The Central Bank of Iraq sells more than $894 million in three days
The Central Bank of Iraq witnessed total sales of hard currency exceeding $894 million in just three working days last week.
Shafaq News Agency correspondent explained that the Central Bank’s sales of the US dollar during the past week, during the three days in which the auction was opened, amounted to 894 million, 662 thousand, and 721 dollars, at a daily average of 298 million, 220 thousand, and 907 dollars.
These sales declined compared to the previous week, when total sales amounted to $1,434,982,505.
He added that the highest sales of the week were on Sunday, reaching $308,018,326, while Tuesday recorded the lowest sales of $287,810,781.
The correspondent pointed out that foreign remittance sales accounted for the largest proportion of total sales, amounting to 841 million, 712 thousand, and 721 dollars, representing 94% of total sales, while cash sales were only 52 million, 950 thousand dollars.
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Iraq exports more than 62 million barrels of crude oil and its derivatives to America
The US Energy Information Administration announced on Saturday that Iraq exported more than 62 million barrels of crude oil and its derivatives to the United States during 8 months of the current year 2024.
A schedule of the administration, which Shafaq News Agency reviewed, showed that Iraq’s exports of oil and its derivatives during 8 months of the current year amounted to 62 million and 901 thousand barrels.
She added that Iraq exported about 7 million and 984 thousand barrels of oil and its products during the month of August, down from 8 million and 868 thousand barrels in July.
The US Energy Information Administration stated that OPEC’s exports of crude oil and its products to America during the 8 months of the current year amounted to 310 million and 417 thousand barrels, with Saudi Arabia leading the highest rate of exports to America, amounting to 89 million and 729 thousand barrels during the same period of time.
Iraqi oil exports to the United States have increased significantly over recent years, with export figures reaching record levels in some months, due in part to Iraq’s ability to increase its oil production, as well as rising global demand for oil.
Oil trade relations between Iraq and the United States play an important role in strengthening economic relations between the two countries, and contribute to enhancing the stability of the global oil market and providing energy to the American and global economies.
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Census Operations Room: Iraq’s population is approaching 55 million people
The head of the population census operations room for the western regions of Anbar Governorate, Qatari Al-Samarmad, revealed today, Saturday, that the population of Iraq is approaching 55 million people.
Al-Samarmad said in a statement to Al-Maalouma Agency that “leaked information from the population census operations room revealed that the population of all Iraqi governorates, including the Kurdistan Region, reached about 55 million people, and the mobile unit is still working.”
He added that “the mobile teams have not finished their work yet, waiting for the census operations to be conducted on housing, furniture and competencies, and it is guaranteed that the census operations will continue until all sections of the population census are completed,” indicating that “initial estimates indicate that some governorates have achieved a significant increase in their population compared to past population ratios, which requires increasing their budgets according to the results of the population census.”
He added, “The process of counting the population of all Iraqi governorates is still ongoing and it is hoped that the census will be completed within the next few days.”
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Report reveals US pressure on Iraq to suspend Chinese agreement
A report by the American website The Diplomat, which specializes in political and economic affairs, revealed on Saturday that Iraq has effectively suspended the oil-for-infrastructure agreement it concluded with China worth $10 billion, as the ambitious project, which was initially established as part of the projects signed under the Belt and Road Initiative launched by Beijing in 2019.
The report, translated by Al-Maalouma Agency, stated that “Iraq’s $10 billion oil-for-infrastructure agreement with China has effectively been halted. The suspension of the agreement appears to stem from growing concerns within Iraq’s leadership about the long-term consequences of such deep reliance on foreign investment, especially in the context of increasing scrutiny of China’s global economic strategies by the United States and its Western allies.”
“The suspension is a pivotal moment for Iraq as it reassesses its role in the changing geopolitical landscape of the Middle East, highlighting the complex balance between economic necessity and strategic autonomy in an increasingly multipolar world,” he added.
“Far from being a mere bilateral issue, this development embodies the complex interplay of regional powers and global interests that characterizes contemporary Middle Eastern geopolitics,” he explained. “The pause represents a major shift in Iraq’s approach to international partnerships, reflects broader regional concerns about the long-term consequences of infrastructure-focused diplomacy, and underscores the delicate balance that Middle Eastern countries must maintain between leveraging foreign investment for domestic development and preserving their strategic autonomy.”
The report said, “This strategic pause illustrates the growing complexity of international relations in a region where historical Western influence intersects with emerging Eastern economic power. The pause illustrates how Middle Eastern states are developing a more nuanced approach to managing relations with global powers, moving from simple binary options to more complex diplomatic strategies as regional states seek to modernize their infrastructure while maintaining sovereignty. Iraq’s decision may serve as a model for how to deal with similar challenges in the future.”
“The origins of this strategic partnership date back to 2019, when Baghdad and Beijing formalized an agreement under China’s Belt and Road Initiative that would have secured $10 billion in Chinese financing for Iraq’s reconstruction efforts. The terms were clear but far-reaching: Iraq would provide China with 100,000 barrels of oil per day for 20 years in exchange for comprehensive infrastructure development, including vital transportation networks, educational institutions, health care facilities, and energy infrastructure,” he noted.
He stressed that “the United States is concerned about China’s growing influence in vital energy corridors, and Washington’s response to the growing Chinese presence in Iraq highlights the continued importance of traditional power politics in the region, where it maintains significant influence over Baghdad’s strategic decisions. This influence is reinforced by Iraq’s reliance on external financial support, with 40 percent of its annual budget coming from international loans, especially from institutions allied with the United States.”
