Iraq Releases $2.7 Billion of Iran’s Frozen Assets: Official

Yahya Al-e Es’hagh on Saturday said that neighboring Iraq has released $2.7 billion worth of Iranian assets left with banks of the country.

Regarding the latest news on the release of a part of Iranian frozen assets in Iraq, the official added that a part of Iran’s frozen assets in Iraq has been allocated for the provision of funds needed by Iranian Hajj pilgrims.

Also, another part of the assets has been used to pay for the provision of staples, Al-e Es’hagh added.

Elsewhere in his remarks, the chairman of the Iran-Iraq Joint Chamber of Commerce pointed to the license for payment of a part of Iran’s outstanding dues by the Iraqi government and added that it will definitely have a positive impact on the markets because the demands of the Central Bank of Iran (CBI) will be met and basic goods needed in the country have been purchased using the assets. 

As a matter of fact, this currency breakthrough can significantly help stabilize the currency market and provision of basic goods and commodities in the country, Al-e Es’hagh concluded.