(Bloomberg) — Iran will use money from energy exports to Iraq to buy coronavirus vaccine from Europe, Energy Minister Reza Ardakanian said.
He made the statement following a visit to Baghdad after Iran reduced natural gas supplies to Iraq over unpaid bills, the state-run Islamic Republic News Agency reported. Iraq cleared a “considerable amount” of its debt for electricity purchases and part of the debt for natural gas imports from Iran, Ardakanian said.
On Monday, the National Iranian Gas Co. said it was owed $5 billion for gas supplies to Iraq and an additional $1 billion as penalties.
Iran will also use the money to buy essential goods, Ardakanian said.
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