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NATO Secretary General: Allies are considering joint options to reopen the Strait of Hormuz

NATO Secretary General Mark Rutte confirmed on Wednesday that the allies are considering joint options for reopening the Strait of Hormuz, stating in a press conference: “The allies are considering joint options for reopening the Strait of Hormuz.”

US President Donald Trump has previously criticized his allies for their reluctance to participate in reopening the Strait of Hormuz, a crucial shipping lane off the coast of Iran, which Iran has vowed to keep closed. Meanwhile, Russian Foreign Ministry spokeswoman Maria Zakharova asserted on Wednesday that Russia believes the resumption of maritime traffic through the Strait of Hormuz can only be achieved through negotiations.

Burathanews.com

Bloomberg: China is close to tapping into its oil reserves

China, the world’s largest importer of crude oil, is on the verge of tapping into its strategic oil reserves as the war in the Middle East continues with no sign of ending.

According to Bloomberg on Wednesday, FGE Nexant, a leading industrial consulting firm, predicted a decline in commercial and operational inventories of up to 1 million barrels per day over the next four weeks, based on its baseline scenario.

She added that processing plants, particularly in southern China, may be allowed to rely on commercial stockpiles to limit the extent of production cuts or prevent shutdowns.

She added that it is a bargaining chip that China can use. After more than a year of intensive stockpiling, Beijing has amassed an estimated 1.4 billion barrels of reserves that could be exploited if the Strait of Hormuz remains effectively closed.

Almaalomah.me

Al-Saadi: Al-Maliki is still the framework candidate to form the government, and the American veto will not affect him.

Former MP Baqir al-Saadi confirmed on Wednesday that Nouri al-Maliki is still the candidate of the coordination framework for forming the government, while he indicated that the American veto will not affect the decision of the political forces.

Al-Saadi told Al-Maalouma that “what is being circulated in some media outlets regarding the intention of the Coordination Framework to change its candidate for the next government is inaccurate, and it is merely speculation that has no basis in fact,” noting that “Al-Maliki is still the Framework’s candidate until now.”

He added that “any American veto will not affect the opinion of the Iraqi political forces in determining the shape of the next government, as it is a sovereign and independent decision,” stressing that “it is unacceptable for Washington or others to determine the course of government formation.”

He indicated that “the formation of the government will be carried out within constitutional and democratic frameworks and with the participation of all political forces,” reiterating that “the ball is now in the court of the Kurdish forces to decide on the identity of the candidate for the presidency, and then move to the final stage of tasking the candidate of the largest bloc with forming the government.”

Almaalomah.me

MP: Voting on Nizar Amidi next week and forming a government is necessary to face the challenges

MP Mansour Hussein revealed on Wednesday that there is a move to hold a parliamentary session next week to vote on the presidential candidate Nizar Amidi, calling for speeding up the completion of constitutional requirements and the formation of the government.

Hussein told Al-Maalomah News Agency that “resolving the presidential issue is a fundamental step towards completing the formation of the government,” explaining that “the continued political deadlock could exacerbate the challenges facing the country.”
He added that “Iraq is directly affected by regional and international tensions, especially the ongoing conflict between the United States and Iran,” stressing that “the current stage requires a strong government capable of protecting national interests.”
He emphasized the need to “overcome political differences and expedite the formation of a fully empowered government to ensure stability.”

Almaalomah.me

MP: No agreement within the coordination framework on a prime ministerial candidate

MP Duha al-Sadkhan confirmed on Wednesday that the Coordination Framework forces have not yet reached a final agreement on a prime ministerial candidate, noting that consultations among political leaders are ongoing.

Al-Sadkhan told the Information Agency that “discussions within the framework are still underway and have not yet reached a conclusion due to differing viewpoints,” indicating that “all options remain on the table.”

She added that “the security and political developments in the region have affected the course of the understandings, requiring more time to reach an agreement,” pointing out that “the goal is to choose a candidate who enjoys broad acceptance and is capable of managing the next phase.”

She indicated that “the current circumstances necessitate that political forces exercise caution to ensure the stability of the political and economic situation.”

Almaalomah.me

Oil price decline threatens Iraq’s credit rating

Standard & Poor’s Global Ratings placed Iraq’s sovereign credit rating at “B-” on negative watch, warning of a possible downgrade due to the repercussions of regional tensions and declining oil production.

The agency stated, according to a report published by Reuters on Wednesday, that the decision came after a sharp decline in Iraqi oil production to about 1.2 million barrels per day, compared to 4.2 million barrels per day, as a result of the de facto closure of the Strait of Hormuz since late February.

The Iraqi economy is heavily dependent on oil, which accounts for about 60% of GDP, 90% of state revenues, and 95% of export earnings, making any disruption in production or exports a direct impact on the financial situation.

