Iraq’s caretaker government has agreed to re-new a swap deal with Lebanon under which Baghdad (indirectly) supplies fuel for the beleaguered power sector of the east Mediterranean state.
Lebanese PM Najib Mikati said on 12 August that Iraq has agreed to extend the deal “for a period of one year, under the same conditions as before.” In June 2021 Iraq pledged Lebanon 1mn tons (6.5mn barrels) of fuel oil to be utilized for power generation (MEES, 18 June 2021). Under the swap, Iraq would receive payment in services. But Iraq’s fuel oil falls short of Lebanon’s standards and a convoluted swap deal was arranged with Lebanon receiving a variety of fuels including gasoil (MEES, 17 September 2021). (CONTINUED - 198 WORDS)