Thread: Iraqi/Dinar news until March 1st, 2007

Originally Posted by mojosj

Kurdish leader says he now accepts new oil law, a major benchmark for progress in Iraq
The Associated PressPublished: February 24, 2007

SULAIMANIYAH, Iraq: Kurdish authorities have agreed to back a draft law to manage and share Iraq's vast oil wealth, removing the last major obstacle to approving the measure and meeting a key U.S. benchmark in Iraq, a top Kurdish official said Saturday.

Massoud Barzani, president of the self-governing Kurdish administration in the north, made the announcement at a joint press conference with U.S. Ambassador Zalmay Khalilzad and President Jalal Talabani.

Barzani said he and Talabani had discussed the latest draft law by telephone with Prime Minister Nouri al-Maliki and "the results were good."

"We reached a final agreement," Barzani said. "We accept the draft."

There was no comment on the announcement from Khalilzad or Talabani, and Barzani did not elaborate. It was unclear whether new concessions had to be made to win his approval.

Al-Maliki's government had promised to enact a new oil law by the end of 2006 but missed the deadline due to objections from the Kurds, who wanted a greater role in awarding contracts and administering the revenues.

The Cabinet discussed the draft Thursday but failed to reach an agreement. Once the Cabinet signs off, the measure goes to parliament for final approval once the legsilators return from a recess early next month.

President George W. Bush's administration, facing growing pressure to end the Iraq conflict, has been urging the Iraqis to finish the new oil law. Secretary of State Condoleezza Rice pressed for early enactment during her one-day visit to Iraq last week.

A new law is needed, most outside experts believe, to encourage international companies to pour billions into Iraq to repair pipelines, upgrade wells, develop new fields and begin to exploit the country's vast petroleum reserves, estimated at about 115 billion barrels.

According to Iraqis familiar with the deliberations, the draft law would offer international oil companies several methods to invest, including production-sharing agreements. Those would give U.S. and other international companies a substantial share of the oil revenues to recover their initial investments and then allow them big tax breaks.

That angers some Iraqis, who believe foreigners will get too much control of the nation's wealth.

But the biggest battle is over who gets the most say in awarding contracts and managing the revenues. The Kurds, who have run their own mini-state in the north since 1991, want regional administrations to have a bigger role.

Most of the country's proven oil reserves lie in the Kurdish north or the Shiite south, which also wants to establish a self-ruled region. That has led the Sunnis to demand more power for the central government, to assure them a share of the wealth.

To win Kurdish approval, the current draft gives a major role to the regional administrations in awarding contracts but allows a committee under the prime minister to review them.

To satisfy the Sunnis, oil revenues would be distributed to the 18 provinces based on their populations — not on whether they have oil. It's unclear whether Sunni Arabs would accept a population-based formula since they have consistently challenged figures showing them as a minority.

While the Kurds want more control of revenue generated from their fields, others think the new proposals give the regions too much control.

If implemented, "The balance of power in the management of Iraq's oil and gas resources would have shifted alarmingly from the center to the regions," former oil official Tariq Shafiq, who helped draft the first version, told an oil seminar in Amman, Jordan, this month.

Kurdish leader says he now accepts new oil law, a major benchmark for progress in Iraq - International Herald Tribune

This is the best news that I have seen out of Iraq in several months. The Kurds actually agree on something the Oil Draft states. Please let this go through with no more announcements of discontent by anyone.

Originally Posted by Par77

Kurdish leader says he now accepts new oil law, a major benchmark for progress in Iraq
The Associated Press
Published: February 24, 2007


SULAIMANIYAH, Iraq: Kurdish authorities have agreed to back a draft law to manage and share Iraq's vast oil wealth, removing the last major obstacle to approving the measure and meeting a key U.S. benchmark in Iraq, a top Kurdish official said Saturday.

Massoud Barzani, president of the self-governing Kurdish administration in the north, made the announcement at a joint press conference with U.S. Ambassador Zalmay Khalilzad and President Jalal Talabani.

Barzani said he and Talabani had discussed the latest draft law by telephone with Prime Minister Nouri al-Maliki and "the results were good."

"We reached a final agreement," Barzani said. "We accept the draft."

There was no comment on the announcement from Khalilzad or Talabani, and Barzani did not elaborate. It was unclear whether new concessions had to be made to win his approval.