The agency noted that the continued decline could put pressure on public finances and external accounts until 2026, despite Iraq having foreign reserves estimated at about $97 billion, covering about 10 months of external payments, with gold constituting about a quarter of them.

It predicted that the government would have to use these reserves to meet its external debt obligations, including outstanding international bonds worth $2.8 billion.

Standard & Poor’s (S&P Global): An American company specializing in credit ratings and financial analysis, it assesses the creditworthiness of countries and companies. It is one of the most prominent rating agencies globally, and its reports affect the cost of borrowing and investor confidence in the markets.

Shafaq.com

Israeli Defense Minister announces assassination of Iranian intelligence chief

Israeli Defense Minister Yisrael Katz announced on Wednesday the assassination of Iranian Intelligence Minister Ismail Khatib, at a time when Tel Aviv spoke of expanding the scope of its operations and raising the level of escalation on the Iranian and Lebanese fronts.

Katz said during a briefing to security officials, according to Hebrew media, that “Israel assassinated the Iranian intelligence minister,” hours after Israeli media reports indicated that an assassination attempt was carried out in Tehran last night, with the results of the operation pending before confirmation.

Katz hinted at raising the level of the war that Israel is waging against Iran and Hezbollah, speaking of “surprises” on various fronts, without clarifying the nature of the escalation, whether through expanding military operations, intensifying assassinations, or a ground incursion.

He added that “Israeli Prime Minister Benjamin Netanyahu has given the army the freedom to carry out assassinations against Iranian leaders without the need for prior approval from the political leadership,” in a new procedure that contradicts the mechanisms previously followed.

Israeli media outlets, including Channel 15, reported that Khatib was the target of an airstrike that targeted the Iranian capital, Tehran, on Tuesday night, noting that his fate remained unclear.

Khatib is the top official in charge of Iran’s Ministry of Intelligence, one of the country’s most prominent security agencies. The US Treasury imposed sanctions on him in 2022, accusing him of overseeing cyber activities and operations targeting dissidents and foreign facilities.

Shafaq.com

Sadiqun holds the coordination framework responsible for the delay in forming the government: The Sudanese are the most likely to succeed.

On Wednesday, MP Mohammed Al-Baldawi, from the Sadiqun parliamentary bloc, held the coordination framework responsible for the delay in forming the new government, while indicating that outgoing Prime Minister Mohammed Shia Al-Sudani is currently the most likely candidate.

Al-Baldawi told Shafaq News Agency that “linking the formation of the new Iraqi government to the end of the regional war is incorrect,” stressing the need to “form the government under these circumstances, which require a sincere national government capable of preserving the security and sovereignty of Iraq.”

He added that “the delay in forming the government is not in anyone’s interest, nor is it in the interest of the Iraqi political forces,” indicating that “Iraq needs a unified and sincere position, and the coordinating framework bears responsibility for the delay in its formation.”

According to Al-Baldawi, the obstacles have been overcome, and all that remains is to elect the president and assign the candidate of the Coordination Framework to form the next government, noting that there are objections to the head of the State of Law Coalition, Nouri al-Maliki.

He continued, saying that “there are a number of candidates, and the criteria must be applied to them,” adding that “the Sudanese candidate is the most likely to win at the moment.”

It is worth noting that a source within the coordinating framework that brings together the ruling Shiite political forces in Iraq told Shafaq News Agency last Monday that the coalition leadership agreed to postpone deciding on a prime ministerial candidate until after the end of the ongoing regional war between the United States and Israel against Iran.

The Coordination Framework had officially nominated Maliki on January 24, a move that opened the door to negotiations to form the new government, but the process faltered as disagreements continued over the election of the President of the Republic, the constitutional entitlement that precedes assigning the candidate of the largest bloc to form the government.

However, al-Maliki’s nomination was met with rejection from some Sunni forces, as well as parties within the Shiite bloc itself, in addition to strong rejection from the American administration, whose president, Donald Trump, threatened at the time that Washington would stop its aid to Iraq if al-Maliki assumed the premiership.

Shafaq.com

Trump: What if we ended the Iranian regime and left Hormuz to others?

On Wednesday, US President Donald Trump raised questions about the future of the regime in Iran, hinting at the possibility of ending it and leaving the responsibility for managing the Strait of Hormuz to the countries that benefit from it.

Trump said in a statement broadcast a short while ago: “I wonder what would happen if we eliminated what remains of the regime in Iran and left the responsibility for the Strait of Hormuz to the countries that use it.”

He added that this proposal “would quickly move some of our unresponsive allies.”

Trump had stated that the United States had “completely defeated Iran” militarily and economically, adding that many countries, especially those affected by the closure of the Strait of Hormuz, should take responsibility for securing it.

Shafaq.com