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Iranian Official Aims to Collect Iraqi Debt in a Matter of Months

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The head of the joint Iranian-Iraqi Chamber of Commerce, Yahya Al-Ishaq, confirmed that Iraq’s debts will be gradually collected over 3-5 months.

He stated that “Iranian-Iraqi trade relations are denominated in euros and dollars”, meaning that Iraq, and against the background of the fact that most of its oil revenues are initially denominated in dollars, the Iranian side makes payments in this currency. , but the American side is obstructing the Central Bank of Iraq, and we are facing restrictions in receiving contributions in dollars from there.”

He explained that “we found several mechanisms to collect receivables from the Central Bank of Iraq, including, for example, we received a lot of receivables through the mediation mechanism.”

He pointed out that “the trade exchange between Iran and Iraq includes goods, engineering and technical services, as well as the export of electricity and gas to a neighboring country.”

Source: agencies

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