It was reported last month that Iraq had signed an agreement to import natural gas from Iran for power generation. This briefing considers the potential sanctions issues which may arise for companies involved with Iraqi power plants supplied by this pipeline and, in particular the risk of contravening the EU restrictions on dealing with Iranian natural gas.
The EU prohibits the purchase or transport of Iranian-origin natural gas and the financing of such activities, together with any measures with the object or effect of circumventing these restrictions. Depending on the precise structure of the relevant Iraqi power projects, there is therefore a risk that companies involved may contravene the EU Iranian gas embargo and/or the US restrictions on dealings with Iran.
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