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Adam Montana Weekly 29 Jan 2020


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6 minutes ago, DinarThug said:

 

Iran cannot access $5 billion of its energy money in Iraq: Official

 

 

Wednesday, 29 January 2020 11:39 AM  [ Last Update: Wednesday, 29 January 2020 1:54 PM ]
 
 


8abad5f9-b31f-40c6-9b01-96c9aaf9676c.jpg

 

Iraq relies on Iran for trade and natural gas that generates as much as 45% of its electricity.

Iran’s money from exports of gas and electricity has piled up to $5 billion in a bank account in Iraq, but Tehran cannot transfer it because of the US sanctions, an official says.

Iraq relies on Iran for trade and natural gas that generates as much as 45% of its electricity, but the United States is trying to pry Baghdad from Tehran’s orbit.

The sanctions are now giving Iran a run for $5 billion, “sedimenting” at the central bank of Iraq because Tehran cannot access it, spokesman for Iranian Oil, Gas and Petrochemical Products Exporters' Association (OPEX) Hamid Hosseini said Wednesday.

The US has been enlisting its companies and allies such as Saudi Arabia to replace Iran as Iraq’s source of energy, but no practical solution has been developed and deployed yet.

Instead, Washington has had to grant the Iraqi government repeated exemptions and allow the Arab country to keep trade with Tehran.

While the Iranian gas and electricity has continued to flow, the revenues have accumulated and continued to sit unused in bank accounts in Iraq.

The two countries have agreed that Iraq’s government deposit the money in the Iraqi dinar at an escrow account, but they have not found yet a mechanism for its transfer.

This is because Iran is cut off from the global payments network SWIFT which removed the Islamic Republic from the financial system in 2012 as a result of American pressure.

Hosseini said Iran’s private exporters have no problem for repatriation of their money, “but the conditions for transferring revenues from exports of electricity and gas are different”.

Official statistics in the 10 months up to January showed Iran exported $8 billion in goods to Iraq, he said, adding recent protests in Baghdad and other cities had slashed bilateral trade. 

However, the increase in exports to Iraq's semi-autonomous Kurdistan region which is undergoing a flurry of reconstruction and development activity has made up for the decline. 

The Iraqi Kurdistan is a major customer of Iranian oil products which are offered on the commodities exchange in Tehran. 

link

 

58 minutes ago, Adam Montana said:

but between the Iraqi's recent protests, and a bit of US and other outside influences, the Iranian factor is being whittled down.

 

The barriers that have kept an RV from happening are being eroded, and quickly.

 

This Just In - More US Leverage Against Iran ! :o 

 

:D  :D  :D 
 

 

 

Iran cannot access $5 billion of its energy money in Iraq: Official

 

 

Wednesday, 29 January 2020 11:39 AM  [ Last Update: Wednesday, 29 January 2020 1:54 PM ]
 
 


8abad5f9-b31f-40c6-9b01-96c9aaf9676c.jpg

 

Iraq relies on Iran for trade and natural gas that generates as much as 45% of its electricity.

Iran’s money from exports of gas and electricity has piled up to $5 billion in a bank account in Iraq, but Tehran cannot transfer it because of the US sanctions, an official says.

Iraq relies on Iran for trade and natural gas that generates as much as 45% of its electricity, but the United States is trying to pry Baghdad from Tehran’s orbit.

The sanctions are now giving Iran a run for $5 billion, “sedimenting” at the central bank of Iraq because Tehran cannot access it, spokesman for Iranian Oil, Gas and Petrochemical Products Exporters' Association (OPEX) Hamid Hosseini said Wednesday.

The US has been enlisting its companies and allies such as Saudi Arabia to replace Iran as Iraq’s source of energy, but no practical solution has been developed and deployed yet.

Instead, Washington has had to grant the Iraqi government repeated exemptions and allow the Arab country to keep trade with Tehran.

While the Iranian gas and electricity has continued to flow, the revenues have accumulated and continued to sit unused in bank accounts in Iraq.

The two countries have agreed that Iraq’s government deposit the money in the Iraqi dinar at an escrow account, but they have not found yet a mechanism for its transfer.

This is because Iran is cut off from the global payments network SWIFT which removed the Islamic Republic from the financial system in 2012 as a result of American pressure.

Hosseini said Iran’s private exporters have no problem for repatriation of their money, “but the conditions for transferring revenues from exports of electricity and gas are different”.

