PM:05:36:26/03/2023
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SULAIMANI — Turkey is expected to pay $1.4bn to Iraq after
losing the Kurdistan oil dispute case at an international arbitration court,
Middle East Eye said on Sunday (March 26).
A source told Middle East Eye (MEE) that Iraq has demanded
$33bn from Turkey over the lawsuit but Turkey did not pay the
amount and now Iraq expects Turkey to pay $1.4bn to cover
the 2014-2018 period.
MEE reported Turkey accepts the ruling now that the penalty
has been significantly reduced to $1.4bn.
Discussions are ongoing between Iraqi and Turkish officials
and will continue next, the source said.
The case that Iraq won centered on oil exports from the
Kurdistan Region. The Iraqi Oil Ministry said on Saturday the International
Chamber of Commerce’s Court of Arbitration ruled in Iraq’s favor.
(NRT Digital Media)