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situation report

Nov 14, 2017 | 22:19 GMT

1 min read

Russia, Iraq: Rosneft Pays Kurdistan $1.3 Billion Advance

Russian state oil company Rosneft has paid the Kurdistan Regional Government (KRG) a $1.3 billion advance for a production sharing deal, The Daily Star reported Nov. 14. On Oct. 19, Rosneft signed a contract to work on five oil production blocks in Iraqi Kurdistan. The Iraqi oil ministry criticized the deal, saying that only it or the Iraqi federal government can negotiate such agreements. Relations between Iraq and the KRG have been fraught since the Sept. 25 independence referendum

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