Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani on Sunday, February 2, welcomed the federal budget law amendment by the Iraqi parliament that will help to restart the Kurdistan Region’s oil exports following a suspension of almost two years.
“I thank everyone who supported the amendment. I also thank the KRG negotiating team for their efforts to put in place a mechanism to resolve the salary issue,” Prime Minister Barzani posted on X.
I welcome today's vote by the Council of Representatives on the federal budget law amendment.
— Masrour Barzani (@masrourbarzani) February 2, 2025
I thank everyone who supported the amendment. I also thank the KRG negotiating team for their efforts to put in place a mechanism to resolve the salary issue.
“I hope that this positive step in amending the budget law will be the beginning of resolving all other disputes and the federal government’s commitment to provide financial entitlements of the Kurdistan Region.”
On March 25, 2023, Kurdish crude oil exports through Turkiye were stopped after an international arbitration court ruled in favor of Baghdad against Ankara, halting 450,000 barrels per day of crude oil exports to international markets.
Read More: Iraqi Government Approves Kurdistan Oil Exports
In a meeting chaired by Iraqi Prime Minister Mohammed Shia’ al-Sudani in November, the Council of Ministers approved a proposal to amend the Iraqi budget law, which was welcomed by the KRG and international oil companies.
The amendment outlines that the federal Ministry of Finance will provide an advance compensation of $16 per barrel for production and transportation costs.
On January 23, KRG spokesperson Peshawa Hawramani called on the Iraqi parliament and Iraqi federal government to respect the previous decision of the federal Council of Ministers, after the Iraqi parliament unexpectedly deferred a vote on the amendment.
Today, however, a vote was held and the majority of the parliament voted in support of the proposal.
