Iraq Moves to Take Control of Kurdistan's Finances

Politics, Geopolitics & Conflict The Federal Supreme Court in Baghdad has ordered the Kurdistan Regional Government (KRG) to relinquish all oil and non-oil revenue to the Iraqi Federal government, amid the ongoing dispute between Baghdad and Erbil over the latter’s unilateral oil operations and separate contracts with foreign oil companies. Baghdad has invalidated oil company contracts with the KRG and is not honoring them in the “transfer” to federal hands. In other words, Baghdad is trying to renegotiate these contracts…