Tuesday, March 5, 2024

Iran to Buy 16m Doses of COVID-19 Vaccine Using Its Money Frozen in Iraq

Iraq has received the green light to pay $125 million in its debts to Iran for the purchase of 16 million doses of COVAX vaccines, Iran's energy minister said. The money has reportedly been transferred from Iraq's Trade Bank to a Swiss bank.

Iraq’s overdue payments to Iran were discussed in a meeting between Iran’s Petroleum Minister Bijan Namdar Zangeneh, Iranian Energy Minister Reza Ardakanian, and a visiting Iraqi delegation led by the country’s Finance Minister Ali Abdul-Amir.

The two sides discussed how Baghdad is supposed to pay its debts to Tehran, and it was decided that talks be held in the current week to reach final agreement. 

Iran and Iraq are to hold joint meetings this week to work out ways for Iraq to pay its overdue debts to Iran.

In turn, the Iranian oil minister said the country stands ready to increase natural gas exports to Iraq, expressing hope Baghdad will pay its debts as soon as possible.

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