BRI: Iraq freezes oil-for-projects deal with China: report

by **GirlBye** Sun Sep 13, 2020 11:23 am

This is SUPER interesting!!! Why would Iraq pull out of this deal??? If reconstruction is a goal, and this deal is lucrative why pull out? Could it be because of China's ties to Iran? Could it be because they dont need their support because too many other deals from other countries with no ties to Iran are on the table??? coffee

Move is due to financial and political crisis

BRI: Iraq freezes oil-for-projects deal with China: report 160126111537SJOG

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The OPEC member has just withdrawn nearly $1 billion deposited in the joint Iraq-China fund in order to pay its civil servants, Aliqtisad News said, quoting unnamed officials.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.

https://www.zawya.com/mena/en/business/story/BRI_Iraq_freezes_oilforprojects_deal_with_China_report-ZAWYA20200827050401?utm_campaign=magnet&utm_source=article_page&utm_medium=recommended_articles