The Trade Bank of Iraq is expected to stop processing payments to Iran if US sanction exemptions expire next month, Agence France-Presse reported Tuesday. The bank is used by Iraq to pay for Iranian gas imports that are used to power the country’s electricity grids. About a third of Iraq’s electricity supply relies on Iran.
“We’ll stop. As simple as that,” the head of the bank, Faisal al-Haimus, told the news agency, adding that the bank will not pay for or deal with any Iranian entity over gas or electricity.