TEHRAN: Following a month of hiatus, electricity exports to Iraq was resumed after the neighboring country retired $350mn of its overall $1.3bn outstanding debt to Iran. In the present week and in time with visit of an Iraqi delegation to Tehran, an agreement was eventually achieved over resumption of electricity exports to Iraq.
Prior to the newly-reached agreement, Iraq’s overall debt to Iran mounted to about 1.3 billion dollars of which about 350 million dollars have been paid off. As per a deal between the two states, electricity sale to the neighboring country has been extended till the end of 2017 and the Iraqi side is required to repay the price in the form of exchange opening. Volume of Iran’s electricity exports to Iraq stood at an average of 800-1000 megawatts through 2016 though the process came to a halt in final days of the previous year due to outstanding debts.
