The head of the Iranian-Iraqi Joint Chamber of Commerce, Yahya Al-Ishaq, confirmed that the dues due from Iraq will be collected, using new mechanisms, gradually, within 3 to 5 months.
He stated, according to International Agencies, that “Iranian-Iraqi trade relations are denominated in the” euro “and” dollar “currencies, meaning that Iraq, on the background that the majority of its revenues from oil sales are originally denominated in dollars, the Iranian side makes payments in this currency, but the American side put obstacles in front of the Central Bank of Iraq, and we are now facing restrictions in receiving dues in dollars from there.
He explained that “to collect receivables from the Central Bank of Iraq, we found multiple mechanisms, including, for example, we received many receivables through the mediation mechanism.”
He pointed out that “trade exchange between Iran and Iraq includes goods, engineering and technical services, and the export of electricity and gas to the neighboring country.”
Source: National Iraqi News Agency