Newspaper: 3 main obstacles preventing the revival of the Iranian nuclear deal

[yota691]

The Iraqi dinar pays the price of the Iranian-American conflict

The Iraqi dinar continues to collapse against the dollar, reaching its lowest level in 20 years, due to restrictions imposed by the United States on financial transfers to block the flow of money from Iran to its proxies in the region.

Sunday 01/15/2023

 

 

The crisis of the rising dollar raises Iraqi fears

BAGHDAD - The Iraqi dinar pays the price of an American-Iranian conflict in the Iraqi arena, while the local exchange rate crisis against the dollar appears to be the latest episode in this conflict due to US restrictions on Iraqi banks to besiege the outlets for the flow of funds from Iran to its agents in the region, which are measures described by Tehran and the parties and militias loyal to it and affiliated with it. The Popular Mobilization Brigade, as an American conspiracy.

For about two months, the exchange rate of the Iraqi dinar has been witnessing a continuous decline against the dollar, which experts explain by Iraq starting to comply with international procedures related to financial transfers in hard currency, while parties in the country attribute it to the US-Iranian conflict, warning against starving the Iraqi people.

The Iraqi currency lost about 10 percent of its value, and the price of the dinar in the market declined since mid-November to 1,600 dinars, before settling at about 1,570.

The Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance reached 1450 dinars, while the selling price to banks was set at 1460 dinars per dollar, while the selling price to the citizen was set at 1470 dinars per dollar.  

This decline began to raise Iraqi fears of the deterioration of their purchasing power in a country that relies heavily on imported materials from neighboring countries, the United States and China to supply its markets with its needs, so the high dollar exchange rate constitutes a real dilemma for merchants and citizens alike.

"The fundamental and fundamental reason for this decline is an external constraint," said Adviser to the Prime Minister for Financial Affairs, Mazhar Salih, to "Agence France Presse," but some Iraqi politicians accuse the United States of engineering a scheme to strike their country's currency.

Hadi al-Amiri, head of the Al-Fateh Alliance representing the Popular Mobilization Forces, which includes pro-Iranian factions affiliated with the state, accused the Americans in a statement on Tuesday of exerting "pressure on Iraq to prevent its opening to Europe and the countries of the world," stressing that "the Americans use the dollar as a weapon to starve people."

As for the economist Ahmed Tabakishli, he believes that "contrary to rumors and misinformation, there is no evidence of American pressure on Iraq."

He added that the dinar's fluctuation is due to Iraq's compliance with some standards of the international transfer system (Swift), which Iraqi banks must apply since mid-November to access Iraq's dollar reserves in the United States.

And he continued, "In order for Iraq to be able to access those reserves, which amount to $ 100 billion, it must currently comply with systems that require compliance with the provisions of global anti-money laundering and the provisions of combating the financing of terrorism and those related to sanctions, such as those applied to Iran and Russia."

 He said, "The matter is related to Iraq's entry into a global financial transfer system that requires a high degree of transparency, but this caused shock to many Iraqi banks because they are not accustomed to this system."

Mazhar Salih explained that Iraqi banks should now record their "transfers in dollars on an electronic platform, and the US Federal Reserve will examine them, and if they have doubts, they will stop the transfer."

And the Federal Reserve refused since the implementation of the restrictions, 80 percent of requests for remittances to Iraqi banks because of doubts about the final destination of those amounts that are being transferred.

This refusal had repercussions on the supply of dollars in the Iraqi market, as demand accumulated, but the supply was not consistent with it, and thus the exchange rate declined with the decrease in bank transfers in dollars.

Last Friday, the Iranian ambassador to Baghdad, Muhammad Kazem Al Sadiq, denied accusations that his country was behind the collapse of the Iraqi dinar, stressing that it "supports Iraq despite the efforts of some parties to distort the facts and mislead public opinion on the issue of the rise in the price of the US dollar in Iraq."

He said on his Twitter account, "The Islamic Republic will remain the first supporter of Iraq's development, stability and progress, despite being subjected to false accusations aimed at diverting public opinion from the main cause of the dollar price crisis."

And the Central Bank of Iraq announced in a statement last Tuesday the return of the exchange rate to what it was within two weeks, describing the dollar price turmoil as a "temporary situation."

The Iraqi authorities have taken a package of measures, including facilitating the financing of private sector trade in dollars through Iraqi banks and opening outlets for selling foreign currency in government banks to the public for travel purposes.

The Council of Ministers also decided to "commit all government agencies to sell all goods and services inside Iraq in dinars and at the central bank rate of 1470 dinars to one dollar."

Mazhar Salih believes that "these measures are important because they show that the state is there to protect the market and the citizen and help to address the problem."

Despite the dinar's decline, the inflation rate is still small, reaching 5.3 percent at an annual rate in October 2022. However, actual concerns relate to a decline in the purchasing power of Iraqis during the coming period, in light of expectations that the dollar will rise to the level of 2000 Iraqi dinars.

The retired Saad Al-Taie, who helps his son run a small shop in the Karrada neighborhood in Baghdad, began to feel the impact of exchange rate fluctuations on his purchasing power, and said, "This fluctuation that occurs is a real problem for the merchant who sells in retail and for the consumer."

