US Official Confirms They Will Not Withdraw From Iraq
United States has reiterated its lack of plans to withdraw from Iraq, emphasizing that its forces remain in the country at the official invitation of the government.
A US military official said in press statements that “Washington is not making any withdrawal from Iraq, and US forces are remaining at the invitation of the government,” noting that “any redeployment of these forces will be subject to an assessment of the security situation.”
The US official affirmed the United States’ commitment to “a sustainable relationship with Iraq on the security and military levels.”
This US position comes after media reports in recent days spoke of a complete withdrawal of US forces from Baghdad. The US embassy also denied this, stating that its presence in Iraq is based on “bilateral agreements” aimed at supporting Iraqi forces.
For months, discussions have been ongoing between Baghdad and Washington to reorganize the US presence within the framework of an “advisory and training mission” rather than a direct combat role. https://www.radionawa.com/all-detail.aspx?jimare=42536
Economist: Iraq Enjoys Financial Stability Thanks To The Central Bank’s Reserves.
Economy | 04:47 – 03/09/2025 Mawazine News – Baghdad – Economic advisor, Mazhar Mohammed Saleh, confirmed on Wednesday that financial stability in Iraq is solid, and no worrying indicators have emerged so far, despite the external challenges and geopolitical shocks witnessed worldwide.
Saleh said, “Financial concerns are mainly due to the repercussions of external shocks such as trade wars and fluctuations in energy prices, but Iraq has proven its resilience thanks to the Central Bank’s foreign currency reserves.”
He added, “Monetary policy plays a pivotal role in stimulating the domestic financing market and supporting public liquidity, ensuring the implementation of government development programs and infrastructure projects, which is directly reflected in stimulating the labor market and enhancing economic activity.”
He pointed out that “the strong coordination between fiscal and monetary policies dispels any fears of recession and even enhances the sustainability of economic stability, in light of low inflation and unemployment rates, high growth rates, and the launch of the social market strategy that balances protecting livelihoods and supporting investment and reconstruction.”
https://www.mawazin.net/Details.aspx?jimare=266165
Gold Prices Rise In Baghdad And Erbil Markets
Wednesday, September 3, 2025, | Economic Number of reads: 116 Baghdad / NINA / The prices of foreign and Iraqi gold rose in the local markets of the capital, Baghdad, and Erbil, on Wednesday.
The selling prices of gold, in the wholesale markets on Al-Naher Street in Baghdad this morning, for one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 719 thousand dinars, and the purchase price was 715 thousand dinars.
The selling price of one mithqal of 21 karat Iraqi gold was recorded at 689 thousand dinars, and the purchase price was 685 thousand.
As for the prices of gold in goldsmiths, the selling price of one mithqal of 21 karat Gulf gold ranged between 720 thousand and 730 thousand dinars, and the selling price of one mithqal of Iraqi gold was between 690 thousand and 700 thousand dinars.
As for the prices of gold in Erbil, it also recorded an increase, as 22 karat gold was sold for 738 thousand dinars, 21 karat gold was sold for 705 thousand dinars, and 18 karat gold was sold for 605 thousand dinars. / End https://ninanews.com/Website/News/Details?key=1249868
Oil Prices Touch $70 Per Barrel
Energy Economy News – Baghdad Oil prices stabilized in Asian trading on Wednesday, maintaining the previous session’s gains driven by US sanctions, as the market looks ahead to the OPEC+ meeting early next week.
Brent crude fell 1 cent, or 0.01%, to $69.13 a barrel by 00:32 GMT.
While US West Texas Intermediate crude rose four cents, or 0.06%, to $65.63 a barrel.
Crude oil had risen more than 1% at settlement in the previous session after the United States imposed sanctions on a network of ships and shipping companies run by a businessman with dual Iraqi and St. Kitts and Nevis citizenship for smuggling Iranian oil under the guise of Iraqi crude.
A preliminary Reuters poll showed on Tuesday that U.S. crude oil inventories fell last week, along with distillate and gasoline stocks.
Three analysts polled by Reuters before the release of the weekly inventory data estimated that crude oil inventories fell by an average of about 3.4 million barrels in the week ending August 29.
weak data
Weak economic data kept prices range-bound.
The US manufacturing sector contracted for the sixth consecutive month as tariffs imposed by US President Donald Trump weighed on business confidence and economic activity, which in turn impacted expectations for crude demand.
The market is awaiting the results of a meeting of eight members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies on September 7.Analysts say the group is unlikely to approve further changes to production at this time. https://economy-news.net/content.php?id=59584
New Rise In The Exchange Rate In Baghdad
Economy |03/09/2025 Mawazine News – Baghdad – The US dollar exchange rate rose in Baghdad markets on Wednesday.
The dollar price rose on the Al-Kifah and Al-Harithiya stock exchanges to 142,800 Iraqi dinars for every $100, while it recorded 142,600 dinars for every $100 on Tuesday.
Selling prices also rose in exchange shops in Baghdad’s local markets, where the selling price reached 143,750 Iraqi dinars for every $100, and the buying price reached 141,750 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=266146
China Estimates Its Trade Volume With Iraq At Nearly $200 Billion.
Economy | 03/09/2025 Mawazine News – Baghdad – The Counselor of the Chinese Embassy in Iraq, Xu Haifeng, confirmed today, Wednesday, that Iraq is a key partner for his country, noting that China imported about 64 million tons of crude oil from Iraq in 2024.
Haifeng said in a press conference held in Baghdad on the occasion of the 80th anniversary of the victory over Japan that Chinese companies have been working in the energy sector in Iraq for many years, especially after 2003, and have contributed to the reconstruction of the oil sector and the export of crude oil to foreign markets. He stressed the readiness of both the Iraqi and Chinese sides to enhance cooperation in the fields of oil and electricity, with expectations of more diverse partnerships in the future.
The Chinese diplomat added that his country has invited 26 countries, including heads of government, parliaments, political and military leaders, to participate in China’s celebrations of its victory over Japan.
He pointed out that the Chinese president stressed in his speech that the resistance of the Chinese people was the first struggle against foreign aggression and contributed to saving human civilization. He affirmed his country’s commitment to working with countries around the world to build a bright future for humanity.
Haifeng explained that China’s relations with its neighboring countries during World War II were intertwined, as the peoples of the region fought battles against Japanese aggression.
In response to our correspondent, the Chinese diplomat indicated that his country is today open to economic cooperation in Iraq, through its companies operating in the fields of energy, electricity and communications.
He pointed out that cooperation between China and Iraq includes combating terrorism, as Beijing provides training programs for Iraqi security forces.
The Chinese official concluded his remarks to the agency by pointing out that the volume of trade between the two sides reached approximately $200 billion in 2024. He explained that Chinese companies have also participated in the reconstruction of the Kurdistan Region’s economy, with financial cooperation expanding over the past two years. https://www.mawazin.net/Details.aspx?jimare=266161
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