All tagged electricity

Iraq Sets Up 'Loophole' in US Sanctions to Buy Iranian Power

◢ Iraq is establishing a financial "loophole" to continue buying vital gas and electricity from Iran despite US sanctions, AFP has learned, mirroring a European mechanism that came into effect Friday. The "special purpose vehicle" (SPV) would allow Iraq to pay for imported Iranian energy in Iraqi dinars, which Iran could use to exclusively buy humanitarian goods, three senior Iraqi officials said.

US Grants Energy-Hungry Iraq New Iran Sanctions Waiver

◢ The United States has granted Iraq another 90-day waiver to continue with vital energy imports from neighboring Iran despite re-imposed sanctions, a government source said Saturday. The extension came after "long discussions" with Washington ahead of a looming deadline on a previous extension granted in December, the official, close to the negotiations, told AFP on condition of anonymity.

Iraq Needs Three Years on Iran Power: Parliament Speaker

◢ Iraq's parliament speaker voiced hope Friday that the United States will keep waiving sanctions on energy purchases from Iran, saying his country will need to import electricity from its neighbor for three years. President Donald Trump's administration has sought to cut off all exports from Iran but has twice granted three-month exemptions to Iraq, mindful of chronic blackouts that have reignited unrest in the war-torn country.

US Extends Iraq Waiver Over Iran Sanctions

◢ The United States is extending a waiver to let energy-hungry Iraq keep buying power from Iran, despite Washington's campaign of sanctions aimed at curbing Tehran, an official said. "While this waiver is intended to help Iraq mitigate energy shortages, we continue to discuss our Iran-related sanctions with our partners in Iraq," a State Department official said.

Iran Foreign Minister in Baghdad for Talks

◢ Iranian Foreign Minister Mohammad Javad Zarif met with his Iraqi counterpart in Baghdad on Sunday for wide-ranging talks, including on US sanctions against Tehran. The visit came just days after US Secretary of State Mike Pompeo made a surprise stop on his regional tour to urge Iraq to stop relying on Iran for gas and electricity imports.

Iraq Gets US Sanctions Break to Keep the Lights On

◢ Iraq has won an exemption allowing it to buy Iranian electricity despite US sanctions, as the country plagued by chronic power shortages walks a tightrope between rivals Washington and Tehran. With US measures imposed Monday taking aim at Iran's banking and energy industries, there were concerns Iraq—which heavily relies on its eastern neighbor for electricity and consumer goods—would be caught in the crossfire.