According to the new understanding between Erbil and Baghdad, the Kurdistan Regional Government (KRG) has agreed to hand over 230,000 barrels of oil per day to the federal government.

Channel8 has learned that, based on the new understanding and the KRG Council of Ministers’ approval today, the KRG will hand over 230,000 barrels of oil daily and 120 billion dinars monthly from non-oil revenues. In return, the federal government will pay the salaries of the Kurdistan Region.

Channel8 correspondent also said the Iraqi Council of Ministers is scheduled to hold an extraordinary meeting Thursday to discuss the understanding between Erbil and Baghdad.

The KRG Council of Ministers convened, chaired by Prime Minister Masrour Barzani and attended by Deputy Prime Minister Qubad Talabani, focusing on the financial situation of the Kurdistan Region and the progress of negotiations with Baghdad regarding public sector salaries and outstanding financial rights.

They announced reaching a joint understanding with the federal government on providing monthly salaries and financial entitlements to the Kurdistan Region.

The Council of Ministers met as PUK President Bafel Jalal Talabani arrived in Baghdad and held talks with Prime Minister Mohammed Shia al-Sudani on national issues, including revenue transfers and salary payments, emphasizing coordination and adherence to constitutional and legal frameworks and the Federal Supreme Court’s ruling.