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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq lost $11 billion in oil, and federal decisions will produce these consequences

    Rocky
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    Iraq lost $11 billion in oil, and federal decisions will produce these consequences Empty Iraq lost $11 billion in oil, and federal decisions will produce these consequences

    Post by Rocky Sat 02 Mar 2024, 4:01 am

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    [size=52]Iraq lost $11 billion in oil, and federal decisions will produce these consequences[/size]

    [size=45]A report issued in London by the International Center for Development Studies monitored the consequences of the recent decisions of the Federal Court regarding the Kurdistan region, and shed light on external tensions, most notably Iran’s fears of developing Iraqi gas fields, and Turkey’s demands related to the economy, security, and water sharing.[/size]
    [size=45]The report warned that the recent decisions of the Federal Supreme Court would limit the powers of the federal Kurdistan region, harming the promising economic base it has built over the past two decades.[/size]
    [size=45]The Federal Supreme Court decided last week to oblige the Iraqi Kurdistan region to hand over all oil and non-oil revenues to the federal government in Baghdad, and to “obligate the localization” of the salaries of all employees of the region in federal banks, and to replace the Supreme Election Commission in the region, in addition to dividing the region. To four regions to hold the expected legislative elections for the Kurdistan Parliament, in addition to a decision that some paragraphs of the Iraqi Kurdistan Parliament Elections Law are unconstitutional.[/size]
    [size=45]The report explained that the Kurdistan Region's non-oil revenues in the first half of last year amounted to 80 percent of non-oil revenues, and the region has attracted a large number of investors in the field of energy, especially with regard to developing gas fields in preparation for its later export.[/size]
    [size=45]The Kurdistan Region's reserves are estimated at 5.67 trillion cubic meters of natural gas, which is equivalent to three percent of the total global reserves, which places the region in an advanced position within the global gas market.[/size]
    [size=45]Iraq plans to take advantage of its reserves to generate electricity and dispense with importing energy to fill the shortfall that the country needs, as the Federal Ministry of Oil was authorized in the middle of last year to contract with gas production companies in the Kurdistan region to operate a number of electricity stations.[/size]
    [size=45]Iranian fears of developing Kurdistan gas?
    According to the report, the Kurdistan region’s investment of these quantities of gas in generating electricity raises Iran’s fears of Iraq’s energy independence, causing it to lose an important market that provides it with billions of dollars.[/size]
    [size=45]He added, “Iran views the issue of gas exports from the Kurdistan region as a real threat. Tehran was and still aspires to export gas to Europe, and it rejects the region being able to achieve that, or transforming it into an influential force in regional politics in the future.”[/size]
    [size=45]The report indicates the negative impact of the recent Federal Court decisions on both Baghdad and Erbil alike, as they complicate many pending issues between the two parties, such as the dues of foreign oil companies operating in the region and the cost of oil production, which threatens to disrupt work in the region’s oil fields and cause major financial losses. For the Iraqi economy in general.[/size]
    [size=45]In light of the cessation of the region's oil exports through Turkish ports and the inability of non-oil revenues to cover all expenses, Baghdad will have to bear a large portion of the salaries of the region's employees, which adds a new burden to the federal budget.[/size]
    [size=45]The report notes that since late March 2023, Iraq has lost more than $11 billion due to the cessation of the Kurdistan Region’s oil exports through Turkish ports, and despite the lengthy negotiations in both Baghdad and Ankara and the latter’s promises to return the region’s exports, nothing has happened.[/size]
    [size=45]The British report talks about great pressure being exerted by Ankara on Baghdad and Washington to cooperate in the files of the Kurdistan Workers’ Party and the “Syrian Democratic Forces” (SDF), which Turkey considers to be terrorist organizations.[/size]
    [size=45]Ankara demands that Baghdad classify the Kurdistan Workers' Party as a terrorist organization and remove it from areas that threaten its national security. It also strongly opposes the United States' arming of the SDF and its cooperation with it.[/size]
    [size=45]The British report indicates Turkish support for the government of Iraqi Prime Minister Muhammad Shia al-Sudani regarding some projects that Ankara considers strategic for it, such as the “development road” linking the port of Al-Faw on the Arabian Gulf and the Turkish border towards Europe in the north, which Turkey demanded to accelerate work on, and established joint offices. In a number of Iraqi governorates to start it as soon as possible.[/size]
    [size=45]According to the Center’s report, the issuance of the recent Federal Court decisions coincided with the ongoing controversy in Iraq over the fate of the coalition forces, as there are major parties who do not support this idea, while a broad spectrum of the pro-Iranian coordination framework insists on it.[/size]
    [size=45]The federalism of Iraq is a benefit to the region’s economy.
    Iraq, according to the British report, is Iran’s economic lung in light of the presence of sanctions. As for Turkey, Iraq is the fifth largest importer of its goods. Turkey and Iran also aspire to benefit from the plans of the Sudanese government aimed at making Iraq an important commercial link between... East and West, so any weakening or undermining of the federal experience in Iraq will have effects on these countries and negative consequences on their economies.[/size]
    [size=45]The report of the International Center for Development Studies recommends the need to think about drafting legislation that enhances the delegation of powers between Baghdad and Erbil, instead of reducing it through centralization of authority, which requires effort at the local level in the Kurdistan region itself through dialogue between all Kurdish parties, as well as developing new frameworks for cooperation. Between all parties on the basis of trust and partnership, without imposing wills and destabilizing the political and economic stability that has been achieved, even to minor degrees.[/size]
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