Baghdad and Tehran are keen on expanding their commercial ties despite the US unilateral sanctions. Ditching dollar is one way to reach this goal.
Iran private sector says it has all the capacity to fully enter the Iraqi reconstruction market as the neighbouring country eyes foreign investment to rebuild itself.
Securities and Exchange Organization (SEO) of Iran and the Iraqi Securities Commission (ISC) signed a Memorandum of Understanding (MoU) to create a joint investment fund.
Central Bank of Iran (CBI) says reaching a 20-billion-dollar trade volume with Iraq is not a far-fetched objective as the two nations eye increasing their annual trade exchanges.
Iran and Iraq vowed on Monday to take further steps to develop their bilateral ties as the two neighbors eye closer regional cooperation in the wake of rising tensions in the region.
he Iraqi capital city, Baghdad, is hosting a joint meeting of Economic Cooperation Commission with Iran. The two-day session opened on Sunday and will conclude on Monday.
AFP is reporting that a dinar-based account in Trade Bank of Iraq is supposed to be used to pay for Iranian energy in return for Tehran’s humanitarian purchases.
According to reports, Washington has given Baghdad a 90-day sanctions waivers to keep buying Iranian gas and electricity to meet summertime peaks of demand.
The Iraqi minister of energy says he is optimistic his country will get second US sanctions waivers as Baghdad has no other alternative sources to replace the Iranian gas and electricity.
The Iraqi envoy to Iran says although there are substitutes for Iranian energy, Baghdad maintains committed to imports from Iran and that is lookig for alternative ways of doing so.