Iraqi PM replaces Central Bank governor in midst of economic crisis

While the weakening of Iraq's dinar falls in the spectrum of a rising US dollar, sanctions targeting Iraqi banks and restrictions on transfers have exacerbated the problem

Iraq’s Silk Road: Port and canal project set to transform Baghdad’s geopolitical clout

Iraq’s two ambitious trade corridor projects present an opportunity for a beleaguered Baghdad to enhance its geopolitical status and establish economic independence.

Iran, Russia integrate banking systems

52 Iranian and 106 Russian banks integrated their interbank communication and transfer systems for trade and financial operations

The US holds Iraq hostage with the dollar

Since 2003, Iraq is required to send all its oil revenues to a single US bank account. Washington is now weaponizing Baghdad's own dollars against Iraq, by devaluing its currency and hindering payments.

Western sanctions against Iran send Iraqi economy reeling

New policies meant to prevent dollar transfers to sanctioned West Asian nations have sent the Iraqi currency spiraling

Iraq dismantles oil smuggling network involving senior officers

According to official statistics, the smuggled quantities are estimated at 75 million liters per month

Mustafa Al-Kadhimi: The Iraqi PM who did nothing

Following his meteoric rise in Iraqi politics, what has been the legacy of Mustafa al-Kadhimi, and whose interests did he really serve?

Miraculous $10bln profit erases Turkey’s Central Bank losses on last day of 2021

On 31 December, Turkey's Central Bank saw its fortunes shift dramatically, despite having projected losses of around 70 billion liras for the year

Iranian currency hits record low as EU threatens further sanctions

The New York federal bank has been enforcing stricter controls on international transactions by Iraqi commercial banks to hinder Iran from accessing dollars

Global South: Gold-backed currencies to replace the US dollar

The adoption of commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.

No-strings aid from Saudi Arabia is changing, finance minister says

The Saudi finance minister didn’t specify what conditions his government might attach to financial assistance in the future

By the numbers: The de-dollarization of global trade

Data suggests that US dollar reserves in central banks are dwindling, as is the influence of the US on the world economy. This presents a unique opportunity for regional currencies and alternative payment systems to enter the vacuum.

Predictions for 2023? Annus horribilis with some surprising upsides

The Cradle's writers offer up their predictions for 2023. The common theme is massive global shifts, some good, some bad.

Eurasia’s Middle Corridor: An Atlanticist frenzy to stifle Europe-Asia integration

Geopolitical interests between the Anglo-American establishment and the Sino-Russian-led axis will clash over the Trans-Caspian International Transport Route.

Two people involved in Izeh attack killed by Iranian security forces

The IRGC and Iranian police force also managed to arrest two of the group's members behind the deadly attack

‘Not a choice, but necessity:’ Iran, India recalibrating ties amid geopolitical shifts

Following a drop in trade brought on by US sanctions, New Delhi and Tehran - boosted by their mutual strong relations with Moscow - are set to revamp ties in a new era of Eurasian multipolarity. 

Revisiting the fall of Mosul: Who was to blame?

Mosul's surrender to ISIS has commonly been attributed to corruption and sectarianism by Baghdad, yet further investigation reveals the role of neighboring Turkey in the city’s fall.

Everybody wants to hop on the BRICS Express

Eurasia is about to get a whole lot larger as countries line up to join the Chinese and Russian-led BRICS and SCO, to the detriment of the west

Israel’s secret, illegal biological war against Arabs

For decades the use of banned biological weapons during the Nakba was kept hidden in Israel’s archives. Recent discoveries have shed light not only on this Zionist war crime, but also the sinister motive behind it

Crisis-hit Lebanon to receive Iranian fuel donation soon: Lebanese official

The US is not expected to sanction Lebanon if it receives Iranian fuel due to its dire economic situation, according to David Schenker, the former US Assistant Secretary of State for Near Eastern Affairs

‘Samarkand Spirit’ to be driven by ‘responsible powers’ Russia and China

The SCO summit of Asian power players delineated a road map for strengthening the multipolar world

Saad Hariri and the collapse of Lebanon

The Syrian regime-change war and Lebanon's economic collapse happened under Saad Hariri's watch, but the Future Movement leader is seldom mentioned for the pivotal role he played in Lebanon's unravelling

Six achievements of the Putin-Khamenei meeting

The real story of last week's Tehran summit was the strategic advancement of a Russian-Iranian alliance.

The west’s Plan B: Secure the realm

Having failed in preserving the unipolar order, the west will resort to Plan B – reviving a bipolar world based on the ‘civilized’ west and the ‘barbarian’ rest.

West Asia’s economic savior is called ‘multipolarity’

The transition from a western economic order toward a multipolar one is ushering in unprecedented economic and security advancements for West Asia.

Exclusive: Russia’s Sergey Glazyev introduces the new global financial system

The world's new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources. And it will liberate the Global South from both western debt and IMF-induced austerity.

Say hello to Russian gold and Chinese petroyuan

The Russia-led Eurasia Economic Union and China just agreed to design the mechanism for an independent financial and monetary system that would bypass dollar transactions.

Ukraine war triggers food security crisis in Arab world and beyond

Russia and Ukraine supply most of West Asia and North Africa’s wheat, which is the integral ingredient in the region’s most critical food staple

Russia’s judo kick to the western financial gut

Washington's sanctions on Moscow will destroy Europe, not Russia

Hezbollah chief blames Washington for ‘inciting’ the crisis between Russia and Ukraine

The resistance leader also criticized western media's racist approach to West Asian and African refugees of US-led wars