Official statistics in the 10 months up to January showed Iran exported $8 billion in goods to Iraq, he said, adding recent protests in Baghdad and other cities had slashed bilateral trade. 

However, the increase in exports to Iraq's semi-autonomous Kurdistan region which is undergoing a flurry of reconstruction and development activity has made up for the decline. 

The Iraqi Kurdistan is a major customer of Iranian oil products which are offered on the commodities exchange in Tehran. 

link

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1 hour ago, Adam Montana said:

THANKS! Shout out to the current top 4

It is spelled davis 

I am trying to get in top 44500 

 

and agreed

thanks to so many here

 

makes the site enjoyable personable 

and full of vigar 

or is that viagra 

 

either way

great job

and keep your stick on the ice

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26 minutes ago, DinarThug said:

 

 

This Just In - More US Leverage Against Iran ! :o 

 

:D  :D  :D 
 

 

 

Iran cannot access $5 billion of its energy money in Iraq: Official

 

 

Wednesday, 29 January 2020 11:39 AM  [ Last Update: Wednesday, 29 January 2020 1:54 PM ]
 
 


8abad5f9-b31f-40c6-9b01-96c9aaf9676c.jpg

 

Iraq relies on Iran for trade and natural gas that generates as much as 45% of its electricity.

Iran’s money from exports of gas and electricity has piled up to $5 billion in a bank account in Iraq, but Tehran cannot transfer it because of the US sanctions, an official says.

Iraq relies on Iran for trade and natural gas that generates as much as 45% of its electricity, but the United States is trying to pry Baghdad from Tehran’s orbit.

The sanctions are now giving Iran a run for $5 billion, “sedimenting” at the central bank of Iraq because Tehran cannot access it, spokesman for Iranian Oil, Gas and Petrochemical Products Exporters' Association (OPEX) Hamid Hosseini said Wednesday.

The US has been enlisting its companies and allies such as Saudi Arabia to replace Iran as Iraq’s source of energy, but no practical solution has been developed and deployed yet.

Instead, Washington has had to grant the Iraqi government repeated exemptions and allow the Arab country to keep trade with Tehran.

While the Iranian gas and electricity has continued to flow, the revenues have accumulated and continued to sit unused in bank accounts in Iraq.

The two countries have agreed that Iraq’s government deposit the money in the Iraqi dinar at an escrow account, but they have not found yet a mechanism for its transfer.

This is because Iran is cut off from the global payments network SWIFT which removed the Islamic Republic from the financial system in 2012 as a result of American pressure.

Hosseini said Iran’s private exporters have no problem for repatriation of their money, “but the conditions for transferring revenues from exports of electricity and gas are different”.

Official statistics in the 10 months up to January showed Iran exported $8 billion in goods to Iraq, he said, adding recent protests in Baghdad and other cities had slashed bilateral trade. 

However, the increase in exports to Iraq's semi-autonomous Kurdistan region which is undergoing a flurry of reconstruction and development activity has made up for the decline. 

The Iraqi Kurdistan is a major customer of Iranian oil products which are offered on the commodities exchange in Tehran. 

link

 

:twothumbs:

 

Your "radar" is definitely tuned into that aspect, I've noticed it in a lot of your posts.

 

US sanctions are starting to play a huuuuuuuuge role in separating Iran and Iraq. Anyone who thinks we don't have a hand in this is simply not looking at the whole picture.

 

22 minutes ago, davis411 said:

It is spelled davis 

I am trying to get in top 44500 

 

and agreed

thanks to so many here

 

makes the site enjoyable personable 

and full of vigar 

or is that viagra 

 

either way

great job

and keep your stick on the ice

 

:lol:

 

Love it :D And you! Keep on keepin' on, brother! :D 

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1 hour ago, ChuckFinley said:

Thanks Adam and to those you have mentioned above for posting the news. Also like to shout out a Thank You to your staff for keeping us on the straight and narrow.   :tiphat:

Amen! I'd be up the creek without a paddle if it weren't for this AWESOME community!

Thanks Adam! Thanks to staff as well!

WH

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Thank you for your Chat Adam...!  :twothumbs:  I echo your sentiments below:  

 

 

"But I do believe that towards the end of this week, we're going to have a reasonable amount of information to use in making such a prediction.  And I also think it's going to be extremely favorable.

Time will tell if I'm right... and there are some of you who are going to reap some amazing benefits. "

 

Blessings boss.....Ron :salute:

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