Baghdad launches legal action against Kurdistan’s oil companies

IOCs summoned to appear in federal commercial court as Oil Ministry also signals international legal campaign against Kurdistan’s oil sector independence.

Iraqi federal oil and KRG political negotiating teams meet in Baghdad on April 11, 2022. (Source: Oil Ministry media office)

BEN VAN HEUVELEN, BEN LANDO, MOHAMMED HUSSEIN, RAWAZ TAHIR, ALI AL-AQILY, LIZZIE PORTER AND STAFF OF IRAQ OIL REPORT

THURSDAY, JUNE 2ND, 2022

     

Iraq’s Oil Ministry is initiating legal action against international oil companies operating in the Kurdistan region — part of an escalating effort to implement the Federal Supreme Court’s landmark decision to invalidate the Kurdistan Regional Government’s independent oil sector.

Multiple oil companies received a letter summoning them to appear at the Commercial Court in Baghdad on June 5, according to three Kurdistan-focused industry officials; and Alaa al-Yassiri, the director general of the federal Oil Ministry’s marketing company (SOMO), told Parliament on Tuesday that Baghdad is also planning to bring international lawsuits.

iraqoilreport.com

The new US ambassador to Iraq begins her duties after handing over her credentials

politicsIraqbreakingUS Ambassador

 2022-06-02 12:21A-AA+

Shafaq News/ The President of the Republic, Dr. Barham Salih, received today, Thursday, at Al-Salam Palace in Baghdad, the credentials of the new US ambassador to Iraq, Alina Romanowski.

According to a statement issued by the Presidency of the Republic, Saleh wished the ambassador “success and success in the performance of her work tasks and in a way that contributes to the consolidation of friendship and cooperation relations between the two countries.”

For her part, Ambassador Alina Romanowski expressed her happiness to work in Iraq, and the US commitment to supporting a secure, stable and prosperous Iraq for all citizens, and looking forward to strengthening the existing relations between the two countries in various fields.

And the American diplomat, Alina Romanowski, had said in previous statements that one of her priorities for her work, if she assumed the position, would be to strengthen independence and citizenship in Iraq, expressing her concern about the possibility of the re-emergence of ISIS in this country.

Romanowski was the US ambassador to Kuwait, and spent 40 years at the US State Department, the Department of Defense and the US Agency for International Development.

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Al-Kazemi to the US Ambassador: Iraq desires to cooperate to consolidate regional and international stability

2022/06/02 18:49

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  • Section : Iraq

Baghdad / Obelisk: Prime Minister Mustafa Al-Kadhimi received, on Thursday, June 2, 2022, the US ambassador to Iraq, Alina Romanowski and her accompanying delegation, on the occasion of the assumption of her new duties.

The media office of the Prime Minister stated in a statement received by Al-Masala that Al-Kazemi reiterated during the meeting that Iraq attaches great importance to developing relations with the United States of America in various fields for the common and long-term interest of the Iraqi and American peoples, and that this relationship can achieve more Progress while enhancing a common understanding of the two parties’ vision, and pursuing ways of wisdom and dialogue.

He expressed the Iraqi government’s desire to cooperate and work to consolidate regional and international stability, in a manner that enhances the horizon of economic advancement and sustainable development for the Iraqi people and all the peoples of the region.

During the meeting, they emphasized the continuation of security cooperation and coordination in the field of combating terrorism, and within the framework of training and advising the Iraqi security forces.

For her part, Ambassador Romanowski affirmed that the United States of America looks forward to closer cooperation with Iraq in various fields, especially the economic, cultural and educational fields.

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Central Bank sales exceed one billion dollars in a week..a financial expert explains

economyU.S. dollarbreakingcoin sale auctioncentral bank sales

 2022-06-02 05:10A-AA+

Shafaq News/ The Central Bank of Iraq’s sales of hard currency to the dollar this week amounted to more than one billion dollars, while a financial expert attributed the increase in sales to the increase in food prices globally. 

Shafak News Agency correspondent stated that the Central Bank sold during the current week for the five days in which the auction was opened, starting from Sunday to Thursday, one billion and 50 million and 736 thousand dollars, at a daily rate of 210 million and 147 thousand and 300 dollars, an increase of 23.76% over the week Past”. 

Our correspondent added that the highest dollar sales were on Monday, where sales amounted to 216 million and 196 thousand and 141 dollars, while the lowest sales were on Wednesday, when sales amounted to 203 million and 900 thousand dollars.

He pointed out that most of these sales went in the form of remittances abroad to finance foreign trade, while the selling price of the dollar transferred to bank accounts abroad, in addition to the cash sale, amounted to 1460 dinars per dollar.

The financial expert, Hilal Al-Tahan, said in an interview with Shafaq News Agency; “The increase in central bank sales, especially with regard to foreign remittances, is due to the rise in food prices globally, especially the basic ones, which have more than doubled.”

He added, “Traders started raising requests to purchase dollars through remittances to cover their imports with larger amounts than the previous amounts for importing these materials.”

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