US Representative Mike Waltz plans to introduce an amendment to designate Iraq's Supreme Judicial Council and its President, Judge Faiq Zaidan, as 'assets controlled by Iran.' In response, Nechirvan Barzani, the President of the Kurdistan Region, expressed his support for Judge Zaidan and rejected any attacks or insults against him. Barzani's statement comes as Washington expresses readiness to be more 'flexible' with Iraq [b7862f4f].
US President Joe Biden hosted Iraqi Prime Minister Mohammed Shia al-Sudani at the White House to discuss the bilateral relationship between the two countries. The meeting took place after Iran launched a weekend aerial assault on Israel, which raised tensions in the region. Some of the attacks overflew Iraqi airspace, while others were launched from Iraq by Iran-backed groups. The US has a delicate relationship with Iraq due to Iran's influence in the country. The US praised Israel's defense against the Iranian attack and urged all parties to avoid further escalation. The talks between President Biden and Prime Minister al-Sudani also focused on economic, trade, and energy issues, as well as the ongoing conflict between Israel and Hamas in Gaza. The US and Iraq have been engaged in formal talks since January about winding down the coalition fighting the Islamic State, with some US troops remaining in Iraq. The meeting between President Biden and Prime Minister al-Sudani comes at a critical time as Iranian proxies continue to target US interests in the region from inside Iraq [c4cbc11b].
During his visit to the US, Iraqi Prime Minister Mohammed Shia al-Sudani outlined significant energy projects and investment opportunities in Iraq. He met with major American oil and gas companies in Houston, Texas, to discuss maximizing investment in the country's oil and gas sector. Al-Sudani discussed strategic projects and investment opportunities, including the fifth and sixth supplemental rounds encompassing 30 oil and gas fields and an exploratory gas block in various regions of Iraq. He announced an extension of two weeks for submitting applications for the fifth and sixth rounds. Al-Sudani also revealed plans to convert 40% of Iraq's exports into petroleum derivatives, reduce the cost of gas imports, and detailed ongoing projects to enhance Iraq's energy sector, including a 1000 MW solar power station and a water injection project for wells. He invited American companies to partner with the Iraqi private sector and emphasized the importance of US-Iraq relations in energy cooperation [7cbe949c].
The Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammad Saleh, announced that the executive authority will now directly oversee the work of foreign investors in Iraq. This initiative aims to support and sustain foreign investment activity and cultivate a favorable working climate for U.S. investors. Prime Minister Mohammed Shia' al-Sudani has committed to providing facilitations for foreign companies operating in Iraq and fostering an enabling investment environment. These initiatives are part of broader efforts by the Iraqi government to attract increased foreign investment and stimulate economic activity within the country [67aabfd0].
In a meeting with the Chair of the Governing Board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow, Iraqi Prime Minister Mohammed Shia al-Sudani discussed financial and banking reforms. They talked about measures adopted by the Iraqi government to improve the Iraqi economy and achieve development. The government reached agreements with international consulting companies specializing in banking reform. Al-Sudani emphasized the need to continue cooperating with the US Department of the Treasury, the US Federal Reserve, the International Monetary Fund (IMF), and other international financial institutions. Zelikow commended the efforts of the Iraqi government in activating, developing, and rehabilitating government and private banks. JP Morgan expressed support for the initiatives of the Iraq Development Fund and its readiness to offer assistance in training and partnerships. Al-Sudani also discussed JP Morgan's possible participation in the Iraqi government's efforts to adopt electronic payment applications in Iraqi markets. They reviewed the Central Bank of Iraq's (CBI) and JP Morgan's technological efforts to generate concepts for digital currency trading for central banks. Al-Sudani expressed eagerness to see JP Morgan and the Iraq Development Fund work together more closely. Iraq is making progress toward banking and financial reform to support industry growth [8c4fc486].
Prime Minister Shia Sudani seeks to shift U.S.-Iraqi ties beyond security focus to build a more multifaceted partnership. Iraq wants to discuss economic development and regional integration, while the U.S. wants to discuss Iraq's relationship with Iran. The deteriorating situation in the Kurdish north is an elephant in the room. The United States should foster a more empathetic relationship with Baghdad, transition its troop presence to an advisory role, assist the Kurdish region, and support Iraq's system rather than any individual leader. Iraq seeks a new kind of partnership with the United States, focusing on economic diversification and cooperation in sectors like telecommunications, healthcare, and transportation. Iraq's regional integration efforts are progressing, particularly in repairing ties with Turkey through the Development Road project. The Kurdish region is facing political, economic, and social crises, with internal conflicts within major parties and tensions between the Kurdistan Democratic Party and the Patriotic Union of Kurdistan. The region's financial future is dependent on Baghdad, and parliamentary elections have been delayed. The United States should have more empathy in its relationship with Iraq, redefine its troop presence, assist the Kurdish region, and support the system rather than any one leader. Prime Minister Sudani has taken steps to build confidence in Iraq's future, but challenges remain [625509f2].
Former Iranian president Mahmoud Ahmadinejad has criticized the foreign policy of Supreme Leader Ali Khamenei and expressed his willingness to engage in economic relations with the US and hold talks with former US President Donald Trump. Ahmadinejad questioned the binary division between East and West in foreign policy, stating that the most significant economic relationship exists between China and the US. He asked what impediment exists for US investment in Iran's oil industry and lamented the prolonged conflict with the US. Ahmadinejad's remarks come after his disqualification by the Guardian Council for the forthcoming snap presidential election. He was also barred from running in the 2017 and 2021 presidential elections. Ahmadinejad paid tribute to the era of the Pahlavi monarchy, acknowledging their contributions to the country. He has remained mostly silent in recent years to avoid backlash from loyalists allied with the Supreme Leader. Ahmadinejad has been outspoken on regime corruption and clandestine activities, admitting that Israel's Mossad successfully stole significant documents concerning Iran's nuclear pursuits. In 2021, he alleged that the highest-ranking Iranian intelligence official tasked with thwarting Israeli espionage was actually an operative for Israel [47a8f866] [13fb0ad0].