Revenues from KRG oil exports will be deposited at Halkbank: deputy PM

9.1.2014 – Kurdpress – Turkey’s Deputy Prime Minister Ali Babacan said on Wednesday that the revenues from the Kurdistan Regional Government (KRG) oil export to Turkey will be deposited at the state-owned lender Halkbank, Anadolu news agency said.

Babacan said the bank will be used for payments with Iraq as was the case in gas trade with Iran. Turkey, which exports most of its energy, has major oil and natural gas deals underway with the northern Kurdish administration in a three-way partnership that also includes the central Iraqi government. Halkbank’s head Suleyman Aslan was arrested last month over corruption allegations as part of an anti-graft probe.