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US extends Iraq's sanctions waiver for four month

WASHINGTON, DC - MAY 20: U.S. President Joe Biden delivers remarks on the conflict in the Middle East from the White House on May 20, 2021 in Washington, DC. Israel and Hamas announced that they would agree to a cease-fire, which will take into effect on Friday, following days of fighting that claimed more than 200 lives. (Photo by Anna Moneymaker/Getty Images)
US President Joe Biden in the White House on May 20, 2021 in Washington, DC [Anna Moneymaker/Getty Images]

The administration of US President Joe Biden has extended the exemption period granted to Iraq from sanctions related to dealing with Iran for a period of four months, an Iraqi official said yesterday.

AFP quoted an unnamed Iraqi official as saying that under the new exception, Iraq will be able to continue importing electricity and gas from Iran for an additional four months, ending in early December.

The four months exemption period is the longest period allowed by US law.

Iraq relies heavily on Iran in the field of energy, as it imports a third of its consumer needs of gas and electricity from Tehran.

Iraq currently produces 16,000 megawatts of electricity, which is much less than its estimated need of 24,000 megawatts, and up to 30,000 in summer.

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