Politics

Baghdad approves 3-month stop-gap funding for KRG

Three monthly loans of $538 million promise temporary relief to pay civil servant salaries, but unresolved questions loom for Kurdistan's oil industry.

KRG Prime Minister Masrour Barzani (center left) meets with former Iraqi Prime Minister Nouri al-Maliki (center right), the leader of the State of Law coalition, in Baghdad on Sept. 14, 2023. (Photo credit: KRG)

Sep 12, 2023

Budget stalemate threatens Kurdistan’s solvency and stability

Baghdad takes a hard line against budget transfers to KRG as negotiations falter, prompting civil servant strikes and imminent protests.

Aug 18, 2023

Upcoming Iraq-Turkey diplomacy aims for pipeline progress

Imminent ministerial-level visits to Baghdad and Ankara are likely to address major challenges to restarting Iraq’s northern exports.

Aug 2, 2023

Partial budget payment highlights divide in Baghdad-Erbil negotiations

The KRG has received 598 billion dinars under the new budget law — a fraction of its theoretical monthly entitlement.

Jul 28, 2023

Baghdad and Erbil claim progress toward budget implementation

Key details remain unresolved, including the lynchpin issue of whether oil companies will get paid enough to enable KRG fields to restart.

Jul 25, 2023

KRG begins implementing budget law with crude transfers to Baghdad

Sign of cooperation bolsters KRG argument for starting federal budget transfers.

Jul 13, 2023

UPDATE: Deal struck to trade Iranian gas for Iraqi oil

The oil-for-gas deal could sort out a number of internal Iraqi issues – both energy and political.

Jun 13, 2023

Parliament passes budget after gutting KRG revenue guarantees

New budget law appears to represent a rejection of the recent Baghdad-Erbil political deals that had sought to balance oil and financial authorities.

Jun 8, 2023

Protesting refinery workers block fuel supplies in southern Iraq

Upset about provisions in Iraq's draft budget law, refinery employees are shutting down tanker traffic and threatening a crippling fuel shortage.

May 27, 2023

New budget law changes threaten Baghdad-Erbil oil deal

Last-minute additions to the budget bill could undermine a new framework for oil and financial cooperation needed to restart northern exports and support Kurdistan’s oil sector.

May 25, 2023

Budget loans give KRG financial lifeline

Baghdad has sent nearly $1 billion to Kurdistan since March, highlighting political cooperation that could grow into reliable financial flows with the passage of a new budget law.

May 16, 2023

Northern exports still off as Turkey cites “technical issues”

Iraq is ready to restart pipeline exports and relieve financial pressure on the KRG, but Turkey’s delays are prompting speculation of political complications.

Apr 8, 2023

Analysis: Iraq’s arbitration win reshapes Baghdad-Erbil relationship

Key details of the landmark Iraq-Turkey arbitration ruling have big implications for the future of Baghdad-Erbil power dynamics and the KRG oil sector.

Apr 4, 2023

Baghdad, Erbil sign temporary deal to resume northern exports

Signing ceremony signals strong political backing for agreement, but pipeline flows remain shut as technical details are still being negotiated.

Apr 2, 2023

Progress in Baghdad-Erbil talks over northern export restart

Under a provisional compromise deal, SOMO would take over selling crude and KRG would keep control of its oil revenue.

Mar 25, 2023

Turkey halts Iraq’s northern exports after landmark arbitration ruling

Baghdad's legal victory appears to be altering the balance of power that has enabled Kurdistan's oil sector independence.

Mar 14, 2023

Cabinet passes draft budget with record spending and new KRG framework

Attempting to triangulate between opposing political forces, Sudani also pushes through a long-delayed financial transfer to Kurdistan.

Mar 9, 2023

Oil Ministry eases Kurdistan blacklist pressure

The Sudani administration appears to be turning a blind eye to the blacklist policy enacted by the previous government against KRG oil sector companies.

Feb 28, 2023

New oil law negotiations highlight old divisions

In early talks between Baghdad and Erbil, negotiators have outlined the same points of conflict that have stalled oil legislation since 2007.

Feb 8, 2023

Central bank raises value of Iraqi dinar

The new rate, which takes effect immediately, aims to ease financial strain on Iraqis but could make Iraq more vulnerable to future crises.

Jan 26, 2023

Iraqi court strikes down Kurdistan budget transfers

Iraq's highest court ruled against stop-gap financial transfers seen as key confidence-building measures in a sputtering rapprochement between Baghdad and Erbil.

Jan 24, 2023

As Iraq’s currency weakens, Sudani replaces central bank governor

Iraq's prime minister reshuffles the leadership of the Central Bank of Iraq and the Trade Bank of Iraq amidst efforts to stabilize the weakening dinar.

Dec 13, 2022

Sudani seeks warmer ties with KRG, starting with budget talks

The 2023 national budget is the first test of the new Iraqi prime minister's pledge to improve relations between Baghdad and Erbil.