Iraq to pay $2.76b in gas and electricity debt to Iran | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
May 31, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, MAY 31, 2025
Iraq to pay $2.76b in gas and electricity debt to Iran

Middle East

Reuters
10 June, 2023, 09:35 pm
Last modified: 10 June, 2023, 09:45 pm

Related News

  • Bangladesh repays $3.5b foreign debt in 10 months of FY25
  • Islami Bank moves to auction S Alam Group’s assets to recover debt
  • Trump says US may have less debt than thought because of fraud
  • Sonali Bank to auction Oryza Agro assets to recoup Tk40cr debt
  • Debt-to-revenue ratio rises – Can Bangladesh manage the pressure?

Iraq to pay $2.76b in gas and electricity debt to Iran

Reuters
10 June, 2023, 09:35 pm
Last modified: 10 June, 2023, 09:45 pm
File Photo
File Photo

Iraq has agreed to pay about $2.76 billion in gas and electricity debt to Iran after receiving a sanctions waiver from the United States, a senior Iraqi foreign ministry official said.

Iraqi Foreign Minister Fuad Hussein was given the clearance during a meeting with US Secretary of State Antony Blinken on the sidelines of the Riyadh Conference on Thursday, the foreign ministry source, who spoke on condition of anonymity because he is not authorised to speak to the media, told Reuters.

Due to decades of conflict and sanctions, Iraq is dependent on imports from Iran for a lot of its gas needs.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

However, US sanctions on Iranian oil and gas have hampered Iraq's payments for imports, putting it in heavy arrears and leading Iran to retaliate by cutting gas flows regularly.

Iraqi Foreign Ministry spokesperson Ahmed Al-Sahhaf said in a brief statement that Hussein had made progress "regarding financial dues between Iraq and Iran during his discussion with his American counterpart in Riyadh" when asked about the funds.

He did not give further details.

Yahya Al-e Eshaq, head of the Iran-Iraq chamber of commerce, was quoted by Iranian news agencies as saying that "Part of Iran's blocked funds in Iraq has been earmarked for haj pilgrims and portions have been used for basic goods."

The Iraqi foreign ministry source said that the funds will be transferred through the Commercial Bank of Iraq and confirmed that the money will be used for Iranian pilgrims' expenses and foodstuffs imported by Iran.

Iran has been unable to access billions of dollars in assets in several countries due to US sanctions.

The United States has insisted that oil-rich Iraq, the OPEC group's second-largest producer, moves towards self-sufficiency as a condition for its exemption to import Iranian energy, yet Baghdad has struggled to do so.

USA / Politics / Global Economy

Iraq-Iran / debt

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Chief Adviser Muhammad Yunus meets Japanese Prime Minister Ishiba Shigeru in Japan on 30 May 2025. Photo: CA Office
    Bangladesh, Japan to sign Economic Partnership Agreement by year-end
  • File photo of BNP BNP Standing Committee Member Amir Khasru Mahmud Chowdhury
    Speaking about country’s problems in foreign trips won’t solve them: Khasru takes jibe at Yunus
  • Representational image. Photo: Collected
    'Heavy to very heavy' rainfall expected across country as land depression weakens further

MOST VIEWED

  • Photo: Courtesy
    New notes featuring historic, archaeological structures of Bangladesh to be circulated from 1 June
  • Two Memoranda of Understanding were signed at the seminar titled “Bangladesh Seminar on Human Resources,” in Tokyo on 29 May 2025. Photo: CA Press Wing
    Japan to recruit 100,000 Bangladeshi workers over next 5 years
  • BAT Bangladesh has to vacate Mohakhali HQ as SC rejects lease appeal
    BAT Bangladesh has to vacate Mohakhali HQ as SC rejects lease appeal
  • Representational Photo: Collected
    Country's all jewellery shops to remain indefinitely closed in protest of VP Reponul's arrest: Bajus
  • Khondoker Rashed Maqsood. File Photo: Collected
    Investors urge removal of BSEC chairman in meeting with CA’s special assistant, submit list of demands
  • Illustration: TBS
    Bangladesh repays $3.5b foreign debt in 10 months of FY25

Related News

  • Bangladesh repays $3.5b foreign debt in 10 months of FY25
  • Islami Bank moves to auction S Alam Group’s assets to recover debt
  • Trump says US may have less debt than thought because of fraud
  • Sonali Bank to auction Oryza Agro assets to recoup Tk40cr debt
  • Debt-to-revenue ratio rises – Can Bangladesh manage the pressure?

Features

Babar Ali, Ikramul Hasan Shakil, and Wasfia Nazreen are leading a bold resurgence in Bangladeshi mountaineering, scaling eight-thousanders like Everest, Annapurna I, and K2. Photos: Collected

Back to 8000 metres: How Bangladesh’s mountaineers emerged from a decade-long pause

12h | Panorama
Photos: Courtesy

Behind the looks: Bangladeshi designers shaping celebrity fashion

14h | Mode
Photo collage of the sailors and their catch. Photos: Shahid Sarkar

Between sky and sea: The thrilling life afloat on a fishing ship

18h | Features
For hundreds of small fishermen living near this delicate area, sustainable fishing is a necessity for their survival. Photo: Syed Zakir Hossain

World Ocean Day: Bangladesh’s ‘Silent Island’ provides a fisheries model for the future

1d | The Big Picture

More Videos from TBS

Six Lakh Sacrificial Animals Ready in Sirajganj for Eid-ul-Adha

Six Lakh Sacrificial Animals Ready in Sirajganj for Eid-ul-Adha

9h | TBS Stories
Six MoUs signed during Chief Advisor's visit to Japan

Six MoUs signed during Chief Advisor's visit to Japan

13h | TBS Today
Record migrant deaths in 2024

Record migrant deaths in 2024

1d | Podcast
Govt likely to trim subsidies in new budget

Govt likely to trim subsidies in new budget

16h | TBS Insight
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net