Turkey is attempting to broker a deal between the central Iraqi government and the semi-autonomous Kurdish administration over how to resume Iraqi crude-oil exports via its territory, according to two Turkish officials.
Turkey halted flows through a twin-pipeline in March after an arbitration court ordered it to pay about $1.5 billion in damages to Iraq for transporting oil without Baghdad’s approval. Ankara has no intention of paying the fine and is asking the Kurds to pay it to Baghdad as they were the benefactors, the officials said.
Baghdad has asked Turkey to collect the money from oil exports and transfer it to Iraq after deducting 12.6% of the share allocated to the KRG, said the officials, speaking on condition of anonymity. The KRG, however, has told Turkey that it wants to claim the entire revenue from exports via its territory, arguing that it has been unable to collect funds from separate Iraqi oil exports, they said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Seven killed in Turkish drone strikes on PKK members in northern IraqERBIL (Reuters) - Turkish drone strikes on Thursday killed seven members of the Kurdistan Workers Party (PKK) including two medical personnel, in ...
Read more »
Turkey’s Mega Hike Has Most Analysts Cheering, Asking for MoreThe Turkish central bank’s unexpectedly hawkish interest-rate hike sparked a rally in the country’s assets on Thursday. The move impressed several market watchers, but also prompted questions about what it signals about future policy decisions.
Read more »
Scorched Europe battles deadly fires, Turkey shuts shipping laneBy Karolina Tagaris and Ezgi Erkoyun ATHENS/ISTANBUL (Reuters) - More searing temperatures fuelled wildfires and prompted health warnings across ...
Read more »
Turkey Closes Dardanelles Strait to Save Water to Fight Forest FireHundreds of ships were left unable to move between the Black Sea and the Aegean after Turkey closed the Dardanelles Strait to clear the area for planes fighting nearby forest fires.
Read more »
Turkey’s Lira Extends Rally After Central Bank’s Jumbo Rate HikeThe lira extended its rally to over 6% against the US dollar after the Turkish central bank raised interest rates far more than expected on Thursday.
Read more »
Turkey’s central bank raises interest rates again in another sign of normalizing economic policyANKARA, Turkey (AP) — Turkey’s central bank raised its key interest rate by an aggressive 7.5 percentage points on Thursday, in a new sign of a return to more traditional economic policies under President Recep Tayyip Erdogan.
Read more »