Tehran, IRNA - The Secretary General of the Iran-Iraq Joint Chamber of Commerce Hamid Hosseini says that the US has agreed to unfreeze some $500m worth of Iraq's electricity arrears to Iran.

Speaking to IRNA on Saturday, Hosseini said that US authorities had agreed to a request by Iraqi Foreign Minister Fuad Hussein during the diplomat’s visit to Washington last month to unfreeze the funds.

Iraq owes billions of dollars to Iran for imports of natural gas and electricity. The funds remain blocked in an account in the Trade Bank of Iraq.

Baghdad has received rounds of waivers from Washington’s sanctions on Iran to be able to import energy from its neighbor.

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