Shafaq News / The Iraqi Parliamentary Finance Committee has assessed the financial impact of the two-year suspension of oil exports from the Kurdistan Region, estimating losses to the state treasury at approximately 13 trillion Iraqi dinars (around $10 billion).
Deputy Chair of the committee, Ikhlas Al-Dulaimi, told Shafaq News that Parliament will resume oil exports from the region via the Turkish Ceyhan pipeline following the approval of an amendment to Article 12 of the Federal Budget Law. Turkiye had halted the flow of oil in compliance with an international arbitration ruling that mandated compensation to Baghdad for damages.
Al-Dulaimi stressed the importance of the federal government honoring its commitment to paying salaries to employees in the Kurdistan Region.
Experts estimate that since March 2023, the suspension of Kurdistan’s oil exports has cost Iraq over $15 billion (approximately 20 trillion Iraqi dinars) in revenue losses. To compensate, the Ministry of Oil has redirected 400,000 barrels per day from the southern governorates to maintain the country’s export ceiling within OPEC limits.
