CRYPTO TRADER: Diplomatic and Technical Step to resolve protracted dispute over oil resources

 CRYPTO TRADER

#BREAKING: APIKUR says international oil companies and the Kurdistan Regional Government (KRG) have proposed a scope of work for an international consultant in line with Article 12 of Iraq’s Budget Law and existing contracts.

In a statement, it urges all parties, including the Iraqi government, to agree on terms that uphold the law and respect contracts recognized by both Baghdad and Erbil.

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📰 News Summary APiKUR (Association of the Petroleum Industry of Kurdistan) reports that international oil companies and the Kurdistan Regional Government (KRG) have proposed a scope of work for an international consultant, in line with: Article 12 of the Iraq Budget Law. Existing contracts between the parties. In its statement, APiKUR calls on all parties involved, including Baghdad (Iraqi Federal Government), to agree on conditions that: Respect the law. Recognize the current contracts, both by the Federal Government and the Regional Government.

🔍 Context Analysis 1. Political and Economic Background Iraq has a history of tensions between the central government (Baghdad) and the Kurdish regional government (Erbil), especially around the control and distribution of oil resources. Article 12 of the Iraqi Budget Law regulates the financial relationship between Baghdad and Erbil, including how revenues from oil produced in Kurdistan should be handled.

2. International Consultant Proposal The proposal to hire an international consultant seeks to create transparency, trust and an objective technical/legal basis to resolve differences. It aligns with the efforts of international companies to ensure that their contracts are respected and a stable investment environment is maintained.

3. Call for Cooperation APiKUR tries to ensure that the parties find a negotiated and legally sound solution, instead of maintaining disputes that affect production, exports and the economy of the region.

Legal and Economic Implications International oil companies want to protect their investments and contracts, avoiding legal conflicts with Baghdad. If an agreement is reached, oil exports from Kurdistan, stopped or limited by past disputes, can be reactivated. It could also improve foreign investor confidence in Iraq, which is key to its economy. 🧩 Conclusion This news reflects a diplomatic and technical step to resolve a long-running dispute over oil resources between Erbil and Baghdad. Involving an international consultant can be a strategic move to move towards a clear and widely accepted legal framework that respects both Iraqi sovereignty and trade agreements.