Iraq: Iran Seeks to Overcome the Repercussions of the Sanctions Imposed on 18 Iranian Banks by Collecting Due debts from Iraqi Banks

Baghdad- Iraq 20.10.2020

Iraqi debts have accumulated due to purchasing Iranian gas and oil derivatives in addition to importing electric power, reaching an amount of 4 billion dollars. Former finance minister- Baqir Jabr Al-Zubeidi indicated that the Governor of Iran Central Bank Abdul -Nasser Hemmati’s visit to Baghdad aims at collecting debts, adding that the Iraqi government should settle the debt issue to avoid a cut-off, just as what happened in southern governorates. Moreover, experts pointed out that 18 Iranian banks are under US sanctions, which are among the most prominent banks, in charge of foreign trade. Iran is striving for a solution to overcome imposed sanctions and Iraqi banks seem a sound solution