The Kurdistan Regional Government (KRG) Council of Ministers welcomed the tripartite agreement on Kurdistan Region oil exports, stating that the government is ready to continue to implement its obligations.

Following the meeting of the Council of Ministers today, which was dedicated to discussing the recent oil agreement with Baghdad and companies and the issue of non-oil revenues, KRG said, "After long discussions and negotiations, the agreement was drafted, and yesterday, in an official letter from the Ministry of Natural Resources, the tripartite agreement signed by the Minister of Natural Resources and all oil companies except DNO was sent to the federal government."

KRG noted that after sending the agreement to the federal government, there are no obstacles to the export of all oil produced in the Kurdistan Region.

KRG 'Has Made All Preparations'

The Council of Ministers stated that the tripartite oil agreement is expected to be signed by the Iraqi Oil Ministry in the next couple of days and reassured all parties that the KRG “has made all preparations for the implementation of the agreement.”

The Council affirmed that after the agreement, there should be stability in disbursing financial entitlements of the Kurdistan Region public sector, and the salaried employees of the region should no longer be deprived of receiving their salaries on time, equal to the employees of other parts of Iraq.

The Iraqi Council of Ministers yesterday decided to disburse the July salaries.

120 Billion Dinars to be Allocated to Federal Government

In its second item, the cabinet reviewed the issue related to non-oil revenues and instructed the Minister of Finance and Economy to, as soon as possible, allocate the amount of 120 billion dinars as the federal treasury share for July 2025 to the account of the Federal Ministry of Finance. 

'Exports to Resume Within the Next 48 hours'

Earlier, KRG Spokesman Peshawa Hawramani said that the government has formally written to SOMO to begin receiving oil, with deliveries expected through Peshkhabur.

"We expect exports to resume within the next 48 hours," he remarked.

Government Announces the Date of Oil Exports

Meanwhile, SOMO confirmed that the oil agreement has reached its final stage and is nearing signing to resume exports from the Kurdistan Region. "The government will soon announce the date for the resumption of oil exports." SOMO highlighted