Creating new perspectives since 2009

Russian-Kurdish oil deal fuels wave of anger

June 9, 2017 at 1:22 pm

Rosneft oil plant [Lite/Wikipedia]

The signing of a new oil deal between the Kurdish region in Iraq and Russia’s oil company, Rosneft, has provoked widespread anger and rejection from the Kurdish political forces, as well as theShia parties in the federal government.

The Kurdish government made several oil deals on Saturday with Rosneft in the presence of Kurdish Prime Minister, Nechervan Barzani, in Moscow. This deal lasts for 20 years and applies to the fields of excavation, logistic services and infrastructure development.

The value of these agreements has yet to be revealed.

Read: Iraq rejects Kurdish calls for referendum

Rosneft’s CEO, Igor Sechin, said in a statement issued after signing the deals that the agreements “set an example of well-weighed investments in one of the key Middle East regions.”

On Monday, a number of parliamentary blocs announced their rejection of the oil agreement, warning that it would lead to dangerous and serious economic and political consequences.

The Movement for Change, Kurdistan Islamic Union and Kurdistan Islamic Group issued a joint statement condemning the agreement, adding that the oil is being sold for very low prices. They said this move is “only serving the interests of a political group trading the country and its wealth,” without naming the group.