Iran purchases its needed goods in exchange for exporting electricity; official

Speaking to ILNA news agency correspondent Seyyed Hamid Hosseini pointed to the recent agreement between Iran and Iraq and said “It was agreed that Iran to purchase its needed items and that the Iraqi bank would pay for them from Iran’s financial resources in this country.

“Iran will be using its resources in Iraq to buy non-sanctioned and basic commodities so that the country's bank does not get into trouble,” he confirmed

The Iranian official stressed the “Oil-for-Food program was intended to allow the embargoed country to sell oil on the world market in exchange for food, but the United States has done worse than Iran and seeks to reduce Iran's oil exports to zero.”

“The Iraqi side has announced that it will pay for any goods we buy from any country, whether European or Asian. Those goods enter Iran directly and the cargo is not going to go to Iraq.”

After the trip to Iraq on June 17, the Governor of the Central Bank of Iran (CBI) wrote about his eight-hour trip to Iraq by posting on Instagram: "Today's (Wednesday) talks on how to implement the memorandum and use the CBI's resources to buy basic goods and medicine have yielded good results."

He continued "Last year, we signed a good agreement on how to use the sources of gas and electricity exports to Iraq. However, due to some problems, the memorandum was not fully operational." He announced that Baghdad had agreed to settle its gas and electricity-related debts to Tehran by providing food and medicine to Iran.

Iraqi Prime Minister Al-Kazemi also said that we have a full agreement with Iran on how to solve the problems of money transfer through supplying food and basic goods and that we will cooperate. In addition, Iraqi businessmen are interested in cooperating, and I have personally ordered that the problems related to Iran's payment to be resolved.

END