Iraq on June 10 paid debt owed to Iran for gas and electricity imports, according to the Islamic Republic News Agency (IRNA), transferring $1.6 billion to pay down debt acquired under the previous governments of prime ministers Haidar al-Abadi and Adel Abdul Mahdi.
Under the agreement between the two countries, Iran guaranteed access to 50 billion cubic meters of gas for the summer. However, a high-ranking source from Iraq’s Electricity Ministry told Al-Monitor that Iran is only providing Iraq with 40 billion cubic meters, which is not a sufficient amount to meet Iraq's needs in the summer when temperatures can soar above 50 degrees Celsius (122 Fahrenheit). Iran's gas industry has been handicapped as a result of a lack of investment due to US sanctions.
