“It will end in two months”… Discounts on Iraqi oil due to the Strait of Hormuz

Trade sources reported on Tuesday that the Iraqi State Oil Marketing Company (SOMO) has offered significant discounts on official selling prices for Basra Medium and Heavy crude to contracted buyers, with the aim of encouraging oil imports from its terminal in the Gulf during the month of July. An oil expert confirmed that these discounts came as a result of the exceptional circumstances related to the Strait of Hormuz crisis, and will gradually decrease. Iraqtravel guides

Reuters, citing reliable trade sources, reported that the discount on Basra Medium crude ranged between $14 and $16 per barrel, while the discount on Basra Heavy crude ranged between $16.80 and $18.80 per barrel, depending on the loading period.

She added that discounts are greatest for shipments loaded between July 1 and 5, before decreasing for shipments loaded between the 6th and 10th of the month, and then for shipments between July 11 and 31.

The agency noted that SOMO had asked buyers to submit their requests for the required quantities within one day of receiving the letter, while quoting trade sources as saying that large discounts might encourage buyers, but questions remain about the possibility of crossing the Strait of Hormuz to transport the shipments.

Commenting on this, oil expert Hamza al-Jawahiri told Shafaq News Agency that the Iraqi Oil Marketing Company indicated that some purchasing companies have become reluctant to buy Iraqi shipments or are hesitant to purchase them due to tensions related to the Strait of Hormuz crisis.

Al-Jawahiri added that Iraq preferred to sell oil at limited discounts rather than stop sales, because continuing exports is better than stopping them completely, expecting that these measures would not last more than one to two months.

He explained that the discounts will begin to gradually decrease as fears subside and purchasing activity returns to normal, so that Iraqi oil selling prices return to their usual levels.

On Tuesday, Iraqi crude oil prices fell, coinciding with a decline in global oil prices.

Basra Heavy crude fell to $60.66 a barrel, down $0.39 or 0.64%, while Basra Medium crude dropped to $62.76 a barrel, down $0.39 or 0.62%.

Globally, Brent crude futures fell to $72.74 a barrel, down 0.56%, while West Texas Intermediate crude dropped to $70.50 a barrel, down 0.28%.

The daily charter rate for a supertanker to ship two million barrels of crude oil from the Middle East to China rose to about $300,000 from about $220,000 on February 27, before the United States and Israel launched strikes on Iran, but data from the London Stock Exchange Group indicates that it has fallen from its peak of nearly $600,000 last March.

Last week, SOMO issued a tender for the sale of crude oil scheduled to be loaded in July, but another source said the company did not receive interest from buyers due to the difficulties traders faced in booking oil tankers to enter the Gulf.

Other Middle Eastern oil producers are continuing to load oil, but shipping traffic in the Strait has slowed following new attacks on vessels and renewed strikes between the United States and Iran in the past few days.

Shafaq.com

The Ministry of Finance and the Supreme Judiciary are coordinating mechanisms to prosecute corrupt individuals and recover public funds.

Finance Minister Faleh Sari met with the head of the Supreme Judicial Council, Judge Faiq Zaidan, on Tuesday to discuss ways to enhance cooperation and coordination between the executive and judicial authorities to protect public funds and follow up on the recovery of funds obtained from corruption.

The ministry stated in a statement received by Shafaq News Agency that the meeting discussed mechanisms to enhance procedures related to the recovery and deposit of public funds in accordance with the approved legal frameworks, in order to ensure their preservation and protection from waste.

Sari stressed that protecting public funds is a shared national responsibility, emphasizing the ministry’s commitment to supporting efforts to prosecute those involved in corruption, thereby enhancing citizens’ trust in state institutions and enshrining the principles of integrity and the rule of law.

These official moves come in conjunction with an escalating campaign of measures launched by the government at dawn last Sunday, targeting officials, members of parliament, and businessmen, which Prime Minister Ali al-Zaidi described as the “first phase” of a broader path to recover public funds, directing oversight bodies to be on alert to receive any indications related to corruption files or institutional shortcomings.

In a related context, the Strategic Center for Human Rights warned this morning against misleading campaigns aimed at spreading frustration by claiming that anti-corruption efforts will stop or that they will not reach the “big fish,” considering these attempts an effort to undermine public confidence in the ongoing governmental and judicial procedures.

Shafaq.com

For the fourth time in 2026, Iraq is out of the list of the largest holders of US Treasury bonds.

