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Iran Cannot Access $2 Billion in Iraqi Bank Due to Sanctions

Iran Cannot Access $2 Billion in Iraqi Bank Due to Sanctions Iran Cannot Access $2 Billion in Iraqi Bank Due to Sanctions

Iran exports about 1,500 megawatts of electricity and 30 million cubic meters of gas to Iraq every day, the money for which is deposited in the Trade Bank of Iraq, a spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters' Union said.
Due to the US sanctions on Iran’s banking sector that have largely disrupted overseas payments, Iran cannot withdraw that money, but can use it to purchase goods from Iraq, Hamid Hosseini was reported as saying by ILNA.
Iraq’s total outstanding bills regarding gas and electricity import has surpassed $2 billion.

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