Iraq’s oil ministry has announced the resumption of oil exports from northern Iraq’s semi-autonomous northern Kurdish region

U.S. President Donald Trump's administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters.

The Iraqi Oil Ministry announced the completion of all procedures required to resume oil exports from Iraqi Kurdistan.

Oil exports from the semi-autonomous Kurdistan region will resume next week, Iraq's oil minister said on Monday, resolving a near two-year dispute as ties between Baghdad and Erbil improve, potentially adding more supply to the oil market and weighing on prices.

The president of Iraq’s semi-autonomous Kurdistan region signaled the likely resumption of oil exports next month, the latest optimism that an almost two-year shutdown that cost the nation some $19 billion in lost revenue could soon be over.

A speedy resumption of exports from Iraq's semi-autonomous Kurdistan region would help to offset a potential fall in Iranian oil exports, which Washington has pledged to cut to zero as part of Trump's "maximum pressure" campaign against Tehran.

Iraq's oil ministry declared on Saturday that the procedures had been completed to allow the resumption of oil exports from the Kurdish

Iraq’s oil ministry repeated that it’s ready to restart exports from the semi-autonomous region of Kurdistan via a pipeline to Turkey that’s been shut for almost two years.