Update: Needed Laws
So in my last news letter (LINK) I brought you news of Iraq's parliament passing the 2016 budget. The President of the Republic is expected to ratify the budget and so we wait for news that this happened.
I also told you that there is also oil being pumped out of Kurkirk providence, revenue that Baghdad may never see since Kurdistan made a deal and is allowed to sell this oil on their own (new oil agreement). In return they only receive 13% oil revenue shares now from Baghdad. It is a better deal for all involved. So from this article it is obvious some HCL deal was made or else they never would have completed and passed the budget.
Funny how another article came out over the weekend contradicting previous news the finance committee told us previously. Now they are telling us Kurdistan is getting the 17% oil revenue shares. See article below. So what is going on?
To eliminate any confusion in your mind remember the 13% share is for the Kirkuk oil ONLY because they are being allowed to pump more than the allowed government quota of 300,00 barrels per day as set for Kirkuk. But this is for this region only. Now we see a meeting set for today to discuss what just happened in the budget to allow only 13% for this region. Obviously some politicians from Kurdistan were not in favor of this 13% when it came out in the budget.
I quote directly from the article – “share according to the oil agreement between Baghdad and Erbil province, which is required to hand over 550 000 barrels per day of production (250 000 barrels) and the production of Kirkuk (300 000 barrels) AGAINST THE PAYMENT OF ITS SHARE OF THE BUDGET BY 17%.
This also tells us HCL is done and it has been done prior to forming the 2016 budget. Why else would they be disputing the 13% if it was not already law to be 17%?
Can you remember this? Don’t let there be any doubt in your mind that HCL is done! They just told us indirectly that it is done. A Golden Nugget for us today….lol…..
Can you see how they tell us something and unless we are paying close attention we can miss it. Sometimes even the heading on the article is not indicative of the information they are to tell us in the article.
GOVERNMENT OF THE TERRITORY TO MEET TOMORROW TO DISCUSS THE FINANCIAL CRISIS
Economy / Baghdad
Announced the Minister of Environmental Affairs in the province, Abdul Rahman Abdul Rahim, the Minister of the Territory Council will be held on Monday, dedicated to the discussion of the financial crisis session.
He said Abdul Rahim in a press statement, he said that "the Cabinet meeting to be held on Monday, will be dedicated to discuss the crisis Finance in the Kurdistan region and how to solve them.
"He pointed out that" the Council of Ministers in the Kurdistan region has formed a committee to follow up the reform projects, and will be talking about the problems that citizens faced by the financial crisis.
"It is noteworthy that, the Federal House of Representatives voted last Wednesday, approving the budget law Federal Finance in the next 2016, including the Kurdistan region's share amounting to 17%.
The Article IX / I of the budget law: determine the share of the Kurdistan region of 17% of the total actual expenditures are paid from the Federal Ministry of Finance and the approval of the Prime Minister and identified this share according to the oil agreement between Baghdad and Erbil province, which is required to hand over 550 000 barrels per day of production (250 000 barrels) and the production of Kirkuk (300 000 barrels) against the payment of its share of the budget by 17%.
So now what pops out in the news in Iraq? An article by MP for the coalition of state law who is telling us that this compromise in dealing with Kirkuk oil, was to get the budget passed, but is not the final solution to the disputed areas of Iraq.
I like this article (see below) because it is telling the true status of Article 140. Another Golden Nugget for us today.
We have not directly heard much about this lately but we should have realized that the oil deal struck last week with the budget is all interconnected with it. Is this PM just complaining? Do they need a law to implement article 140? This PM makes a good case to the issue they do need a law and what they just did in the budget is a case in point.
He says and I quote from the article – “ there is still deadlock over the disputed areas is the legislation and the application of Article 140 of the constitution”.
He also says and I quote – "must be legislation and the application of this article to avoid future problems and aggravation."
