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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil Money Account: A Step to Settlement Between Baghdad and Erbil, or a Temporary Calm? Report provi

    Rocky
    Rocky
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    Oil Money Account: A Step to Settlement Between Baghdad and Erbil, or a Temporary Calm? Report provi Empty Oil Money Account: A Step to Settlement Between Baghdad and Erbil, or a Temporary Calm? Report provi

    Post by Rocky Sun 19 Mar 2023, 6:27 am

    [size=45][size=41]Oil Money Account: A Step to Settlement Between Baghdad and Erbil, or a Temporary Calm? Report provides answers[/size]
     15 hours ago
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    The first reactions in Iraq show that allocating a bank account for the oil revenues of the Kurdistan region and making it under government control is a step that would lead to a settlement of the contentious elements between the federal government in Baghdad and the regional government. However, observers believe that this step may be just a front for a temporary calm, after which tension returns, because the Kurds believe that this measure limits their benefit from the region’s oil revenues, according to a report by the London-based Al-Arab. 
    The report quoted the media advisor to the Iraqi Prime Minister, Hisham al-Rikabi, as saying that the understanding between the Iraqi federal government and the Kurdistan Regional Government allows the region's revenues to be at a known account and under the government's control.
    Al-Rikabi confirmed, in a tweet on his official account on Twitter, that "the high understanding and keenness of the federal government and the Kurdistan Regional Government resulted in what was stated in the federal budget."
    He added, "For the first time since 2003, the region's oil revenues are in a known account and under the supervision of the federal government, and in light of that, all other accounts were closed."
    The high understanding and keenness of the federal government and the Kurdistan Regional Government resulted in what was stated in the federal budget, as for the first time since 2003 the region's oil revenues are in a known account and under the supervision of the federal government, and in light of that all other accounts were closed. pic.twitter.com/zSkD8yI5FT
    The move could lead to a breakthrough in the long-running dispute over the sharing of oil revenues between the Iraqi national government and the Kurdistan Region, especially since agreeing on regular payments from the budget will help the KRG mitigate the backlog of its employees' salaries.
    Since assuming the government, Iraqi Prime Minister Muhammad Shia al-Sudani has sought to find a calm with the Kurdistan region, as he visited him a few days ago and talked about a “comprehensive agreement” for all contentious issues between the region and the center.
    During a meeting with the President of the region, Massoud Barzani, Al-Sudani affirmed that the Iraqi government possesses the will and serious desire to radically end the outstanding issues between Baghdad and Erbil, and move to a broad horizon of joint action and economic opportunities that benefit the people of Kurdistan and all the provinces.
    Al-Sudani pushed for the transfer of 400 billion Iraqi dinars ($308 million) to the Kurdish government, about two months after the Federal Supreme Court ruled that orders from the Baghdad government to transfer funds to the KRG to pay salaries in 2021 and 2022 were illegal because they violated the Iraqi budget law.
    It is noteworthy that this agreement is linked to an understanding on the Kurds' share of the budget, an agreement that did not receive complete satisfaction from the region, but its economically difficult internal situation prompted it to accept it.
    Under the Iraqi constitution, the Kurdistan Regional Government is entitled to receive part of the national budget. But that system collapsed in 2014, when the Kurds took control of the major oil fields in northern Iraq, Kirkuk, from Islamic State militants, and began selling crude from there independently.
    Observers believe that the political truce based on the personal enthusiasm of the Iraqi prime minister may postpone the differences but does not resolve them, noting that the fundamental dispute is linked to the agenda of the Kurdistan region, which is based on separation and seeks to prepare its conditions, and that its vision of managing oil revenues falls under this agenda, and that no matter what The central government made concessions without the expectations of the leaders of the region.
    Since 2003, Baghdad and Erbil have disagreed on the issue of managing the oil fields in the region, as Baghdad says that the region does not authorize the real sums for exporting oil, and does not hand over those sums to it, while Kurdistan says that exports from the oil fields in its territory must be subject to its management, both in terms of Granting licenses for new exploration, managing existing fields, controlling production and export to destinations of your choice, or contracting for purchase and development.
    This contradiction led to many disagreements, which were resolved by the Federal Court's decision, which rejected the oil and gas law in the region and considered it illegal.
    Last year, the Federal Court issued a decision stating that the oil and gas law of the Kurdistan Regional Government issued in 2007 was unconstitutional, and canceled for violating the provisions of constitutional articles, as well as obligating the region to hand over oil production to the federal government.
    Last January, tension between Baghdad and Erbil increased after the Federal Court, the highest judicial body in Iraq, ruled that it was unconstitutional for the government to send sums of money to finance the salaries of employees and workers in the public sector in the Kurdistan region.
    Massoud Barzani, in an open letter to public opinion, accused the Federal Court of carrying out suspicious agendas, calling on the constituent parties of the State Administration Coalition to state their positions regarding what he described as the court's violations against the interests of Iraq and the Kurdistan region.
    He said that whenever there was an opportunity to provide a positive atmosphere between the Kurdistan region and Baghdad, and signs of resolving problems appeared, the Federal Court immediately aborted that with a hostile decision, which complicated the problems.
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