Iraq to clear debts by goods: Businessman

TEHRAN ( Iran News ) – Iran and Iraq have set up a new mechanism to settle debts owed by the Arab country over imports of electricity and natural gas from Iran, an Iranian businessman said. Yahya Al-e Es’haq, who chairs the Iran-Iraq Joint Chamber of Commerce, said on Monday that the Iraqi government had agreed to pay for shipments of non-sanctioned goods ordered by Iran from other countries to clear its debt arrears to Tehran. Al Es’haq told ILNA that Iraq owes Iran some $3-4 billion on arrears for imports of electricity and natural gas