Al-Maliki's government had promised to enact a new oil law by the end of 2006 but missed the deadline due to objections from the Kurds, who wanted a greater role in awarding contracts and administering the revenues.

The Cabinet discussed the draft Thursday but failed to reach an agreement. Once the Cabinet signs off, the measure goes to parliament for final approval once the legsilators return from a recess early next month.

President George W. Bush's administration, facing growing pressure to end the Iraq conflict, has been urging the Iraqis to finish the new oil law. Secretary of State Condoleezza Rice pressed for early enactment during her one-day visit to Iraq last week.

A new law is needed, most outside experts believe, to encourage international companies to pour billions into Iraq to repair pipelines, upgrade wells, develop new fields and begin to exploit the country's vast petroleum reserves, estimated at about 115 billion barrels.

According to Iraqis familiar with the deliberations, the draft law would offer international oil companies several methods to invest, including production-sharing agreements. Those would give U.S. and other international companies a substantial share of the oil revenues to recover their initial investments and then allow them big tax breaks.

That angers some Iraqis, who believe foreigners will get too much control of the nation's wealth.

But the biggest battle is over who gets the most say in awarding contracts and managing the revenues. The Kurds, who have run their own mini-state in the north since 1991, want regional administrations to have a bigger role.

Most of the country's proven oil reserves lie in the Kurdish north or the Shiite south, which also wants to establish a self-ruled region. That has led the Sunnis to demand more power for the central government, to assure them a share of the wealth.

To win Kurdish approval, the current draft gives a major role to the regional administrations in awarding contracts but allows a committee under the prime minister to review them.

To satisfy the Sunnis, oil revenues would be distributed to the 18 provinces based on their populations — not on whether they have oil. It's unclear whether Sunni Arabs would accept a population-based formula since they have consistently challenged figures showing them as a minority.

While the Kurds want more control of revenue generated from their fields, others think the new proposals give the regions too much control.

If implemented, "The balance of power in the management of Iraq's oil and gas resources would have shifted alarmingly from the center to the regions," former oil official Tariq Shafiq, who helped draft the first version, told an oil seminar in Amman, Jordan, this month.

***************************************


Par77, This is AWESOME NEWS !!!!!!!

Thank you, Thank You

Originally Posted by neno

No Dinar Leaving -------------------------------------------------------------------------------- Embassy of the United States of America Baghdad, Iraq WARDEN MESSAGE February 23, 2007 The Embassy requests that wardens pass the following message in its entirety to members of the American community: The Ministry of Foreign Affairs of the Republic of Iraq has released updated regulations for non-Iraqi nationals exiting Iraq with foreign or Iraqi currency. Since December 25, 2005, Iraqi law has prohibited non-Iraqi adults from transporting more than U.S. $10,000 in cash out of Iraq. Iraqi law also prohibits carrying out more than 100 grams of gold. As of February 21, 2007, Iraqi law now prohibits non-Iraqi adults from transporting any Iraqi currency out of the country. Iraqi customs personnel are taking action to enforce this law and may pose related questions to travelers during immigration and customs exit procedures. (Civil customs personnel also will verify passport annotations related to any items such as foreign currency, gold jewelry, or merchandise that were declared by passengers upon entry into Iraq on Form-8.) THIS SPEAKS VOLUMES

The timing of this announcement is very interesting indeed!

It has me thinking of what the prerogative is for making such an announcement. How many Non-Iraqi adults have been taking currency and gold out of the country in the past? For what reason do they NOT want their currency leaving the country? These are very important questions.

I believe the larger private sources of Dinar stateside will still have their Iraqi contacts to supply them, so will this really make a dent in the supply chain here? I don't think so.

What about the banks? This is where I think the announcement has teeth. If the normal channels for BOA and others are now cut off, that means the value of their existing supply has suddenly and dramatically increased in value. If this is true, then the cost should begin to rise dramatically as well.

We will see what the asking prices are on Monday and this will confirm or deny my suspicions.....

This is all good news and it feels as if the Dam's about to break.

Thank you.

Originally Posted by Wm.Knowles

I am sure that time will tell, but I can't help believe that this law is meant to limit dinar outside of iraq and reduce specualtion. We'll see if this results in further "drying" up of the dinar. Thank You.