He also says and I quote – “the entry of the Peshmerga forces to these areas does not mean it's settled and become part of the Kurdistan region,"
So contrary to what many of your so called intel “gurus” may tell you that article 140 is all done I have to tell you that it isn’t and will not be until we see some legislation on it from the council of ministers and then passed by parliament. This is still a touchy subject matter with many politicians.
Does this effect their ability to get Article 8 of UN charter (their currency returned to them)?
NO – I do not see this impacting the RV since they have recognized these disputed regions belonging to Kurdistan and are acting accordingly. I believe this is sufficient. Do they really need formal legislation to implement article 140 since this is going to be a point of contention. This legislation may happen someday to quite everyone down but I do not believe it is required..
DEPUTY FOR THE LAW: THE ACTIVATION OF ARTICLE 140 "SOLUTION" TO THE CRISIS ONLY DISPUTED AREAS
Special - scales News
MP for the coalition of state law that fall under the full Zaidi National Alliance, said on Saturday that al-Faisal, the only resolve a deadlock over the disputed areas is the legislation and the application of Article 140 of the constitution.
He said al-Zaidi's / scales News /, that "Article 140 of the constitution is the only al-Faisal resolve a deadlock over the disputed areas with the Kurdistan region," stressing at the same time that he "must be legislation and the application of this article to avoid future problems and aggravation."
He MP for the coalition of state law, that "the entry of the Peshmerga forces to these areas does not mean it's settled and become part of the Kurdistan region," adding that "after the liberation of regions will return to the government in Baghdad after the application of Article 140 of the Constitution."
It is said that "the security and defense committee member Abbas al-Khuzai parliamentary revealed to / scales News /, earlier, about the existence of going to visit the Kurdistan region by the Committee to discuss the outstanding issues regarding the disputed areas" .
So at this time is appears that the news is very quite coming from Iraq. We are at this lull again and this usually means something BIG is in the making and about to pop. We are just waiting in the wings for these needed laws and the newer lower denomination currency to come to us.
What do we know:
We know they have to pass the National Guard law very soon. We know the Parties law was fully effective on Tuesdayand we saw the Anti-Terrorist law now also fully implemented as it was posted in the gazette.
I described to you in a past news letter how the timing of these three new laws was very significant for establishing the needed security of Iraq for the RV going forward.
It was not coincidental on their timing and how it is all being managed so carefully. So there is one piece left to this puzzle and we wait for it. Will it come before the end of the year. I believe this last past piece (the National Guard law) must be passed in parliament and ratified prior to the USA letting the RV go.
We were told a month ago that they would revive the Customs & Tariffs and the implement a new Income Tax also in mid December. This did not happen since they have not yet RV’d their currency. However, we are seeing much very recent debate going back and forth on this topic from economic experts in Iraq on the need to implement both of them and how they could supplement the deficit in the budget. So we know the pressure is on to do something and soon.
Last week we witnessed the passing of the 2016 budget and the compromises being made with Kurdistan in oil revenue sharing from the Kirkuk region from 17% (as required from Article 140 of their constitution) down to 13% (in return for holding on to full revenues beyond government quotas) for Kirkut region oil. So once the budget was published, we saw rumbles of Article 140 pop into the news once again. It is all so very logical and expected at this point.
Update: Fighting ISIS
Kurdish forces backed by coalition air strikes have repulsed the most serious attack by Islamic State group in Iraq in five month.
Among the sites targeted by IS was Bashiqa, where Turkish forces have recently been training Iraqi Kurds, sparking a row with the Iraqi government.
Meanwhile at the UN the 15-member Security Council adopted a resolution aimed at starving IS of funds.
It urges countries to "move vigorously and decisively to cut the flow of funds" to IS, such as by preventing its smuggling of oil and antiquities.
One more item today:
Let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe their success is in part some of the acceleration of the process we are now witnessing.
“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and Coalition Soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be Victorious against them! We ask that the Victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin! Amen!
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,