U.S. Extends Sanctions Waiver Allowing Iraq to Buy Electricity from Iran

November 14, 2023

Author: 

Matthew Lee

Publication: 

Associated Press

Related Country: 

  • Iraq

The United States issued a new 120-day sanctions waiver allowing Iraq to purchase electricity from Iran. In total there is roughly $10 billion in Iraqi payments held in escrow in Iraq. The waiver kept a provision in place that allows some of the proceeds from the payments to be transferred into accounts in Oman, where they can be converted to other currencies for Iran to spend on humanitarian goods after a vetting process.