Money-strapped Lebanon inks gas-for-products and services deal with Iraq

Lebanon’s funds-strapped federal government will spend for 1 million tons of major gas oil a 12 months in goods and services, in accordance to a new offer with Iraq that will let Beirut to ease its acute energy lack, the two sides claimed on Saturday.

Lebanon is in the throes of an economic meltdown threatening its stability. It has all but run down foreign reserves and faces a developing lack of fuel, drugs and other fundamental items. Most Lebanese face electricity cuts for several hrs a day.

Lebanese caretaker Vitality Minister Raymond Ghajar, speaking on his return to Beirut just

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