Iraq, Lebanon set to renew power fuel agreement

Shafaq News- Baghdad

Lebanese Prime Minister Nawaf Salam is expected to visit Baghdad on Sunday for talks on renewing Iraq's fuel supply agreement with Lebanon and expanding bilateral economic cooperation, Iraqi officials said.

Prime Minister Ali Al-Zaidi's financial adviser, Mazhar Mohammed Salih, told Shafaq News the visit will include the signing of bilateral agreements and discussions on regional developments and cooperation, adding that the two sides would also discuss boosting trade, investment and the possibility of using Lebanon as an additional export route for Iraqi oil to the Mediterranean.

Earlier this month, Lebanese Finance Minister Yassine Jaber stated that payments owed to Iraq for fuel supplies were ready for transfer, pending activation of a payment platform by the Central Bank of Iraq (CBI).

Iraq has supplied fuel oil to Lebanon since 2021 under a deal aimed at easing Lebanon's electricity crisis. The agreement has been renewed several times, with Lebanon's obligations estimated at $2.7 billion.

Read more: Iraq "frustrated" with Lebanon over unpaid fuel debts ...