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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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    Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad

    Rocky
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    Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad Empty Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad

    Post by Rocky Wed 08 May 2024, 5:11 am

    Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad

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    Economy News - Baghdad
    Iranian Vice President for Legal Affairs, Mohammad Dehghan, said on Wednesday that his country's funds in Iraq are not "frozen or blocked."
    Dehghan stated in a press interview followed by Al-Iqtisad News, that "Iran's assets in Iraq are not frozen, and there are some ongoing monetary and financial transactions between the two countries."
    He pointed out that "there are some monetary and financial relations between Iran and Iraq, which were always resolved through dialogue between officials in the two countries, and we do not have any problems in this regard."
    The Iranian official explained, “According to the court’s ruling, Iran does not have frozen assets in Iraq, but there are some obstacles that will be resolved through dialogue,” noting that “there are some monetary and financial relations between the two countries, which are always resolved through discussions between the two countries.” Officials of the Central Bank of Iran and the Iraqi side, and there is no unsolvable problem in this area.” 
    Last week, Iranian press reports revealed the presence of approximately $11 billion in Iranian funds frozen in the Commercial Bank of Iraq, due to US sanctions, and most of these funds are due to Iranian gas and electrical exports to Iraq, according to official Iranian reports.
    The administration of US President Joe Biden approved new exemptions for Iraq to pay the amounts to purchase gas from Iran to operate electrical power plants.
    The American “Washington Free Beacon” website said, according to what “Baghdad Today” translated, on Thursday (March 14, 2024), that “according to a copy of the notification submitted to Congress for this measure, Tehran will be able to obtain more than $10 billion of funds that were frozen.” Because of US sanctions." 
     The website added, "The sanctions exemption mechanism, which raises sharp opposition from the Republican Party in Congress, allows Iraq to transfer financial payments to Iran in exchange for electricity via third countries." 
     He explained, "Republican foreign policy leaders in Congress expressed concerns regarding the exemptions earlier this week, saying that the sanctions on the Iranian regime should not be lifted in light of its support for Hamas and other terrorist organizations that are waging war on Israel and American sites in the region." ". 
    He continued, "The last exemption from sanctions was last made by the Biden administration in November, and its term was scheduled to expire this month, which put the White House in an awkward position after a growing group of members of Congress from the Republican Party expressed their concern about... Skip the penalties. 
    He stated that "the recent exemptions allow Iraq to convert the dinar into the euro, and then transfer payments to accounts of Iranian banks in the Sultanate of Oman." 


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