Baghdad, Iraq- Russia confirmed that its energy investments in Iraq have reached $19 billion, strengthening its economic ties with the country. Officials highlighted the growing cooperation between Russia and Islamic nations, including Iraq, ahead of the Kazan Forum 2025.
The 16th International Economic Forum “Russia – Islamic World: Kazan Forum” will take place from May 13 to 18. This platform...
Baghdad, Iraq- The Iraqi Central Bank (CBI) reported total US dollar sales of $293,340,631 during its currency auction on Sunday. The bank facilitated these transactions at a base exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers. Meanwhile, the exchange rate for cash transactions stood at 1,305 IQD per dollar.
Most...
Baghdad, Iraq- Gold prices declined on Monday as traders capitalized on recent gains. The price of one ounce of gold dropped by 0.4%, settling at $2,925 per ounce.
Investors are closely watching the release of U.S. inflation data. The report could provide clearer insights into the Federal Reserve’s future monetary policy decisions. Uncertainty surrounding interest rates continues to influence...
Baghdad, Iraq- Oil prices fell in Asian markets on Monday, extending losses from the previous week, as expectations of resumed exports from Kurdistan’s oilfields weighed on the market. Investors also awaited further developments in negotiations related to the ongoing Russia-Ukraine conflict.
Brent crude futures dropped by 14 cents, or 0.2%, reaching $74.29 per barrel by 0441 GMT, while US West...
Iraq has dropped out of the list of the top 20 holders of US Treasury securities, despite holding $32.6 billion in 2023. The latest data from the US Treasury Department, released on Sunday, confirmed this shift.
Japan remains the largest foreign holder of US Treasury securities, with a total of $1.059 trillion. China follows with $759 billion, while the...
Baghdad, Iraq- Iraq’s crude oil exports to the United States saw a significant increase last week, bouncing back after two consecutive weeks of decline. According to the latest data from the US Energy Information Administration (EIA), Iraq’s crude shipments reached 257,000 barrels per day (bpd), marking a sharp rise from the previous week’s 46,000 bpd.
The overall crude oil imports...
Oil prices rose slightly on Wednesday due to concerns about potential disruptions in oil supply from the U.S. and Russia, while markets await updates on the ongoing peace talks related to Ukraine.
Brent crude futures increased by 14 cents, or 0.2%, reaching $75.98 a barrel at 0450 GMT, marking a potential third consecutive day of gains. Meanwhile, U.S. West Texas...
Baghdad, Iraq- The Central Bank of Iraq (CBI) recently concluded its first quarterly meetings of 2025 with key representatives from the US Treasury Department and the Federal Reserve Bank. Held in Dubai, UAE, the sessions also included participation from leading international auditing and consulting firms such as EY (Ernst & Young), K2 Integrity, and Oliver Wyman, highlighting the collaborative...
Baghdad, Iraq- Iraq’s Minister of Oil, Hayan Abdul Ghani, reaffirmed the government's dedication to investing in the gas sector as a crucial factor for driving the country’s economic and industrial development. Speaking at the Iraq Britain Business Council (IBBC) Baghdad Conference on Monday, Abdul Ghani highlighted significant strides made in Iraq's oil and gas industries.
He outlined key achievements, including:
An...
Baghdad, Iraq- Iraq's Minister of Oil, Hayan Abdul Ghani Al-Sawad, held a meeting on Sunday with Elbrus Kutrashev, the Russian Ambassador to Baghdad, along with a delegation from Russia’s OMK Group. The discussions centered on expanding bilateral cooperation between Iraq and Russia in the oil, gas, and energy sectors.
The Russian delegation, representing OMK Group, which is one of Russia's...