8 Apr. (EUROPE PRESS) –
US National Security Adviser Jake Sullivan has welcomed the agreement reached between Iraq’s central government and Iraqi Kurdistan authorities to resume oil exports from the semi-autonomous region.
The agreement, according to a White House statement signed by Sullivan, will further strengthen Iraq’s sovereignty, independence and economic prosperity.”
“The United States is proud to support this and other regional projects and diplomatic initiatives to move toward a more stable, interconnected, and prosperous Middle East region, which generally benefits the United States and its citizens as well,” he detailed.
The agreement thus unblocks oil exports to Turkey after a recent ruling by a Paris arbitration court in favor of Baghdad on crude transit rights. The International Chamber of Commerce found that Ankara had improperly taken advantage of an Iraqi pipeline by importing oil from Kurdistan, prompting an immediate suspension of transit until a new understanding was reached.
The suspension of exports endangered the production of about 450,000 barrels of oil per day, while contributing to a 5.7 percent increase in oil prices on international markets.
