From 5 points… Disclosure of the details of an agreement between Baghdad and Erbil regarding the region’s oil



Economy News / Baghdad

On Saturday, economist Nabil Al-Marsoumi revealed that the central government had reached an agreement with Erbil that included five points.

Al-Marsoumi said in a Facebook post, “The Iraqi government and the Kurdistan Regional Government reached a preliminary agreement regarding oil sales, after the international tribunal’s decision.”

The agreement includes that “Kurdistan’s oil sales will be through SOMO and the formation of a joint committee between the regional government and the federal government to monitor the process of exporting oil from Kurdistan.”

As well as “putting oil revenues in the Kurdistan Region in a bank account, as stated in the 2023 draft budget, and the Kurdistan Regional Government must gradually cancel all contracts with oil companies.”

 Al-Marsoumi indicated that “the position of deputy director of SOMO will be assigned to the Kurds, and oil exports from Kurdistan will resume within two days.”

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