KRG rejects rumors of Turkey confiscating Kurdistan’s oil revenue

ERBIL, Kurdistan Region (Kurdistan24) – After local news outlets reported that Turkey had seized oil revenues from the Kurdistan Region, a Kurdish official spoke out against the rumors on Monday.

Reports published earlier this week stated Turkey had confiscated oil revenues from the Kurdistan Regional Government (KRG) and prevented the funds from being transferred to the Kurdistan Region for "political reasons."

In a statement, spokesperson for the KRG Safeen Dizayee denied the rumors, affirming the claims were
"fake" and "baseless."

“Due to technical issues between the banks, the money transfer was delayed. Eventually, the issue was resolved,” Dizayee continued. “Now, oil revenue transfers between the two banks will be completed without any problems.”

The KRG exports an average of 600,000 oil barrels per day to the international oil markets through the Ceyhan port in Turkey. Oil revenues make up over 90% of the Kurdistan Region's total income.

In the past month, Turkish officials have repeatedly warned the KRG leadership not to proceed with its independence referendum scheduled for Sep. 25, 2017, labeling the move a “grave mistake.”

In spite of concerns from various countries on the Kurdish vote, senior Kurdish officials have highlighted that there is "no turning back" on holding the referendum, stating the people of the Kurdistan Region have the right to decide on their future.

Editing by G.H. Renaud