LONDON (Reuters) - Iraq will take action, including fiscal measures, if the Kurdistan Regional Government (KRG) exports oil before an agreement is reached with Baghdad, Deputy Prime Minister for Energy Hussain al-Shahristani said at a conference in London on Tuesday.

Shahristani reiterated that only Iraqi state marketer SOMO is authorized to export the country's oil.

"Any oil that leaves Iraq without the permission of SOMO is illegal and Iraq will have to take action to protect its oil wealth," Shahristani said.

"We have informed Turkey and the KRG that we cannot allow this to continue...We are waiting for a response to our latest proposal."

(Reporting by Julia Payne and Lin Noueihed; editing by Jason Neely)