ERBIL, Kurdistan Region of Iraq - Deputy Speaker of the Iraqi Parliament Muhsin al-Mandalawi on Saturday described the deal reached to resume the Kurdistan Region's oil exports as a “guarantee of Iraq’s financial rights” that will increase state revenues, attract investment, and create a climate of stability.

Following months of negotiations, the first shipment of the Kurdistan Region’s oil left for international markets early Saturday morning, over two years after they were halted in March 2023, when a Paris-based arbitration court ruled that Ankara had breached a 1973 pipeline agreement by allowing Erbil to start selling oil independently in 2014.

A milestone tripartite agreement was reached on Thursday whereby the Kurdistan Region will deliver “all crude oil” produced from its fields to Iraq’s State Organization for Marketing of Oil (SOMO) to be exported through the pipeline, apart from quantities allocated for domestic use. The halt came at a cost of some $30 billion in revenue for Erbil and Baghdad.

Mandalawi said the agreement came after months of dialogue and reflects parliament’s determination to support fair distribution of wealth and to enforce the provisions of the three-year federal budget law.

“This is a national achievement,” Mandalawi said. “It will not only secure Iraq’s financial rights but will also promote equitable wealth sharing among all citizens, encourage economic growth, and improve public services.”

Mandalawi said the deal strengthens cooperation between the federal government and the Kurdistan Region, builds mutual trust, and lays the foundation for long-term stability in managing Iraq’s energy resources. He credited the Iraqi parliament with playing a central role in reaching this outcome and said lawmakers will continue to support such measures.

Mandalawi stressed that the success of the deal reflects the government’s broader vision of cooperation and partnership between Iraq’s federal and regional institutions, adding that the Iraqi legislature will continue to provide support to reinforce this partnership and to ensure that the agreement leads to concrete improvements in the lives of ordinary citizens.