All tagged Trade Bank of Iraq
◢ The bank through which Iraq pays for Iranian gas imports to power its grids said Tuesday it would stop processing payments if a crucial US sanctions exemption expires next month. "We'll stop. As simple as that," the head of Trade Bank of Iraq (TBI) Faisal al-Haimus told AFP.
◢ Iraq is establishing a financial "loophole" to continue buying vital gas and electricity from Iran despite US sanctions, AFP has learned, mirroring a European mechanism that came into effect Friday. The "special purpose vehicle" (SPV) would allow Iraq to pay for imported Iranian energy in Iraqi dinars, which Iran could use to exclusively buy humanitarian goods, three senior Iraqi officials said.
