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Iran shuts border to oil tankers from Kurdistan

An Iranian ban on Kurdish crude and fuel exports eliminates a major route for companies to monetize production and threatens to further reduce KRG revenues.
Tankers carrying crude oil from Kurdistan queue at that Parwezkhan border crossing in Diyala province, Nov. 6, 2013. (PATRICK OSGOOD/Iraq Oil Report)
Patrick Osgood, Andy Watkins and Mohammed Hussein of Iraq Oil Report
Friday, July 18th, 2014

ERBIL - Iranian authorities have shut the border to tanker trucks from Iraq's autonomous Kurdistan region, cutting off a major avenue for oil sales.

The ban, put in force on July 10, may complicate the Kurdistan Regional Government's (KRG) efforts to achieve economic independence, and also represents a setback for producing companies that need to sell their oil. At times, Iran had been providing a route to market for more than a quarter of the region's oil production.

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