(MENAFN) In a significant development, Iraq's autonomous Kurdistan region has announced that it will resume its oil exports through Turkey on Monday, however, with a key caveat - they will now be supervised by the federal government in Baghdad. This decision comes after a series of talks between officials from both sides, and is seen as marking a clear limit to the autonomy of the Kurdish regional government. The announcement follows a recent ruling by an international tribunal that Baghdad should oversee all Iraqi oil exports, which led Ankara to cease handling Iraqi Kurdish oil last month.
According to a federal government official, "Sales of Kurdistan crude will be managed from now on by the State Oil Marketing Organization" - a clear indication that the federal government in Baghdad will have greater control over the region's oil exports. Meanwhile, a "joint committee" comprising officials from both the federal and regional governments will supervise the export process. This development has significant implications for the Kurdish regional government, as it marks the end of independent oil exports and signals a shift towards greater control by the federal government.
Furthermore, revenues from the oil exports will now be paid into an account "overseen by Baghdad", according to a Kurdish official. This suggests that the federal government will exercise greater oversight over the region's finances, another step towards limiting the autonomy of the Kurdish regional government. It remains to be seen how this decision will be received by the Kurdish population in the region, who have long sought greater autonomy and control over their resources. Nevertheless, this development is likely to have far-reaching consequences for Iraq's oil industry and its political landscape.
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