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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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    Establishing two ports or 10 ring roads... Can Iraq benefit from the "frozen" Iranian funds?

    Rocky
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    Establishing two ports or 10 ring roads... Can Iraq benefit from the "frozen" Iranian funds? Empty Establishing two ports or 10 ring roads... Can Iraq benefit from the "frozen" Iranian funds?

    Post by Rocky Fri 01 Sep 2023, 4:39 am

    Establishing two ports or 10 ring roads... Can Iraq benefit from the "frozen" Iranian funds?

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    Baghdad today - Baghdad
    Today, Thursday (August 31, 2023), an expert in financial and banking affairs, Nasser Al-Kinani, confirmed that there is no economic benefit from the “frozen funds” in the Central Bank.
    Al-Kinani told "Baghdad Today" that "the frozen funds in Iraq, whether they belong to Iran or other countries, have no economic benefit from them, as they remain frozen with an official government bank, and they cannot be disposed of except after allowing them to be released to the second party."
    He added, "Iraq and any of the countries cannot dispose of any of the frozen funds, as these funds are considered paid to those countries and cannot be disposed of after they have been frozen, and they are released after finding mechanisms and agreements for them, as happened recently with Iran."
    Earlier, the Iranian Ministry of Foreign Affairs announced that, since last July, it had been able to release approximately 7 times the total funds that were used in Iraq last year, in the process of economic activities, expecting an acceleration of the process of liberating frozen funds. 
    The New York Times had revealed a US-Iranian barter deal, which would lead to the release of American soldiers in exchange for Iranian funds tied up in Iraq, whereby about $6 billion in Iranian oil revenues would be unfrozen.
    On July 11, the Iraqi government signed a deal to exchange Iraqi oil for Iranian gas, due to Iraq’s debt to Iran of about $12.12 billion frozen by US sanctions, about which Minister of Electricity Ziyad Fadel said in press statements: “There are amounts withheld from the Iranian side, and they must be paid either with money or Through oil," explaining that "if the United States grants approval to pay the dues, it can spend part of it as money and the other part as fuel."
    The frozen Iranian funds in Iraq cover the salaries of Iraqi employees in full for a period of 3 months, and are equivalent to the cost of the port of Faw twice, and are sufficient to construct 10 roads parallel to the fourth ring road around Baghdad, which is scheduled to start implementation during the current year.
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