Iraq to provide Lebanon with 1M tonnes of fuel oil for its power plants in exchange for medical services, under a deal signed in Baghdad
Lebanon's Minister of Energy and Water Raymond Ghajar and Iraq's Finance Minister Ali Abdul-Amir Allawi sign bilateral agreements, in the Iraqi capital Baghdad on July 24, 2021. has signed a deal to broker Iraqi fuel sales in hopes of alleviating a crippling financial and energy crisis in the small Mediterranean country, Lebanese and Iraqi media have reported.
The swap, which Ghajjar estimates is valued at between $300-400 million, could offer a brief respite to Lebanon’s worsening power cuts and bring funds to its cash-strapped government. But a structural power solution, in a sector steeped in corruption and political interference, is far from sight.have been a fixture in Lebanon since the end of its 15-year civil war in 1990, and the small country relies on imported fuel.
A statement from Iraq’s Prime Minister’s office said the 1 million barrels of fuel oil would be offered to Lebanon in exchange for services and products, although neither side immediately mentioned what these were.Lebanon's state electricity company has most recently been providing no more than four hours of power a day, leaving private generator operators as the main providers. Diesel supplies have dwindled, and long queues stretch outside gas stations each day.
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