Iran and Iraq have agreed to settle Iraq’s energy debt to Iran through a barter deal, under which Baghdad would supply Tehran with needed medicine and staples, Iranian state news agency IRNA reported Oct. 13. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Iraqi payments for Iranian gas and electricity is paid into Iranian accounts in Iraqi banks. However, due to the sanctions, those funds are frozen and Iran is unable to access them. The settlement sidesteps US sanctions against financial payments to Iran for its gas and electricity, said Abdolnaser Hemmati, central bank governor, as quoted by IRNA. Iran has “considerable financial resources” in Iraq’s banks, said Hemmati, who held discussions with Iraqi officials on Oct. 12 during his second visit […]