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Foreign Affairs

Iraq has no problem for Euro transactions with Iran

Baghdad, Iraqi central bank in a directive announced that there is no problem for transactions with Iranian banks.

Iraqi banks also stressed banning exchanges based on dollar with Iran.

Having Euro transactions is based on the requirements made by the European central bank and all those banks working with Euro.

Although the directive does not explicitly mention the allowance of cooperation with the Iranian banks based on Euro, its articles seem to be giving a green light to Iraqi banks for engagement with the Iranian side.

Iraqi government spokesman Saad al-Hadisi had earlier said that due to the US sanctions, the country will stop dollar transactions with Iran.

Source: Islamic Republic News Agency - IRNA

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