Iraq has frozen a 20-year oil-for-projects agreement with China due to a financial and political crisis, a local news network said on Wednesday.
The OPEC member has just withdrawn nearly $1 billion deposited in the joint Iraq-China fund in order to pay its civil servants, Aliqtisad News said, quoting unnamed officials.
"Iraq has decided to freeze the agreement with China... it has not officially annulled the agreement but suspended its implementation because of internal political and security developments, the financial crisis....," the report said.
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