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Iraq to pay $2.76 billion in gas and electricity debt to Iran
  + stars: | 2023-06-10 | by ( ) www.reuters.com   time to read: +2 min
BAGHDAD, June 10 (Reuters) - Iraq has agreed to pay about $2.76 billion in gas and electricity debt to Iran after receiving a sanctions waiver from the United States, a senior Iraqi foreign ministry official said. Due to decades of conflict and sanctions, Iraq is dependent on imports from Iran for a lot of its gas needs. However, U.S. sanctions on Iranian oil and gas have hampered Iraq's payments for imports, putting it in heavy arrears and leading Iran to retaliate by cutting gas flows regularly. Iran has been unable to access billions of dollars in assets in several countries due to U.S. sanctions. The United States has insisted that oil-rich Iraq, the OPEC group's second-largest producer, moves towards self-sufficiency as a condition for its exemption to import Iranian energy, yet Baghdad has struggled to do so.
Persons: Fuad Hussein, Antony Blinken, Ahmed Al, Sahhaf, Hussein, Yahya Al, Ahmed Rasheed, Amina Ismail, Andrew Cawthorne Organizations: U.S, Riyadh Conference, Reuters, Iraqi Foreign Ministry, Commercial Bank of Iraq, United, OPEC, Dubai, Thomson Locations: BAGHDAD, Iraq, Iran, United States, Iraqi, Riyadh, Baghdad
BAGHDAD, Feb 5 (Reuters) - Russian Foreign Minister Sergei Lavrov will arrive in Baghdad on Sunday to discuss boosting bilateral relations and energy cooperation, Iraqi Foreign Ministry spokesman said in a statement. Lavrov, who is leading a delegation that includes oil and gas companies' representatives, is scheduled to meet his Iraqi counterpart Fuad Hussein on Monday, Ahmed Al-Sahhaf said in a statement. Sahhaf said the visit will focus on "strategic relations with Russia and to encourage investment opportunities, especially in relating to energy sectors". The Russian foreign minister will also meet on Monday Iraqi top officials, including Prime Minister Mohammed al-Sudani, President Abdul Latif Rashid and parliament speaker, Sahhaf said. Reporting by Ahmed Rasheed; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.
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