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Iran to use funds in Iraq for basic goods imports: CBI governor

Press TV – October 12, 2020

Iraq has agreed to release Iranian funds blocked in the Arab country because of American sanctions for Iran’s purchase of staples and basic goods, the Central Bank of Iran (CBI) governor Abdolnasser Hemmati said after meetings with senior Iraqi officials in Baghdad on Monday.

Hemmati said in a post on his Instagram page that some “good agreements” had been reached on the issue in a trilateral meeting involving him and his Iraqi counterpart as well as the CEO of Trade Bank of Iraq (TBI) where the Iranian funds are blocked.

Iran has billions of dollars in a TBI account which processes Iraq’s payments for imports of natural gas and electricity from Iran.

However, the funds have been blocked because of US sanctions on Iran which restricts the use of dollar for transactions involving Tehran.

Hemmati said Iraqi Prime Minister Mustafa Al-Kadhimi had welcomed the agreement to use the funds to reimburse Iran’s basic goods imports.

“In the meeting with the Iraqi premier … he issued the required orders to the Iraqi central bank and the TBI to speed up the implementation of the agreement,” said Hemmati, adding that Kadhimi had vowed to personally follow up the case on a weekly basis.

Hemmati made a first visit to Baghdad in June to pursue the case of blocked funds in Iraq. The CBI governor had expressed optimistic remarks about the release of funds in Iraq on that occasion but a final decision on the issue has been waiting reportedly because of growing American pressure on Baghdad.

A high-ranking trade and banking delegation accompanied Hemmati in his Monday trip to Iraq. The top banker said the visit would bolster the already growing trade relations between the two countries.

Iraq is only second to China in purchase of goods and services from Iran with recent figures showing Iranian exports to the Arab country reached $565 million in value terms in the Persian calendar month to September 21.

October 12, 2020 - Posted by | Wars for Israel | , ,

3 Comments »

  1. It’s interesting to note that The American Government uses the International Banking System to bully, and sanction various countries around the World. It’s almost as if they are “in bed together”…….I wonder who these “Banksters” are??

    Like

    Comment by brianharryaustralia | October 12, 2020 | Reply

    • To use the term ‘bully’ is to imply that there are innocent victims.

      Like

      Comment by marymtf | October 12, 2020 | Reply

      • What has Venezuela ever done to the USA? What did Iraq do to the USA?, What did Vietnam do to the USA? What did Libya do to the USA, etc etc etc……..

        Like

        Comment by brianharryaustralia | October 12, 2020 | Reply


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