• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 14 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Does Toyota Know Something That We Don’t?
  • 5 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 21 hours America should go after China but it should be done in a wise way.
  • 5 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 4 days China is using Chinese Names of Cities on their Border with Russia.
  • 5 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 4 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 10 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
  • 5 days Putin and Xi Bet on the Global South
  • 5 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 6 days United States LNG Exports Reach Third Place
  • 6 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Israel-Hezbollah Tensions Flare Up

Israel-Hezbollah Tensions Flare Up

Cross-border missile exchanges between Israel…

Crew Abandons Cargo Ship After Houthi Attack

Crew Abandons Cargo Ship After Houthi Attack

Attacks on Red Sea shipping…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

U.S. Set To Extend Iraq Waiver For Energy Imports From Iran

The United States is inclined to extend the waiver to Iraq to continue importing electricity and natural gas to Iran, which are vital to Iraq’s energy needs, three senior Iraqi officials told Associated Press on Monday.

Even after the U.S. slapped sanctions on Iran’s energy exports, Iraq continues to import natural gas and electricity from Iran under a special waiver that the United States has regularly extended to Iraq.   

Major Iraqi power plants are dependent on Iranian natural gas supply, and Iraq also imports electricity from Iran, as Baghdad’s power generation is not enough to ensure domestic supply.  

The current waiver is set to expire later this week, on February 13. The U.S. Department of State is inclined to extend that waiver for another three months, if Iraq comes up with a plan by the end of this week on how it could cut off its dependence on imports of natural gas from Iran, the Iraqi officials—senior members of the government—told AP.

Iraq may have serious problems in securing its energy needs if the United States doesn’t extend a waiver for an Iraqi bank to process payments for Iraq’s imports of electricity and natural gas from Iran, the head of the Iraqi bank told AFP last month. 

Despite the U.S. waiver for energy trade between Iran and Iraq, Iran is unable to use the money Iraq has paid in Iraqi dinars for the energy it imports from Iran. Up to US$5 billion sits in an escrow account at the central bank of Iraq, but Iran cannot touch it because of the U.S. sanctions, Hamid Hosseini, a spokesman for Iranian Oil, Gas and Petrochemical Products Exporters’ Association (OPEX) told Iranian news outlet Press-TV two weeks ago. Iran has been cut off from the global SWIFT payment system, and because of this, it hasn’t found a way yet to have the money transferred, according to Press-TV.

The deadline for the waiver expiration comes amid strained relations between the United States and Iraq after the U.S. killed Iran’s top military commander, Qassem Soleimani, in Iraq’s capital Baghdad in early January.   

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News