US extends sanctions waiver for Iraq to import Iranian gas and power
Although there has been no official confirmation, Iraq Oil and Gas Report stated that US Secretary of State Mike Pompeo okayed the new waiver on Friday, just three days before the end of the previous 90-day period.
Iraq is heavily reliant on Iranian gas to keep the lights on at home due to a massive shortfall in electricity production compared to demand. With the long hot summer just starting, Baghdad fears that a loss of Iranian supplies could lead to instability. Although Iraq is looking to fix its damaged infrastructure, there are few fast options.
The US granted waivers to several countries that relied heavily on Iranian oil and gas when it reimposed sanctions on Tehran last year but did not renew the waivers in May this year. ■