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The Iraqi Cabinet is targeting more than $3 billion in cuts from the KRG budget, as a bitter dispute over oil exports comes to a head.

Baghdad advances threat to Kurdistan budget

Baghdad advances threat to Kurdistan budget
After a successful inspection, workers put a final coating of tape on a joint in the Erbil-Dohuk gas pipeline. (KAMARAN NAJM/Metrography/Iraq Oil Report)
By Ben Lando and Staff of Iraq Oil Report
Published Wednesday, September 5th, 2012

The Iraqi Cabinet is moving forward with threats to punish the semi-autonomous Kurdistan region for defying Baghdad in a dispute over oil exports.Prime Minister Nouri al-Maliki's spokesman indicated Tuesday that the Cabinet is prepared to deduct more than $3 billion from the Kurdistan Regional Government's (KRG) $10.5 billion allocation from the federal budget.Leaders in Baghdad accuse the Kurds of depriving Iraq of billions of dollars' worth of oil revenue by failing to meet the terms...

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