Hezbollah said on Tuesday that it was in talks with Lebanon’s government about the possibility of Iran supplying the country with refined oil products in exchange for Lebanese pounds.
Sayyed Hassan Nasrallah, the leader of the Iran-backed movement, said a “calm discussion” was underway with the Beirut government over the idea, which would ease the pressure on Lebanon’s hard currency reserves.
The country is suffering an acute financial crisis and hard currency liquidity crunch, compounded by the coronavirus pandemic.
The Lebanese pound has lost some 80 percent of its value since October, when the long-brewing crisis came to a head, sending prices soaring.
“We started a discussion… to see where this option can go,” Nasrallah said in a televised speech.
“This track is moving… What’s the result going to be? I don’t know. But we have to try,” he said.
Iran will announce its official position on the matter at the appropriate moment, he added.
Tensions between Iran and the United States have ratcheted up since 2018, when Washington withdrew from a 2015 nuclear pact between Iran and six major powers and US President Donald Trump reimposed sanctions on Iran, hammering vital oil exports
Nasrallah on Tuesday blamed the US for compounding Lebanon’s economic downturn, accusing it of preventing dollars from entering the cash-strapped country and banning investment.
Source » middleeasteye