He added, "The Iraqis have limited salaries and receive them in Iraqi dinars. As a retired person, I receive 494 thousand dinars. When the dollar was 1470, the value of my salary was 336 dollars. Today, at the exchange rate of 1570, my salary becomes 314 dollars."

The decline in the value of the Iraqi dinar against the dollar and its treatment after that, and then its decline again, is nothing but a repetition of an old game that began under the government of Nuri al-Maliki between 2006 and 2014 and continues to this day through a group of private banks that are under the management of party and militia leaders and work for Iran and make speculations And transfers go to Iran directly through its banks in Iraq, and some money goes to Jordan and Turkey, before it leaks to other international banks, by taking advantage of the currency sale window that the Central Bank of Iraq opens, as well as the facilities it provides to companies and other private banks to obtain hundreds of millions of dollars. dollars per day.

The private banks that arose after the US invasion of Iraq became one of the biggest phenomena in Iraq. Although there is no real economic justification for it, currency trading has become a sufficient justification for its activities.

What is happening now is that the Central Bank sold dollars at a price of 1450 dinars for one dollar, so the price of the dinar decreased to about 1750 dinars, and it will return to buy fewer dollars at the new price. Thus, tens of millions of profits are made daily, in an endless cycle that was created specifically to transfer money to Iran as " The biggest speculator.

[yota691]

Despite The Sanctions, Iran's Revenues From Oil Exports Jump 360%

01/15/2023

2414

Earth News / The Iranian government announced today, Sunday, that it recorded a significant increase in revenues from oil and its products exports during the first 8 months of the Iranian year, which ends in March , despite US sanctions.

 

Economy Minister Ehsan Khandozi told state television that revenues from exporting oil and its derivatives during the first eight months of the current Iranian year increased by 361 percent compared to the same period last year.

 

The Energy Information Administration of the US Department of Energy stated earlier that Iran's total revenues from oil exports during the first seven months of last year were estimated at $ 34 billion.

According to the Iranian news agency “ IRNA ” , Iran’s oil production amounted to 2 . 566 million barrels per day in the third quarter of 2022 , so that Iran ranks fifth in oil production within the “ OPEC ” countries, after Saudi Arabia, Iraq, the Emirates and Kuwait.

 

These high revenues came despite the US sanctions on Tehran, but they also come thanks to the significant rise in oil prices in the past year.

 

Tehran's efforts, mediated by Europe, have failed over the past months to reach an agreement with Washington to lift sanctions and undermine the nuclear program.

 

On the other hand, the National Oil Company in Iran announced, yesterday, Saturday, that it had set a record in extracting sour gas, with an average of about 990 million cubic meters per day.

 

Mohsen Khojesteh Mehr, Executive Director of the National Iranian Oil Company, said, " The daily average of sour gas extraction from independent and joint fields and associated gas units amounted to 990 million cubic meters .

 

[yota691]

 

[yota691]

What is Washington's strategy to confront it?

A German report reveals the 'secrets' of the Iranian drone industry

2023.01.15 - 14:27

 

Baghdad - people  

Despite the imposition of many sanctions and restrictions by the United States and its allies on the Iranian military march program, it has progressed greatly, as revealed by the war in Ukraine, according to a report published by the "DW" website. What is Washington's strategy to confront it in the future?  

  

  

  

Following is the text of the report :  

The United States has been disrupting the Iranian drone program recently through a series of economic sanctions and export restrictions, to limit its access to other countries in light of Russia's reported use of these drones in its war with Ukraine, but have Washington's efforts succeeded in limiting this program? ?  

  

In this context, researcher Eric Loeb, a non-resident researcher in the Iran Program at the Middle East Institute and associate professor of politics and international relations at Florida International University, and retired Colonel Edward Riel who works on advanced technologies, sensors and sensor processing in Northern California, says in a report. On January 6, the US Treasury Department imposed sanctions on members of the executive board of the Quds Aerospace Industries Organization, an Iranian defense company established by Iran's Islamic Revolutionary Guard Corps in 1985.  

  

The organization designs and manufactures "Muhajer-6" medium-range reconnaissance and combat drones, which were supposed to have been transferred to Russia in the summer. Last September, it was reported that Russia used Mohajer-6 to coordinate an attack on the Ukrainian port of Odessa, contradicting Tehran's denials of supplying Moscow with drones after the invasion of Ukraine.  

  

The Quds Organization has been sanctioned by the US Treasury's Office of Foreign Assets Control since December 2013. The US government may also increase sanctions against officials of Iran Aircraft Industries, which produces the Shahed-136 suicide drone. Which Russia renamed "Neighbours-2" and featured heavily in the war in Ukraine.  

  

Since last September, Russia has deployed Shahed-136 and Jiran-2 in waves of drone and missile strikes, paralyzing Ukraine's vital infrastructure and terrorizing its civilian population. Like Al-Quds, the plane maker has been sanctioned by the US, EU and UK for more than a decade.  

  

outstanding player  

For years, the United States has sanctioned Iran's military-industrial complex and manufacturing base, including such entities as the Quds Organization, Aircraft Industries, Fajr Aerospace and Vehicle Industries, Iranian Helicopter support system" rel="">support and Refurbishment Industries, and Iranian Aircraft Industries, to name a few.  

