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Washington extends Iraq's exemption from sanctions on Iran for the 21st time
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Added 11/15/2023 - 7:00 PM
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A scene from the Iraqi capital, Baghdad
A scene from the Iraqi capital, Baghdad
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Economy News - Baghdad
The United States announced that it had extended for four months the exemption period granted to Iraq from sanctions related to dealing with Iran, for the 21st time since 2018 .
A senior US State Department official explained on Wednesday, “This measure will allow Iraq to use its own funds to pay the costs of importing electricity from Iran, which will be placed in Iranian accounts restricted in Iraq .”
The exception also stipulates that a portion of Iranian gas funds be transferred to Oman, but the American official stressed that “Iran will not be able to use these funds except for humanitarian needs .”
Due to the sanctions imposed by the United States on Iran, Baghdad cannot directly pay Tehran for its imports of Iranian gas .
The senior American official, who requested that his name not be published, indicated that the total debt owed to Tehran by Baghdad in exchange for previous Iraqi imports of Iranian gas amounts to about 10 billion dollars .
To force Baghdad to pay its unpaid debts, Tehran regularly suspends its gas supplies to Iraq, which desperately needs these imports to operate electricity production plants .
Iraq relies heavily on Iran in the field of energy, as it imports a third of its gas and electricity consumption needs from it, and is also currently looking to import gas from Turkmenistan .
A delegation from the Ministry of Electricity visited Turkmenistan early this month in continuation of the consultations held in the Iraqi capital, Baghdad, last month, which resulted in the conclusion of a memorandum of understanding between the two countries stipulating the supply of gas to Iraq through the Iranian pipeline network to reach Iraqi power stations, according to a statement by the Ministry of Electricity .
Iraq currently produces 16,000 megawatts of electricity, which is much less than its estimated need of 24,000 megawatts, reaching 30,000 in the summer, while its population may double by 2050, which means an increase in its energy consumption, according to the United Nations .
The previous US administration, under President Donald Trump, withdrew from the nuclear agreement concluded with Iran and at the end of 2018 reimposed sanctions on Tehran .
Because of these sanctions, many countries and international companies refrain from dealing with the Iranian government or even with Iranian companies for fear of being affected by the sanctions .
Views 33
Added 11/15/2023 - 7:00 PM
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