Iraq has been limiting the carriage of dinar out of the country for some time now. I believe this is only an enhancement of that policy. However, it is my understanding that the transfer of dinar out of the country through financial institutions is legal. I remember that there was a reason for this but can not remember what the specific reason was. Cash dinar, as I understand it, can be sent from a bank account in Iraq to a bank account in Jordan with no problem. I wish I could remember why this is allowed, but I can't. This is how the dealers are getting their dinar in Jordan. I think this is a case of trying to limit a rush on the dinar. All is well.

Originally Posted by neno

My Bad. Greta to the Both of You. We have so many searching and posting all the Great News coming Out.

Thanks Neno, Yes, we gotta keep the GREAT NEWS coming

Originally Posted by mojosj

I noticed that you posted the article before, I apologize for the re-post.

Still good news!!!

The Best news! What we have all been waiting on....we posted 10 minutes apart! We are all gonna be rich soon

I think my posts got lost under the long article on page 15

Muqtada’s close aide freed from US custody

BAGHDAD (AP)
A top aide of radical Shia cleric Muqtada Al Sadr has been released from US custody after being held for five months, an Al Sadr official said yesterday.
Salah Al Obeidi, a spokesman for Al Sadr, was freed on Wednesday and appeared “in good shape” at Friday prayers in Kufa, about 160 kilometres south of Baghdad, said the official, who spoke on condition of anonymity because he was not authorised to brief the media.
Al Obeidi and another member of Al Sadr’s inner circle, Muayed Al Khazraji, were taken in a raid in September by US and Iraqi forces.
No charges were made public, but US-led authorities have increased pressure on Al Sadr and his Mahdi Army militia as part of sweeps to battle sectarian violence.
The US.military did not immediately comment on the reported release.
It was not known whether Al Khazraji also was released.
Al Sadr’s forces have significantly lowered their profile in parts of Baghdad since a major security effort began last week, including a drop in reports of Sunni killings blamed on Shia death squads.
Meawhile, Iraqi army soldiers intensify search for deadly weapons across Baghdad.

U.S. forces arrest militia leader, 12 policemen in northern Iraq
Last Updated(Beijing Time):2007-02-24 14:26

U.S. forces on Friday arrested a prominent leader loyal to radical Shiite cleric Muqtada al-Sadrand 12 Iraqi policemen in separate incidents in northern Iraq, a local police source said.
"Hashim Antar, a leader in Sadr's line, and his cousin were arrested during a U.S. raid targeted his house in central Tal Afar, some 470 km north of Baghdad," the source told Xinhua on condition of anonymity.

The source also said the U.S. forces found a large amount of small arms, rocket-propelled grenades and explosive materials in the house during the raid.

Witnesses confirmed that the house is the headquarters of al-Mahdi army in the town.

Later on the same day, the U.S. forces detained 12 Iraqi policemen from a checkpoint in al-Khathra neighborhood in the same town, the source added, without clarifying if there was a relationship between the two incidents.

However, the U.S. military did not confirm the incidents.

The raid comes as Prime Minister Nouri al-Maliki has pledged to crack down on Shiite militia as well as Sunni insurgents in a planned security operation to quell the sectarian violence in Baghdad and other Iraqi areas.

Royal Marines team with Iraqis
Saturday, 24 February 2007

Troops from 539 Assault Squadron Royal Marines and Iraqi Department of Border Enforcement jointly patrol anti-smuggling routes during Operation Thunderbird in the Maysan province of Iraq. Photo by Corporal Andy Benson, RAF.BASRAH — Under Operation Thunderbird, troops from 539 Assault Squadron Royal Marines (539 ASRM) and the Iraqi Department of Border Enforcement (DBE) have carried out anti-smuggling patrols of the Southern Maysaan waterways.
Concealing themselves in the marshes, troops set up observation posts to catch criminals illegally smuggling contraband and weapons into Iraq over the waterways.

Using their fast air boats, the Iraqi Border Police (DBE) patrolled the waters supported by the Royal Marines in their Zodiac raiding craft.

Throughout the operation, the joint force searched all types of craft for illegal contraband and weapons. The surrounding marshlands were searched for hidden weapon caches.

"This type of joint operation is crucial to tackling anti-smuggling and stemming the flow of arms across the border,” said Colour Sergeant Nigel Barlett, 38.

"Working with the DBE is essential as they know this area like the back of their hands. This type of patrol reinforces the message that illegal activity will not be tolerated."

