Baghdad may Cut Kurdistan Budget over Oil Dispute

By John Lee.

Iraq's central government is considering trimming federal budget payments to the country's Kurdistan by more than $3 billion to cover losses it says came from the autonomous region's oil exports, reports Reuters.

Ali al-Moussawi, advisor to Prime Minister Nuri al-Maliki, said a committee found losses of more than $3 billion resulting from Kurdistan's failure to pump the amount of oil agreed in the budget, and from its recent halting of oil exports.

"In today's cabinet meeting we gave a delegation from the Kurdistan regional government a week to come to Baghdad to discuss this or we will move ahead and deduct this amount from their budget share," he said.

Iraqi Kurdistan has said it will continue pumping oil for export until 15th September, extending its deadline for the central government to make disputed payments to companies working in the region.

(Source: Reuters)

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