Economy News – Baghdad
The U.S. State Department announced on Sunday that the Trump administration has terminated exemptions previously granted to Iraq for purchasing electricity from Iran.
A spokesperson for the department emphasized that Washington will not permit Tehran to benefit from any form of economic or financial relief.
It was stated that “the maximum pressure campaign launched by the president has the objective of eliminating the Iranian nuclear threat, curbing its ballistic missile program, and preventing support for terrorist organizations.”
On the prior Friday, the U.S. urged Iraq to expedite its transition away from reliance on Iranian energy sources.
Currently, Iraq has a production capacity of 27,000 megawatts of electric power, primarily generated from gas-operated stations; however, this capacity can dip as low as 17,000 megawatts.
This maximum output is insufficient to meet the country’s energy demands, necessitating an increase to 40,000 megawatts to adequately supply energy throughout the day.
To address this situation, Iraq has been importing Iranian gas, which has brought it into conflict with U.S. sanctions. Initially, the U.S. provided periodic exemptions to mitigate these concerns.
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