TEHRAN, Iran, Jan. 31
Trend:
The Trade Promotion Organization of Iran announced the possibility of importing goods in exchange for its money in Iraqi banks, Trend reports citing Mehr News Agency.
In a letter to Ministries of Industry, Mine and Trade and Agricultural Jihad, the Trade Promotion Organization of Iran (TPO) announced the possibility of using Iran's foreign exchange resources in Iraq via the Trade Bank of Iraq's (TBI).
The head of the Trade Promotion Organization of Iran, Alireza PeymanPak provided an inventory of the potential importing goods from Iraq.
In a similar letter to TPO, the Food and Pharmaceutical Industries Department of the Ministry of Industry, Mine and Trade of Iran asked for the import of required Pharmaceutical products using the capacity of the TBI Bank of Iraq.
The exact amount of the Iraqi debt is not known. In the past, Iranian officials have said between $6 billion and $7 billion of Iranian funds are held in Iraqi banks.
Iraq owes the money to Iran for importing gas and electricity, which has continued despite sanctions, but Tehran has been unable to obtain its assets frozen in Iraqi banks/