Business And Markets

Iraq to Unfreeze Iranian Assets

Iraq to Unfreeze Iranian AssetsIraq to Unfreeze Iranian Assets

An agreement was reached between the Central Bank of Iran, Central Bank of Iraq and the Trade Bank of Iraq to unfreeze Iran's financial assets in the neighboring country. 
Abdolnasser Hemmati, the CBI chief, announced the deal during his one-day trip to Baghdad. "Iran will use the freed assets to import basic goods," he was quoted as saying by the government's official news portal on the sidelines of the meeting with his Iraqi counterpart, Mustafa Ghalib Mukheef. 
The move is in line with an earlier agreement between the two sides in February 2020 in which the two agreed on settling Iraqi arrears via a trade mechanism to supply basic goods to Iran.


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