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The Kurdistan government is "unable" to pay huge installments to foreign companies, and Baghdad refuses to pay
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Informed sources revealed that the Kurdistan Regional Government has stopped financial premiums paid to foreign oil companies amounting to six billion dollars as a result of the suspension of the region's oil exports after the decision of the authorities in Baghdad.
Reuters news agency said, according to a report translated by (Baghdad Today), that: "The regional government owes companies, including Vitol and Petraco, $6 billion for its work in extracting and exporting oil within the region for the coming years."
And she stressed, "During the last period, the regional government paid what it owed to the companies through shipments of oil, which is no longer possible after stopping extraction and export through the region."
And Reuters continued, according to informed sources within the Erbil government, that the region "has not yet been able to find alternative means to pay the debts owed by companies," stressing that the Iraqi Kurdistan government and oil companies refused to comment on the agency's questions about Erbil's inability to pay.
For its part, the federal government confirmed to Reuters, through a source who refused to be identified, that it "refuses to pay billions of dollars in debt for financial transactions that it was not aware of," according to his description.
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