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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Reuters: Paris court embarrassed Türkiye and Kurdistan

    Rocky
    Rocky
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    Reuters: Paris court embarrassed Türkiye and Kurdistan Empty Reuters: Paris court embarrassed Türkiye and Kurdistan

    Post by Rocky Sun 02 Apr 2023, 5:35 am

    [size=45][size=41]Reuters: Paris court embarrassed Türkiye and Kurdistan[/size]
     14 hours ago
    1,294
    [/size]

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    A Reuters report confirmed that the ruling of the International Trade Court in Paris in favor of the Iraqi government against Kurdistan's illegal oil exports and the exposed Turkish complicity put them in a legal impasse after the court's ruling showed that the Iraqi government has the right to control loading exports.
    The report stated, “According to three sources, Turkey was also required to pay 50 percent of the discount under which the KRG oil was sold. However, Turkey claimed that the international tribunal canceled four of Iraq’s five demands and ordered Iraq to pay compensation to Turkey, without mentioning the amount. One of the sources said that Turkey also won a corresponding demand that Iraq pay the pipeline production fees.
    A source familiar with the case said, “Based on all judgments, the net amount owed by Turkey to Iraq was about $1.5 billion before interest. According to a Turkish source, Iraq’s initial request was about $33 billion,” noting that “the arbitration case covers the period from 2014 to 2018, while the second arbitration case, which will take about two years, will cover the period from 2018 onwards.”
    And the report indicated that “the ruling forced Turkey to stop pumping about 450 thousand barrels per day of Iraqi oil through the pipeline to Ceyhan, while an informed source said that this consisted of 370 thousand barrels per day of KRG crude and only 75 thousand barrels per day of federal crude.” ".
    He explained that "the Iraqi SOMO company will have to issue instructions to Turkey regarding shipping the ships, otherwise the crude oil will be stored without anywhere to go," noting that "the legal impasse in which Turkey and Kurdistan were placed forced the two to conduct negotiations with the Iraqi government on how to reach an agreement." Mutual on the exports of northern Iraq. A KRG source said Turkey had no choice but to halt pipeline flows until an agreement was reached.
    The report indicated that “Kurdistan’s sales of crude oil reached a total value of $12.3 billion in 2022, an increase of 62 percent over 2017, and as of June 2015, the Kurdistan Regional Government resumed independent oil sales and signed several prepayment agreements with oil trading houses without reference.” to the federal government, while commercial sources said that the Kurdistan region, with the cessation of its oil exports, stopped paying energy traders, including Vitol and Petraco, for crude shipping deals worth six billion dollars.
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