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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    America renews the extension of Iraq's exemption from sanctions against Iran for four months

    Rocky
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    America renews the extension of Iraq's exemption from sanctions against Iran for four months Empty America renews the extension of Iraq's exemption from sanctions against Iran for four months

    Post by Rocky Thu 05 Aug 2021, 6:20 am

    America renews the extension of Iraq's exemption from sanctions against Iran for four months

    •  Time: 08/04/2021 20:16:25
       
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    {Economic: Al-Rat News} The United States of America extended for four months the exemption period granted to Iraq from sanctions related to dealing with Iran, which Baghdad relies on to import electricity and gas, starting last week, an Iraqi official told AFP on Wednesday.
    Under the new exception given by the Joe Biden administration, Iraq will be able to continue importing electricity and gas from its eastern neighbor for an additional four months, that is, until the beginning of next December, as the Iraqi official explained to AFP, preferring to remain anonymous, while Iraq is on the verge of Early parliamentary elections on October 10.
    The duration of this exemption is equal to the last granted by the Biden administration in early April, which is the longest period allowed by US law.
    Although Iraq is an oil country, it relies heavily on Iran in the field of energy, as it imports a third of its consumer needs of gas and electricity, due to its dilapidated infrastructure, which makes it unable to achieve self-sufficiency to secure the needs of its 40 million people.
    Iraq currently produces 16 thousand megawatts of electricity, which is much less than its estimated need of 24 thousand megawatts, and reaches 30 thousand in the summer, while its population may double by 2050, which means an increase in its energy consumption, according to the United Nations.
    At the beginning of last month, several Iraqi provinces plunged into darkness in the midst of a scorching summer due to electricity cuts caused by attacks on power distribution lines, and Tehran halted for several days the export of gas that Iraq relies on to operate its power stations, due to Iraq's failure to pay its debts.
    Iraq owes Iran more than $6 billion in arrears, which are bills owed by the Iraqi Ministry of Electricity. While the exemption enables Iraq to obtain energy from its neighbor without problems, it prevents Baghdad from paying in dollars to the Islamic Republic.
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