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Iraq government and Kurdish region strike budget and oil export deal | Iraq government and Kurdish region strike budget and oil export deal |
(35 minutes later) | |
Iraq’s government and the autonomous Kurdish region have reached an agreement resolving a longstanding dispute over the budget and oil, a move seen as a key step in improving cooperation against jihadists. | |
A statement from the Iraqi prime minister Haider al-Abadi’s office on Tuesday said the deal, which comes in to effect next month, was approved during a cabinet meeting also attended by the Kurdish prime minister, Nechirvan Barzani. | |
“We have reached an agreement with the Iraqi government which will benefit both parties and whereby we will export 250,000 bpd [barrels per day] of regional oil and help the federal government export the Kirkuk oil,” said Barzani. | |
The deal will see oil from the Kurdish region or claimed by its leadership exported via Kurdish pipelines but through the federal oil company. | The deal will see oil from the Kurdish region or claimed by its leadership exported via Kurdish pipelines but through the federal oil company. |
In return, Baghdad will release the Kurdistan regional government’s share of national revenue, which had been frozen for more than a year in retaliation for Irbil’s efforts to export oil unilaterally. | |
It will also give a share of its military budget to the Kurdish peshmerga fighters. Barzani said Abadi had guaranteed a $1bn [£638m] share. | |
Abadi’s office did not confirm the exact amount, saying the Kurdish military would get a percentage of the federal armed forces’ budget. | |
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