Iran receives part of its debt from Iraq

Business Materials 1 January 2021 23:59 (UTC +04:00)
Iran receives part of its debt from Iraq

BAKU, Azerbaijan, Jan. 1

By Elnur Baghishov – Trend:

Iran has received a part of its debt approximately $700,000 from Iraq due to exports of electricity and gas, Iranian Energy Minister Reza Ardakanian said after a meeting of the Cabinet of Iran, Trend reports citing Iranian media.

The minister emphasized that in addition, certain agreements have been reached on the repayment of Iran's debt.

Ardakanian added that various issues, including the development of economic cooperation between the two countries were discussed with a number of officials in Iraq.

According to the National Iranian Gas Company, Iraq has a total debt of more than $6 billion for gas exports to Iran. Due to this, Iran's gas exports to Iraq have been reduced.

The Iraqi Ministry of Electricity also said that Iran had reduced its gas exports to Iraq from daily 50 million cubic meters to 5 million cubic meters.