Turkey says Iraq was ordered to pay compensation to Ankara in arbitration case

Gulf Keystone Petroleum

28/03/2023 14:51

ANKARA, March 28 (Reuters) - The International Chamber
of Commerce (ICC) overruled four out of five demands from Iraq,
and recognised the majority of Turkey's demands in a
longstanding arbitration case, Turkey's Energy Ministry said in
a statement on Tuesday.
    "(The ICC) ordered Iraq to pay a compensation to Turkey,"
the ministry said, without revealing the amount of compensation.
    The ICC ruled in favour of Iraq on Thursday in the
arbitration case against Ankara, Reuters reported on Saturday.
    The case relates to Iraq's claim that Turkey violated a
joint agreement by allowing the Kurdistan Regional Government
(KRG) to export oil through a pipeline to the Turkish port of
Ceyhan.
    Crude exports to Turkey from the semi-autonomous Kurdistan
region and northern Kirkuk fields were halted following the
verdict.

 (Reporting by Huseyin Hayatsever and Can Sezer; Editing by Alex
Richardson)
 ((Huseyin.Hayatsever@reuters.com;))