Trained by troops from the British led Multi-National Division (South East), Iraqi DBE police now handle their large fan-propelled air boats with great skill.

They now conduct waterway patrols as an independent capable border patrolling force. Powered by V8 engines, their air boats can travel at more than 55 miles per hour, out-stripping anything else on the waterways.

Southern Iraq’s marshlands constitute the largest wetland ecosystem in the Middle East. In the early 1970s, the interconnected lakes, mudflats and wetlands in the lower Tigris-Euphrates basin, extended over 20,000 square kilometers of Iraq and Iran.

Under Saddam Hussein’s regime 90 percent of the wetlands were lost or damaged by dam construction and drainage operations. This forced the resident Marsh Arabs to move into the towns and cities.

When the regime collapsed in 2003, a UN environmental program began opening floodgates and breaching embankments to bring the water back, supported by local residents and the Iraqi Ministry of Water Resources.

But in addition to the 500,000 Marsh Arabs who returned home, smugglers infiltrated the area, using the water as a convenient highway for moving contraband into the country.

Meanwhile, amid the significant Iraq policy and deployment announcements of this week, the Iraqi Ground Force Command deployed two battalions of the Iraqi Army 10th Division from the south of Iraq into Baghdad, in support of the Baghdad Security Plan.

The two Iraqi Battalions, which are now conducting additional training in the Baghdad area, are the 2nd Battalion of the 3rd Brigade of 10 Division and the 3rd Battalion of the 4th Brigade of 10 Division.

Each has deployed with a small coalition Military Training Team embedded within each Battalion - a small number of US personnel and the four UK regular forces personnel who have providing mentoring and support throughout their training.

Cooperation pays off in Abidone
Saturday, 24 February 2007
Story and photo by Spc. L.B. Edgar
7th Mobile Public Affairs Detachment



New Bern, N.C., native Sgt. Shawn Mackey, a health care specialist with Company C, 299th Forward Support Battalion, 2nd Brigade Combat Team, 1st Infantry Division, assesses the health of a 6-year-old Iraqi baby during a medical assistance mission in the village of Abidone inside the Bay Al Sabir High School of the Abu Ghraib district of Baghdad. The event was to thank the community for its continued support of coalition and Iraqi security forces by offering health and dental care to the village's residents.CAMP LIBERTY — Raad Rashed Abed Al Shibli, the sheik of Al Shibli of the Al Amri tribe, supports coalition forces and the Iraqi government, even though he has lost 17 first cousins and two brothers at the hands of insurgents.

“We’re cooperating and informing (theCoalition forces and Iraqi Army) about bad people here,” Shibli said through an interpreter during a medical assistance mission in the village of Abidone inside the Bay Al Sabir High School of Baghdad’s Abu Ghraib district, Feb. 17.

The mission to provide health care to the residents of Abidone was meant to reward people like Shibli for their sacrifices and trust in Iraqi security forces and the coalition.

With travel hampered by poor transportation security, many of the Abidone residents are unable to receive health care outside of the village. By bringing the clinic to the people, those in need were at the very least screened, Shibli said.

The check-ups were a thanks to the people from the coalition for past support, said Capt. Ryan Liebhaber, commander, Troop A, 1st Squadron,, 89th Cavalry Regiment, 2nd Brigade Combat Team, 10th Mountain Division (Light Infantry).

“The local leadership is completely willing to work with the Coalition. We’re trying to pay them back for the help they’ve given us as well as build rapport with the local nationals,” said the native of Centerville, Ohio.

Building a rapport with local nationals was not restricted to Soldiers. The rapport between the Iraqi army and the Abidone community was also strengthened by the event, Shibli said.

“The other good thing is you guys (coalition forces) brought (the) Iraqi military with you. This will increase their reputation and (foster) a better relationship (between the Iraqi army, tribes and sheiks),” Shibli explained. “We’re expecting the government to saddle up, put their differences aside and let the IA and everyone do their job right.”

Shibli, other local sheiks and Abidone leaders met with the platoon leader of the Iraqi army unit responsible for the mission’s security, 2nd Lt. Muhammad Khalid Mohsin, with the quick reaction force of 2nd Battalion, 3rd Brigade, 6th Iraqi army Division.

