Kurdish oil is sitting off the Texas coast - U.S. judge just ordered it its seizure

Turkic Brat · Jul 30, 2014

Again, this is a real disappointment for Barzani attempted to bypass Baghdad

Turkey must still weighcontroversy of releasing any funds from those oil sales to the Kurdistan Regional Government. Without an understanding between Arbil and Baghdad government, Iran appears prepared to inflict substantial economic pain on Iraqi Kurdistan by closing its border should Arbil continue to bypass the central government....

A Kurdish negotiation with Baghdad over energy is inevitable.

The Kurdistan Regional Government's efforts to export its own oil, against the wishes of the Iraqi and U.S. governments, saw a significant achievement last week: Reuters reported Thursday that a tanker carrying more than $100 million of crude oil was headed for Galveston, Texas. But just days later, on Monday night, a U.S. judge sided with an Iraqi Oil Ministry complaint that the KRG had "misappropriated" the one million barrels, and she ordered their seizure.Prior to the court order, an Obama administration official had finessed the embarrassing predicament, clarifying that the government had never banned private companies from purchasing Kurdish oil. But the United States' attempts to stem the autonomous flow of Kurdish oil have been well documented, in keeping with their goal of a unified Iraq. In fact, the administration's opposition to Kurdistans oil sales will push the Kurds toward an independence bid. To understand why, we must look back several weeks.

When a private company in Israel purchased Kurdish oil in late June, many believed it was only a matter of time before the greater market for Kurdish oil broke open. Kurdish officials spoke with confidence about the impending sale of other shipments, and discussed the process for obtaining and disbursing the funds deposited in Turkeys state-owned Halkbank, an account established with the express purpose of granting the KRGand not Baghdadauthority over its own oil revenues.

Yet, by mid-July, RudawKurdistans largest media outletreported that Turkey had backtracked, insisting on a deal between Erbil and Baghdad over revenue-sharing before Halkbank would release the money. With major financial disputes over budget allocations, provision of services regionally and nationally, and reparations for Saddam-era crimes, the chasm between the respective positions has never been wider. A deal in the near term is nearly unthinkable.

FULL REPORT http://www.newrepublic.com/article/...eized-texas-pushing-iraqi-region-independence
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Margot2 · Jul 30, 2014

Turkic Brat said: ↑

Again, this is a real disappointment for Barzani attempted to bypass Baghdad

Turkey must still weighcontroversy of releasing any funds from those oil sales to the Kurdistan Regional Government. Without an understanding between Arbil and Baghdad government, Iran appears prepared to inflict substantial economic pain on Iraqi Kurdistan by closing its border should Arbil continue to bypass the central government....

A Kurdish negotiation with Baghdad over energy is inevitable.
Click to expand...

Revenue sharing would be spelled out in the oil concessions and agreements with the participating oil companies in Iraq.

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Kurdish oil is sitting off the Texas coast - U.S. judge just ordered it its seizure

Turkic Brat Well-Known Member

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Kurdish oil is sitting off the Texas coast - U.S. judge just ordered it its seizure

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