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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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    Forbes Policy: Disastrous crises in Kurdistan, the repercussions of which reach Baghdad

    Rocky
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    Forbes Policy: Disastrous crises in Kurdistan, the repercussions of which reach Baghdad Empty Forbes Policy: Disastrous crises in Kurdistan, the repercussions of which reach Baghdad

    Post by Rocky Mon 28 Aug 2023, 6:53 am

    Forbes Policy: Disastrous crises in Kurdistan, the repercussions of which reach Baghdad

    [ltr]2023.08.28 - 12:50[/ltr]


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    Baghdad - Nas  
    An analysis published by the American Foreign Policy magazine stated that the continued suspension of Iraqi oil exports through Turkey portends catastrophic crises in the Kurdistan region, reaching the point of financial and political collapse, as the repercussions affect the central government in Baghdad as well as the global oil markets that are witnessing a rise in prices, which dispels the attempts of many to combat Inflation, especially in Europe and the United States.  
      
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    According to the analysis written by a Turkish researcher and followed by "NAS" (August 28, 2023), Europe is not the only one taking the hit. A prolonged embargo, which has already cost the KRG more than $2 billion, could devastate the region's economy and potentially lead to the collapse of local government.  
      
    The analysis added: For many years, the KRG economy has been suffering from budget cuts from the Iraqi federal government. If the situation remains unresolved, it could lead to a devastating migration wave. Tens of thousands of Kurds have already immigrated to Europe, and it is possible that many more will go in the near future.  
      
    The analysis cautioned that we must be wary of the possibility that the financial repercussions, including the large budget deficit in both the Kurdistan Regional Government and Baghdad, could lead to a state of catastrophic instability in the region, which could be exploited by armed groups such as ISIS, which could lead to to further destabilization.  
      
    The analysis pointed out that although Erbil and Baghdad reached an agreement in early April, which raised hopes that Turkey would have no other excuse to avoid resuming exports after the presidential elections in May, there were no signs of tangible progress on the part of Ankara.  
      
    Regarding the repercussions, the analysis stated: The ongoing conflict may threaten the collapse of US investments in Iraq, the economic destabilization of the Iraqi federal government, and the rush of Russia and Iran to fill the geopolitical vacuum.  
      
    He stated: This impasse has led to international oil companies in Iraq reducing their investments by $400 million, laying off hundreds of workers, and threatening legal action against governments deemed responsible.  
      
    The analysis concludes that it is likely that some of the region's oil will find its way abroad through Iran, while Turkey may end up resorting to Iranian and Russian oil to meet its own demands and eventually the Kurdistan Regional Government, which depends on oil revenues to survive, may collapse. Which leads to conflict between the two main rival Kurdish factions.  
      
    Between analysis, instability in Iraqi Kurdistan may also spill over into broader Iraq, which is already teetering on the brink of sectarian conflict.  
      
    He suggests the United States push Baghdad and Erbil to reach a more comprehensive oil deal, as well as help mediate talks between Ankara and Baghdad, including on water, trade and infrastructure issues.  
      
    The analysis concluded by saying that Iraq's loss of oil export revenues through Turkey will eventually lead to the erasure of the compensation owed to Baghdad by Ankara, and therefore it is in the interest of the two countries to reach a negotiated compromise, as there is a need for an external mediator with relations with the three players to help them realize that any A scenario that increases the risk of a regional conflict is a win-win situation.  
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