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Iraq: US Did Not Impose Conditions over Dollar Crisis

Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
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Iraq: US Did Not Impose Conditions over Dollar Crisis

Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)
Foreign Minister Fuad Hussein speaks at a press conference in Baghdad on Monday. (INA)

Iraq denied claims that the US had imposed conditions on its delegation, which recently visited Washington, regarding the dollar exchange issue.

An Iraqi delegation, headed by Foreign Minister Fuad Hussein, had visited Washington and met with Secretary of the State Antony Blinken earlier this month.

During a press conference in Baghdad on Monday, Hussein denied that conditions were imposed on the delegation, noting that the electronic platform launched by the Central Bank of Iraq (CBI) would determine benefit from the dollars and help end smuggling.

He explained that the delegation included officials from various sectors, including senior officials from the financial and banking industries. He added that the visit addressed political issues, but mainly focused on the economy, fighting corruption, and combating ISIS terrorism.

He assured the Iraqi people "the financial and oil cover proves that the Iraqi currency is strong," adding that the dollar crisis occurred because of the electronic financing system.

Moreover, he revealed that the SWIFT platform had uncovered many manipulations and counterfeit bills. It will help stop and prevent dollar smuggling and determine the number of dollar bills in the market.

Hussein indicated that Iraq is a "consumer society" and imports many of its needs, which requires the availability of dollars, noting that Iraqi reserves exceeded $100 billion.

He added that it is only a matter of time before the exchange rate stabilizes.

The minister also denied reports that Iraq was seeking to normalize relations with Israel, asserting that it was not discussed with the US officials or any political blocs.

Meanwhile, the US Treasury announced that Iraq's possession of US bonds rose to more than $40 billion.

The Treasury said Iraq's possession of US Treasury bonds surpassed $40 billion, rising from $39.717 billion in October 2022. This marked an increase of 81.4 percent compared to the same month in 2021.

Iraqi bonds, including long-term guarantees, amounted to $28.239 billion, and short-term guarantees amounted to $12.575 billion, representing 0.55 percent of the world's bonds.

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UN Envoy: What We See in Syria is a Mark of Collective Failure

Resolution 2254 was adopted by the Security Council on 18 December 2015 (UN archive)
Resolution 2254 was adopted by the Security Council on 18 December 2015 (UN archive)
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UN Envoy: What We See in Syria is a Mark of Collective Failure

Resolution 2254 was adopted by the Security Council on 18 December 2015 (UN archive)
Resolution 2254 was adopted by the Security Council on 18 December 2015 (UN archive)

United Nations Special Envoy for Syria, Geir Pedersen, said on Sunday he is closely monitoring the situation on the ground in Syria, where a dramatic shift in frontlines was seen in recent days.
“What we see in Syria today is a mark of a collective failure to bring about what has plainly been required now for many years – a genuine political process to implement Security Council resolution 2254,” the envoy said in a statement.
Pedersen noted that in Syria, a country torn by nearly 14 years of war and conflict, the latest developments pose severe risks to civilians and have serious implications for regional and international peace and security.
As an immediate priority, he said, “I strongly emphasize the urgent need for all to uphold their obligations under international law to protect civilians and civilian infrastructure.”
“This is a clear message to all parties engaged in hostilities of any kind. I will continue to push for civilian protection and deescalation,” the envoy added.
Pedersen then recalled the times he repeatedly warned of the risks of escalation in Syria, of the dangers of mere conflict management rather than conflict resolution, and the reality that no Syrian party or existing grouping of actors can resolve the Syrian conflict via military means.
“I call for urgent and serious political engagement – among Syrian and international stakeholders - to spare bloodshed and focus on a political solution in accordance with Security Council resolution 2254,” he said.
The envoy then affirmed his will to continue to engage all parties and stand ready to use my good offices to convene international and Syria stakeholders in new and comprehensive peace talks on Syria.
Presented by the US, Resolution 2254 was adopted by the Security Council on 18 December 2015.
It emphasizes the need for all parties in Syria to take confidence building measures to contribute to the viability of a political process and a lasting ceasefire, and calls on all states to use their influence with the Syrian government and the opposition to advance the peace process, confidence building measures and steps towards a ceasefire.
The resolution also expresses support for a Syrian-led political process that is facilitated by the UN and, within a target of six months, establishes credible, inclusive and non-sectarian governance and sets a schedule and process for drafting a new constitution.
Since the adoption of the resolution, Geneva has hosted several meetings of the parties involved in the conflict in Syria. However, those parties failed to reach an agreement, especially after Moscow established in 2017 the Astana dialogue followed in 2018 by the Sochi process.
Resolution 2254 calls on the release of any arbitrarily detained persons, particularly women and children, and on the International Syria Support Group (ISSG) states to use their influence immediately to these ends.
It demands that all parties immediately cease any attacks against civilians and civilian objects as such, including attacks against medical facilities and personnel, and any indiscriminate use of weapons, including through shelling and aerial bombardment.