KURDISTAN REGIONAL GOVERNMENTS’ (KRG) ECONOMIC RELATIONS WITH RUSSIA IN CONTEXT OF DEVELOPING MUTUAL HYDROCARBONS INDUSTRY

The first objective of that paper is to look into economic and political situation of Iraqi Kurdistan in context of its oil industry relations with Russia. In the Kurdistan Region of Iraq (KRI), economic development and infrastructure recovery extended at a great pace over the last decade. In order to achieve the aim, author firstly adequate explained to research below a brief history of the Kurdistan and political relations with the sample country. Next, it presents underlying economic relations of (KRG) with Russia in recent years in the oil field. In this article, the author argue that ensuring the cooperation and good political relations between Kurdistan and Russia will guarantee: (a) changes in power relations of the Kurdistan Region with Iraqi government and own achievements in self-governance, (b) solve the problem of difficult circumstances accompanying the region’s oil export and as a result making economic and national security of Kurdistan, (c) benefits and long contracts of the two parties will help to solve political crisis of the Region with other neighbor countries especially Russian factor to solve unexpected tensions between Kurdistan and Turkey, Iran regarding Kurdistan’s independence, (d) after American sanctions on Iran especially in the sector of oil and gas, Russia can fill this gap with investment in Kurdistan oil and gas sector to increase the mutual hydrocarbons industry development.