From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq, Iran oil-gas swap deal to continue until end of 2023 Iran has resumed the supply of natural gas to Iraq nearly two weeks after it had cut down its exports to the neighboring […]
By John Lee. In an effort to address the electricity crisis and overcome financing and sanctions-related challenges, Iraq and Iran signed an agreement on Tuesday in Baghdad, involving the exchange of Iranian-imported gas for Iraqi oil. Representing the Iraqi side, Mr. Ihsan Yaseen Al-Awadi, Chief of Staff to the Prime Minister, signed the agreement, while […]
From Tasnim, under Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. An Iranian official confirmed that the Iraqi government has released all of Tehran's frozen assets, amounting to $10 billion worth of energy debts. The funds have been deposited into an […]
By John Lee. US State Department spokesperson Matthew Miller (pictured) has explained the background to Iraq's payment of its debt to Iran, despite the sanctions that are in place with regard to Iran. At a press briefing, he was asked: "Iraqi electricity ministry, they told the state media that Iraq has paid off all the […]
By Hayder Al-Shakeri for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Are new US financial restrictions on Iraq missing their target? The latest restrictions are a symptom of increased US-Iran tensions. But as Iraq's elite find ways around them, ordinary Iraqis […]
Writing in the Financial Times, Raya Jalabi says that attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet Click here to read the full article (subscription required)
From Arab Gulf States Institute in Washington (AGSIW). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq to Contain the Kurdish Opposition and Pay Its Debts to Iran in Emirati Dirhams Iraq will begin paying for its debts and imports from Iran in Emirati […]
By John Lee. The UN Security Council has removed the following individuals from its Sanctions List: Ayad Futayyih Khalifa Al-Rawi Chief Of Staff, Quds Force, 2001-2003; Former Governor of Baghdad and Ta'mim. IQi.030 Name: 1: AYAD 2: FUTAYYIH 3: KHALIFA 4: AL-RAWI Title: na Designation: na DOB: 1942 POB: Rawah, Iraq Good quality a.k.a.: na […]
US Allows Iraq to Release $500 Million in Iran's Blocked Assets The United States has allowed Iraq to release the Iranian blocked assets worth $500 million due to sanctions relief, an Iranian official said. The US has mandated Iraq to release $500 million in Iranian blocked assets, the secretary-general of Iran-Iraq Joint Chamber of Commerce […]
By Suadad al-Salhy for Middle East Eye. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Iraq caused a currency crisis by paying Iran in dinars Desperate to avoid power shortages, Kadhimi's government gave Iran billions of dinars. US sanctions however mean it […]
By John Lee. According to a report from the Wall Street Journal, Iraqis are blaming the slump in the value of the Iraqi dinar on a recent policy change by the U.S. Treasury Department and the Federal Reserve Bank of New York. It says the NY Fed began enforcing tighter controls on dollar transactions by […]
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated critical nodes of a key financial facilitation network of the Islamic State of Iraq and Syria (ISIS), which included four individuals and two entities in Türkiye, who have enabled the terrorist group's recruitment and financial transfers to and from […]
