by Rocky Wed 06 Feb 2019, 6:58 am
[size=32]
Iraq
's economy pays Iran $ 2 billion[/size]
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one hour agoThe Central Bank of Iraq and its Iranian counterpart signed an agreement to pay debts owed to Iran on the sidelines of a visit by the Governor of the Central Bank of Iran, Abdul Nasser Hamati, to Baghdad.
A source in the Central Bank of Iraq, "Anatolia", "The signing comes to find a common consensus to repay the debt."
The source added that the debts recorded on Iraq in favor of Iran, worth two billion dollars, in exchange for imports of electricity, gas and some goods, during the past years, which correspond to what announced by Iranian Oil Minister, Bijen Zankane, on Tuesday.
Iraq imports 1,000 megawatts of electricity from Iran to reduce energy shortages in the country for years.
It also imports about 10 million cubic meters of Iranian gas a day to operate seven power plants that provide more than 20 percent of Iraq's actual electricity needs, according to official data.
Both Tehran and Baghdad have strong economic ties, and the volume of trade between the two sides has, in recent years, reached more than $ 10 billion a year and is seeking to increase them, according to official data.
Washington has exempted Baghdad from sanctions against Iran and allowed it to import gas and electric power.
US sanctions on Iran include two packages, the first aimed at blocking the dealings with Tehran by governments and companies, stopping dollar transfers, and blocking the purchase of Iranian currency and a bank ban. While the second package targeted sectors of energy, land and sea transport and petrochemical products.
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