"Just yesterday he [Iraqi Prime Minister Haider Abadi] announced a significant agreement on the oil revenues… that has been a long-sought goal and it's a very significant achievement among many," Kerry said, calling the agreement "breakthrough", at the ministerial-level meeting of the coalition to counter Islamic State in Brussels, as published on the Department of State website.
On December 2, the Iraqi government and Kurdistan in northern Iraq agreed on the daily export of 250,000 barrels of oil from the region and 300,000 from Kirkuk. The deal will also see 17 percent of Iraq's national budget being transferred to the autonomous region annually.
The agreement, which will take effect early in 2015, may become an important step in relations between the government of Iraq and the Kurdistan region.
