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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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Established in 2006 as a Community of Reality

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Allawi .. the 2022 budget is devoid of the Kurdistan region's share

rocky
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budget - Allawi .. the 2022 budget is devoid of the Kurdistan region's share Empty Allawi .. the 2022 budget is devoid of the Kurdistan region's share

Post by rocky Sat 18 Jun 2022, 5:21 am

[size=32]Allawi .. the 2022 budget is devoid of the Kurdistan region's share[/size]
[You must be registered and logged in to see this link.] Saturday, June 18, 2022 at 12:33 pm (73 views)
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Sky Press 

The Minister of Finance, Abdul Amir Allawi, announced, on Saturday, that the Federal Court's decision to invalidate the oil and gas law in the Kurdistan region prevents the central government from allocating part of the upcoming general budget as a share for the region.

Allawi said in a press interview, “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 it was replaced by temporary agreements between Baghdad and Erbil, According to it, Kurdistan received semi-regular monthly transfers worth 200 billion Iraqi dinars (138 million dollars)," stressing that "these transfers will not continue."

Allawi added, “My job is to implement the law, not to break the law, and in the 2021 budget, there was a clear condition that the Kurdistan Regional Government must either deliver oil exports to SOMO or hand over the equivalent of the money, which did not happen, so the transfers to the government of The Kurdistan region as dues from the general budget are no longer valid.”

Allawi continued, “This time, if SOMO informed us that it did not obtain 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 was exported by a regional government. Kurdistan (illegally) according to the interpretation of the Federal Court, which we consider at the federal level the highest legal authority .”

And Allawi said that "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," explaining that "whether or not we agreed with oil contracts and participation contracts for extractive companies in Kurdistan, but this issue did not previously affected.”

Allawi continued, "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 ratio - the other side of the equation will not be addressed at all, and in fact there is no other side of the equation."

He pointed out that "in the past, there was an explicit recognition that this is the oil of 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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