What IQD Investors Should Know About Iraq’s Supreme Court Ruling

As we learned in our last video Iraq’s Supreme Court’s Decision regarding the unconstitutionality of the oil and gas law in the government of Başûr (Southern Kurdistan) sparked widespread controversy in Iraqi circles, and observers believe the decision came after the KDP candidate was excluded from the presidential race.

The article, “Escalation between Erbil and Baghdad… an economic dispute with political imprints” goes on to tell us the regional government is obligated to hand over the entire oil production from the oil fields in the Kurdistan region and other areas to the Central Baghdad government

The Ministry of Oil of the Central Baghdad government has the right to follow up on the invalidity of the oil contracts concluded by the Kurdistan Regional Government with external parties, countries and companies regarding oil exploration, extraction, export and sale.

Of course, the Kurdistan Region vows to fight the ruling.

The dispute over the oil between Baghdad and Erbil dates back to 2007, when the government of Başûr, which is dominated by the Kurdistan Democratic Party, began developing oil fields in three areas. Baghdad did not approve and opposed the move.