- this agreement is going to be implemented in the coming days
- Iraq is going to open a euro savings bank account
- in which the country’s debts to NIGC and to the Power Generation, Distribution,Transmission Company (Tavanir) will be saved
- Iraq's recent debts to Iran will be transferred and saved in this account after being exchanged to euro
- the savings in this account can also be used for paying Iranian contractors dues in the mentioned country
Iraq’s electricity ministry spokesman Ahmed Moussa told Reuters that Iran is going to resume normal gas flows to Iraq following the agreement reached between the two sides on December 29
Iraq owes Iran over $6 billion for electricity and gas imports from the Islamic Republic, of which $3 billion is claimed to be blocked and inaccessible in the Trade Bank of Iraq (TBI).
Iran reduced its gas exports to the neighboring country by over 45 million cubic meters a day (mcm/d) on December 28, threatening to further reduce the current 5 mcm/d of gas supply to 3 mcm/d.