Samson: Iraq Exemption from US Sanctions on Iran Energy
8th November, 2018
Iraq Granted Exemption from US Sanctions on Iran’s Energy Exports
Iraq will continue to have access to the energy it needs from Iran to generate and supply electricity, Brian Hook, the special representative for Iran at the US State Department, said.
“Iraq has been granted an exemption” to the energy sanctions the US has re-imposed on Iran, Hook said Monday on a media conference call without providing details.
Iraq is still importing natural gas and electricity from neighboring Iran and has set up a bank account to process payments in Iraqi dinars, according to two Iraqi government officials, who asked not to be identified because they’re not authorized to speak to media, Bloomberg reported on Tuesday.
Iraq’s central bank officials said in August that the country’s economy is so closely linked to Iran that Baghdad would ask Washington for permission to ignore some US sanctions.
Iraq imports crucial supplies from its neighbor including gas for power stations. LINK
Samson: Abdul-Mahdi: We are facilitating investment procedures to develop the economy
7th November, 2018
Prime Minister Adel Abdul-Mahdi on Wednesday that the government is working to facilitate investment procedures to develop the economy.
“The Prime Minister received today, Mohammed bin Abdul Rahman bin Jassem Al-Thani, Deputy Prime Minister of Qatar and Minister of Foreign Affairs and his accompanying delegation, which included a group of ministers and advisers,” a statement from the office of Abdul Mahdi said.
He added that during the meeting, they discussed boosting bilateral cooperation in various sectors, especially in the economic sector, in addition to the situation in the region.
“The development of the economy, investment and job creation are priorities of our ministerial platform, and therefore we are working for good relations with countries and facilitating investment procedures that will contribute to the development of the economy,” he said.
He pointed out that “Iraq is recovering and moving forward after the victory over terrorism and dazzling the world and it is very important to provide the investment environment necessary to promote the reality of the country in all sectors.”
For his part, Mohammed bin Abdul Rahman Al Thani, on behalf of the Emir of the State of Qatar, an official invitation to Abdul Mahdi to visit Qatar.
“Iraq has emerged after its victory over terrorism, stronger and much more dependent on the next stage in economic and trade cooperation and in the field of energy and others,” he said. LINK
Samson: KUWAIT: Iraq is asking for $ 4.4 billion and must be paid in the future
8th November, 2018
The State of Kuwait announced on Thursday November 8, 2018, the remaining debts of the invasion of the former regime, stressing that Iraq has paid three installments during the current year.
“This year, Kuwait received three payments of $ 90 million each,” Al-Watan newspaper quoted Chairman of the Public Authority for Compensation Assessment Khaled Al-Mudhaf as saying at a meeting of the United Nations Compensation Commission in Geneva.
“The three payments were made in April, July and October, in accordance with the payment mechanism set out in decision 267 of 2009,” Mudhaf said.
Al-Mudhaf said that “these payments will be in favor of Kuwait about 4.4 billion dollars and should be paid in the future.” He added that “continuing to deposit in the Compensation Fund will bring everyone from the final completion of the Board of Directors and receive full compensation for Kuwait.” LINK
2Cents: Remember……this gas deal is tied into the deal between Iraq and Kuwait to resolve the remaining 4.4 billion debt……Upon conclusion of this deal, it is my opinion that the remaining Chapter VII sanction on Iraq will be moved to Chapter VI……IMO, this will only occur upon lifting of the program rate to a reality rate and will all occur in the same proximate time frame……We know from WS that this whole “gas deal” and associated “debt repayment deal” was done as far back as last year and I was intently following the UN monthly forecast at the time watching for evidence of the conclusion…..why has it not been signed????…..I have been watching for this……note, this article tells us why:
2Berds: The debt in the 2019 budget, the last sentence really caught my attention.
“The total amount of these benefits and repayments to Iraq about 15,324 billion Iraqi dinars, which means 12770 billion US dollars”.
That is almost 1:1
Samson: Iraq’s debts in the budget of 2019
“As a numerical table in the proposed budget bill 2019, it is clear to any follower that Iraq is drowning in its debts and the benefits of previous debts, which could reach the extent that it would lose more than 15% of its budget to repay these debts.
Without the rise of oil prices, It would have been possible that these debts and their payments take up to 70% of Iraq’s annual budget.” “If logic and fairness were the factor in Iraq, we would have reached a logical conviction to eradicate and eradicate all minds that have brought the country into this situation.”
…The total amount of these benefits and repayments to Iraq about 15,324 billion Iraqi dinars, which means 12770 billion US dollars. LINK
Courtesy of Dinar Guru:
Breitling : As far as the dinar goes, it looks so phenomenal, it truly does. We are in a very very good spot. And now we have an entire country pushing it…
Let me throw this out there just as a scenario…Let’s say Iran is not attached to the Iraqi dinar at all. Then it’s strictly oil prices. But Iran is attached to Iraq.
So what if they force a revaluation or decide to have a revaluation before the price per barrel goes down? That could happen…that’s why we live in a different world. That could happen with the relationship they have with Iran.
It would stabilize Iraq and Iran in that region if they added value to it. It would counter the sanctions…the language I’m hearing out of Iraq is that’s what’s coming down the road.
That’s what they’re negotiating. Now Iraq hasn’t bought into it yet but that’s what’s going on out there.