  

However, Iran's aviation sector and drone industry continued to expand and flourish. Western sanctions could not prevent Iran from becoming a prominent player in the military drone market and sharing drone technology with partners and agents inside and outside the Middle East.  

  

Iran has manufactured and operated military drones since the Iran-Iraq war in the mid-1980s. With more than thirty-three examples, Iran's highly advanced military drone complex forms one of the four pillars of its security strategy and force structure, complementing missile technology, proxy forces, and electronic warfare.  

  

asymmetric feature  

The drones have increasingly offered Iran an asymmetric advantage, realizing it cannot compete with the region's more modern air forces, even as it tries to acquire Su-35 fighter jets from Russia in exchange for drones, missiles and aid. other military.  

  

Iranian drones are cheaper than their Western counterparts and have proven effective on the battlefield, whether against local and regional insurgents or American assets and allies in and around the Gulf.  

  

Drones have also enabled Iran to project its power and gain profits, display technology and enhance its prestige, strengthen alliances, and influence conflicts in the Middle East and beyond. To this end, Iran has delivered drones, their designs, components, and training to its partners and proxies in Iraq, Lebanon, and Yemen, as well as to foreign governments such as Ethiopia, Russia, Sudan, Syria, and Venezuela, transactions facilitated by the end of the UN arms embargo on Iran in October 2020.  

  

And in May 2022, Iranian Major General Mohammad Bagheri held a ribbon-cutting ceremony for a new Iranian drone factory in Tajikistan, its first drone production facility abroad. On October 18, as Russia continued to deploy Shahed-136 and Jiran-2 against Ukrainian infrastructure and civilians, Major General Yahya Safavi, a senior military aide to Iranian Supreme Leader Ali Khamenei, said that 22 countries want to buy Iranian drones.  

  

So far, Iran has refrained from providing Russia with longer-range and more deadly drones and missiles, such as the Arash-2 suicide drone and the Fateh-110 and Zulfiqar short-range ballistic missiles.  

  

With this move, Tehran seeks to avoid exposure to re-imposition of sanctions under UN Security Council Resolution 2231 until a key provision expires in October 2023. Meanwhile, in the port city of Bandar Abbas, the Revolutionary Guards Navy has contracted a construction complex. Iranian ships and maritime industries to convert the Shahid Mahdavi container ship into an aircraft carrier.  

  

In addition to increasing sanctions against Iran, Washington intends to impose restrictions on exports and pressure private companies to disrupt the technological supply chain related to the manufacture of drones in Tehran. The plans were announced after reports emerged that the Shahed 136 was being manufactured with US and British components.  

  

These components not only complicate Iran's path towards independent production and self-sufficiency, but also demonstrate its extraordinary ability to bypass sanctions. As with Western sanctions, further export controls and corporate pressure are unlikely to significantly reduce Iran's access to these components.  

  

economic and financial measures?  

The Iranian leadership takes a whole-of-government approach and uses all available tools, from regime elites studying in universities abroad to cyberespionage, to access the latest technology. Iran may have difficulty accessing or establishing complex communications technology. However, it can still easily purchase a Texas Instruments electronic signal transceiver chip of the type that Ukrainian forces discovered inside the downed Shahed-136, especially from China's unregulated big-tech market.  

  

Given the difficulty, if not the impossibility, of disrupting Iran's drone program through economic sanctions and export controls, the United States would do well to adopt a new strategy. Such a strategy would seek to use an innovative and comprehensive approach to break the endless cycle of US sanctions imposition and sanctions avoidance by Iran.  

  

Under this strategy, punitive economic and financial measures will be part of a broader set of policy tools to achieve a nationwide support system" rel="">support effect.  

[yota691]

Agency: Iran sets a record for gas extraction

Economie| 11:52 - 01/14/2023

 

 

 

 

Baghdad - Mawazine News
The National Oil Company in Iran announced that it had recorded a record extraction of sour gas, with an average of about 990 million cubic meters per day.
Mohsen Khojesteh Mehr, Executive Director of the National Iranian Oil Company, said, "The daily average of sour gas extraction from independent and joint fields and associated gas with 'NG L' units has reached 990 million cubic meters."
He explained during his chairmanship of the Working Group on Sustainable Fuel Insurance for the current winter season today, according to the Iranian news agency "Fares", that "the volume of Iran's extraction from the South Pars field shared with Qatar is currently 705 million cubic meters, and from the oil company's facilities in the central regions 200 million cubic meters, In addition to about 9 million meters of the "NGL" plant in the southern oil regions, and new wells that have entered the operational phase.
He pointed out that "the gas that is currently consumed in the country is from the stocks of 8 previous months, and therefore we do not face any problems in providing it."

[6ly410]

Installing sonar devices on external roads between Iraqi provinces to prevent dollar smuggling - Urgent

Posted 19 seconds ago

 

Installing sonar devices on external roads between Iraqi provinces to prevent dollar smuggling - Urgent - Iraq News (iraqakhbar-com.translate.goog)t

 

News Source /Baghdad Today

 

Baghdad Today - Baghdad

The Interior Ministry announced on Saturday the installation of sonar devices on external roads between Iraqi provinces to prevent dollar smuggling.

