Iran and Iraq signed an agreement late Tuesday on a payment mechanism to remove the obstacles blocking the settlement of Baghdad’s debts to Tehran.
Signatories to the deal, which was inked in Baghdad, were Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati and his Iraqi counterpart Ali Mohsen Al-Allaq.
The deal focuses on a new mechanism on facilitating the repayment of Iraq’s electricity and gas dues to Iran and paving the way for the businesses of the two countries to conduct their mutual transactions. No further details about the mechanism have been revealed yet.