Data from the US Treasury Department for April 2026 showed that Iraq remained absent from the list of the largest foreign holders of US Treasury bonds for the fourth month of this year, while Saudi Arabia and the UAE reduced their holdings of these bonds compared to March. Iraqeconomic reports

According to data reviewed by Shafaq News Agency, Japan topped the list of the largest holders of US Treasury bonds with approximately $1.209 trillion, followed by the United Kingdom with $937.5 billion, and then China with $651.1 billion.

The data showed that Saudi Arabia reduced its holdings to $140.1 billion in April, compared to $149.6 billion in March, a decrease of $9.5 billion.

Holdings in the United Arab Emirates also declined to $112.5 billion, compared to $114.1 billion in March, a decrease of $1.6 billion.

Total foreign holdings of US Treasury securities reached $9.352 trillion at the end of April, compared to $9.349 trillion in March, registering a slight increase.

Iraq did not appear in the list of major foreign investors, which means that its holdings – if any – fall under the category of “all others”, or are below the level that qualifies it for separate inclusion in the monthly report.

Shafaq.com

Anti-corruption campaign: Immunity lifted from three Iraqi MPs… and fugitive officials pursued in connection with the oil and ports file.

A responsible judicial source stated on Tuesday that the competent courts have lifted the legal immunity of three members of the Iraqi parliament in preparation for completing legal procedures and executing summons orders against them in cases related to financial corruption. Iraqipolitical analysis

The source explained, in a statement to Shafaq News Agency, that the decision to lift the immunity came based on official requests submitted by the judicial and regulatory authorities concerned with combating corruption, after evidence and indicators were available that required the concerned MPs to appear before the judiciary to hear their statements and to verify the charges against them.

In a related context, the source revealed additional details regarding the recent field procedures that affected a fourth deputy, Mudar Al-Karawi, confirming the release of one of his sons, while it was decided to keep the other son in detention to complete the investigations, after they were arrested with him during the raid that was carried out at dawn last Sunday.

In connection with this, the head of the Diyala Provincial Council, Omar al-Karawi, stated yesterday, Monday, that the arrest of his brother, MP Mudhar al-Karawi, “cannot be separated from his political positions,” while emphasizing his high confidence in the Iraqi judiciary, and considering that the truth will become clear through official judicial procedures.

Regarding parallel legal proceedings, an informed source told the agency that orders have been issued to pursue officials who fled the country in connection with recent corruption cases. The source confirmed the escape of Mohammed Halim, the director of the office of the former Deputy Minister of Oil for Distribution Affairs, Ali Ma’araj Al-Bahadli, who is currently detained. The source also indicated that the former Director General of the General Company for Iraqi Ports, Farhan Al-Fartousi, has also fled, following the issuance of new judicial warrants against them.

These successive judicial and security steps come in the context of an escalating campaign of measures in the country, which targets officials, members of parliament, and businessmen, within a path that the government has pledged to continue in order to enforce the law and recover public funds.

Shafaq.com

Exclusive: Behind the scenes of “Operation Dawn” from Washington: Al-Zaidi gave the leaders a choice: money or arrest

The broad anti-corruption campaign launched by Iraqi Prime Minister Ali Faleh al-Zaidi has garnered attention and welcome within political and security circles in Washington, amid assessments that this step could strengthen his position ahead of his anticipated visit to the White House, if it succeeds in translating reform slogans into sustainable measures.

Al-Zaidi is preparing to visit Washington in mid-July to meet with US President Donald Trump at the White House, according to a joint statement issued earlier this month by the Prime Minister and US Special Presidential Envoy Tom Barrack.

A wave of arrests began at dawn on Sunday, targeting political officials, members of parliament, and businessmen as part of an anti-corruption campaign, which Al-Zaydi described during a cabinet meeting as the “first phase” of broader measures to recover public funds, while tasking oversight bodies with receiving any indications related to cases of corruption or negligence in state institutions.

In this context, Paul Davis, a professor of cybersecurity at the Institute for Global Policy and a former official at the U.S. Defense Intelligence Agency, said that the recent wave of arrests represents “a step that the United States and the international community have been waiting for for years.”

Davis, who previously oversaw political and military analysis files on Iraq, Iran, and Syria at the US Department of Defense, explained to Shafaq News Agency that corruption has been for decades one of the most prominent obstacles hindering the development of the relationship between Baghdad and Washington, as well as being a major factor in weakening Iraqi state institutions.

The American expert revealed behind-the-scenes details that preceded the implementation of the campaign, indicating that Prime Minister Ali al-Zaidi held a crucial meeting with Iraqi political leaders, during which he informed them of the necessity to return the funds suspected of being seized, warning that failure to do so would lead to the issuance of arrest warrants against those involved.

