Iraqi Prime Minister Mohammed Shia Al Sudani. Reuters
Iraqi Prime Minister Mohammed Shia Al Sudani. Reuters
Iraqi Prime Minister Mohammed Shia Al Sudani. Reuters
Iraqi Prime Minister Mohammed Shia Al Sudani. Reuters

Al Sudani says he is not opposed to keeping US forces in Iraq


Robert Tollast
  • English
  • Arabic

Iraq’s Prime Minister Mohammed Shia Al Sudani has said he is not opposed to a continued US troop presence in Iraq, a statement that is likely to anger Iran-backed militias aligned to his political coalition.

In an interview with The Wall Street Journal, Mr Al Sudani said that the “elimination of ISIS needs some more time”, when asked about the US troop presence, which has been authorised by the Iraqi government to train the Iraqi army since 2014.

About 2,500 US soldiers remain in Iraq, from a high of over 5,000 during the war against ISIS between 2014 and 2018. The small contingent was deployed to Iraq following a withdrawal of US forces in 2011 after eight years of occupation. At its peak, the force numbered 170,000 in 2007, when Iraq was beset with sectarian violence and fighting between international coalition forces and insurgents.

In the interim period, between December 2011 and the summer of 2014, ISIS attacks surged throughout Iraq.

During the war to defeat the group, small contingents of coalition forces assisted the Baghdad government and Kurdish Peshmerga forces in the semi-autonomous Kurdish region.

US-Iran rivalry

Despite their role being almost entirely limited to training — some coalition special forces were deployed on combat missions with Iraqi government permission — their involvement in the war was strongly opposed by Iran-linked political parties and militias.

The militias were part of a coalition of groups known as the Popular Mobilisation Forces linked to the largest political bloc in Iraq’s parliament, the Co-ordination Framework.

During the war to expel ISIS from Iraqi cities, Iran-backed militias refrained from launching attacks on Coalition forces. But as soon as ISIS attacks plummeted, after the battle of Mosul in 2017, the PMF stepped up attacks.

There followed two years of violence between the US and the militias, escalating until a US military contractor was killed in December 2019.

The US then launched a drone strike on the leader of the PMF, Abu Mahdi Al Muhandis and Iranian Quds Force general Qassem Suleimani, killing them both.

Earlier this month, Mr Al Sudani attended a memorial service for both of the men, alongside the president of Iraq Latif Rashid and the head of Iraq’s judiciary, Faiq Zaidan.

The PMF and allied politicians aligned to Mr Al Sudani, most notably Qais Al Khazali — who founded the US-designated terror group Asaib Ahl Al Haq — continue to insist that US forces leave Iraq. Mr Al Khazali’s Sadiqun party now controls the higher education ministry.

Successive Iraqi governments have resisted their demands, saying the foreign forces provide important support to stop an ISIS resurgence.

Since losing its last urban stronghold of Mosul in 2017, the group has been confined to remote, rugged terrain, launching only sporadic attacks.

Mr Al Sudani said in the interview that he believed Iraq could maintain good ties with both Iran and the US, something multiple Iraqi governments have attempted over the past 10 years.

“I don’t see this as an impossible matter, to see Iraq have a good relationship with Iran and the US,” Mr Al Sudani told the newspaper.

UAE currency: the story behind the money in your pockets
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

UAE currency: the story behind the money in your pockets
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES

SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities

Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails

Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies

Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

Match info

Bournemouth 0
Liverpool 4
(Salah 25', 48', 76', Cook 68' OG)

Man of the match: Andrew Robertson (Liverpool)

Updated: January 15, 2023, 6:01 PM`