Iraqi Kurdistan suspends oil exports over payment row

PanARMENIAN.Net - An Iraqi Kurdish official says the country's self-ruled northern Kurdish region has suspended oil exports over a payment row with the central government in Baghdad, according to The Associated Press.

Ali Hussein Balo, adviser to the Kurdish Ministry of Natural Resources, said Tuesday, Dec 25, Baghdad failed to fulfill its commitment to pay the full 1 trillion Iraqi dinars (about $848 million) to companies working in the region. Balo said it only paid 650 billion Iraqi dinars (about $550 million).

In April, the Kurds stopped the exports of around 100,000 barrels a day due to delays in payments. Four months later, the exports resumed. That allowed the two sides to reach a new agreement on payment.

Baghdad says the payment suspension was because the Kurds were pumping less than the 200,000 barrels a day they pledged.