Türkiye ordered to pay Iraq $1.4 billion for oil export from Kurdistan
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Güneşli
13 oC
Güneşli
The international arbitration court ordered Türkiye to pay Iraq $1.4 billion for oil exports from Iraqi Kurdistan without permission from Baghdad.
The International Court of Arbitration in Paris ruled in favor of Iraq in the Kurdistan oil dispute with Türkiye, which stopped oil shipments on Saturday.
The Iraqi oil ministry welcomed the favorable ruling from the International Court of Arbitration which had been issued on Thursday.
Since early 2014, TYürkiye has allowed the Kurdish government to export oil independently of the federal Oil Ministry in order to replace withheld Iraqi budget transfers.
In May 2014, the dispute spurred Iraq’s State Oil Marketing Organization to file an ICC arbitration claim on behalf of the Oil Ministry. (ILKHA)
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