News ID: 239620
Published: 0349 GMT March 01, 2019

Iran opens two accounts to receive gas, electricity dues from Iraq

Iran opens two accounts to receive gas, electricity dues from Iraq

Iran is set to open two bank accounts to its dues from gas and electricity exports to Iraq, said the head of Iran-Iraq Joint Chamber of Commerce.

Hamid Hosseini told ISNA that Iran has already made a decision on this, adding that Iraq will pay for electricity and gas in euros if possible and in Iraqi dinars if not.

"The Iraqi side has openly stated to the US that it is impossible to stop gas imports from Iran," he said.

Noting that Iran insists on the payment of the gas debts in euros and the electricity debt in dinars, Hosseini added that, based on the deal between the Central Bank of Iran and the Iraqi side, the debt will be paid either in euros or in dinars.

The withdrawal of the US from the Joint Comprehensive Plan of Action (JCPOA) in May 2018, as well as the latest sanctions against Iran in place since November, have affected Iran-Iraq gas deals.

The US forbade Iraq from continuing gas imports from Iran — a matter which left Iraq in a dilemma, as there is no other country to supply Iraq with gas at least for the next few years. Therefore Iraq has been exempted from the sanctions on gas imports from Iran.

   
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