DINAR IRAQ & DONG VIETNAM UPDATE, 4 JULY

 Former parliament decision: Passing the oil law is enough to end all the problems of Iraq

7-3-2023

Former parliament decision - Passing the oil law is enough to end all the problems of IraqInformation / Baghdad…

Former Parliamentary Rapporteur Muhammad al-Khalidi confirmed, on Sunday, that Iraq’s most complex crises would end immediately after the adoption of the oil and gas law.

Al-Khalidi said in an interview with Al-Maalouma, “The oil and gas law is one of the pending legislations since 4 parliamentary sessions due to political differences, and if it is approved, most of the complex problems will end.”

He added, “Five important points must be available to proceed with approving the law, the most prominent of which is political consensus, defining export and management mechanisms, the quantities produced from each field, and the powers and quotas of the provinces.”

Al-Khalidi pointed out that “approving the law according to a consensual formula will be in the interest of everyone without exception and end the dispute between the center and the Kurdistan region.”

He continued, “Iraq’s dependence on what is known as the rentier economy is a dangerous step in light of the rapid changes in the energy sector, indicating the emergence of solutions regarding the energy file that may push oil prices down at record rates, which constitutes a source of embarrassment for the country’s budget, which relies 90% on revenues from the sale of oil.”

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