US Grants Iraq 45-Day Waiver for Iran Imports

Sunday, 11th November 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 granted Iraq a 45-day waiver from its sanctions on Iran in order to import natural gas and electricity supplies, Reuters reported.

“The United States has given Iraq a temporary relief from the sanctions for 45 days to continue purchasing natural gas and electricity from Iran,” the U.S. Embassy in Iraq said in a video published on its official Facebook page on November 8.

“This relief gives Iraq time to start taking steps towards energy independence,” the video said.

In August, Iraq central bank officials said that the country’s economy is close to Iran’s and that Baghdad would request exemptions from the sanctions from Washington.

The current temporary waiver is conditional on Iraq not paying Iran in US dollars for the imports.

Sanctions on Iran’s energy sector were reimposed by US President Donald Trump on November 5 after having been lifted by President Barack Obama under the 2015 nuclear deal.