IranMiddle East

Iraq is giving oil instead of gas debt to Iran

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Iraq is giving oil instead of gas debt to Iran

Instead of gas debt, Iraq gives oil to Iran

Mohammed Shia, the Sudanese Prime Minister of Iraq, announced on Wednesday that Iraq is starting a barter exchange of crude oil with Iran to end the repeated delays in payment to Tehran due to the need for US approval.

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Instead of gas debt, Iraq gives oil to IranEnglish

Shia stated that Iran has reduced its gas exports to Iraq by over 50% since July, after Baghdad failed to obtain US approval to pay its debts to Iran. However, Tehran has now agreed to resume gas exports in exchange for crude oil.

Shia said in a televised speech that this agreement was reached during talks with an Iranian delegation that has been in Baghdad since last Saturday.

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