[size=45]Will America be able to confiscate Iraqi reserves if Iraq coordinates with OPEC to increase oil prices?
28 minutes ago[/size]
28 minutes ago[/size]
[You must be registered and logged in to see this image.]
Muhammad Tawfiq Allawi
May 9, 2022
May 9, 2022
The most dangerous American law (NOPEC) facing oil-exporting countries, ending the financial abundance of producing countries due to the rise in oil prices, as a result of this law, which may become effective within a few weeks, and America will be the one who sets oil prices, as the law gives it the right to take measures Legal for the oil-exporting countries (OPEC) (OPEC) to raise oil prices depending on their monopolistic agreements within the framework of OPEC, and since most of the reserves of the world's countries, including Iraq, are in US dollars, meaning that they are in the US Federal Bank, the US judiciary, according to this law, gives the right to the US government To confiscate the money of any country if it moves in a monopolistic manner within the (OPEC) or (OPEC +) system to raise oil prices, as is the case now……….
But the good news is that the major American oil companies are against this law because it contradicts their interests, and the adoption of the law requires the approval of the President of the Republic, Biden, and perhaps he will not agree. A few weeks……
But the good news is that the major American oil companies are against this law because it contradicts their interests, and the adoption of the law requires the approval of the President of the Republic, Biden, and perhaps he will not agree. A few weeks……
Below is the translation of the news, as reported by Reuters on May 5, 2022,
Thursday, May 5, 2022.
Today, the US Senate Judiciary Committee approved a bill known as “No to Oil Production and Export Blocs” known as “NOPEC”, which would allow lawsuits to be filed in The United States is against the Organization of Petroleum Exporting Countries (OPEC) oil producers under antitrust laws for orchestrating supply cuts that raise global oil prices, which exposes members and partners to accountability.
The bill, which was approved by the committee after receiving 17 votes to four, needs to be passed in full by the Senate and House of Representatives, and then signed by President Joe Biden to become law.
If it becomes law, the US attorney general will be able to sue OPEC or its members, such as Saudi Arabia, in a federal court. It will also be able to sue other producers allied with "OPEC", such as Russia, who are working with the organization to reduce supplies within what is known as the "OPEC +" group.
A bill aims to protect US consumers and businesses from deliberate hikes in gasoline and heating oil prices, but some analysts warn that its implementation could have some unintended, dangerous repercussions.
The project is submitted by the two main parties and will introduce amendments to the American anti-monopoly law to abolish the sovereign immunity that protects “OPEC” and the national oil companies in its member states from lawsuits.
It was not clear how a federal court could enforce antitrust rulings on a foreign country. But several attempts to enact the "NOPEC" law over more than 20 years have alarmed Saudi Arabia, the de facto leader of OPEC, prompting it to exert strong pressure every time a copy of this law is presented.
The White House did not say whether Biden supported the bill, and it was not clear whether he had enough support in Congress to reach this stage.
Thursday, May 5, 2022.
Today, the US Senate Judiciary Committee approved a bill known as “No to Oil Production and Export Blocs” known as “NOPEC”, which would allow lawsuits to be filed in The United States is against the Organization of Petroleum Exporting Countries (OPEC) oil producers under antitrust laws for orchestrating supply cuts that raise global oil prices, which exposes members and partners to accountability.
The bill, which was approved by the committee after receiving 17 votes to four, needs to be passed in full by the Senate and House of Representatives, and then signed by President Joe Biden to become law.
If it becomes law, the US attorney general will be able to sue OPEC or its members, such as Saudi Arabia, in a federal court. It will also be able to sue other producers allied with "OPEC", such as Russia, who are working with the organization to reduce supplies within what is known as the "OPEC +" group.
A bill aims to protect US consumers and businesses from deliberate hikes in gasoline and heating oil prices, but some analysts warn that its implementation could have some unintended, dangerous repercussions.
The project is submitted by the two main parties and will introduce amendments to the American anti-monopoly law to abolish the sovereign immunity that protects “OPEC” and the national oil companies in its member states from lawsuits.
It was not clear how a federal court could enforce antitrust rulings on a foreign country. But several attempts to enact the "NOPEC" law over more than 20 years have alarmed Saudi Arabia, the de facto leader of OPEC, prompting it to exert strong pressure every time a copy of this law is presented.
The White House did not say whether Biden supported the bill, and it was not clear whether he had enough support in Congress to reach this stage.
Opposition to the US oil sector
The American Petroleum Institute, the largest conglomerate in the US oil industry, has objected to the NOPEC bill, saying it could harm domestic oil and gas producers.
One of the sector's concerns is that the NOPEC bill will eventually lead to more OPEC production than the market needs, which may lower prices to a degree that American energy companies will find it difficult to boost production. Saudi Arabia and other OPEC members have some of the cheapest and easiest oil reserves to extract.
Research group Clear View Energy Partners also said in a note that any additional oil pumping from OPEC producers, even at a time dominated by fears of a Russian supply shortage, "could freeze drilling activities in the United States, which could jeopardize domestic energy security as well as recovery of the local economy.
One of the sector's concerns is that the NOPEC bill will eventually lead to more OPEC production than the market needs, which may lower prices to a degree that American energy companies will find it difficult to boost production. Saudi Arabia and other OPEC members have some of the cheapest and easiest oil reserves to extract.
Research group Clear View Energy Partners also said in a note that any additional oil pumping from OPEC producers, even at a time dominated by fears of a Russian supply shortage, "could freeze drilling activities in the United States, which could jeopardize domestic energy security as well as recovery of the local economy.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
» The Prime Minister is discussing in Paris providing Iraq with specialized radars and combat aircraft
» The Prime Minister is discussing with the delegation of Alstom Transport Company the suspended Baghd
» Prime Minister: We need a new style of relationship with the international coalition, and our financ
» An expert hints at the stability of the dollar at a certain number: two options before the dinar det
» It provides thousands of job opportunities and millions of dollars.. Can Iraq implement the "transit
» Pompeo's memoirs.. Al-Abadi told me: You take my money and Soleimani will take my life
» Iraq gets about $100 million annually from aircraft crossing its airspaceproposals from
» Iraq.. 12 million citizens do not receive 200,000 dinars per month
» 100 dollars for the “hardship” .. This is how the dollar is smuggled after the application of the el
» Iraq wants to buy French Rafale aircraft
» In detail... Iraq and France sign a memorandum of understanding in the field of combating corruption
» Transport reviews the details of a "giant project" linking Iraq with Europe
» Sheikh Jamal Al-Dari: Iraq's signing of the strategic partnership agreement with France is an import
» Legal experts: The Federal Court is unconstitutional and “political tensions” are behind the decisio
» Fouad Hussein: Al-Sudani and Macron did not address the recent Federal Court decision
» “Sales diplomacy.” South Korea strengthens its presence in Iraq and the region’s markets
» Foreign Ministry: Iraq seeks to recover smuggled funds by signing memorandums of understanding
» Parliamentary Finance: The dollar is available in the Central Bank, and banks refrain from buying it
» Al-Samarrai on the Paris Agreement: It represents a transition that the Iraqis have been waiting for
» "Exceptional circumstances" suspend the work of the Iraqi embassy in a European country
» This Is How The Dollar Crisis Was Made.. And This Is How The Sudanese Became! C 2
» 4 parliamentary questions looking for the "secret" of depositing Iraq's money in the US Federal Rese
» Ministry of Commerce: The prices of building materials in our warehouses are fixed and have not been
» Iraqi Kurdistan warns of the "illegal" suspension of funding
» Integrity announces the return of more than a trillion dinars in the investigations of the investmen
» Counselor Mazhar Saleh presents proposals to ensure market stability
» Obelisk Hour: The decision of the Federal Court is implemented retroactively and the money is return
» The Constitution Amendment Committee is fading away amid calls to reduce Parliament to 250 deputies
» The oil and gas law has been faltering since 2008, and the Federal Council is at the center of a dis
» Iraq is outside the group.. Arab countries are classified as a "cultural influence index"
» A leader in the framework: The theft of the century revealed 3 surprises... and 70% of the cases hav
» A leader in the framework: Russia will intervene in resolving the urgent dollar crisis in Iraq
» “The washing continues.” Parliamentary Finance: Exempting the governor of the Central Bank does not
» Kurdish deputy: One goal behind Baghdad's pressure on the oil companies in the region
» After cutting off funds from the region, its president announces: The Kurds are Iraqi citizens
» Al-Sudani in Paris.. Details about armament deals, gas and electricity investments
» Washington surprised Baghdad with the restrictions of the dollar.. A Dutch network talks about "deli
» There is no power over the judiciary other than the law.
