Iraq/Kuwait: Burning Kuwaiti Oil Wells Still Drain Iraqi Budget

Aug 13, 2015 | Ismaeel Naar, Al Arabiya News
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Under a cash-strapped budget, Iraq today has to allocate its funds to a number of other obligations, including the fight against ISIS, contractual payments to oil companies, public salaries and transfers to the Kurdistan Regional Government (KRG). Under pressure to make its payments last year, Iraq requested a deferral of its final payment of $4.6 billion in reparations for destroying Kuwait’s oil facilities. Analysts say while Kuwait was reluctant over the deferral, it had no choice but to accept.