Trade: Procedures to release 50,000 containers piled up at border crossings
Money and Business Economy News – Baghdad The Ministry of Commerce is working with relevant authorities to find a mechanism to bring more than 50,000 containers of stockpiled goods into the country, while emphasizing the continuity of land supply chains.
The Director General of the Private Sector Development Department at the Ministry, Dr. Malek Al-Duraie, stated in an interview with the official newspaper, which was followed by “Al-Eqtisad News”, that the government has succeeded in controlling the border crossings after imposing the customs tariff and implementing the ASYCUDA system, which enhances its economic security in all aspects, and within the government plans prepared to reform the country’s financial and commercial system.
He pointed out that there are goods that have not yet entered the country, after the imposition of the new tariff, and they are still piled up at the land ports in the process of being taken out as part of the port procedures, stressing that their number exceeded 50,000 containers containing various types of goods.
Al-Duraiei explained that the merchants appealed during a meeting they held with the ministry two days ago, in order for the necessary measures to be taken to allow their goods that are in the border crossings to enter, because their accumulation there is causing them huge financial losses, in addition to the fact that their entry into the markets will compensate for the disruption of trade through the sea ports as a result of the security conditions that the region is currently experiencing.
He continued, saying that the ministry is discussing with representatives of chambers of commerce and relevant authorities the preparation of recommendations in this area and submitting them to the Prime Minister’s office to obtain approval for their inclusion under a mechanism that guarantees the state’s rights and preserves the new system.
In the same context, the Director General of the Department of Private Sector Development stated that the entry of new goods into local markets, in conjunction with the continuation of supply and trade chains through land ports and their uninterrupted operation, will enhance efforts to prevent any crisis or shortage in securing basic materials for citizens, by facilitating their entry in an official and legal manner and within the government procedures prepared in this regard to confront the crisis.https://www.economy-news.net/content.php?id=67077
Oil Prices Rise To $104 A Barrel
Today, Oil prices rose in early trading on Tuesday, driven by supply concerns after Iran denied holding talks with the United States to end the trade war. Brent crude futures climbed $1.06, or 1.1%, to $104 a barrel, while U.S. West Texas Intermediate crude rose $1.58, or 1.8%, to $89.71. Crude contracts had plunged more than 10% on Monday after Trump said he had ordered a five-day delay in the attacks he had threatened to launch against Iranian power plants.
https://ina.iq/en/economy/47025-oil-prices-rise-to-104-a-barrel.html
Iran Suspends Trade At Shalamcheh Border Crossing With Iraq After Rocket Attack
2026-03-24 Shafaq News- Basra Iran has temporarily halted commercial traffic at the Shalamcheh border crossing with southern Iraq following rocket fire near the trade yard.
Sources told Shafaq News on Tuesday that the suspension was taken as a precaution after strikes landed close to the commercial exchange area on the Iranian side of the crossing, adding that trade movement is expected to resume once authorities complete an assessment of the security situation. https://www.shafaq.com/en/Economy/Iran-suspends-trade-at-Shalamcheh-border-crossing-with-Iraq-after-rocket-attack
The Electricity System Has Stabilized And Gas Supplies Have Increased To 18 Million Cubic Meters Per Day.
Time: 2026/03/24 {Local: Al-Furat News} The spokesman for the Ministry of Electricity, Ahmed Al-Abadi, announced today, Tuesday, that the ministry continues to hold a permanent operations room, with intensive government follow-ups, and direct supervision by the Deputy Prime Minister for Energy Affairs, Minister of Oil and Acting Minister of Electricity, Hayyan Abdul Ghani Al-Sawad, and is monitoring the current conditions in the region and is keen to follow up on production stations, power transmission lines and distribution networks, and is responsible for securing fuel, its components and gas in order to maintain the momentum of the work of power generation stations to keep up with the required loads.
Al-Abadi explained in a statement received by Al-Furat News that “the national electricity system is recording good stability in terms of its achieved production, the sustainability of its work, its lines, stations, operating hours and supply,” expressing that “the ministry is still coordinating at a high level with the Ministry of Oil to benefit from national gas and fuel and secure it for electricity stations.”
He explained that “the system is operating smoothly after completing a large part of the rehabilitation and maintenance programs for the generating units, to keep pace with its readiness for the upcoming summer loads, noting that the releases of imported gas have begun to gradually increase, as gas was released to the central and southern regions, and its releases have increased again from (5 million to 18 million cubic meters per day), and thus gas has been made available to the stations that were affected in the past few days.”
He concluded that “the ministry is aware of the magnitude of its responsibilities and service obligations towards citizens, and is proceeding with the completion of its preparedness plan for next summer, and is continuing to implement its projects and contracts with international companies to develop the capabilities of the system.” LINK
CBI: Social Media Influencers Are Financial Crime Threat
Shafaq News – Baghdad (Updated at 16:35) The Central Bank of Iraq (CBI) instructed all banks and financial institutions to classify social media celebrities and influencers as “high-risk and multi-risk clients.”
According to documents, the CBI said this group now poses new risks to the financial sector, particularly in cases involving money laundering, terrorism financing, illicit funding, fictitious contracts, and unexplained transfers.
The Central Bank’s media team member, Alaa Fahd, said in a post on Facebook that social-media celebrities and influencers have become “a source of new threats” to the financial sector. He added that the measure is a necessary step to protect the financial system from chaos and misuse, noting that some influencers have recently been involved in facilitating suspicious contracts, documents, and transfers used in unlawful activities.
Fahad further pointed out that the new instructions do not amount to restrictions but serve as “a shield to protect the national economy, strengthen confidence in the banking sector, and close the door to any attempt to infiltrate one of the country’s most sensitive sectors.”
Iraq has seen rapid growth in social media use, with the Digital Media Center reporting 34.3 million users in 2024—nearly 74% of the population. TikTok recorded the fastest expansion, while platforms such as Facebook, Instagram, Snapchat, and LinkedIn also grew.
Earlier this year, Iraq’s Communications and Media Commission (CMC) required social-media influencers to pay annual licensing fees based on the size of their audience.
Under the new policy, creators with more than 5 million followers will pay 1 million IQD (about $703) per year, while those with 3 to 5 million followers will be charged 850,000 IQD (about $598).
Accounts with 1 to 3 million followers must pay 650,000 IQD (about $457), those with 500,000 to 1 million followers owe 450,000 IQD (about $316), and creators with 100,000 to 500,000 followers will pay 350,000 IQD (about $246).
https://www.shafaq.com/en/Economy/CBI-Social-media-influencers-are-financial-crime-threat
