Report: Israel Importing Oil from Kurds

Israel has imported as much as three-quarters of its oil from Iraq’s semi-autonomous Kurdish north in recent months, The Financial Times reported on Sunday. The move provides a vital source of funds to the cash-strapped region as it fights Islamic State (ISIS) jihadists, according to the report. The imports highlight the significant inroads that oil from Iraqi Kurdistan is making into world markets, with Italy, France and Greece also emerging as big buyers, the newspaper noted. It is a trade conducted through secretive pre-pay deals brokered by some of the world’s largest oil trading companies, including Vitol and Trafigura.

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