars To Topple The Government. ARTICLE: Member of the Popular Legal Movement, Ahmed Shahid Al-Shammari, confirmed today, Wednesday, that the US is punishing Iraq with Dollars for many reasons. Al-Shammari said in an interview with a news agency, “The continued rise of the Dollar is aimed at targeting Prime Minister Muhammad Shia’ al-Sudani & his government.” He added, “The Presidency of Parliament did not perform its real role in discussing the issue of the rise in the Dollar ER by hosting those concerned & developing appropriate solutions.” He pointed out that “the rise in the price of the Dollar on the black market has become a major concern among popular circles,” stressing that “the rise in the sale of the Dollar is intentional & the US stands behind it to target the Sudanese & his government.” Representative Hadi Al-Salami warned of the repercussions of losing control over the ER in the parallel market for the Dollar after it exceeded the barrier of 163 Dinars per 100 Dollars.