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  • 23-02-19

    Iraq, Iran near finalizing energy supply agreement

    (MENAFN) Iraq and Iran were announced to be near completing an agreement on energy supply, defying U.S. sanctions through steering clear of the U.S. dollar.

    Special adviser to the Iraqi prime minister, Abdulkarim Hashim Mustafa unveiled the news during an interview as reported Bloomberg.

    According to the official, "a big delegation came from the Iranian central bank and the idea was proposed to trade with Iran in euros," noting that "there are other ideas to pay in Iraqi dinars, or in oil."

    Mustafa added that "the U.S. has been pressuring Iraq to end its purchases of Iranian natural gas and electricity, which meet a large share of domestic energy needs. In the meantime, it has extended to Baghdad a temporary waiver from the sanctions targeting Iran that President Donald Trump reimposed last year after pulling out of the Iranian nuclear deal."

    It comes as Iraq, as revealed head of Iraqi South Gas Co. (SGC) Hayan Abdul Ghani, required no less than two years to accelerate its gas output to an extent that it no longer needed Iranian gas.

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