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By John Lee.
The US has granted Iraq another 120-day waiver from its sanctions on Iran.
According to S&P Global, a State Department spokesman said the waiver ensures that Iraq is able to meet its short-term energy needs while it takes steps to reduce its dependence on Iranian energy imports.
(Source: S&P Global)
By John Lee.
The US has granted Iraq another 120-day waiver from its sanctions on Iran.
According to S&P Global, a State Department spokesman said the waiver ensures that Iraq is able to meet its short-term energy needs while it takes steps to reduce its dependence on Iranian energy imports.
(Source: S&P Global)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.
Years of war and instability have damaged Iraq’s gas and oil infrastructure, leaving it dependent on energy imports, despite having huge reserves.
Now it wants to turn that around, with help from overseas investment.
Al Jazeera’s Osama Bin Javaid reports from Zubayr:
By John Lee.
Iran’s gas and electricity exports to Iraq are reportedy expected to reach $5 billion by the end of the current Iranian calendar year, which ends on March 21, 2020.
Mehr news agency quotes the Secretary General of Iran-Iraq Joint Chamber, Seyed Hamid Hosseini, as saying that if Iraq agrees it is possible for Iran to barter the necessary goods in return for the gas and electricity, the Central Bank of Iraq (CBI) “should cooperate in this regard“.
(Source: Tehran Times)
Washington has exempted Baghdad from some of its unilateral sanctions against Tehran, allowing Iraq to continue importing energy from Iran, according to the US envoy to Baghdad.
Baghdad can now buy energy from Iran, US charge d’affaires Joey Hood told reporters on Wednesday, Iran’s Press TV reported.
The waiver will allow Iraq to continue buying gas and electricity from Iran.
The administration of US President Donald Trump said in March it was extending a 90-day waiver for the second time to let Iraq continue energy imports from Iran.
The US envoy did not explain whether he was referring to the same waiver Washington gave Baghdad in March or he was declaring the issuance of new exemptions.
Gas imports from Iran generate as much as 45 percent of Iraq’s 14,000 megawatts of electricity consumed daily. Iran transmits another 1,000 megawatts directly, making itself an indispensable energy source for its Arab neighbor.
Iraq and Iran share a 1,400-kilometer-long border. For their run-of-the-mill maintenance, Iraqis depend on Iranian companies for many things from food to machinery, electricity, natural gas, fruits and vegetables.
(Source: Tasnim, under Creative Commons licence)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.
There is a fight over energy in Iraq between the US and Iran. Iraq relies on Iranian gas for nearly half of its energy – gas that is now subject to US sanctions on Iran.
The Iraqi government originally obtained a 45-day sanctions waiver from the US, but that waiver is set to expire next week.
Iraq is particularly sensitive to the issue after protests against electricity cuts rocked Basra earlier in the year and Iraq’s new government is treading a thin line trying to keep both the US and Iran happy, and its people satisfied.
Al Jazeera’s Charlotte Bellis reports:
Iraq is negotiating with the U.S. for exemptions from the impending snap-back of sanctions against Iran, arguing that it could not cut consumption of Iranian electricity and natural gas immediately without suffering serious economic harm and social instability.
An Iraqi delegation was in Washington last week seeking a waiver for its cross-border trade, meeting with senior officials in the State Department, Treasury Department, and National Security Council, according to multiple officials familiar with the talks.
More details here from Iraq Oil Report (subscription required)
(Source: Iraq Oil Report)