Iraq to eventually release Iranian accumulated assets

The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati, who is in Iraq now, said that during a trilateral meeting with governors of the Iraqi Central Bank Ghalib Makhif and the Governor of the Iraqi Trade Bank (TBI) Salem Jawad Abdul Hadi Al-Jalabi, the sides have agreed upon having the accumulated assets of Iran released.

As he said, the assets are to be used for purchasing basic goods to supply the need of the Iranians demands which are exempted from oppressive and unilateral US sanctions. 

Hemmati added that in this meeting, constructive negotiations have been held between the sides.

He added that the Iraqi PM Al-Kadhimi has expressed content about the accorded agreement. Hemmati said that the PM has vowed to weekly follow up on the implementation of the agreement.

As the CBI governor explained, the Islamic Republic of Iran has huge financial resources in Iraqi banks due to its exports of electricity and gas to Iraq.

Hemmati expressed hope that the made agreement would end into taking positive steps in developing economic and banking relations with Iraq and the expansion of mutual banking and economic relations.

Heading a high-ranking banking and business delegation, Hemmati arrived in Baghdad this morning to meet with Iraqi officials, including Prime Minister Mustafa al-Kadhimi and Minister of Finance Ali Abdul Amir Allawi and the country’s senior banking officials, in a one-day trip.