He added that the recent moves reflect al-Zaidi’s commitment to the promises he made since taking over the premiership, noting that Washington views these measures as a practical test of the Iraqi government’s ability to enforce the rule of law and restore the confidence of the international community.

Davis believed that the campaign would have mixed results both domestically and internationally. On the one hand, it would raise al-Zaidi’s political and diplomatic standing during his upcoming meetings with American officials, as an indication of his government’s seriousness in combating corruption. On the other hand, it might open the door to an internal political crisis, because a number of those targeted occupy influential positions within the political class and the Iraqi parliament.

He noted that decision-making circles in Washington, despite their clear welcome of the campaign, will closely monitor its developments, not only in terms of the number of arrests, but also through its ability to continue and reach judicial rulings and recover public funds, away from selectivity or political pressure.

Davis concluded by saying that the success of the campaign would give al-Zaidi’s government political momentum at home and boost the confidence of the United States and Iraq’s international partners in its ability to implement real reforms, while its failure would revive old doubts about the Iraqi state’s ability to confront powerful corruption networks.

Shafaq.com

A large American convoy moved from Jordan towards Baghdad

A security source in Anbar province revealed on Monday that a large American convoy carrying military equipment moved from Jordan towards the Al-Suqur checkpoint in Fallujah, heading towards Baghdad.

The source told Al-Maalomah News Agency that “an American convoy consisting of trucks carrying armored Land Cruisers, as well as black pickup trucks, arrived at the Al-Suqur checkpoint in Fallujah, coming from Jordan. Further details regarding the convoy’s movement towards Baghdad are unknown, as part of an unclear plan to gradually and discreetly redeploy US forces in Iraq.”

The source added that “US forces imposed strict security measures as the convoy moved from Jordan through areas west of Anbar until it reached the Al-Suqur checkpoint towards Baghdad,” noting that “security forces stationed in Anbar province have observed suspicious American movements recently.”

Aalmaalomah.me

Is it true that the Sudanese man is being held under house arrest in the Green Zone?

MP Kamel Anid, from the Reconstruction and Development Coalition, confirmed today, Monday, his coalition’s absolute support for the legal and judicial measures taken against those wanted for justice, while warning at the same time of systematic campaigns led by corrupt individuals to confuse matters and mislead public opinion.

Anid told Al-Maalomah that “the Reconstruction and Development Coalition is based on a firm belief in the principle of the rule of law and the independence of the judiciary, stressing its full support for referring all corruption cases to the competent courts, and proceeding with them in accordance with constitutional and legal frameworks to consolidate the principle of accountability and responsibility, away from any political considerations or pressures.”

Anid added that “the last few days have witnessed an escalation in smear campaigns and the circulation of false information by parties involved in corruption, with the aim of achieving narrow political goals,” stressing “the need to rely on official narratives and accurate information issued by the competent authorities to block attempts to falsify the facts.”

In a related context, the MP from the Reconstruction and Development Coalition refuted “the information circulating regarding the detention of the head of the coalition, Muhammad Shia al-Sudani, and the imposition of house arrest on him inside the Green Zone, in the center of the capital, Baghdad, after the dawn raid on Sunday, indicating that there is no truth to this information.”

The government’s crackdown early Sunday morning resulted in the arrest of 47 individuals accused of corruption, including 12 members of parliament, as well as prominent government officials and politicians. The government affirmed its continued pursuit of corrupt individuals in Baghdad and the provinces.

Almaalomah.me

A politician reveals that the arrest of Al-Sudani and Al-Halbousi has been postponed until the next round of arrests.

The director of the Iraqi Media Center in Washington, Nizar Haider, revealed on Monday that the arrest warrants for the head of the Progress Alliance, Mohammed al-Halbousi, and former Prime Minister Mohammed Shia al-Sudani remain in effect and will be executed within the next few days on charges related to corruption and money laundering.
Haider told Al-Maalomah News Agency that “the Integrity Commission will execute arrest warrants within the next few days against former Prime Minister Mohammed Shia al-Sudani and the head of the Progress Alliance, Mohammed al-Halbousi, for their involvement in stealing huge sums of money and transferring them to foreign banks, in addition to possessing a fortune equivalent to the budgets of some countries.”

He added that “the US Federal Reserve has placed al-Sudani and al-Halbousi at the top of its list of most wanted individuals for their involvement in corruption cases during their tenure in leadership positions in the central government,” clarifying that “the arrest of al-Sudani and al-Halbousi has been postponed until the coming days, and what has been rumored about political settlements to cancel the arrest warrants is baseless.”

