Iran said on Thursday it has received $1.6 billion from Iraq to settle part of the debts it has sought from its neighbour since 2020 for the supply of gas.

"After months of negotiations, $1.6 billion in arrears... for gas exports to Iraq have been received," Iranian Oil Minister Javad Owji said, quoted by Shana news agency.

Baghdad had been scheduled to pay that amount to Tehran before the start of June.

The debt dates back to 2020, but payment was stalled amid sanctions against Iran by the United States.

Tehran has repeatedly cut off gas supplies to force Baghdad to pay off its debts, which according to Shana amounted to $5 billion in September.

Iran's deputy oil minister, Majid Chegeni, said last month that an agreement had been reached with Iraq for it to pay $1.6 billion in arrears by the end of May.

Despite its immense oil and gas reserves, Iraq remains dependent on imports to meet energy needs.

Iran provides a third of Iraq's gas and electricity needs, but supplies are regularly cut or reduced, aggravating shortages caused by daily load shedding.

Related Links
All About Oil and Gas News at OilGasDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

NATO head urges Greece, Turkey to solve rows over Aegean
Athens (AFP) June 14, 2022
NATO Secretary-General Jens Stoltenberg on Tuesday urged Greece and Turkey to resolve their disagreements over the Aegean Sea, where the two are at loggerheads over islands and airspace. "Diverse views and debate are an essential part of our democracies," the head of the transatlantic military alliance told Greek news agency ANA. But, he said, "we urge Greece and Turkiye to solve their differences in the Aegean in a spirit of trust and Allied solidarity". "That means restraint and moderation ... read more