Iran Central Bank Chief in Baghdad to recover $11B and expand $12B trade

Baghdad (IraqiNews.com) — Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati, arrived in Baghdad leading a high-level economic delegation on an official visit to negotiate the recovery of approximately $11 billion in Iranian funds and receivables held in Iraq and strengthen cross-border trade flows. According to reports published by official state channels, Hemmati’s schedule includes bilateral sessions on Monday, August 17, 2026, with Central Bank of Iraq (CBI) Governor Nizar Nasir Hussein, the Iraqi Minister of Finance, and Prime Minister Ali Falih al-Zaidi. Key Discussion Pillars & Financial Metrics Recovering $11B in Frozen Assets:Unlocking mechanisms to settle outstanding gas and electricity export arrears, comprising roughly $7 billion deposited at the Central Bank of Iraq and over $3 billion in dues owed to Iran’s Ministry of Petroleum. Pre-War Trade Benchmarks:Hemmati noted that Iranian non-oil exports to Iraq stood at approximately $12 billion prior to recent regional military escalations, emphasizing Tehran’s commitment to protecting and expanding private-sector commercial volumes. Joint Economic Committee:Finalizing arrangements with Iraqi Minister of Trade to convene the upcoming Iran–Iraq Joint Economic Commission in Baghdad, co-chaired on the Iranian side by the Minister of Economic Affairs and Finance. Investor & Contractor Grievances:Hemmati held consultative sessions in Baghdad with Iranian contractors, traders, and private investors operating in Iraq, agreeing to escalate issues concerning currency repatriations, customs tariffs, and project payments directly to Prime Minister Al-Zaidi. Hemmati’s mission builds on high-level talks held during Prime Minister Al-Zaidi’s July visit to Tehran, focusing on humanitarian clearing mechanisms, goods-for-debt settlements, and trade escrow accounts. By establishing alternative commercial clearing arrangements, Tehran seeks to secure essential commodity imports and safeguard cross-border commerce while navigating international banking constraints and liquidity pressures.