Iranian FM Calls For Expansion Of Banking Ties With Iraq

5/27/2023 5:12:08 AM

(MENAFN- Nam News Network) TEHRAN, May 27 (NNN-IRNA) – Iranian Foreign Minister, Hossein Amir-Abdollahian, made a phone call with his Iraqi counterpart, Fouad Hussein, calling for expanding Iran-Iraq banking relations.

According to a report on Iran's Foreign Ministry's website, yesterday, the two sides discussed the latest developments in bilateral ties and highlighted the necessity of improving the gas transfer pipelines from Iran to Iraq.

They also talked about the implementation of a security agreement the two countries signed in March, on ensuring security along the common border, as well as, other regional cooperation.

Amir-Abdollahian thanked Baghdad for its cooperation in making payments for the Iranian Hajj pilgrimage, from Iran's resources in Iraq.

In early March, Hamid Hosseini, chairman of the Iran-Iraq Chamber of Commerce, said, the United States has let Iraq release 500 million U.S. dollars of its debts to Iran.

Iraq is an importer of electricity and natural gas from Iran, and owes the country over 10 billion U.S. dollars, as the U.S. banking sanctions forbid dollar transfer to Iran.

The United States, however, has allowed Iranian money frozen in Iraq, to be used for Iran's imports of goods not included in the American sanctions list, and for other payments, such as, settling the country's foreign debts.– NNN-IRNA

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