Agreement between Iran and Iraq to release stranded energy payments

Iran has a trade deal with Iraq that will allow it to access funds stranded in Baghdad due to US sanctions, according to the Islamic Republic News Agency's official news agency.

 

Agreement between Iran and Iraq to release stranded energy payments

The head of Iran's central bank, Abdul Nasser Hemmati, visited Baghdad on Monday to finalize the deal, which would allow Iran to export energy to buy essential goods from Iraq, the IRNA reported. May use payments collected from It did not provide any data or time frame for the agreement.

 

In June, Iranian Energy Minister Reza Erdogan said Iraq owed Iran at least 800 800 million for electricity imports. In February last year, Tehran said it owed Iraq about $ 2 billion in natural gas.

 

In the year ending March 2019, Iraq was Iran's second-largest trading partner after China, according to Iranian customs data. Imports from Iraq increased by only $ 58 million.


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