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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, in a move seen as a key step in improving cooperation against jihadists. 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 was approved during a cabinet meeting also attended by the Kurdish prime minister, Nechirvan Barzani. 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.
When the deal comes into effect at the start of 2015, 250,000 barrels per day (bpd) of oil will be exported from the autonomous region and 300,000 from the disputed province of Kirkuk. “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.
“We have reached an agreement with the Iraqi government which will benefit both parties and whereby we will export 250,000 bpd 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 Arbil’s efforts to export oil unilaterally. 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. It will also give a share of its military budget to the Kurdish peshmerga fighters. Barzani said Abadi had guaranteed a $1bn [£638m] share.
“The federal prime minister has expressed his readiness to guarantee $1bn from the Iraqi budget for the peshmerga forces,” Barzani said. Abadi’s office did not confirm the exact amount, saying the Kurdish military would get a percentage of the federal armed forces’ budget.
Abadi’s office simply said that the Kurdish military would get a percentage of the federal armed forces’ budget.