Iraq, KRG reach deal to restart oil exports to Türkiye

Money Talks

English - April 10, 2023 08:45 - 6 minutes
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Officials in Baghdad and Erbil have reached a preliminary agreement that ends the Kurdish regional government's ability to carry out independent oil exports. Turkiye had halted flows via a pipeline to the Mediterranean port of Ceyhan from Iraq's Kirkuk fields. That's after the International Chamber of Commerce ordered Ankara and Baghdad to pay each other compensation in a long-running arbitration dispute. Iraq's central government, which considers independent Kurdish oil exports illegal, accused Turkiye of violating their 1973 agreement by trading oil with the KRG without its consent. Turkish Energy Ministry said the ICC ordered Iraq to compensate for several violations concerning the case.
#IraqPolitics #TürkiyePolitics #OilDeal