Iraq/Kurdistan: Exclusive: Iraq's Kurdistan Negotiates New Terms, Raises Oil Pre-Payments to $3 Billion

Feb 28, 2017 | Dmitry Zhdannikov, Reuters
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Iraq's Kurdistan has increased the loans guaranteed by future oil sales to $3 billion in new deals with trading houses and Russian state oil firm Rosneft aimed at strengthening its fiscal position as the semi-autonomous region fights Islamic State. Kurdistan's natural sources minister Ashti Hawrami told Reuters new debt talks concluded in recent weeks gave the region grace periods of between 3 and 5 years for repaying the debt.