US Extends Iraq’s Waivers to Continue Importing from Iran

Monday, 24th December 2018
by Editorial Team

Umm Qasr, IRAQ: A ship is connected to the Basra Oil Terminal twelve nautical miles off the Iraqi coast in the waters of the Northern Arabian Gulf close to the port town of Umm Qasr 08 August 2006. The terminal is the main source of Iraq’s revenues, a key supplier to the global energy market and an obvious target for insurgents aiming to thwart the country’s economic recovery. AFP PHOTO/POOL/THAIER AL-SUDANI (Photo credit should read THAIER AL-SUDANI/AFP/Getty Images)

The US has extended the initial waiver given to Iraq to continue importing from Iran despite the sanctions for another 90 days, Oil Price reported.

The waiver will allow Iraq to continue importing electricity from Iran as the main Iraqi power plants depend on Iranian natural gas. Besides, Baghdad’s power generation is not enough to ensure domestic supply.

Iraq still needs more time to find another source of power instead of Iran. Otherwise, it will face more from electricity outages that caused protests in the country.

Meanwhile, the US has urged Iraq to become energy independent, especially from Iran.

The US has granted Iraq a 45-day waiver from its sanctions on Iran in order to import natural gas and electricity supplies.