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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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    About a billion dollars owed by Beirut.. Iraq continues to supply Lebanon with oil

    Rocky
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    About a billion dollars owed by Beirut.. Iraq continues to supply Lebanon with oil Empty About a billion dollars owed by Beirut.. Iraq continues to supply Lebanon with oil

    Post by Rocky Sun 18 Feb 2024, 7:27 am

    About a billion dollars owed by Beirut.. Iraq continues to supply Lebanon with oil

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    Economy News - follow up
    A Lebanese official said on Sunday that Iraq continues to supply Lebanon with crude oil, despite Beirut’s failure to pay Baghdad’s dues, which amount to more than a billion dollars.
    The official explained, in statements reported by Lebanese media, that “the value of oil since the beginning of cooperation in September 2021 until today is about one billion and 70 million dollars, while Lebanon has not paid any dollar of this amount.”
    He added, "Iraq still considers that Lebanon is in a grace period as it is aware of the existing administrative complexities," recalling that "the Lebanese government approved the establishment of the platform, but to date it has not begun its work, for several reasons, most notably the failure to organize collections for the benefit of the Electricité du Liban, which is still... It is too late, and the general budget did not make any allocations for Iraqi oil.”
    The Lebanese official pointed out that “Lebanon is definitively committed to launching this platform and paying the required funds, but the delay is administrative and bureaucratic, so Iraq’s position is positive and goes beyond local complications, and it is by Lebanon’s side in these difficult circumstances, as the monthly amount of oil allocated to Lebanon is estimated at about 120 thousand.” tons".
    Regarding the services that Lebanon can provide to Iraq, the official said, “A delegation from the Investment Promotion Foundation in Lebanon (IDAL) visited Baghdad in recent days, where representatives of the Iraqi government met, and the foundations and goals of exchanging goods that the Iraqi side desired were laid.” Especially at the level of software, training, industry, agriculture, printing and advertising... in addition to Iraq’s need for experts and banking employees to develop the banking sector.”
    On another level, the official pointed out that “cooperation with Iraq does not depend on oil. Rather, there is cooperation at the security level and it is very effective, which has facilitated the work of the security services primarily in the field of combating drugs and other crimes. It has also strengthened cooperation and coordination with countries.” Arabic, especially the Gulf.”
    The Lebanese official warned not to "exploit Iraqi tourists who go to Lebanon, whether for medical care or recreation," noting that they "occupy first place among arrivals, noting that the Iraqi state supports travel to Beirut."


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