ERBIL, Kurdistan Region - In what could be a breakthrough in a longstanding dispute between Erbil and Baghdad, the Kurdistan Region’s oil revenues will be held in a joint account, but the Iraqi government’s access will be limited to observation, according to a government source.
An advisor to Iraqi Prime Minister Mohammed Shia al-Sudani announced the agreement on Thursday. “The high understanding and keenness of the federal government and the Kurdistan Regional Government resulted in what was stated in the federal budget, as for the first time since 2003 the region's oil revenues are in a known account and under the supervision of the federal government. And in light of that all other accounts were closed,” Hisham al-Rikabi tweeted.
A source within the Kurdistan Regional Government (KRG), speaking on condition of anonymity, confirmed to Rudaw English on Friday that a joint account will be opened, but it will be managed by the KRG. The Iraqi government “won’t have access to do anything except observing,” the source stated.
The KRG’s independent oil sales and revenue sharing between the regional and federal governments have been constant sources of friction between Erbil and Baghdad.
The President of Kurdistan Region, Nechirvan Barzani, confirmed multiple times, most recently on Wednesday during the Suli Forum, that for the first time in history, there is a written agreement between the KRG and the federal government over on-going issues.
An advisor to Iraqi Prime Minister Mohammed Shia al-Sudani announced the agreement on Thursday. “The high understanding and keenness of the federal government and the Kurdistan Regional Government resulted in what was stated in the federal budget, as for the first time since 2003 the region's oil revenues are in a known account and under the supervision of the federal government. And in light of that all other accounts were closed,” Hisham al-Rikabi tweeted.
A source within the Kurdistan Regional Government (KRG), speaking on condition of anonymity, confirmed to Rudaw English on Friday that a joint account will be opened, but it will be managed by the KRG. The Iraqi government “won’t have access to do anything except observing,” the source stated.
The KRG’s independent oil sales and revenue sharing between the regional and federal governments have been constant sources of friction between Erbil and Baghdad.
The President of Kurdistan Region, Nechirvan Barzani, confirmed multiple times, most recently on Wednesday during the Suli Forum, that for the first time in history, there is a written agreement between the KRG and the federal government over on-going issues.
By Azhi Rasul
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