Thurs. AM TNT News Articles 6-16-22



Iran announces receipt of 1.6 billion dollars from Iraq dues for exported gas

On Thursday, Iranian Oil Minister Javad Oji announced that Iran had received $1.6 billion in arrears for gas exports to Iraq.

“In light of active energy diplomacy, and after several months of negotiations, we received, hours ago, $1.6 billion in arrears due from past years for gas exports to Iraq,” Oji said in a tweet on Twitter.

He added, “Since the beginning of this year (as of March 21 last according to the Iranian calendar) compared to the same period last year, the country’s gas exports have increased by 25%, and the receipt of hard currency earnings from it has increased by 90%.”   link

Hundreds of protesters against poor services gather in Al-Haboubi )Square in central Nasiriyah (video

Hundreds of protesters gathered today, Thursday, against poor services, in .Al-Haboubi Square in the center of Nasiriyah

In the early hours of Thursday morning, Dhi Qar governorate witnessed a demonstration by dozens of Nasiriyah residents to demand appointment and improvement of their service .reality


And (Baghdad Today) published a video clip documenting the departure of dozens of graduates and earners from the people of Nasiriyah in a large demonstration, as they closed .the departments of Nasiriyah by welding their doors

While some of the graduates cut off the Olive Bridge in the center of Nasiriyah, the center of .Dhi Qar Governorate, to demand job opportunities for them

Thaer Al-Aboudi (one of the demonstration coordinators), told (Baghdad Today), “The demonstration continues until job opportunities are provided for graduates in the public or “.private sector, and that the protest methods will develop if our demands are not met

He added, “There are 1,000 grant contracts for the governorate, according to the Food Security Law approved by the House of Representatives. They must be granted to graduates “.first

The governor of Dhi Qar, Muhammad Hadi, had issued an order to all security forces in the .province to provide security and protection for these demonstrations

The governor of Dhi Qar directed the security forces not to interact with the .demonstrators, while ordering the closure of government departments in the city    link

Partnership of private banks with foreigners removes suspicions of money laundering


Nafeh Al Naji

Member of the Board of Directors of the Federation of Businessmen, Abdul Hassan Al-Ziyadi, who is in charge of the import file, called for the entry of Iraqi private banks in partnership with the branches of Turkish, Iranian and Chinese foreign banks, to reduce the waste of money in imports, and stave off suspicions of money laundering in the currency sale window, and contribute to adjusting the balance Iraq’s trade balance. 

The trade balance of any country is the result of the difference between the value of exports and imports during a certain period of time. If the value of imports exceeds exports, this means that there is a deficit, but if there is an increase in exports and a decrease in imports, then the country has a trade surplus.

Al-Ziyadi said in a statement to “Al-Sabah”: “The entry of Iraqi private banks into such a partnership will greatly reduce the amount of wasted amounts in the currency sale window established by the Central Bank, and encourage the activation of documentary credit and the ease of movement of funds and their transfer from the buyer merchant to  the seller”.

He added, “This process will support the volume of trade exchange between Iraq and those countries, because the goods imported from those countries are many and varied and have an active presence in the Iraqi market, and the provision of funds will enhance the establishment of a local industry and regulate the process of import.”

Al-Ziyadi considered that “the most important thing that this process will provide is the accurate data of the volume of imports and their real values, which removes suspicions of money laundering in this aspect, and gives credibility to the commercial dealings between Iraq and those countries, in addition to the fact that private banks have flexibility in transferring money away from the routine found in government banks, as well as granting the Central Bank freedom from the restrictions of the currency auction, and it also enhances the role of its control over the movement of funds, which contributes to the provision of immigrant funds, and makes the capital circulate locally”.

Dr. Mudar Abdullah from the National University of (Sawa) says, “The latest statistics and economic data indicate that the volume of trade exchange between Iraq and Iran has reached nearly nine billion and twenty-seven million dollars, while Iran’s exports to Iraq amounted to eight billion and twenty-two million dollars, while it imported from it at a value of eight billion and twenty-two million dollars. Only one billion and five million dollars.” 

He added, “China leads the countries exporting to Iraq, especially after Beijing concluded construction deals last year with Baghdad worth ten and a half billion dollars, while the values of trade exchange ranged between increase and decrease with a number of Arab and foreign countries such as Saudi Arabia, Jordan, Egypt, Syria, Lebanon, Turkey and others, with oil remaining As a key factor for exports 

Iraq.” Specialists stressed that the recent government decisions about extending zero customs duties on goods and commodities, canceling all decisions to protect the national product and banning imports, may lead in another way to an increase in imports at the expense of exports, especially since the past months did not reveal any significant decline in the prices of imported materials, which The industrialists and agriculturalists say that it greatly harmed their sectors and increased its stagnation.   link

Source: Dinar Recaps



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