KTFA: Samson: Russian Foreign Ministry: Moscow is working with the Middle East to move to a counterpart to “Swift”
2nd September, 2022
An official in the Russian Foreign Ministry revealed that Moscow is actively working with Middle Eastern countries on the transition to settlements in national currencies and the use of systems alternative to SWIFT for the transmission of financial information.
Sanctions imposed by Western countries affect to some extent Russia’s cooperation with traditional partners in the Middle East,” Alexander Kinchak, director of the Middle East and North Africa Department at the Russian Foreign Ministry, noted.
“All this fulfills the task of quickly adapting our economic cooperation with the Arab world to the changing economic reality, including through the transition to mutual settlements in national currencies,” he said, in statements reported by “Novosti” agency today, Friday.
He added: “A great help can be the use of a new system for the transmission of financial information based on the already existing Russian counterpart of SWIFT, which is not subject to anyone’s selfish interests and market preferences. Active work with our partners in the Middle East in this direction is already underway, and of course will continue.” LINK
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Samson: China Opposes The Decision Of The G7 Countries To Impose A Price Ceiling On Russian Oil
5th September, 2022
Chinese Foreign Ministry spokeswoman Mao Ning said that the Chinese authorities oppose the decision of the Group of Seven countries to impose a price ceiling on Russian oil and call for a modification of the position of the member states of the group.
She stressed at the press conference that “oil is of great importance in ensuring global energy security. We hope that the countries concerned will make constructive efforts and not the other way around,” noting that oil is one of the main raw materials in the international market.
Mao Ning added that under the current international situation, the G7 countries should “strengthen dialogue and push forward negotiations.”
The finance ministers of the Group of Seven had unanimously agreed on September 2 in Berlin to set a ceiling on the prices of oil and gas supplies from Russia, in order to reduce the income of the Russian Federation from its exports.
For its part, Moscow warned that the countries that join this resolution will not be able to buy oil from Russia. LINK
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Samson: Iraq Discusses Reforming Its Economy With Germany
4th September, 2022
The Minister of Finance, Ihsan Abdul-Jabbar Agency, received Sunday, the Ambassador of the Federal Republic of Germany to Iraq, Mr. Martin Jekar and his accompanying delegation.
According to a statement by the Ministry of Finance, received by Earth News, “during the meeting, they discussed the extent of joint cooperation between the two countries in various fields, especially economic and investment, and ways to develop bilateral relations to include broader horizons of partnership.”
The minister stressed “the Iraqi government’s aspiration to enhance cooperation by benefiting from German expertise in developing various development sectors in Iraq, praising the distinguished role of the German government and its great support for Iraq in various fields.”
For his part, Ambassador Yekar praised the level of cooperation between Iraq and Germany in various fields, stressing his country’s readiness to continue providing all kinds of support to the Iraqi government and the Iraqi people in the path of the Iraqi economic reform program and achieving sustainable development requirements.
On the other hand, Minister Ihsan Abdul-Jabbar met “the delegation of the German International Cooperation Agency, to discuss strengthening the public financial policy programs and the financial market in Iraq, where they exchanged views and the capabilities available to the two parties and common goals, taking into account the developments in the global arena that require more cooperation and strategic partnerships, and Requesting more technical details about all components of the project and discussing the development of project mechanisms to achieve maximum benefit for the ministry’s cadres and institutions.”
During the meeting, the German Agency for International Cooperation (GIZ) provided a “detailed explanation of the program for the development of public financial management and the financial market in Iraq, which is funded by the German Ministry of Economic Cooperation (BMZ) and the European Union (EU).”
The program includes “developing the capabilities of the Ministry of Finance in the field of public financial policy and budget building, tax and customs administration, comprehensive digital transformation, combating money laundering, financing the private sector and small businesses.” LINK
