“Iraq pays part of $7bn debt to Iran”

“Iraq pays part of $7bn debt to Iran”

The head of the Iran-Iraq Joint Chamber of Commerce says part of Iraq’s $7 billion debt have been received from Baghdad.

Yahya Al Eshagh said the time of action of receiving these claims continues based on an agreement between the central edges of the two countries.

Al Eshagh additional Iraq’s debts to Iran mostly relate to gas and electricity exports to the Arab country. He additional that the Central edges of Iran and Iraq have an agreement under which the Iranian Central Bank will use part of the receivables to buy the required items by Iraq and the other part will be paid to Iran in banknotes.

Al Eshagh said since the flow of exports to Iraq continues with the uncompletely payment, Iraq’s debts to Iran keep in the range of 5 to 7 billion dollars, and consultations are underway to reduce this total amount and collect the total claims.

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