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Iran reveals the value of its frozen funds in Iraq

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Iran reveals the value of its frozen funds in Iraq Empty Iran reveals the value of its frozen funds in Iraq

Post by RamblerNash Wed Oct 14, 2020 10:30 pm

Iran reveals the value of its frozen funds in Iraq Photo--2752
Time: 10/14/2020 19:48:44
 
{International: Al-Furat News} The Governor of the Central Bank of Iran, Abdel Nasser Hemmati, revealed the value of the funds and frozen assets of his country in Iraq.

Hemmati said in a statement to reporters on the sidelines of the cabinet meeting today, Wednesday, that "negotiations are underway with countries whose banks have frozen Iranian funds, adding that he achieved success in this field during his recent visit to Iraq."

He expressed his "hope to recover Iran's five billion dollars in Iraqi banks."

He added, "The conditions of the hard currency market in Iran are currently experiencing complications, especially due to several things, including the outbreak of the Corona virus, the maximum American pressure, and the implementation of the embargo during the past six months."

"The government and the competent agencies are doing everything they can to achieve stability in the market in the current circumstances, pending adjustments in this market," he said.

Regarding what is being reported from him that the value of the dollar will decrease in the country, Hemmati explained that conditions are beginning to change and that the restrictions imposed on Iranian funds are awaiting the results of this change, noting that tens of billions of Iranian proceeds money are frozen in foreign banks, and even countries that have good relations with Iran You cannot dispose of this money because of US pressure and threats.

The governor of the Central Bank of Iran added that the pressures on Iran have become more severe in the last days of the current US president, and therefore we must withstand and resist these pressures and work to raise their repercussions inside the country.

He noted that Tehran is continuing negotiations with the countries , which includes Iranian assets frozen in the banks, adding that the recent visit to Iraq was in this context , and that the results were positive in the hope of restoring five billion dollars of Iranian money in Iraq. "

Ammar al - Masoudi

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Iran reveals the value of its frozen funds in Iraq Empty Central Bank of Iraq: Returning Iranian funds to Iraq "is not possible"

Post by GirlBye Fri Oct 23, 2020 11:44 am

Baghdad - Iraq today:

The director of the media office of the Central Bank of Iraq, Yasir Jabbar Aflouk, said that officials in the Iranian banking sector had visited Iraq, accompanied by a representative from the Iranian government, and had asked Iraq to transfer Iranian funds in Iraq into the Iraqi dinar and return them to Iran, but officials of the Iraqi Central Bank said explicitly that The money will not enter Iran directly. 

The Iraqi official’s statements come days after the visit of Abdel Nasser Hemmati, head of the Iranian Central Bank, to Iraq and the announcement of the imminent return of nearly $ 5 billion of Iranian funds frozen in Iraq against the backdrop of US sanctions imposed on the Iranian banking sector.

Ayer Jabbar Aflouk added that, before the US sanctions were imposed on it, Iran used to take the money it obtained from trade with Iraq in the form of dollars and take it from Iraqi banks.

It seems that the recent US sanctions have closed the limited financial outlets that existed between Iran and Iraq, which further exacerbates the economic situation of Iran, as Tehran viewed Baghdad at this stage as the lung it breathed from and the only way to obtain foreign exchange.

The Iranian government and the Central Bank have been trying for some time to recover Iran's frozen funds in Iraq, and it has tried to do so through Iraqi government banks, as well as non-governmental banks, and even with the help of Iranian banks in Iraq, but the director of the media office of the Central Bank of Iraq, Yasir Jabbar Aflouk, said in this context that This is not possible.

The Iraqi official emphasized that the Iraqi Trade Bank (TBI) is the only institution that can make a decision regarding Iranian funds in Iraq, however, this bank should also seek permission from the central bank that has restricted its activity with Tehran due to US sanctions.

https://iraqakhbar.com/2718984
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