The Kurdistan Region's Ministry of Finance sent 120 billion dinars in oil revenue to Baghdad for the month of May, a source from the Ministry told Rudaw this morning. This action fulfills a financial obligation from the Kurdistan Regional Government (KRG) to the Iraqi federal government. This transfer, specified as oil revenue, follows ongoing discussions and agreements between Erbil and Baghdad regarding financial entitlements and oil exports. The exact mechanism of the transfer and its reception in Baghdad have not yet been detailed by federal Iraqi officials. Previous reports indicated that the KRG had been working towards fulfilling its financial commitments to Baghdad, particularly concerning oil revenues. The remittance of these funds is a step towards resolving the long-standing fiscal disputes between the two entities. Further details concerning future transfers or the broader financial agreement between the Kurdistan Region and the Iraqi federal government are anticipated as negotiations continue. The Kurdistan Region has historically sought greater financial autonomy while Baghdad asserts its control over national oil revenues.
