Oil and gas law will pass soon; Iraq got the green light to reduce the compensation of Kuwait

Deputy Prime Minister revealed for Economic Affairs Rose Nuri Shaways closely to reach a common formula will lead to the adoption of the law of oil and gas in the coming days after the agreement between the Kurdistan region and the central government recently.

Shaways predicted that “This law eliminates More than half of the outstanding problems between the region and the Centre on export and contracting operations. “

Shaways said “this law, if approved, would be in the interests of the Iraqi people, and will be in line with the constitution, which stressed the need to exploit all the ways scientific to increase production to bring the greatest benefit to the

people. ” Shaways described the form of relations between the Kurdistan region and central government Bamutaina.

Shaways confirmed the existence of common factors that led to the settlement of all disputes between the province and the center, stands in the forefront convinced both sides to strengthen Iraq’s imports Finance through increasing the volume of export of oil, both of the center and south, or from the region, in reference to the crisis, the export of oil from Kurdistan on its way to a settlement.

and money on Iraq, Shaways hinted that this money legally , properly covered, which makes them immune from prosecution creditors, especially after the agreements made in this regard with the Development Fund for Iraq, which save, and UN resolution, all the oil sales revenues, which is renewed annually protection, is It will end next year, which called for the formation of a committee “to protect Iraq’s money,” which in turn worked on a timetable for the transfer of these funds to the account of the Central Bank of the U.S., and worked to find a new formula to protect the money from creditors “.

described Shaways creditors as the three forms, the first creditors are right, where it was fully settled, the second debt is right, still an ongoing follow-up process, and the third type is the compensation claims foreign nationals. ” He said, “The third type has also settled fully in cooperation with the U.S. government and with the agreement of the Iraqi parliament paid compensation Bmekdra $ 400 million. revealed Shaways for Iraq to get a green light from the United Nations to reduce compensation Kuwait from five percent to 2 percent or 3 percent, and this is important, but will prolong the repayment period, which stressed that it is about to end soon.