Iraq’s energy debt to Iran reduced to over $1 billion: Businessman
A senior businessman watching over trade between Iran and Iraq says Baghdad has reduced its unpaid energy bill to Tehran to just over $1 billion from more than $5 billion reported in late 2020.
Yahya Al Es’haq, who serves as Chairman of Iran-Iraq joint Chamber of Commerce, said on Sunday that Iraq had settled a large chunk of the debt that it had owed Iran for imports of natural gas and electricity over the past few years.
Al Es’haq said that Iraq’s Electricity Minister Majid Mahdi Hantoush had discussed the payment of the remaining debt to Iran during his last month visit to Tehran.
“Arrears owed by Iraq over our energy exports are just over $1 billion and there were talks about how this debt will be repaid during Iraqi electricity minister’s recent trip to Iran,” the businessman was quoted as saying by semi-official Fars news agency.
He said that the Iranian government has agreed to resume exports of energy to Iraq over the summer and winter now that the debt repayment issue is settled between the two countries.
Iraq relies on Iranian gas for a significant part of its electricity generation needs in thermal power plants. The country also imports electricity from Iran to respond to a growing demand for power, especially during hot summers.
Iran started to cut down on gas supplies delivered to Iraq in late 2020 after authorities in the National Iranian gas Company said that Baghdad was in more than $5 billion worth of arrears on its energy imports bill.
Iraqi authorities had cited US sanctions on Iran as the main obstacle hampering the payment of energy debt to Tehran.
Iran reports slight increase in mining sector exports in April-October
Immunity of Iran’s shipping industry to illegal sanctions
Iran parliament committee approves to lower car import tariffs
VIDEO | Paris march in support of Palestine women
VIDEO | ICC issues arrest warrants for Israeli prime minister, ousted regime war minister
120 Palestinians perish as Israeli war machine keeps ravaging Gaza
VIDEO | Struggles of Palestinian women amidst war, displacement
VIDEO | Hezbollah rains attack drones down on elite Israeli brigade
VIDEO | US biased mediation fails
Leader: All captains of criminal, Zionist, terrorist gang must be prosecuted
Iran further raises its oil prices for Chinese buyers: Report
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
