PM’s advisor: Kurdistan Region’s oil revenue to be supervised by federal govt


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SULAIMANI — The advisor to Iraqi Prime Minister Mohammed Shia al-Sudani said the Kurdistan Region’s oil revenue will be supervised by the federal government for the first time in 20 years.

Hisham al-Rikabi, Sudani’s advisor, said the Kurdistan Regional Government’s (KRG) oil revenue will be deposited in a bank account supervised by the federal government as part of an agreement between Erbil and Baghdad.

He said the agreement was made after both Erbil and Baghdad insisted on normalizing relations and for the Kurdistan Region’s share of the budget to be sent to the KRG.

Rikabi stated this will be the first time the federal government has supervised the revenue since 2003.

Sudani arrived in Erbil on Tuesday where he met with KRG PM Masrour Barzani.

Following their meeting, political analyst Jumaa al-Atwan said the KRG and the federal government agreed on the budget bill on the condition the KRG deposits all oil income in a bank account supervised by the Iraqi Finance Ministry.

(NRT Digital Media)