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The head of an Iraqi bank pledges to stop dealing with Iran if he does not renew the American exception DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The head of an Iraqi bank pledges to stop dealing with Iran if he does not renew the American exception

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The head of an Iraqi bank pledges to stop dealing with Iran if he does not renew the American exception Empty The head of an Iraqi bank pledges to stop dealing with Iran if he does not renew the American exception

Post by claud39 on Tue Jan 21, 2020 10:36 pm


[rtl]The head of an Iraqi bank pledges to stop dealing with Iran if he does not renew the American exception[/rtl]

January 21, 2020


The head of an Iraqi bank pledges to stop dealing with Iran if he does not renew the American exception 9727-AP_03101508359-1




BAGHDAD time



In the file of the escalation between Iran and America and the link between Iraq and it, the Chairman of the Board of the Iraqi Bank for Trade said Tuesday The French press agency said his bank would not be a party to the mechanism for paying Iran's financial dues for gas and electricity That Iraq imports, in the event that Washington does not renew the sanctions exemption, which expires next month.

Failure to renew the exemption may harm the Iraqi electricity sector, which depends on a third of its energy It imports it from Iranian gas and electricity, at a time of heightened tension between the United States and Iran. Washington imposed tough sanctions on Iran 's energy sector in 2018 , but it gave Iraq a series of The temporary exemptions over the past 15 months allow Baghdad to purchase gas from Tehran. Baghdad pays the price of imports by depositing the Iraqi dinar through the Iraqi-owned Trade Bank In principle, Iran is allowed to use it to purchase non-sanctioned goods. 

The Chairman of the Board of Directors of the Bank Faisal Alheims told AFP that he «If the exception is over, I am sure that the bank cannot pay for any gas dues, and it cannot To deal with any Iranian entity regarding gas and electricity, of course ” He added « as a bank, the most important thing we have is to be committed + ( local instructions to the Bank Central Bank of Iraq and international regulations , so the world trusts us ». Any entity that deals with institutions or countries that the United States have blacklisted is subject to secondary sanctions Restrict his access to the US dollar. 



The US has led an exemption to protect Iraq from similar sanctions, allowing him to continue to import about 1400 MW of electricity and 28 million cubic meters (988 million sq cubic )Of gas from Iran. Meanwhile, Iran and Iraq have agreed to a payment plan that is in line with US regulations by way of reckoning In Iraqi dinars at the Iraqi Trade Bank. Starting last year, Iraq had an outstanding bill of about $ 2 billion for purchases A precedent for gas and electricity, according to Iranian Oil Minister Bijan Zangana.

 Al-Heims refused to disclose the amount that was paid into the account or the amount still due. but he confirmed to AFP that « the exception was allowed to pay for exporters of electricity and gas. It delivered several batches by this mechanism but the problem is that the disposition of the money paid was not possible ».

 Iraq fears the escalation of tension between Iran and the United States, both of which are allies of Baghdad. The Iraqi parliament voted earlier this month to authorize the government to end the presence of foreign forces in the country, including about 5,200 US troops, in the wake of a US raid in a plane in which the march of assassinated Washington The influential Iranian general Qassem Soleimani and deputy head of the PMF Abu Mahdi Al-Muhandis. US President Donald Trump has threatened to impose severe sanctions on Iraq if Baghdad insists it must American forces leave Iraq.



The United States has informed Iraq that it is considering freezing bank accounts belonging to Baghdad in the United States banks Iraq keeps oil revenues , which make up 90 percent of the country 's budget.


claud39
claud39
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