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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Finance Minister: There is no share for the Kurdistan region in the next general budget, except afte

rocky
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budget - Finance Minister: There is no share for the Kurdistan region in the next general budget, except afte Empty Finance Minister: There is no share for the Kurdistan region in the next general budget, except afte

Post by rocky Fri 17 Jun 2022, 2:32 pm

Finance Minister: There is no share for the Kurdistan region in the next general budget, except after its agreement with the Ministry of Oil

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Finance Minister Ali Abdul Amir Allawi




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The Iraqi Minister of Finance, Ali Abdul-Amir Allawi, said that the Federal Supreme Court's decision to invalidate the oil and gas law in the Kurdistan region prevents the central government from allocating a portion of the upcoming general budget as a share for the Kurdistan Region .
In answering a question in this regard in an interview with the (Iraq Oil Report) website in Baghdad, Allawi stated that the previous budgets included paragraphs allocating 12% of expenditures to the Kurdistan Region, on the condition that Erbil sends the equivalent of oil revenues exported from the region’s fields, but in fact This agreement was not implemented, and was replaced by temporary agreements between Baghdad and Erbil, according to which Kurdistan received semi-regular monthly transfers worth 200 billion Iraqi dinars ($138 million), but these transfers will not continue .
Allawi said: My job is to implement the law, not to break the law. In the 2021 budget, there was a clear condition that the Kurdistan Regional Government must either hand over oil exports to SOMO or hand over the equivalent of money, which did not happen, so transfers to the Kurdistan Regional Government as dues from the general budget are no longer valid .
This time, if SOMO informs us that it did not have a legal basis, and that the Ministry of Oil did not find a legal structure to cover its ownership of that oil, then for us it basically means that this oil was seized and produced (illegally) and exported by the Kurdistan Regional Government (in a legal form). illegal) according to the interpretation of the Federal Court, which we consider at the federal level the highest legal authority .
He added, when we sent the money in the past, we were discussing this agreement on the basis that the oil belongs to the Kurdistan Regional Government and they have the right to extract it, whether we agreed or not with the oil contracts and the partnership contracts for extractive companies in Kurdistan, but this issue was not raised previously .
Now, the issue of ownership of the oil fields in the region has arisen, so if we transfer their entitlements to the budget - whatever their percentage - the other side of the equation will not be addressed at all, and in fact there is no other side to the equation, in the past there was an explicit recognition that this is oil The Kurdistan Regional Government, but now they do not have the right to act, and according to the decision of the Federal Court - although the Kurdistan Region will not accept this talk - now this oil belongs to us .
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