Iraq Releases Iranian Funds Totaling 1.5 Billion Euros

Shafaq News/ On Saturday, Diaa al-Nasseri, advisor to the Iraqi Prime Minister, announced that Iraq had released a total of 1.5 billion euros of Iranian funds during the government of Muhammad S. al-Sudani. Al-Nasseri said on Twitter.

Furthermore, Al-Jazeera Channel reported that the Head of the Iran-Iraq Joint Chamber of Commerce, Yahya Al-e Eshaq, said that a part of Iran's debts owed by Iraq had been released. Some of these funds have been allocated for the needs of Iranian pilgrims, while another portion has been used for procuring essential commodities. The amount paid is estimated to be around three billion dollars.

According to the Iranian official, these funds, frozen in Iraq due to US sanctions, will be released from Iraqi banks.

Iran maintains significant commercial and economic relations with Iraq, with notable trade exchanges with Baghdad. However, Iranian funds remain frozen in Iraqi banks due to the US sanctions imposed on Tehran. Despite Iraqi proposals to barter these funds for other products, Iranian officials have refused such arrangements.