RE: Flowing - fingers crossed24 Apr 2023 12:50
Rudaw Digital
Kurdistan Regional Government (KRG) has suspended oil exports through the port of Jayhan for nearly a month. "The Iraqi prime minister is serious about resuming oil exports from the Kurdistan Region," a member of the Iraqi parliament said.
On Monday 24-04-2023, Sipan Sherwani, a member of the Economy, Industry and Commerce Committee of the Iraqi Parliament, said during a participation in Rudaw's Noorroz program, hosted by Nama Nabaz and Surya Hasari Kurdistan Regional Government (KRG) oil exports will resume this week.”
The Iraqi government and the Kurdistan Regional Government (KRG) have signed an oil export agreement since April 4, but exports have not yet resumed.
“It will take time to re-export because there are some technical, financial and legal issues and it is not easy to solve them all overnight,” Sherwani said.
The International Chamber of Commerce (ICC) in Paris on Thursday ruled against the export of oil from the Kurdistan Region of Iraq (KRG) through Turkey. According to the decision, Turkey will no longer export oil from the Kurdistan Region without the consent of Baghdad.
The member of the Economy, Industry and Commerce Committee of the Iraqi Parliament said that the Iraqi Prime Minister is serious about solving the problem of oil exports from the Kurdistan Region and efforts continue.
Previously, Kurdistan Regional Government (KRG) oil was sold independently, but now it is sold by the Iraqi Oil Marketing Company (SOMO). Sherwani said the mechanism for selling oil in the Kurdistan Region has changed and there are some legal issues between the two countries on Iraq's complaint against Turkey.
Iraq has officially sent a letter to Turkey to resume oil exports from the Kurdistan Region, and Sipan Sherwani is "optimistic" that oil exports will resume soon.
The member of the Economy, Industry and Commerce Committee of the Iraqi Parliament said that the issue of resumption of oil in the Kurdistan Region is more related to the negotiations and agreement between Iraq and Turkey on the decisions of the Paris Court.
The Paris court ruled that Turkey violated a 1973 agreement by selling oil from the Kurdistan Region from 2014 to 2018 without the permission of the Iraqi Federal Oil Ministry, so it ordered the defendant to pay $1.47 billion in compensation.
"There are some issues in which Turkey has suffered and Iraq must compensate them, and this will take some more time," Sherwani said.
The parliamentarian estimated the amount of damage caused by the suspension of oil exports to "more than one billion dollars" and said that all parties will suffer.
According to Sherwani, the main loser of the oil suspension is not the Kurdistan Region. “There is an agreement between Baghdad and Erbil and they have