Iraq is exempt from sanctions on condition of non-payment in dollars


BAGHDAD (Reuters) – The United States has told Iraq it will continue to import vital supplies of gas, energy and food from Iran after Washington reinstates sanctions on Iran’s oil sector, three Iraqi officials said. Exemption from Iraq is contingent on Iran not paying the price of imports in US dollars, officials said, including a member of an Iraqi ministerial committee overseeing energy activities. The Iraqi Finance Ministry has set up an account with a state-owned bank in which Baghdad will deposit the amounts owed to Iran for imports in Iraqi dinars, the official said on the ministerial committee. In August, central bank officials said Iraq’s economy was closely linked to Iran, making Baghdad ask for permission to ignore some US sanctions. Iraq imports vital supplies from its neighbor, including gas used in power plants.

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