Kurdistan receives May budget payment
Baghdad and Erbil continue implementing their oil export and revenue sharing agreement, despite falling short of each other's expectations.
Loading arms at the terminal for Iraqi crude exports at the Turkish port of Ceyhan. (STAFF/Iraq Oil Report)
ERBIL - The Kurdistan Regional Government (KRG) has received 508.8 billion Iraqi dinars ($424 million*) from Iraq’s federal government for the month of May, as the two sides struggle to sustain a fraught oil export and revenue sharing agreement.
"This shows that the deal is holding," said Iraqi Finance Minister Hoshyar Zebari, a Kurd, who has functioned as a key mediator between Baghdad and Erbil.
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