He added that “Prime Minister Ali al-Zaidi’s office, in coordination with the Counter-Terrorism Service, will pursue those involved in stealing huge sums of money from the country’s treasury in hard currency and imprison them to recover the stolen funds.”

Almaalomah.me

Al-Zaydi: I will not receive a salary and I will not accept a gift… and the employees’ salaries are guaranteed.

Prime Minister Ali Al-Zidi confirmed on Monday that the salaries of state employees are secure and regular, while renewing his pledge not to receive a salary or accept any gift, and announced proceeding with the establishment of an energy and development fund.
Al-Zaydi said in a press statement followed by Al-Furat News that “the salaries of state employees are secured and regular, and we are very keen on this point,” indicating that “the size of the debt at the beginning of the government’s work amounted to about 208 trillion dinars, while the budget depends on oil by 93%, compared to 7% non-oil revenues.”

He added: “I will not receive a salary, nor will I accept a gift, even if it is a necktie, and my hands will not touch public money,” stressing that “the government will direct the Minister of Finance to open a special account to recover Iraq’s money from those who were involved with it, and we will take a different stance with anyone who refuses to return it.”

He pointed out that “the National Sovereignty Conference will be announced at the end of this year, and will enshrine the monopoly of power in the hands of the state and its agencies only,” noting that “the government will not run for another term and will not establish a political party, nor will it allow any dictates from outside the borders, neither from the East nor from the West.”

Al-Zaidi explained that “his next visits after Washington will be to Türkiye, Iran and Saudi Arabia, in addition to receiving invitations to visit France, Britain and Germany.”

On the economic front, Al-Zaydi announced the establishment of the “Energy and Development Fund” with contributions from the Central Bank of Iraq, which will be offered for public subscription. He indicated that the government will extend an invitation to Saudi Arabia, the UAE, and Qatar, in addition to American and European banks, to contribute to the fund, which will focus on financing development, industry, agriculture, and other sectors.

Alforatnews.iq

The Ministerial Council for the Economy issues new decisions

The Ministerial Council for Economy issued today, Monday (June 29, 2026), a number of decisions aimed at regulating the work of border crossings and unifying customs and tax procedures between the federal government and the Kurdistan Regional Government, in order to enhance revenue management and reduce unofficial crossings.

The Media Office of the Ministerial Council for the Economy stated in a statement that “the Minister of Finance and Acting Minister of Planning, Faleh Al-Sari, held a session in the presence of the Ministers of Trade, Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Vice President of the National Investment Commission, the Advisor to the Prime Minister for Legal Affairs, and the Director-General of the Economic Department in the Ministry of Oil.

He added that “the session witnessed the hosting of a delegation from the Kurdistan Regional Government headed by the Minister of Finance of the region, and included a number of senior officials concerned with the financial and customs files, in addition to the head of the Border Ports Authority, the Undersecretary of the Federal Ministry of Finance, the Directors General of the Customs and Tax Authorities, and representatives of the ASYCUDA system implementation project.”

The council discussed “the results of the work of the joint committees between Baghdad and Erbil regarding the unification of customs and tax procedures at border crossings, and the mechanisms for implementing the ASYCUDA system, as well as the technical and administrative obstacles facing the implementation of the project.”

Following a discussion of the technical report submitted by the joint team, the Council decided to “form a joint committee headed by the Federal Border Ports Authority, which will conduct a comprehensive survey of the border strip and visit the unofficial ports and crossings, and prepare a report that includes an assessment of the ports that meet the legal and technical conditions for converting them into official ports, while closing the ports that do not meet the conditions and assigning the Federal Border Forces Command to implement this.”

The Council tasked the Federal Ministry of Finance, in coordination with the Ministry of Finance in the Kurdistan Region, with preparing a unified booklet of customs exemptions and allowances, in preparation for submitting it to the Council of Ministers for approval and dissemination to all border crossings, in order to ensure the standardization of procedures.

The council also decided to “submit joint proposals to the Cabinet regarding the mechanism for collecting revenues at the border crossings of the Kurdistan Region, in order to strengthen the unification of financial resource management and consolidate coordination between the federal government and the region.”

The Ministerial Council for the Economy affirmed that “these measures are part of the efforts for economic and administrative reform, developing the management of border crossings, and unifying customs and tax systems, which will enhance transparency, raise the efficiency of revenue collection, and regulate trade between Iraq and neighboring countries.”

Burathanews.com