The Interior Ministry said in a statement received by Baghdad Today that it "started, in coordination with the Kurdistan Regional Government, to install sonar devices on external roads linking the Iraqi provinces."

She added, "The sonar is a monument to monitor cases of foreign currency smuggling and hold speculators accountable under the law."

[6ly410]

The Ministry of Interior begins installing sonar devices on external roads to monitor dollar smuggling

•  Time : 2023/01/21 23:19:19
•  
• The Ministry of Interior begins installing sonar devices on external roads to monitor currency smuggling - Al-Furat News (alforatnews.iq)

  

{Umniah: Euphrates News} The Ministry of Interior announced, on Saturday, the installation of sonar devices on external roads between Iraqi provinces to prevent dollar smuggling.

Media said in a statement received by {Euphrates News} that it "started, in coordination with the Kurdistan Regional Government, to install sonar devices on external roads linking the Iraqi provinces."

She added, "The sonar is a monument to monitor cases of foreign currency smuggling and hold speculators accountable under the law.

[6ly410]

The Iraqi Interior Ministry begins installing sonar devices to detect dollar smuggling

The Iraqi Interior Ministry begins installing sonar devices to detect dollar smuggling (shafaq.com)

2023-01-21 12:59

 

 

Shafaq News / The Iraqi Ministry of Interior, in coordination with the Kurdistan Regional Government, began on Saturday to install sonar devices to detect dollar smuggling.

A brief statement received by Shafaq News Agency said that "the Ministry of Interior, in coordination with the Kurdistan Regional Government of Iraq, began installing sonar devices on external roads linking the provinces to monitor cases of foreign currency smuggling and hold speculators accountable under the law."

 

 

According to a security source, on Saturday, the force of economic security conducted, this morning, a security exercise in the stock exchanges of struggle and Harithia in Baghdad, to search for gangs trading to raise the price of currency and monopoly, indicating that the force arrested a number of owners of exchange offices.

The source explained that the raid was punctuated by a hit-and-run operation by the owners of exchange offices and their employees, denying any armed clash, as quoted by some communication sites.

[southbeach]

Lovin it

[3n1]

dang... nice piece of equipment but the pessimist in me says will the operator take bribes .. cheers 

 

 

 

[Half Crazy Runner]

2 hours ago, 3n1 said:

dang... nice piece of equipment but the pessimist in me says will the operator take bribes .. cheers 

 

 

 

Good point. 

[6ly410]

Kurdistan Customs: Great tightening on the region's ports to prevent dollar smuggling

 

Customs Kurdistan: Great tightening on the ports of the region to prevent the smuggling of dollars » Baghdad Today News Agency

Localities | Today, 23:28 | 

    

 

Baghdad Today - Erbil

The director of the Kurdistan Customs, Samal Abdul Rahman, denied on Sunday the existence of smuggling of hard currency to Turkey.

Abdul Rahman said in an interview with Baghdad Today that "the accusations leveled against the Kurdistan region that it is a corridor for smuggling dollars to other countries are completely untrue."

"There is a great tightening by all border crossings in the region to prevent the smuggling of dollars and hard currency, and those who try to do so are dealt with in accordance with the instructions of the Iraqi government and the regional government," he said.

[NEPatriotsFan1]

On 1/21/2023 at 3:50 PM, 6ly410 said:

The Ministry of Interior begins installing sonar devices on external roads to monitor dollar smuggling

•  Time : 2023/01/21 23:19:19
•  
• The Ministry of Interior begins installing sonar devices on external roads to monitor currency smuggling - Al-Furat News (alforatnews.iq)

  

{Umniah: Euphrates News} The Ministry of Interior announced, on Saturday, the installation of sonar devices on external roads between Iraqi provinces to prevent dollar smuggling.

Media said in a statement received by {Euphrates News} that it "started, in coordination with the Kurdistan Regional Government, to install sonar devices on external roads linking the Iraqi provinces."

She added, "The sonar is a monument to monitor cases of foreign currency smuggling and hold speculators accountable under the law.

They’re telling us this is for dollars but it may do Dinar too? If they know it’s going to be worth more they maybe trying to stop Dinar smuggling as well, but as main stream reporting does not tell us the whole story…. Just a thought

[Wiljor]

1 hour ago, NEPatriotsFan1 said:

They’re telling us this is for dollars but it may do Dinar too? If they know it’s going to be worth more they maybe trying to stop Dinar smuggling as well, but as main stream reporting does not tell us the whole story…. Just a thought

I’m good with that thought 😎

[6ly410]

Iran proposes banking deal to Iraq: 'Let's make US measures futile'

IQ News

Iran proposes banking deal to Iraq: 'Let's make US measures futile'

•  35 minutes ago
  
   
  He added that "America meets in various ways with countries that have problems with it, including the American currency, which Washington uses as a tool to create problems for countries. "It has been using this tool against Iran for years and now it is using it against Iraq."
   
