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Lebanon and Iraq plan to exchange about $200 million worth of heavy fuel for in-kind services, including medical expertise, caretaker energy minister Raymond Ghajar told
The National on Sunday.
The deal, which has been in discussion for “two to three years”, involves Lebanon buying 500,000 tonnes of heavy fuel from Iraq, currently worth roughly $200m, Mr Ghajar said.
The Lebanese government will deposit the money in a special account at Lebanon’s central bank for Iraq to spend locally on “any type of service, like health services”, said Mr Ghajjar.
“It’s not up to us, it’s up to them to decide what to do with the money,” he added.
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Officials from Beirut and Baghdad signed a preliminary agreement Friday that would see Lebanon trade its medical expertise for Iraqi fuel supplies, Lebanese state media reported.
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