Iraqi President ratifies Budget Law amendment on Kurdistan oil exports
Shafaq News/ Iraqi President Abdul Latif Jamal Rashid ratified the first amendment to the Federal Budget Law mandating the export of oil from the Kurdistan Region through the State Oil Marketing Organization (SOMO), a senior Kurdish official revealed on Sunday.
Amanj Rahim, Secretary of Kurdistan’s Council of Ministers, stated on Facebook, “The amendment to Budget Law No. 13 of 2023 stipulates that proceeds from Kurdish oil sales will be deposited into the Federal Treasury after deducting production and transportation costs.”
“The ratified amendment will come into legal force once published in the Iraqi Official Gazette,” Rahim explained, adding that this final step is pending.
Earlier this month, the Iraqi Parliament passed the first amendment to the Federal Budget Law for 2023-2025, despite a boycott by around 50 lawmakers representing central and southern provinces, and legal disputes over the session’s legitimacy.
