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Lebanon announced today, Monday, the arrival of an Iraqi delegation to Beirut to discuss the mechanism for repaying the fuel exported to it, amounting to 550 million dollars .
The Lebanese government said, "An Iraqi delegation arrived in Beirut on a two-day visit to negotiate with the Lebanese side for the purpose of benefiting from the $550 million deposited in Lebanese banks ."
And she added, "The Iraqi authority expressed its desire to meet with the Lebanese parties, namely Prime Minister Najib Mikati, Energy Minister Walid Fayyad, and Governor of the Banque du Liban Riad Salameh," noting that "the visit will be dedicated to the mechanism of spending the money that Lebanon is supposed to have paid Iraq for the imported fuel under The last contract was to supply Lebanon with about one million tons of electricity production plants .
She indicated that "so far, Iraq has accumulated about 550 million dollars, which is supposed to be paid through services provided by the Lebanese side to the Iraqis," explaining that these services include "the side of government hospitals, the payment of Iraqi airline fees, and the field of education as well ."
The Lebanese government's statement pointed out that "the matter also applies to the amounts that come from renewing the contract with an additional one million tons of fuel over the next 12 months ."
Lebanon and Iraq signed an agreement in July 2021 to import one million tons of fuel fuel to alleviate the country's electricity crisis, and the first ship arrived in Lebanon carrying 31,000 tons of this substance on September 16, 2021 .
And “fuel” is a mixture of oils that remain in the oil refining unit after distillation (heavy fuel) and burn in a furnace or boiler to generate heat or to generate electrical or kinetic energy .
Iraq and Lebanon agreed on an energy exchange, under which Iraq would give Lebanon, which is going through the worst economic crisis in its history, heavy fuel oil, in exchange for "services and goods" that Iraq would get from Lebanon .
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