Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
The KRG is threatening legal action against buyers of Iraqi oil to secure its “constitutional right” to 17% of federal oil revenues. The response to Baghdad’s efforts to block KRG oil sales comes as political ties between the two sides snap.
The KRG, in a statement posted on its official website, says under Article 112 of the Iraqi constitution, the federal government is legally required to distribute oil and gas revenues from present fields “in a fair manner in proportion to the population distribution in all parts of the country.” Since Baghdad has failed to comply with its constitutional duties to the KRG, Erbil has the right to take to take such action as it considers appropriate to obtain these entitlements, it says. (CONTINUED - 1528 WORDS)