By John Lee.
The head of Trade Bank of Iraq (TBI) has reportedly said that the bank would stop processing payments for Iranian gas imports if a US sanctions exemption expires next month.
Faisal al-Haimus told AFP:
“As a bank, the most important thing we have is that we are compliant (with international regulations). That’s why people trust us.”
Iraq relies heavily on Iran to support its struggling electricity sector.
When the United States imposed sanctions on Iran’s energy sector in 2018, it granted Iraq a series of temporary waivers to allow it to buy gas from Iran.