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(The Associated Press) - BAGHDAD: Iraqi officials said Friday that a U.S. backed draft oil law soon will be returned to the Cabinet for approval after Kurdish leaders agreed to a compromise revenue sharing measure, although many key sticking points are unresolved and not addressed in a much-watered down piece of legislation. The bill called for two accounts to be established, one in which revenues from oil exports would be deposited and another consisting of customs and taxes. The central government in Baghdad would take from the accounts what its needs to cover the national budget while the rest would be distributed among Iraqi governates and regions, according to the draft, which was posted on the Kurdish government's Web site. Link |