  "The United States is using different strategies to continue its hostility with Iran," he said. "The only solution to neutralize this strategy is to conclude an agreement between the Central Bank of Iran and its Iraqi counterpart to overcome this obstacle in the best way through the use of dinars instead of dollars, and we must reduce the cost of buying Iranian goods for competitors so that the market of this country is not easily available to competitors," he said.

An Iranian official proposed on Monday a banking agreement between Iraq and Iran that would make dealing between them in riyals and dinars instead of dollars "to make US measures (related to the US currency) ineffective."

The official Iranian news agency IRNA quoted the head of the Iran-Iraq Joint Chamber of Commerce, Yahya al-Ishaq, as saying: "In the event of a banking agreement between Iran and Iraq for financial exchange using the riyal and dinar instead of the dollar, the US banking procedures in Iraq will become ineffective."

[screwball]

the control would end...i expect this to happen

[3n1]

hey if thats the plan to de dollarize get the show on the road one and the same anyways ... 

[yota691]

Report: Al-Sudani uses the "elite forces" to stop dollar smuggling to Iran

2023.01.24 - 08:59

 

Baghdad - Nas  

Under pressure from Washington to stop the flow of dollars to Iran, the Iraqi prime minister called on elite counter-terrorism forces, more accustomed to fighting "Islamic militants", to tackle merchants smuggling currency into the Islamic Republic, according to a report by Al-Hurra.  

  

 

  

  

The report, which was followed by "NAS", (January 24, 2023), said: The raids that took place in Baghdad, on Saturday, represent an early test for Prime Minister Muhammad al-Sudani, who took office in October after more than a year of political paralysis, and he must now take a very sensitive diplomatic path. .  

  

And approved the Federal Reserve (Central Bank of America) in New York stricter controls on international transactions in dollars for Iraqi commercial banks in November.  

  

The move aims to stem the illegal flow of dollars to Iran and put more pressure, along with US sanctions over Tehran's nuclear program and other disputes, making it difficult for Tehran to obtain dollars.  

  

Representative Aqil Al-Fatlawi accused Washington of deliberately using the new regulations as a political weapon.  

  

"The Americans are using strict instructions on dollar conversions as warning messages to the Sudanese Prime Minister (Mohammed) to keep him in line with American interests. 'Acting against us may lead to the overthrow of your government'. This is the American message," he said.  

  

A senior banking official said the United States had sent a clear message to Iraqi officials: Either stick to the new regulations or the CBI will face fines.  

  

Al-Sudani relies on Washington's continued goodwill to ensure that his country's oil revenues and finances are not subject to American scrutiny, and he also needs Washington's help in fighting the Islamic State.  

  

But he came to power with the support of powerful militias backed by Tehran, and thus cannot afford to antagonize Iran.  

  

Baghdad-based political analyst Ahmed Yunis said, “The Sudanese prime minister (Mohammed) faces a complex challenge of how to balance policies with two of each other's staunchest enemies Washington and Tehran, both countries friends of Iraq at the same time, without taking sides. It's a task. It is very difficult, and the Sudanese are walking on a tightrope.”  

  

smuggling networks  

  

The Islamic Republic needs dollars to stabilize its ailing economy, which has been hit hard by US sanctions imposed since 2018 after then-US President Donald Trump announced the withdrawal from Tehran's nuclear deal with six world powers.  

  

Iran's volatile currency has lost about 30 percent of its value since nationwide protests followed the death of 22-year-old Iranian Kurdish Mahsa Amini on September 16, further isolating the country.  

  

The religious establishment has for years used front companies from Iraq to Turkey to obtain the dollars it needs for international transactions and to fund its agents across the Middle East.  

  

Two advisers to private Iraqi banks who regularly attend meetings with the central bank, who spoke on condition of anonymity, said Iran receives about $100 million a month from Iraqi traders.  

  

Iraqi security officials under the prime minister's administration reported that they had "compelling evidence" that smugglers were buying large quantities of dollars from the currency markets in Baghdad and smuggling them through border crossings into Iran, particularly since mid-January.  

  

A colonel in the Iraqi border police at the Shalamja crossing near the city of Basra in the south said that dozens of smugglers buy dollars from the currency markets in Baghdad and use school bags to transport them before packing them in four-wheel drive cars to the border, under the protection of armed guards.  

  

Economic price  

  

Under the new restrictions, Iraqi banks must use an online platform to disclose their transactions and details about the sender and recipients. US officials can intercept suspicious transfer requests.  

  

Nabil Al-Marsoumi, an economics professor at Basra University, said the new system has slowed down dollar transactions.  

  

Banking officials said anti-smuggling measures had also left a hole in public finances. Banks that were reluctant to register on the electronic platform resorted to free markets in Baghdad to buy dollars, which created a deficit, as demand exceeded supply.  

  

At the same time, the price of consumer goods has increased and the value of the Iraqi currency has diminished.  

  

This deepened anti-US sentiment among politicians in Iraq, which remains unstable after nearly 20 years of US-led war that toppled Saddam Hussein.  

  

Trader Jumaa al-Hilfi said the transfer of dollars to Iran and its ally Syria, which is affected by sanctions, also affected Iraq's currency.  

