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Freeing Iran's frozen funds in Iraq is underway, Iranian official says

Category: Economy

Date: 2021-12-25T09:39:04+0000
Freeing Iran's frozen funds in Iraq is underway, Iranian official says

Shafaq News/ The process of freeing Iranian assets frozen in Iraqi banks is running smoothly, the head of the Iranian-Iraqi commercial chamber, Yehya Al Ishaq, said on Saturday.

Al Ishaq's remarks came in a statement to the Iranian "IBENA" news agency earlier today, Saturday. 

"The majority of the unpaid dues are related to the energy, electricity, and gas sectors. There is no delay regarding the dues of the [Iranian] private sector that receives its payments in exchange for the exports," he said.

"Some contractors who work in the engineering and construction sectors are facing a few difficulties that we are addressing," he continued, "the Iranian side said it has paid all the dues, mostly gas sales, to the Iranian side."

Al Ishaq said that the process of unblocking the access of Iran to its frozen assets in Iraq is running smoothly in accordance with the agreements sealed between both sides. 

"The frozen Iranian assets in Iraq amount to five to seven billion dollars," he added.

The head of the joint commercial chamber said that Iran exported 6.2 billion dollars worth of goods to Iraq between March 21 and November 20.

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