Saleh: The China agreement does not mortgage oil and can be canceled at any time Iraq wants

money and business

Economy News _ Baghdad

A senior adviser to the Iraqi government for financial and economic affairs, and one of the negotiators in the Iraqi-Chinese agreements, the appearance of Mohammed Saleh, on Wednesday, that the China agreement does not mortgage Iraqi oil for many years as rumored, as to the possibility of canceling it at any time Iraq wants.
Saleh said in an interview with “Al Arabi Al Jadeed” newspaper and seen by “The Economy News”, “The agreement between China and Iraq is technical, and we are surprised by the chaos of the current analyzes of economists and politicians alike. We know that an agreement with a country like China is a strong competitor to the United States in Iraq raises Controversy also, but this does not mean that it is politicized.
Saleh added that “the agreement includes allocating export revenues of 100 thousand barrels of Iraq’s total daily exports to China, which amount to about 850 thousand barrels, for reconstruction projects, which is the beginning of the entry of Chinese companies in the reconstruction of dilapidated infrastructure.”
He continued, “All oil revenues go to the operational budget, while this is an opportunity to allocate a portion of the revenues well to reconstruction and construction.” He stressed that “the issue of mortgaging Iraqi oil for many years, as some warn and heard about the past two days, is incorrect, there is a clause in the agreement that enables Cancel it any time you want, it is an aid agreement from China as a friendly country to Iraq.
He considered that “there are no fears of any US economic or other sanctions, in light of the application of this agreement, because the American side has nothing to do with this file, and we have not heard that there are American objections or warnings about the agreement or its application,” noting that “there is an intention in The future, if Chinese projects succeed, is to allocate 300,000 barrels of oil a day for reconstruction projects, instead of the current 100,000 barrels.

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