Iraq Strikes Deal With Iran To Secure Summer Gas Imports

May 12, 2022


Agence France-Presse

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  • Iraq

Iraq will pay Iran $1.6 billion by June 1 to resolve outstanding debts and secure its supply of Iranian gas for the summer. While the United States sanctions Iran's energy exports, it has granted Iraq a waiver. Iraq must use a complex payments system to comply with the waiver. Delays in that payment system caused Iraq to accrue debt beginning in 2020. Acting Iraqi electricity minister Abdul Karim stated that Iraq will likely rely on Iranian gas for five to ten more years.