By Reuters Staff
2 Min Read
DUBAI (Reuters) - Iran’s state gas company said on Monday it had slashed supplies to neighbouring Iraq over arrears of more than $6 billion, after the Iraqi electricity ministry said the cuts placed Baghdad and other cities at risk of serious power shortages.
“The Iraqi Ministry of Electricity owes more than $5 billion in gas bills to the National Iranian Gas Company (NIGC), of which $3 billion remains blocked and inaccessible in .TBI (Trade Bank of Iraq), and more than $2 billion is overdue debt,” NIGC said in a statement.
Iran has been unable to access billions of dollars in assets in several countries due to U.S. sanctions.
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