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Iran/Iraq: $5bn in payments stuck

As much as $5bn in payments from Iraq to Iran for natural gas and electricity supplies is now stuck in Baghdad as a result of United States sanctions on Iran. According to comments from Iran’s Oil, Gas and Petrochemical Products Exporters’ Association spokesman Hamid Hosseini, reported by the local Press TV, the money is stuck in an escrow account in Central Bank of Iraq and is beyond Tehran’s reach.

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African Energy Gulf States Newsletter