Iraq oil fight worsens with budget threat

Baghdad officials call for a cut to the KRG budget after oil shut-in and allegations of smuggling to Iran.
Iraq oil fight worsens with budget threat
Iraq's Deputy Prime Minister for Energy Affairs Hussain al-Shahristani (L) speaks during a joint news conference with Iraqi Oil Minister Abdul-Kareem Luaibi in Baghdad, April 2, 2012. (SAAD SHALASH/Reuters)

Baghdad's top energy officials unleashed a litany of allegations and threatened to punish the semi-autonomous Kurdistan region for cutting off its exports, as Iraq's long-standing oil disputes continued to escalate.Deputy Prime Minister for Energy Hussain al-Shahristani claimed that the Kurdistan Regional Government (KRG) had deprived Iraq of $5.65 billion worth of oil revenue by shutting in promised exports and allegedly smuggling through Iran. Shahristani said the Cabinet would move to rec...

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