Iran to Use Money From Iraq Gas Sales to Buy Virus Vaccines

Iran will use money from its energy exports to Iraq to buy coronavirus vaccines from Europe, Iranian Energy Minister Reza Ardakanian said.

He made the statement following a visit to Baghdad after Iran reduced natural gas supplies to Iraq over unpaid bills, the state-run Islamic Republic News Agency reported.

Iraq has so far cleared $700 million of its debt for electricity and natural gas imports from Iran, the state-run Young Journalists Club reported, citing Ardakanian.

Iran said it would “urgently resume gas flows, which had been slashed recently after technical problems,” Iraq’s state-run newspaper Al-Sabah reported Wednesday after the meetings.

On Monday, the National Iranian Gas Co. said it was owed $5 billion for gas supplies to Iraq and an additional $1 billion in penalties. Iran will also use the money to buy essential goods, Ardakanian said.

©2020 Bloomberg L.P.

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