WORLD Iran says unable to transfer $5 bln energy export sum from Iraq under US sanctions

WORLD

Iran says unable to transfer $5 bln energy export sum from Iraq under US sanctions

Xinhua

02:36, January 30, 2020

oil refinery tx (ap).jpg

(Photo: AP)

TEHRAN, Jan. 29 (Xinhua) -- An Iranian energy official said on Wednesday that Iran cannot transfer a sum of $5 billion earned from exports of gas and electricity from a bank account in Iraq because of the US sanctions.

Iran's private exporters have no problem with repatriation of their money, Hamid Hosseini, spokesman for Iranian Oil, Gas and Petrochemical Products Exporters' Association, was quoted as saying by Press TV.

"But the condition for transferring revenues from exports of electricity and gas is a different case," Hosseini noted.

The global payments network SWIFT removed Iran from the financial system in 2012 as a result of US pressure, according to Press TV.

Iraq partially relies on Iran for electricity and natural gas consumption.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue