Economy

Iraq Seeks U.S. Court Enforcement of Arbitration Award Against Turkey

Iraq Seeks U.S. Court Enforcement of Arbitration Award Against Turkey

Iraq has filed a petition with a U.S. federal court to enforce an arbitration ruling against Turkey concerning Iraqi oil exports that passed through a pipeline to a Turkish port, according to court documents. The petition requests "recognition, confirmation, and enforcement of the final ruling issued by the arbitration panel."

The arbitration ruling prompted Turkey to halt oil flow, which accounts for approximately 0.5% of global supplies, through the pipeline extending to the Turkish port of Ceyhan. Baghdad considers the exports from the Kurdistan Regional Government via Ceyhan illegal.

Last week, the Iraqi federal government and the Kurdistan Regional Government signed a temporary agreement allowing the resumption of northern oil exports through Turkey, but shipping companies report that flows have not yet begun.

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