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Iraqi and Kurdish Governments Agree to Oil Deal

Iraq’s Finance Minister Hoshyar Zebari says the central government has reached an agreement in a long-standing oil dispute with the semi-autonomous Kurdish regional government. Zebari says that the Kurdish government will send a total of 550,000 barrels of oil per day to the Iraqi Oil Ministry. In exchange, the Kurds will receive their 17% share of the national budget allocated to their region, plus installments of $1 billion to boost  capabilities of Kurdish peshmerga fighters battling ISIS. Earlier this year, Baghdad cut the 17% of the state budget that is supposed to go to the Kurdish region.


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