Iraq transfers $500 million to Kurds in budget deal

by lonelyintexas Wed 19 Nov 2014, 8:04 am

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Post n°1

Iraq transfers $500 million to Kurds in budget deal

by lonelyintexas Wed 19 Nov 2014, 8:04 am

Iraq transfers $500 million to Kurds in budget deal

BAGHDAD - Agence France Press

November 19, 2014

The Iraqi government transferred $500 million to the autonomous Kurdish region on Nov. 19 as part of a deal aimed at ending long-running oil and budget disputes, the finance minister said.
The move eases tensions between the federal and regional governments, paving the way for a lasting settlement as well as possible increased cooperation against jihadists they are both fighting.

"The Iraqi finance ministry... on Wednesday transferred the amount of 583 billion Iraqi dinars, which equals $500 million, to the account of the regional government," Hoshyar Zebari said at a news conference.

Upholding its side of the deal to transfer 150,000 barrels of crude per day to Baghdad's control, the three-province Kurdish region began moving oil to federal oil tanks in the Turkish port of Ceyhan on Tuesday, Zebari said.

"This mutual implementation means that the two sides are ready to resolve all the other issues and all the issues are up for discussion," he said.

Baghdad has long opposed the Kurdish region's independent export of oil, while Kurdish leaders have sharply criticised Baghdad for withholding budget payments to the region for much of this year.
The two sides are also at odds over control of a swathe of northern territory that the Kurds want to incorporate into their autonomous region, a move Baghdad strongly opposes.

The deal is one of the most significant achievements of the new Iraqi government of Prime Minister Haidar al-Abadi, and marks an important improvement in ties between Baghdad and Arbil, which reached new lows under the previous premier.

In praising the deal, Oil Minister Adel Abdul Mahdi had previously said that it eases a dispute "that threatens not only economic, security and political interests, but also threatens national unity." It comes at a time when both federal and Kurdish forces are battling jihadists of the Islamic State group, which spearheaded an offensive that has overrun large areas of the country since June.

Federal and Kurdish forces have worked together in some specific battles, but largely seem to have fought their own separate wars so far.

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The really cool thing is they paid this in Iraqi Dinar.
Thanks
LIT
yes

by lonelyintexas Wed 19 Nov 2014, 8:12 am

lonelyintexas

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Post n°2

Re: Iraq transfers $500 million to Kurds in budget deal

by lonelyintexas Wed 19 Nov 2014, 8:12 am

Iraq, Kurdish region start implementing oil export deal

November 19, 2014 - 16:55 AMT

PanARMENIAN.Net - The government of Iraq and the semi-autonomous Kurdistan region have begun implementing a deal under which Baghdad resumes funding Kurdish civil servant salaries in return for a share of Kurdish oil exports, Iraq's Finance Minister said on Wednesday, Nov 19, according to Reuters.

The accord aims to reduce friction between Baghdad and Kurdish authorities as they face a common threat from Islamic State insurgents who have seized large parts of the north and west of the country.

Under the agreement reached last week, Kurdish authorities committed to pump 150,000 barrels per day of oil - around half their overall shipments - to Iraqi government export tanks in the Turkish port of Ceyhan.

Baghdad agreed to pay $500 million towards Kurdish salaries.

Finance Minister Hoshiyar Zebari said that the Kurdish Regional Government began pumping oil to State Oil Marketing Organisation (SOMO) tanks at Ceyhan on Tuesday and the $500 million was transferred on Wednesday.

"This payment will be followed by other payments," Zebari, who is a Kurd, told a news conference in Baghdad.

Baghdad cut the Kurds' share of the budget to punish them for exporting oil without its consent. The region was plunged into financial crisis, but has continued pumping oil through its independent pipeline to Turkey, and exports recently increased to around 300,000 bpd.

Iraqi leaders are under pressure to bury differences in order to counter Islamic State militants who control substantial parts of Iraq and neighboring Syria.

In July, then-foreign minister Zebari said the Kurdish political bloc withdrew from the national government in protest against then-prime minister Nuri al-Maliki's accusation that Kurds were harboring Islamist insurgents in their capital.

The Kurds later rejoined the administration. But tensions persist even after Maliki's replacement by Prime Minister Haider al-Abadi, also a Shi'ite Muslim but seen as more moderate and capable of cooperating with Sunni Muslims and Kurds.

There are about 5 million Kurds in majority Arab Iraq, which has a population of more than 30 million. Most live in the north, where they run their own affairs, but remain reliant on Baghdad for a share of the national budget.

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Another great article, the oil is flowing also. It's a good day.
Thanks
LIT

by day dreamer Wed 19 Nov 2014, 8:49 am

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Post n°3

Re: Iraq transfers $500 million to Kurds in budget deal

by day dreamer Wed 19 Nov 2014, 8:49 am

woohoo .....I hear that train a coming!!!
bighug

by CITEX Wed 19 Nov 2014, 9:37 am

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Post n°4

Re: Iraq transfers $500 million to Kurds in budget deal

by CITEX Wed 19 Nov 2014, 9:37 am

This almost seems unreal for the Kurdish regional government and Bagdad to actually be getting AND exchanging not only money but oil also.... lions and tigers and bears oh my....