PM: Iraqi oil export through Türkiye to Ceyhan port still suspended

INA - BAGHDAD 

PM Muhammed S. Al-Sudani confirmed on Tuesday, that electricity has returned to normal, and there are question marks about the recent simultaneous incidents that affected the system. He also included that the federal government and the regional government deal responsibly with the bilateral agreement and what was stated in the budget.

Al-Sudani held a press conference in Baghdad, in which he responded to a question by the reporter of the Iraqi News Agency - INA, that "electricity is a sensitive issue and affects the life of the citizen in service and economically. There was a problem of stopping imported gas, and before that, we recorded the highest production in the history of the system, which reached 26 thousand megawatts."

"After stopping the gas, electricity production decreased by the limits of 4,500 megawatts to 5,000 megawatts, and after the decision to exchange black oil for Iranian gas, electricity returned to normal at the security and technical levels," he noted.

He pointed out, "After the completion of Total projects, the fifth round, and some fields, there will be a surplus of gas, and we will not import at that time from any country. In fact, the fuel crisis is a crisis of corruption and mismanagement, and we bear this heavy legacy."

"We have two companies now that have started producing solar energy and combined recycle projects, which will add up to 3,000 megawatts without fuel after they were idle in previous years. We have completed the final contracts with Siemens regarding long-term maintenance. It is also hoped to contract with GE for the same purpose," he detailed.

Al-Sudani revealed that "an Iraqi delegation visited Germany and Italy and agreed in principle to import production lines to establish factories. These factories will be covered by a government sovereign guarantee for the private sector at 85% of their value."

In a different matter, the Prime Minister pointed out that "the Cabinet approved the Iraq Fund for Development system, and we are working to form a board of directors. We have received offers from Arab and foreign investment funds to participate in the Iraq Fund for Development. We have also received requests from the private sector to implement projects within the Iraq Fund for Development."

He highlighted the decisions of the Cabinet today, stressing that "the Cabinet approved the Reconstruction Fund system for the poorest provinces and agreed to allocate 5 billion dinars to the Artists' Retirement Fund, and the Council also decided to refer the seawater desalination plant project to the Governorate of Basra. It also approved in the session recommendations Granting individual or tourist entry visas to Arbaeen visitors from the Gulf countries," noting that "the visas are granted through the official border crossings with a special stamp until the end of the month of Safar."

Regarding the imported gas, he explained that "work is ongoing with the US side regarding the payment of Iranian gas dues. These dues have decreased to 9 billion and 250 million euros, and we have contributed to a transfer of about one billion and 842 million euros to Iran regarding its gas dues within 7 months of the government's life," revealing that "an Iraqi delegation from the Central Bank of Iraq and the Iraqi Trade Bank went to the Sultanate of Oman to agree on a formula for transferring these funds to the Sultanate in coordination with the US Treasury."

On the issue of speculation in foreign currency, the PM said, "The issue of the dollar is a battle, not a crisis. It is a battle between the state, which insists on completing reform of the financial and banking system, as well as an affected group, which is a group of speculators and smugglers."

"We are continuing with determination to pursue speculators and smugglers of foreign currency. The observations that I referred to against the 14 Iraqi banks sanctioned by the US Treasury were during the previous period, not now," he noted.

The Prime Minister disclosed that "the National Security Agency carried out a heroic operation that overthrew a network of major currency speculators, who were setting an exchange rate and communicating with small speculators to withdraw dollars from the market for them, as these were associated with others in the Kurdistan region through whom the currency was being smuggled," adding that "in cooperation with the KRG, a speculative network was also overthrown in the city of Erbil."

In terms of the facilities, the Prime Minister explained, "We gave facilities to small merchants to obtain dollars from the Trade Bank of Iraq, and we have a team working to prepare customs and tax facilities for importers," noting that "the CBI is currently reviewing the work of all banks and exchange companies to verify funds."

Al-Sudani concluded, "The federal government and the regional government deal responsibly with the bilateral agreement and what was stated in the budget, as today we launched financing for the entitlement of the Kurdistan region in the budget," stressing at the same time that "the export of Iraqi oil through Turkey to the port of Ceyhan is still suspended."