» Parliament asks Foreign Minister Fuad Hussein about the reason for depositing Iraq's money in the US
» America calls on Iraq to abide by its sanctions against Iran and to prevent the transfer of the doll
» Sudanese financial advisor offers new solutions to reduce the dollar crisis
» Headed by Al-Halbousi.. Starting a consultative meeting for the Arab Inter-Parliamentary Union
» Prime Minister: We will continue to work for serious partnerships that guarantee Iraq achieving econ
» Adviser to the Prime Minister presents two proposals to ensure the stability of the national market
» Al-Sudani expresses his government's desire to cooperate with UNESCO to implement small and medium p
» Trade: Government movement led by Al-Sudani to control food prices
» Minister of Labor: The Social Research Campaign is the largest in the region
» Saleh: The proceeds of small trades constitute 70% of the total import units
» Resources: Upcoming meetings with the Turkish side and dialogues with Iran on water shares
» The Minister of Electricity explains the reason for the recent decline in supply hours
» Nechirvan Barzani discusses with Erdogan the situation in Kurdistan and Iraq and ways to enhance coo
» Nechirvan Barzani on the anniversary of the liberation of Kobani: The people of Kurdistan will never
» Education determines the number of college schools Iraq needs
» From behind the scenes of the stock exchanges...a specialist reveals 3 types of dollar dealers there
» A great success for the forum of commercial meetings between Iraqi and Qatari companies.
» Within the framework of aid distribution … the Minister of Immigration instructed to provide aid to
» Legal experts: The Federal Court is unconstitutional and “political tensions” are behind the decisio
» The Prime Minister announces the signing of the strategic partnership agreement with Macron
» Al-Sudani appoints Laith Al-Athari as a member of the Board of Trustees of the Media and Communicati
» Judge Jaafar reveals the secrets of theft of the century: Politicians and parties in the previous go
» Al-Halbousi concludes his visit to Algeria
» The industry announces the production of 24 thousand tons of asphalt derivatives and an increase in
» Terrifying.. revealing the toll of mine victims in the Kurdistan region
» Education announces the availability of scholarships for foreign students and seats for non-Iraqis
» Reveal the details of the Iraqi-French agreement
» The stability of the dollar exchange rate in Iraq
» The Ministry of Industry announces the formation of special committees to implement the government p
» Al-Sudani and Macron discuss joint cooperation in a number of vital sectors
» Under the auspices of its Minister, Nizar Amidi, the environment organizes an event to launch the Vi
» Iraq.. Overthrowing more than 1,100 dealers and seizing 22,159 kg of drugs during the current month
» The House of Representatives announces the agenda for the next Saturday session
» An official statement reveals the details of the Sudanese and Macron meeting
» Presidency of the Council hinder the discussion of the exchange rate
» Dollar exchange rates in the Iraqi market
» The most prominent contents of the partnership agreement between Iraq and France
» Analysis: 4 reasons prompted Al-Sudani to demand the survival of US forces in Iraq
» The Iraqi judiciary: the main suspect in the tax secretariat case paid about two-thirds of the money
» After the message of the US Federal Reserve to the Iraqi Central Bank... a new strategy to combat "m
» The Kurdistan region is negotiating with the Iranian opposition parties to stop their activities in
» Economist: 14% for Kurdistan in the 2023 budget, in exchange for the delivery of 150,000 barrels of
» Minister of Labor: We are keen to provide the best services and we do not want to pass poverty on to
» Trade: Government movement led by Al-Sudani to control food prices
» Iraq second.. a list of the countries that import the most from Iran
» Kurdistan Parliament: The decision of the Federal Court will negatively affect the rapprochement bet
» KTFA Wednesday Night CC with Frank26 "Numbers" 1-25-2023
» Al-Halbousi is heading a parliamentary delegation to participate in the meeting of the Organization
» Disclosure of the details of the framework agreement with the Sudanese to dismiss the central govern
» American report: The Kurdistan government allowed the Turkish bombing of its lands as a metaphor for
» Reuters: A close victory for Al-Sudani through a French-Qatari deal worth $27 billionproposals from
» Ina / Al-Jubouri: America considers leaving Iraq as its loss to the Middle East
» Aware / Al-Shammari: Fruitful cooperation between Iraq and Jordan in controlling borders and combati
» State of law: Finance Minister Taif Sami prevented the sending of money to Kurdistan a month ago
» After a day of protests in front of the Iraqi Central Bank.. the dollar prices stabilized at 161 tho
» Integrity opens the file (investment portfolio) between retirement and Qi Card and returns more than
» Al-Dari: We trust Al-Sudanese ability to find "constitutional alternatives" that respect the decisio
» The deputy speaker of the Iraqi parliament calls on the political forces to take a stand on the deci
» A travel ban was issued against the former agent of the Iraqi Intelligence Agency, Ahmed "Abu Raghee
» An analysis detailing the significance of the Sudanese visit to France