Iran reveals new developments regarding its frozen funds in Iraq
Shafaq News / The head of the Iranian-Iraqi Chamber of Commerce confirmed that the process of releasing Iran's frozen assets in Iraq is proceeding smoothly, in accordance with the agreements reached between the two central banks of the two countries.
The Chamber's head, Yahya Al Ishaq, stated, in a statement to the "IBNA" website of the Central Bank of Iran, that "the majority of Iraq's dues are related to the energy, electricity and gas sector, while there are no arrears related to the private sector, which receives its dues regarding export goods."
Al Ishaq added, “Some contractors working in the technical, engineering and urban services sector are facing some problems, as work is underway to address them,” noting that “the Iraqi side recently announced its willingness to pay all of its debts to Iran, the majority of which pertain to gas sales, and that Iranian stocks frozen in Iraq ranges between 5 to 7 billion dollars.
For his part, the Chairman of the Joint Chamber of Commerce announced that "Iranian exports of goods to Iraq recorded $6.2 billion during the first eight months of the current fiscal year, from March 21 to November 20, 2021."
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