Iran’s Energy Minister Reza Ardakanian says he has reached an agreement with the Iraqi government authorities on how Iranian funds blocked in a commercial bank in the Arab country could be used by Tehran for purchase of COVID-19 vaccines from a European manufacturer.
The US has granted Iraq a shortened 45-day sanctions waiver to import Iranian gas that will expire days before Donald Trump’s term ends.
Iran’s central bank governor Abdolnaser Hemmati says he is “hopeful” his visit to Baghdad on Monday and successful talks with Iraqi officials would enable Tehran to use more than $5 billion of its funds in the country.
An agreement was reached between the Central Bank of Iran, Central Bank of Iraq and the Trade Bank of Iraq to unfreeze Iran’s financial assets in the neighboring country.
The Iranian government has picked up a new contractor for construction of a key railway extension into the Iraqi territory with sources saying that the bidder would provide full finances worth 100 million euros for the project.
A total of 479,195 tons of commodities worth $1 billion transited through Bashmaq border crossing located in the western Kurdestan Province during the first five months of the current Iranian year (March 20-Aug. 21).
Iran’s exports to Iraq are gradually growing compared to initial months of the spread of the coronavirus pandemic in the Middle East beginning late February, a member of Iran-Iraq Joint Chamber of Commerce says.
Shalamcheh crossing at the border between Iran and Iraq has been reopened for trade after it was temporarily closed by the authorities on the Iraqi side from Eid al-Adha to Eid al-Ghadir.
Khosravi crossing at the border between Iran and Iraq has been reopened for trade after it was closed by the authorities on the Iraqi side about five months ago due to the spread of the new coronavirus.
Head of the International Department of the Central Bank of Iran said constructive talks were held with Iraqi officials which could result in unfreezing millions of dollars of Iranian money.