News ID: 291457
Published: 0426 GMT March 08, 2021

Tehran, Baghdad discuss release of Iran’s frozen assets

Tehran, Baghdad discuss release of Iran’s frozen assets

Iranian Ambassador to Iraq Iraj Masjedi (L) talks with Iraq’s Finance Minister Ali Abdul-Amir Allawi in a meeting in Baghdad on March 8, 2021.

Iranian Ambassador to Iraq Iraj Masjedi and the neighboring Arab country’s Finance Minister Ali Abdul-Amir Allawi conferred on the releasing of Tehran’s frozen funds a day after it said $3b of the Islamic Republic’s frozen assets in other countries will be released soon.

The Iraqi minister stressed that returning of Iran’s financial assets is a priority for his country, emphasizing that necessary measures have been taken in this regard, according to Mehr News Agency.

The Iraqi government owes $6b to Iran for the importation of electricity and gas. Iraqi banks are not able to pay Iran’s debts due to illegal US sanctions.

Secretary-General of the Iran-Iraq Joint Chamber of Commerce Seyyed Hamid Hosseini said on Sunday that $3b of Iran’s frozen assets in South Korea Iraq, Oman and will be released soon.

“The US has agreed with releasing $3b of Iran’s funds in South Korea, Oman and Iraq,” Hosseini told Fars News Agency.

He added that a senior advisor to the Iraqi prime minister has also confirmed that some parts of Iran’s blocked assets in Iraq will be released and used to send humanitarian goods to Iran.

“Recently, a shipment of corn entered Iran from Iraq which is the result of the release of these funds,” Hosseini said.

The official on Saturday tweeted that that according to some Iraqi sources, Baghdad is going to unblock Iranian revenues.

“Reliable sources in Iraq suggest that the US has agreed to release Iranian resources at the Trade Bank of Iraq,” he said, adding that they have announced that several transactions have been made on the issue.

The US dollar lost part of its value against the Iranian currency rial after reports about releasing of Iranian assets in Iraq.

The dollar fell by nearly two percent in the Iranian market on Sunday to trade at 239,900 rials, according to a report by IRNA.

The euro fell 2.25 percent against its late Saturday price to sell at 288,730 rials, said the same report.

The funds are part of nearly $40 billion that various countries owe to Iran for imports of crude before the US imposed sanctions on Tehran in 2018 after pulling out of an international deal on Iran’s nuclear activity.







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