ERBIL, Kurdistan Region - The decree by Iraq's top court against the Kurdish oil and gas industry is an "opportunity" for Erbil to settle differences with Baghdad and improve relations "once and for all," Kurdistan Region Deputy Prime Minister Qubad Talabani said at an economic forum in Greece on Saturday.
Talabani viewed the widely-criticized federal decree regarding the Kurdistan Region's oil and gas industry as an opportunity to "settle the issue of oil with Baghdad," as he gave his remarks at the seventh Delphi Economic Forum in Greece, adding that the improvement of relations with Baghdad could ensure that Kurdish oil gains a foothold in the global market amid an ongoing economic crisis.
"We have no doubt that Kurdish gas can contribute, and alleviate many problems that the world is facing with gas shortages," Talabani said.
The deputy premier highlighted Russia's ongoing invasion of Ukraine as a key factor in the aggravation of the current economic crisis that has far-reaching implications way beyond that of solely oil, extending to the food market as global food prices have reached an all-time high.
Talabani stated that Iraq is "still locked in crisis, still locked in war, whether it's political war or cold war, or sometimes a physical war with missiles and bombs," as he noted the parliament's failure to form a government six months after snap elections were held in October.
An overreliance on oil is also an issue that needs tackling according to Talabani. The deputy PM addressed the Kurdistan Region's untapped potential in the tourism industry.
"If we can manage our tourism sector better than we're doing now ... we can have a thriving industry," he said, calling the country's dependency on oil a "curse."
"When Kurdistan becomes a government that has increased sources [of income] and doesn’t solely rely on oil, we can distance ourselves from the current financial crisis," Talabani told Rudaw’s Znar Shino following his speech.
Iraq's top court's decision on February 15, found the Kurdistan Region's oil and gas law to be "unconstitutional," and therefore struck down the legal basis for the independence of the Region's sector. The decision came amid ongoing political tension as the government formation process is shrouded with instability with the parliament having failed to elect a president almost seven months after the elections.
Officials in the Region were quick to condemn the controversial decision. President Nechirvan Barzani said that the court's decision could further complicate matters between Erbil and Baghdad, while PM Masrour Barzani deemed the decision as "unconstitutional."
The seventh edition of the Delphi Economic Forum began on Wednesday, lasting for four days. This is the first time a delegation from the Kurdistan Regional Government (KRG) attends the event, and the delegation is led by Talabani.