Mohsin discussed the needs of the community and how the IA could help the people of Abidone. Cell phone numbers were exchanged in case of future emergencies, he said

Building Iraqi confidence in their army was part of the mission, said Capt. Warrick Craig, contract and project manager for 1st Battalion, 7th Field Artillery Regiment, 2nd BCT, 1st Inf. Div.

“What we’re trying to do is get them (IA) more interested in this community and in turn that will develop the local populace’s confidence in the IA,” said the native of Sparkman, Ark. “We just want to put an Iraqi face on it to show them that regardless of where we live at, we can all work together and that’s the future of Iraq.”

Seven health care providers and one dentist, screened and treated patients for health issues and remedied the conditions whenever possible. The medical staff was pulled from across the Multi-National Division-Baghdad and provided medical assistance to more than 100 Iraqis, said Maj. Michael Philbin, 1-7th FA’s executive officer.

“I think it was a great success because we were able to integrate the Iraqi army, who handed out toys for the kids, food and candy, and other humanitarian-assistance items,” said the native of Fairport, N.Y. “It gives the people a chance to see they’re providing security and providing for them and that’s what really matters because some day we won’t be here doing this anymore. It will just be them.”

As expected, the people of Abidone reciprocated by providing intelligence to Soldiers and IA, just as Shibli has done for so long.

“Before we even started we had our first tip,” Philbin said. “Before the first patient was ever seen, one of the local nationals came up and gave us a tip about some (Anti-Iraqi forces).”

The tips just keep on coming from the Abidone village.

Iraqi Army takes reins in Fallujah
Saturday, 24 February 2007
FALLUJAH — The war in Iraq is changing gears and taking a new direction; the battles are now fought by Iraqi forces with Coalition assistance. Coalition forces are working on a daily basis with Iraqi Security Forces on patrols, as well as conducting operations in support of ISF.
The Iraqi Army’s 1st Battalion, 2nd Brigade, 1st Iraqi Army Division, patrolled its area of operation recently to gather intelligence for future operations. The IA was supported by a fire team of Marines from a Military Transition Team during the patrol.

“We did a dismounted patrol and headed south to one of the major roads in Fallujah so the IA could gather intelligence,” said Cpl. Daniel P. Kennedy, a 23-year-old rifleman from Harrison, Mich. “We patrolled down an extremely dangerous street, but I was surprised by how well the (Iraqi) Soldiers patrolled. It is definitely different than patrolling with Marines, but they do a really good job. They are really squared away when they are on patrol.”

The teams charged with assisting the Iraqi Army are Military Transition Teams. A typical patrol for an MiTT team consists of only a fire team of Marines with the rest of the squad comes from the Iraqi Army. The Iraqis lead the patrols and run the show; Marines are only on the patrol to provide additional security and make suggestions for changes during debriefs once the patrol is complete.

“They are much better than I expected. Of course they have things to work on, but they are very good,” said Marine Corps Sgt. James D. Polich, a 37-year-old rifleman from St. Louis. “I think it is very good to get them out there and show their presence.”

The Iraqis are very organized, Kennedy said. One thing that struck Kennedy was the manner in which the Soldiers utilized intelligence from the field to plan and conduct their operations. Such organization is an essential element to decreasing the role Coalition forces play in the security of the region.

“The more they can get out there the better they will get, so when we eventually leave they can do the best of their abilities,” he added.

Iraqi Soldiers have an advantage over the Marines who assist them on patrols; they know the local customs and speak the language. They have the ability to set the people at ease whose home is being used as an over-watch position, or during snap-vehicle check points. They can communicate exactly what they want the driver and passengers to do.

Many of the Soldiers made a point to speak and shake hands with any citizens who ended up getting caught inside of their patrol to let the people know they are in the city to provide security for the citizens of Fallujah.

They continuously show good intentions for the city of Fallujah and its citizens. The Iraqi Army has at times run into trouble in Fallujah, mostly because Fallujah is a Sunni city while most of the 2nd Brigade Soldiers are Shia and have been viewed as a foreign force.

“The people need to see that the IA are the good guys, and they aren’t here to do bad things. They are here for the betterment of Iraq, not only Fallujah,” Kennedy said.

The IA continues to patrol the streets diligently to improve their skills and rid the city of terrorists. They have also begun to work with the Iraqi Police on various operations, either supporting the police or vice versa.

(U.S. Marine Corps story by Lance Cpl. Stephen McGinnis, Regimental Combat Team 6)

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