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Iran’s Energy Minister: Iranian funds frozen by Iraqi banks will be used to buy coronavirus vaccines

Iran's Energy Minister: Iranian funds frozen by Iraqi banks will be used to buy coronavirus vaccines

According to Iran’s Tasnim News Agency on the 30th, Iran’s Energy Minister Reza Ardakanian said in Baghdad, the capital of Iraq, on the 29th that Iran has reached an agreement with Iraqi officials on the use of Iranian funds frozen by Iraqi banks.

Under this agreement, the Iranian Ministry of Health will give birth to a European vaccine.

The production enterprise pays for the purchase of vaccines.

Aldakanian also said that the two countries have agreed on a “new mechanism” to accelerate the “release” of Iranian funds frozen by Iraq because of U.S. sanctions, and Iraqi officials have agreed to pay long overdue arrears to Iran National Gas and Iran State Electric Power Company.

In recent years, Iran has exported a large number of natural gas, electricity and other products to Iraq every year, but due to the United States sanctions against Iran, Iraq cannot pay Iran in time for related products.

On December 29, Iran’s National Gas Company decided to significantly reduce the amount of natural gas supplied to Iraq because Iraq owed more than $6 billion.

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