TEHRAN, Iran, May. 4
Trend:
The Deputy Head of Iran-Iraq Joint Chamber of Commerce Seyyed Hamid Hosseini explained the recent agreement on release of Iran's frozen funds in Iraq.
The first part of the funds is expected to be received in the coming days, Hosseini told Trend.
Referring to the recent agreement between Iran and Iraq to use Iran's funds in Iraq to purchase the coronavirus vaccine, Hosseini said that according to previous agreements, 7 to 8 types of goods, including medicine and medical equipment, was determined to be bartered with Iraq's debt to Iran.
He added that the process that was to be carried out was complex and time-consuming, and on the other hand, there are no Iraqi companies that have the capability to buy goods through Iran's frozen fund.
“During the Iraqi electricity minister's recent visit to Iran, it was agreed that part of Iran's money to be used in Iraq to buy the 100 million doses of vaccine,” he said. “Of these 100 million doses, 60 million Russian vaccines, 20 million COVAX vaccines and 10 to 20 million AstraZeneca vaccines are to be purchased.”
He continued that medicine and vaccines are not subject to US sanctions, so that its import to Iran is not very complicated.
“On the other hand, Iran also has a surplus of gas production and is interested in increasing its exports,” he added referring to need for debt settlement to import more gas by Iraq.
Hosseini stressed that in order for Iran to resume gas exports to Iraq, Iraq must speed up the process of repaying its debts.