... about 1.5 2.79 billion euros... (my apologies for the error. I copied the number without checking — tw at 10:50 a.m. ET)
of their financial assets domiciled in Iraq; a move that is deemed a substantial financial windfall for the Iranian economy, which has long been contending with the burden of international sanctions.This development was made public by several Iranian media outlets, who quoted Yahya al-Eshaq, the head of the Iran-Iraq Joint Chamber of Commerce.
Al-Eshaq noted that "a portion of our outstanding debts owed by Iraq has been liquidated. Some of it is allocated to address the needs of Iranian pilgrims, while another part has been diverted towards the procurement of essential commodities."
and boodle for the ayatollahs
"According to incoming reports, the amount paid stands close to three billion dollars."
"These funds, hitherto frozen in Iraq due to US sanctions, will be released through Iraqi banks," as per al-Jazeera's breaking news Twitter account.
Iran
...a theocratic Shiite state divided among the Medes, the Persians, and the (Arab) Elamites. Formerly a fairly civilized nation ruled by a Shah, it became a victim of Islamic revolution in 1979. The nation is today noted for spontaneouslytaking over other countries' embassies, maintaining whorehouses run by clergymen, involvement in international drug trafficking, and financing sock puppet
militiasto extend the regime's influence. The word
Iranis a cognate form of
Aryan.The abbreviation
IRGCis the same idea as
Stürmabteilung (or SA).The term
Supreme Guideis a the modern version form of either
Duceor
Führeror maybe both. They hate
maintains extensive trade and economic relations with Iraq, with Baghdad being Tehran's largest trading partner. Nevertheless, Iran's assets remained frozen in Iraqi banks due to the sanctions imposed by the United States on Iran. Despite proposals from Iraq to barter these funds with other products, Iranian officials have consistently rejected such suggestions, preferring instead to pursue the release of their frozen assets.
Rudaw’s take on the story:
Iran says $2.7 billion of frozen assets released from IraqIraq has released $2.7 billion of frozen Iranian assets, the chairman of the Iran-Iraq Joint Chamber of Commerce said on Saturday, two days after Iraq’s foreign minister discussed the issue with his American counterpart.
According to chairman Yahya al-e Es’hagh, part of the funds released will be used to cover expenses for Iranian Hajj pilgrims and part will be used to buy basic staples, Tasnim news reported.
Al-e Es’hagh said the release of the funds will have a positive impact on Iran’s economy, helping to stabilize the currency and provide basic goods.
Iraqi Foreign Minister Fuad Hussein, in a meeting with US Secretary of State Antony Blinken in Riyadh on Thursday, raised the matter of difficulties paying funds owed to Iran for purchases of gas and electricity given strict US sanctions on financial transactions with Iran.
Hussein "stressed the need to find a solution to this problem, as it directly affects the electrical sector of Iraq. From this standpoint, he thanked the American side for allowing the issue of financial payments to Iranian pilgrims and for Iranian money in Iraqi banks to be resolved," read a statement from the foreign ministry.
An American readout of their meeting does not mention releasing Iranian funds, but said, "The Secretary encouraged the Government of Iraq on its efforts to become energy independent and to increase innovation in its energy sector."
Iraq’s electrical grid is dependent on gas imports from Iran to run its power generation plants.
Last week, the Iranian Students’ News Agency (ISNA) reported that $24 billion of frozen Iranian assets would be released from Iraq and South Korea in the near future after the sultan of Oman visited Tehran. Oman is a frequent mediator between Iran and Western nations, including brokering a recent prisoner swap.
Oman’s foreign minister was involved in discussions about the release of funds, Iraq’s foreign ministry tweeted on Saturday.