  

The value of the dollar when selling was 1470 Iraqi dinars before the new transportation restrictions set by the Federal Reserve, and the dinar fell in December at 1620 dinars against the dollar before the restrictions began to be applied at the beginning of the week.  

  

And the official news agency said, on Monday, that the Iraqi Prime Minister relieved the governor of the Central Bank of his post after the decline in the value of the dinar. The agency added that Mustafa Ghaleb Makhaif told the prime minister that he no longer wanted to remain in office.  

  

The prime minister tried to reassure Iraqis that the dinar and the economy would be safe from US restrictions and regulations.  

  

Al-Sudani said in one of the events, on Saturday, "We have taken a number of bold decisions to support and stabilize the Iraqi dinar, and we warn those who try to exploit the crisis."  

  

Hadi Ali, an account manager at a private bank in Baghdad, expressed his skepticism about that.  

  

"Following the new American conditions means that we will have to wait for long periods of time to be allowed to transfer. This is harmful to our interests... Almost all dollar transfers end up reaching parties linked to Iranian interests. This is not a secret," he said.  

[yota691]

Reuters: The Iraqi Prime Minister assigned "combating terrorism" to stop the smuggling of millions of dollars to Iran

55 minutes ago

 

 

The Iraqi Prime Minister, Muhammad Shia al-Sudani, assigned the Special Anti-Terrorism Forces to combat the smuggling of dollars to Iran. Today, Wednesday, January 25, Iraqis gathered in front of the Central Bank to protest against the new wave of price hikes and the deteriorating economic conditions.

Reuters news agency referred to the raids carried out by the Special Forces to combat terrorism, last Saturday, in Baghdad to combat smuggling operations, and wrote that these raids are the first test for the Iraqi Prime Minister, Muhammad Shia Al-Sudani, who has been in power since October (October). After more than a year of political crisis in Iraq.

Two advisers to private Iraqi banks who regularly attend meetings of the Central Bank of Iraq, and spoke on condition of anonymity, told Reuters that the Iranian regime receives about $100 million a month from Iraqi businessmen.

Security officials under the Iraqi prime minister's command told this news agency that there is "clear evidence" that smugglers have been buying large quantities of dollars from Baghdad's foreign exchange markets since mid-January and smuggling them into Iran through border crossings.

A colonel in the Iraqi border police at the "Shalamja" crossing near the city of Basra, in the south of the country, said that dozens of smugglers buy dollars from the currency markets in Baghdad, and use school bags to carry them, then fill them in cars and cross the border under the protection of the armed men.

Reuters said that unidentified gunmen targeted Iraqi forces in their attack last Saturday on Kaifah Street in central Baghdad, one of the three main currency markets in the city.

Earlier, The Wall Street Journal reported in a report that the intensification of pressure on the Iranian regime led to the depreciation of the Iraqi currency, and since the Federal Bank of New York implemented strict supervision in November to deal with the smuggling of dollars to Iran, more than 80% of Iraqi bank transfers.

And "Reuters" confirmed that this action by the New York Federal Reserve aims to stop the illegal transfer of dollars to Iran, and to put more pressure on the Islamic Republic's regime.

Aqil Fatlawi, a Shiite MP, told Reuters that the Americans are using the strict restrictions on dollar exchange as a warning message to the Iraqi prime minister to "preserve American interests," and that "acting against us may lead to the overthrow of your government."

A senior Iraqi banking official told Reuters that the United States had sent a clear message to Iraqi officials to "commit to the new rules, otherwise the Central Bank of Iraq will face fines."

Reuters confirmed that the Iraqi prime minister needs a relationship with the United States to ensure his country's oil and financial revenues, as well as to fight ISIS militants.

However, this news agency added that Al-Sudani came to power with the support of the Iranian-backed militias, and therefore he cannot distance the Iranian regime from him.

Baghdad-based political analyst Ahmed Younis told Reuters that the Iraqi prime minister is facing a serious challenge in this regard.

America's pressure on Iraq to prevent smuggled currency from being sent to Iran comes at a time when Tehran has faced a crisis in recent months due to the high price of the dollar, and the value of the Iranian national currency has declined significantly during this period.

The US pressure on Iraq comes at a time when Robert Malley, the US special envoy for Iran, announced in an interview with Bloomberg TV that Washington will increase pressure on China with the aim of stopping the import of Iranian oil.

According to Mali, China is the main destination for Iran's illegal oil exports, and negotiations will intensify to dissuade Beijing from buying Iranian oil.

According to international media reports, Iran's exports of crude oil and refined oil products have increased in recent months, and most of Iran's oil appears to go to China, the world's largest oil importer.

Earlier, there was speculation that the United States would welcome an increase in Iranian oil exports in order to maintain prices in the current situation caused by the war in Ukraine.

[Bama Girl]

On 1/24/2023 at 7:04 AM, yota691 said:

 

Two advisers to private Iraqi banks who regularly attend meetings of the Central Bank of Iraq, and spoke on condition of anonymity, told Reuters that the Iranian regime receives about $100 million a month from Iraqi businessmen.
That’s a lot of money 

 

“But he came to power with the support system" rel="">support of powerful militias backed by Tehran, and thus cannot afford to antagonize Iran.”  

