For the first time, Iran is officially offering oil in exchange...

For the first time, Iran is officially offering oil in exchange...
For the first time, Iran is officially offering oil in exchange...

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For the first time .. Iran is officially offering oil in exchange for its worsening debts, Monday, September 28, 2020 7:30 pm

Press TV, the government-run television station, said, according to a statement by the Ministry of Finance, that Tehran would allow the payment of government sukuk holders in the form of oil exports. And the interest due on it.

It was not clear how the deal would be concluded, but it is assumed that the sukuk holders will have access to futures contract options, but the report did not include an implementation mechanism.

Iran examined options to boost its revenues that have been hit by the coronavirus crisis and US sanctions, and earlier this year, it was planning to offer oil-backed shares to its citizens and sell stakes in state-owned companies on the local stock exchange.

Iran’s economy has been suffering since 2018, after the United States withdrew from the nuclear deal concluded by six world powers with Iran and re-imposed sanctions that narrowed the screws on Iran’s oil trade.

Press TV stated that, in the event of implementation, this will be the first time that oil is used to repay bonds issued in the local market, and the United States is trying to tighten the screws on Iran to prevent it from persisting in its nuclear program and its threats to its neighbors.

The United States extended for 30 days the exemption period granted to Iraq from sanctions related to dealing with Iran, on which Baghdad relies for energy imports.

Washington has continued, since November, to extend the exception granted to Baghdad, to find an alternative to Iran, which supplies Iraq with electricity, which suffers from a chronic shortage, especially with the high temperatures that have begun now.

Also read:

An Iraqi militia loyal to Iran threatens the US embassy in Baghdad with precision weapons

Two Iranian border guards were killed in clashes with gunmen in “Hor al-Azim”

US State Department: The Iranian nuclear program is a threat to international peace

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