Kurdishglobe

Kurdistan region’s oil exports: Key to stability

By |  Dr. Nazaket Hussen

 

For many years, crises have been brewing in the Kurdistan Region. The worst of these was the economic crisis caused by the 2014 budget cuts, which led to significant chaos. These cuts left lasting social, political, economic, health, psychological, and educational impacts that, in the distant future, will not easily be erased.

The suspension of oil exports in the Kurdistan Region a few years ago exacerbated the crisis. Not only was the region unable to afford salaries and meet financial needs, but it also faced many challenges created by Baghdad regarding the provision of salaries for the citizens of the Kurdistan Region.

In addition, the total economic damage to Iraq’s revenues from the suspension of the Kurdistan Region’s oil exports has been substantial. Currently, there is a political crisis in the Kurdistan Region.

The level of diplomatic, economic, and political relations between the region and Baghdad has improved, with better understandings than before. There is now a continuous movement of officials, committees, and administrative units.

The economic and political situation between the region and Baghdad is better than ever. Restarting the region’s oil exports will strengthen these developing relations and provide a solid foundation for political and economic stability.

It will serve as a strong foundation for political and economic stability, contributing to the development of the country’s economic infrastructure and all sectors, while eliminating obstacles and complexities. This will foster better communication between the region and Baghdad, especially in matters concerning salaries and the budget.

However, it may also mark the beginning of further tensions. What we are witnessing now are multilateral efforts and steps aimed at creating stability and reconciliation in the Middle East region, particularly among conflicting parties. The region’s oil exports will be a key factor in promoting this stability, as economic growth is the foundation for many other developments. Most of the obstacles facing the region and Baghdad revolve around the issue of halting oil exports, as well as the budget and salaries.

It is essential that the countries influencing Iraq, who are aware of the political and economic situation, offer their support and cooperate to ensure that this suspension does not continue. This will prevent the citizens of the Kurdistan Region from losing hope for a brighter future.

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