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Iran opens an account in Iraqi banks to circumvent US sanctions .. These details

November 07, 2018 at 14:35 PM

Iran opens an account in Iraqi banks to circumvent US sanctions .. These detailsBaghdad / Sky Press

Deputy Chairman of the Investment Committee of the Iranian Chamber of Commerce Mehdi Alibor Monday, the opening of an Iranian account in a private Iraqi government banks, to deposit the proceeds of commercial exports.
“The details have not been officially announced, but of course an account will be opened at an Iraqi government bank to deposit Iranian export funds in euros and dinars,” Mehdi Alibor said in an interview with the Ebna agency.
Alibor said that “the Iraqi Ministry of Finance and the Committee and the Foreign Ministry confirmed that they will transfer funds in Iraqi dinars, after the request of Iran.”
The member of the Trade Committee that this account will also be used to secure the amount of Iraqi imports to Iran, pointing out that most of the Iranian products exported to Iraq.
Alibor explained that the US requirement to exclude Iraq from US sanctions was non-dollar trade, while the dinar and the euro could be used.
Three Iraqi officials said on Friday the United States had told Iraq it would allow it to continue to import vital supplies of gas, energy and food from Iran after Washington reinstates sanctions on Iran’s oil sector.
The waiver of Iraq is conditional not to pay Iran the price of imports in US dollars, officials said, including a member of an Iraqi ministerial committee overseeing energy activities.

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