I had no idea. No wonder he feels a lot of pressure! 
 

 

 

 

[6ly410]

US calls on Iraq to abide by its sanctions against Iran and prevent the transfer of dollars

 US calls on Iraq to abide by its sanctions against Iran and prevent the transfer of dollars - Iraq News (iraqakhbar-com.translate.goog)

 

 

Baghdad - Iraq Today:

US State Department spokesman Ned Price confirmed the continued implementation of US sanctions on Iran, noting that the United States looks forward to the commitment of its partners to these sanctions.

This came during a press conference, regarding the concerns of the United States about the transfer of dollars from Iraq to Iran, and whether his country has taken action against the Central Bank of Iraq.

In his response, Ned Price stressed that his country considers Iraq a "partner" and is in constant contact with partner governments and the private sector, to inform them of the scope of their sanctions and to "ensure that governments and companies around the world comply." with these sanctions."

According to US media, the US Federal Reserve has reduced electronic transfers to Iraq by 80%, as a result of some Iraqi commercial banks sending dollars to Iran and other countries subject to US sanctions.

 

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Washington surprised Baghdad with dollar restrictions. Dutch network talks about "deliberate" US targeting of Iraq

Washington surprised Baghdad with dollar restrictions. Dutch network talks about "deliberate" US targeting of Iraq » Baghdad Today News Agency

 

Economy | Today, 12:57 | 

    

 

 

Baghdad Today - Translation

The Dutch FNAK Chronicles network confirmed on Friday that Iraq does not suffer from any actual financial crisis within its economy, which enjoys the highest growth rate in its history, reaching 9.2% during the past year, in addition to a large financial treasury of more than a hundred billion US dollars, revealing that the country is being "targeted."

The network said during its report, which was translated by (Baghdad Today), that "the community, the World Bank, specialists and analysts did not expect at all what the situation of the Iraqi economy will be now, given the data of growth and development of the great witnessed last year, unlike the economies of the rest of the countries of the region, which were subjected to contraction or decline, where the Iraqi treasury revived and local markets developed until they were targeted by the United States.

She added that "the United States shocked everyone by imposing restrictions targeting the Iraqi economy in an attempt to apply the sanctions imposed on other countries through Iraq, the most important of which is Iran," stressing that "given the large financial treasury, Iraq can meet its domestic need of the dollar for twenty months without any action or trade in the event that the current treasury is used in New York only, which the United States prevents," as she put it.

According to the report, the network pointed to "the need for the government to take the necessary measures to prevent the continuation of the beneficiaries of the dollar trade outside the framework of its authority from manipulating prices, in addition to switching to the electronic banking system and reducing bureaucratic procedures to reduce the severity of the crisis, which it said caused a "reduction in the purchasing power of the citizen" significantly, calling for "urgent reform of the situation with the US government."

 

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Al-Fateh: America is the main player in raising the dollar and is pressuring the government to implement its agendas

• Today 13:35

Information / Baghdad.. 

A member of the Al-Fateh Alliance, Ali Al-Fatlawi, confirmed that America, through the Federal Bank, is seeking to impose restrictions on Iraqi revenues obtained from oil money, pointing out that Washington is trying, by controlling oil revenues, to put pressure on the government to achieve certain agendas. 

Al-Fatlawi told Al-Maalouma, "The coordination framework holds its meetings in the presence of Prime Minister Muhammad Shia'a Al-Sudani in order to find solutions to problems, the most prominent of which is related to the rise in the exchange rate of the dollar in the local markets, especially after it recorded a significant gradual increase." 

He added, "America is the main player in any rise and fall of the dollar's exchange rate, whether in Iraq or in the region, especially since the Federal Bank controls Iraq's money and oil revenues." 

And he indicated that "Washington does not seek to release Iraq's money, but it imposed restrictions on it with the aim of raising the exchange rate in order to put pressure on the Sudanese government to achieve its demands and the demands of its allies and pass its agenda in the country." ended 25 n

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Iran uses gas as a weapon'

Report: New restrictions to reduce dollar transfers failed to curb smuggling

2023.02.01 - 10:14

 

Baghdad - people  

The restrictions that the US Federal Reserve tried to impose on the circulation of the dollar in Iraq failed, and official banks returned to pumping dollars into the markets and handing them over to branches of banks dealing with Iran, according to a report by the London-based Al-Arab newspaper, while the Prime Minister announced the formation of specialized security teams in Ports, roads, and installation of sonar to detect money,” stressing, “They are serious about procedures for detecting smuggled money.”  

  

  

  

The newspaper (February 1, 2023) quoted observers as saying that the restrictions intended to reduce cash transfers of dollars, to limit them to Iraqi domestic needs, failed to limit dollar smuggling operations to Iran. Iran also deliberately cut off gas supplies to Iraq to force it to transfer its value in cash.  

  

And she added: The Iraqi Bank returned to opening the exchange window by offering more than 100 million dollars a day to banks that deal with Iran, and companies that import goods from Iran.  

  

The dollar offers witnessed a noticeable variation, according to the paper quantities of dollars that reach Iraq from the United States. For example, the Central Bank of Iraq offered about $ 219 million on the fifteenth of January 2023, while it offered more than $ 73 million the next day, and $61 million the day after, but he returned to offering nearly $100 million in the following days when cash transfers from the United States stabilized.  

