KRG after US backing: Resuming oil exports benefits all of Iraq
Shafaq News/ On Wednesday, the Kurdistan Regional Government (KRG) called for the resumption of oil exports following a senior delegation's visit to Washington, where US officials expressed support for the Region's federal role in Iraq, according to a statement.
During a cabinet session led by Prime Minister Masrour Barzani, ministers reviewed discussions held with members of Congress and Trump administration officials. The United States, the government noted, reaffirmed its recognition of the KRG as a key partner in the Iraqi federation.
Secretary of State Marco Rubio reportedly conveyed Washington's commitment to backing the Region's institutional and financial entitlements, acknowledging the KRG's role in sheltering displaced populations and protecting community diversity.
Cabinet members provided reports on their respective meetings, with the council welcoming the US position and highlighting the importance of sustained engagement.
The KRG emphasized its readiness to continue negotiations with Baghdad to resolve pending disputes within the constitutional framework—particularly the resumption of oil exports via Iraq's national marketing company, SOMO.
The suspension, in place since March 2023 due to legal and fiscal disagreements, has led to significant revenue losses.
Officials maintained that resuming shipments would reinforce federal income, support energy sector development, and uphold equitable revenue sharing as outlined in Iraq's constitution.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
an hour ago
- Shafaq News
Iraq enforces unified customs tariff at all border crossings, including Kurdistan
Shafaq News/ Iraq's Ministry of Finance, through the General Commission of Customs, has begun implementing a new, unified customs tariff across all border crossings and customs centers, including those in the Kurdistan Region. The Commission stated that the revised valuation system is based on Cabinet Resolution No. 270 of 2023 and recommendations from the Economic Ministerial Council. The update is designed to standardize procedures and curb manipulation in customs valuations—particularly for imported vehicles and goods entering through northern borders. "We provided the Ministry of Trade with a digital copy of the reference pricing lists to help synchronize implementation across all entry points." Implementation will follow jointly approved price lists agreed with the Kurdistan Region on December 19, 2023, using reference tables from 2022 and 2024. In cases of discrepancy between invoice values and average international prices listed in the ASYCUDA system, the higher value will be applied. A source from the Northern Customs Directorate told Shafaq News that the tariff took effect on Monday, June 2, 2025. Customs checkpoints in Kirkuk, particularly at Jemen and Darman, have tightened inspection protocols in line with the new regulations. The recent visit of Border Crossings Authority Director Omar al-Waeli to these checkpoints was aimed at reinforcing compliance with the updated system. Economic analyst Abdullah Hussein described the unification of tariffs between the federal government and the Kurdistan Region as a significant reform. He noted that previous inconsistencies in valuation created vulnerabilities in the national economy, and that the new approach is expected to close gaps and ensure fairer trade practices.
Shafaq News
an hour ago
- Shafaq News
Iraqi PM discusses strategic ties with new US Chargé d'Affaires
Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani received US Chargé d'Affaires Steven Fagin on Sunday to mark the start of his diplomatic mission in Baghdad. According to a statement, al-Sudani underscored the importance of enhancing cooperation between Iraq and the United States based on the Strategic Framework Agreement, memoranda of understanding, and ongoing coordination across multiple sectors—particularly the economy, investment, security, energy, education, and private sector development. Fagin, for his part, reaffirmed Washington's commitment to its partnership with Baghdad, praising the Iraqi government's efforts to drive development and reconstruction. He also emphasized US support for increased American investment and the entry of US companies into the Iraqi market.
Iraqi News
3 hours ago
- Iraqi News
China 'firmly rejects' US claims it violated Geneva tariffs deal
INA- sources China said Monday it "firmly rejects" US claims that it had violated a sweeping tariffs deal, as tensions between the two economic superpowers showed signs of ratcheting back up. Beijing and Washington last month agreed to slash staggeringly high tariffs on each other for 90 days after talks between top officials in Geneva. But top Washington officials last week accused China of violating the deal, with Commerce Secretary Howard Lutnick saying Beijing was "slow-rolling" the agreement in comments to "Fox News Sunday". China hit back Monday, saying Washington "has made bogus charges and unreasonably accused China of violating the consensus, which is seriously contrary to the facts". "China firmly rejects these unreasonable accusations," its commerce ministry said in a statement. US President Donald Trump said last week that China had "totally violated" the deal, without providing details. Beijing's commerce ministry said it "has been firm in safeguarding its rights and interests, and sincere in implementing the consensus". It fired back that Washington "has successively introduced a number of discriminatory restrictive measures against China" since the Geneva talks. The ministry cited export controls on artificial intelligence chips, curbs on the sale of chip design software and the revocation of Chinese student visas in the United States. "We urge the US to meet China halfway, immediately correct its wrongful actions, and jointly uphold the consensus from the Geneva trade talks," the ministry said. If not, "China will continue to resolutely take strong measures to uphold its legitimate rights and interests," it added. Trump-Xi talks? US officials have said they are frustrated by what they see as Chinese foot-dragging on approving export licences for rare earths and other elements needed to make cars and chips. But Washington's Treasury Secretary Scott Bessent looked to ease the pressure on Sunday, saying the two sides could arrange a call between their respective heads of state to resolve their differences. "I'm confident... this will be ironed out" in a call between Trump and Chinese President Xi Jinping, Bessent said on CBS's "Face the Nation". He added, however, that China was "withholding some of the products that they agreed to release", including rare earths. On when a Trump-Xi call could take place, Bessent said: "I believe we will see something very soon." China has been less forthcoming, and the commerce ministry's statement on Monday did not mention any planned conversations between the two leaders. The Geneva deal was "an important consensus reached by the two sides on the principle of mutual respect and equality, and its results were hard-won", the ministry said. It warned Washington against "going its own way and continuing to harm China's interests". Global stocks finished mixed on Friday after Trump made his social media post accusing Beijing. The Hong Kong stock exchange was down around 2 percent shortly after opening on Monday.
