Turkey provides Iraq's KRG $200m after oil pipeline halt

Turkey provides Iraq's KRG $200m after oil pipeline halt

'An emergency aid transfer has been sent to Kurdistan Regional Government this week...the halt has deprived the KRG of an important source of revenue,' a source reported

Iraq's Kurdistan has received $200 million from Turkey to help Kurdish finances, which have been hit by a recent oil pipeline export stoppage, two industry sources said on Friday.

"An emergency aid transfer has been sent to KRG (Kurdistan Regional Government) this week. The pipeline was pumping 600,000 barrels per day and the halt has deprived the KRG of an important source of revenue," one of the sources said.

Iraq’s Kurdish region resumed pumping oil to Turkey on Friday, more than three weeks after the pipeline was closed due to Turkish military operations, senior oil company officials said.

Oil is the main source of Kurdistan’s revenues and the suspension further squeezed the already cash-strapped region’s finances.