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  • 15-10-20

    Iran, Iraq work on trade agreement for trapped funds

    (MENAFN) Abdolnaser Hemmati, Iran's central bank governor, states that he is "hopeful", his visit to Baghdad, on Monday, 12th of October, was a success, and Iraqi officials will give Tehran the green light to gain access to more than USD5 billion of its funds in Iraq. Following U.S. regulations the currency from Iran's exports of gas and electricity has accumulated and has been captured in a bank account in Iraq. Hemmati worked on getting a trade agreement with authorities in Baghdad on Monday, to employ expenses from energy exports to obtain necessities from Iraq. He informed reporter, after a meeting that took place in Tehran, that; "The recent trip to Iraq was a success and we hope to be able to use our resources in Iraq, which are more than five billion dollars." In addition he said; "Some other countries have also responded positively to the use of foreign exchange earnings. In this regard, traders and importers will gradually realize in which areas we have access to our resources."

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