Bumped ... Snip ~ "The European Union followed suite and on January 23 agreed to impose a ban on oil imports from Tehran and freeze the assets of the Central Bank of Iran across the EU as of July 1st"
February 2, 2012
Iraq seeks waiver for Iran sanctions
Iraq says the sanctions imposed against neighboring Iran by the US cause difficulties for Baghdad, announcing the country plans to seek a waiver from Washington.
"It is not possible for Iraq to follow such sanctions…We are looking for our own interests," Iraqi government spokesman Ali al-Dabbagh said on Thursday.
Dabbagh referred to the “huge” volume of trade between the two countries' private sectors, noting Iran is the main supplier for many products ranging from electricity and fuel to food and various other commodities in Iraq.
"In a few days, we are going to submit a request to the United States to exempt us," the official added.
The remarks come amid new US-led attempts to pressure Iran into giving up its civilian nuclear program by imposing unilateral sanctions on the country's banking and energy sectors.
On October 31, 2011, US President Barak Obama signed into law fresh economic sanctions against Iran's Central Bank in an apparent bid to punish foreign companies and banks that do business with the Iranian financial institution.
The bill requires foreign financial firms to make a choice between doing business with Iran's Central Bank and oil sector or with the US financial sector.
The European Union followed suite and on January 23 agreed to impose a ban on oil imports from Tehran and freeze the assets of the Central Bank of Iran across the EU as of July 1.
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