New hope for Baghdad-KRG oil and budget deal
Federal financial transfer signals political will to implement an agreement that could result in re-starting northern oil exports, though further hurdles remain.
Iraqi Prime Minister Mohammed Shia al-Sudani (right) hosts Massoud Barzani, the president of the Kurdistan Democratic Party, in Baghdad on July 3, 2024. (Photo credit: Prime Minister's Office)
ERBIL - The Iraqi government has taken a significant step toward implementing a plan to re-start northern oil exports, making a budget transfer of 975 billion Iraqi dinars ($744 million) on Thursday to fund salary payments for civil servants of the Kurdistan Regional Government (KRG).
The federal Finance Ministry indicated in a July 22 statement that it would make the transfer, and the KRG Ministry of Finance confirmed in a statement Thursday that the funds have now been received. The long-delayed distribution of May salaries is set to begin on Friday.
Login to your account
Subscribe for news access
Annual News subscribers receive access to the full archive of Iraq Oil Report articles.