  

Iraqi oil revenues are registered with the US Federal Reserve, and most Iraqi commercial dealings with abroad are facilitated electronically under its direct supervision, in order for the United States to ensure that no official transfers reach Iran or Syria, within the framework of the sanctions imposed on them, but many local banks in Iraq , which buys dollars (mostly cash) from the central bank, then transfers them to Iran in cash, which is an act of smuggling and money laundering.  

  

The London newspaper stated that the current government is trying to deal with US restrictions in more diverse ways than it has been familiar so far, including buying securities and reselling them in exchange for direct cash transfers, and implementing oil sales contracts either in exchange for those papers or by selling through smuggling to obtain banknotes as well. Iran does the same.  

  

Intra-trade (about $9 billion annually) is one of the most important means of smuggling dollars into Iran. Companies close to the influential authorities in Iraq import most of the goods that are offered in the Iraqi markets from Iran, so that their revenues will be transferred to Iran in the end. These are acts that seem “legitimate” from a legal point of view, but this trade is a major tributary for providing the dollar to Tehran.  

  

The newspaper added that the pressure exerted by the Federal Reserve Bank on cash transfers during the past weeks did not convince Iran that Iraq is actually unable to pay the gas bill, so it decided to cut gas supplies completely, which caused a decrease in the rates of electric power production at a rate of 7,500 megawatts, including 4,500 megawatts in Baghdad, and that is out of a total of 24 megawatts consumed by Iraq, but the Iranian side used the pretext of carrying out maintenance work on the pipelines.  

  

For his part, Prime Minister Mohamed Shiaa al-Sudani pledged to return the dollar to its official rate and combat all forms of smuggling.  

  

Al-Sudani said, in an interview conducted with him by colleague Karim Hammadi, followed by “NAS” (January 31, 2023), that “the reasons for fluctuations in the exchange rates of the dollar are due to the application of international standards and what is related to the relationship between the Iraqi central, the US federal government and the US treasury, or the so-called compliance standards.” And the transfer of money, and this is a memorandum signed with the Iraqi Central Bank two years ago.    

  

And he stated, "The smuggling of currency out of Iraq is a fait accompli and this has been a chronic problem for years," pointing out that "the smuggled money was coming out through forged bills."  

  

He pointed out that "we have formed security teams specialized in every place, whether at ports or roads, and we have installed sonar at the controls to detect money," stressing, "We are serious about procedures for detecting smuggled money."    

  

He continued, "Iraq's financial situation is at its best, and we have a balance, revenues, budget, and the ability to purchase any material."   

  

He said, "We will save the dollar and return it to its official price," noting that "a high-level delegation headed by the foreign minister will visit Washington on the seventh of February to discuss more than one file, including fluctuations in dollar prices."  

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Disclosure of 4 destinations for smuggling the Iraqi dollar through the currency auction

2023.02.02 - 12:11

 

Baghdad - people  

An advisor in the Prime Ministry revealed the destinations for smuggling the Iraqi dollar through the currency auction.  

  

  

  

In a report by the British newspaper “The Independent”, followed by “Nas”, (February 2, 2023), the advisor stated, “Over the years, large amounts of dollars have been transferred outside the country to Turkey, the United Arab Emirates, Jordan and Lebanon through” gray market trading, using invoices. Fake for expensive items.  

  

He explained that "inflated bills were used to launder dollars, most of which were sent to Iran and Syria, which are under US sanctions, which led to complaints from US officials."  

  

Tamkeen Abd Sarhan al-Hasnawi, Chairman of the Board of Directors of Mosul Bank and Senior Vice President of the Association of Iraqi Private Banks, said, according to the newspaper, that "in other cases, currency is smuggled across the land borders under the protection of armed groups that take a cut from the liquidity." He estimated that "up to 80% of the dollars sold at auction went to neighboring states."  

  

"Syria, Turkey and Iran were benefiting from the dollar auction in Iraq," he said.  

  

The newspaper added, “A spokesperson for the Federal Reserve in New York declined to discuss the specific actions taken with respect to Iraq. But the Fed said in a statement that it enforces a robust compliance regime for the accounts it maintains. This regime, the statement said, “evolves over time in response to new information, which we collect.” In a regular context to monitor transactions and events that may affect the account and in communication with other relevant US government agencies.  

  

Earlier, the newspaper revealed information about the American "conditions" for granting the dollar to Iraq.  

  

The newspaper said, "100 central bank employees have been trained by the US Federal Bank to use the new US electronic system so that the US Federal Reserve is aware of any movements in the dollar."    

  

And she pointed out that "with the implementation of the new system, 80 percent of the compound's requests and dollar transactions, which had previously been approved by the Central Bank of Iraq, were rejected."    

  

And she continued, "If the request is approved through the system, the dollar will be available within 15 days, while previously it was available within 2 to 3 days."    

  

The chairman of the board of directors of an Iraqi bank, according to the newspaper, said, "If the situation continues for another year, many Iraqi banks will declare bankruptcy."    

  

"There is no clear solution to this situation," he added.