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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

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    Al-Moussawi: Türkiye's demand for compensation from Iraq is merely pressure... and its documents are

    Rocky
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    Al-Moussawi: Türkiye's demand for compensation from Iraq is merely pressure... and its documents are Empty Al-Moussawi: Türkiye's demand for compensation from Iraq is merely pressure... and its documents are

    Post by Rocky Sun 10 Sep 2023, 7:12 am

    Al-Moussawi: Türkiye's demand for compensation from Iraq is merely pressure... and its documents are refuted
    • Time: 09/10/2023 13:08:20
       
    • Read: 832 times

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    {Economic: Al-Furat News} Member of the Parliamentary Oil and Energy Committee, Zainab al-Moussawi, ruled out the existence of benefits accruing to Turkey from Iraq due to compensation for the Kurdistan region’s oil exports in recent years.
    Al-Moussawi told {Al-Furat News} agency, “Turkey is inflating the amount because of its demand for a portion of the debts resulting from oil transportation fees with the interest accumulated since the 1990s, which is strange because Iraq did not export a single barrel of oil during the first half of the 1990s, and after that the export was supervised.” The United Nations through the “Oil for Food” program, and thus Iraq did not receive a single dollar from its oil exports, but rather they went directly to a special UN account, through which Iraq’s basic goods were imported.” 
    Al-Moussawi stated, “The International Court has determined the calculation of interest payment according to specific dates based on the compound annual interest rates for Turkish bonds denominated in US dollars, but it has not specified when, how, and who calculates these interests and when they are paid, which requires cooperation between the Ministry of Oil and the Iraqi banking system.” To accomplish this mission."
    Al-Moussawi confirmed that “there are no effects from Turkey’s ongoing economic pressures towards Iraq, since what the Paris Club court ruled required Turkey to pay 1.9 billion dollars at a time when Turkey is demanding that Iraq pay 526 million dollars, so here there will be a financial difference and Turkey will remain indebted to Iraq.” .
    The Turkish government recently filed a lawsuit against the Iraqi government before an American court, demanding that Baghdad pay it compensation amounting to $956 million, refusing to pay any compensation to Iraq. 
     
    According to a report by the "Middle East Eye" website, based in the British capital, London, about the problems between Turkey and Iraq regarding the export of Kurdistan Region's oil through the port of Ceyhan, the Turkish government filed a lawsuit against the Iraqi government before the District Court of Columbia in the American capital, Washington, according to which it refuses to pay any compensation to Iraq, Baghdad demands compensation amounting to $956 million.  
     
    Iraq has not paid part of the fees for transporting oil through Turkish territory since the 1990s. The international arbitration panel set an interest rate on this debt, which increases successively whenever Iraq delays payment. 
     
    Turkey says, according to the report, that with the interest rate set by the International Arbitration Tribunal in Paris calculated for the amounts that each of the two countries must pay to the other, the amount that Iraq must pay to it becomes greater than what it must pay to Iraq.
     
    In this regard, it believes that Iraq will receive compensation amounting to $2.6 billion after calculating interest, while Turkey will receive $3.5 billion, meaning that Ankara will gain $919 million for the difference between the two informants for the period preceding the international arbitration panel’s decision, in addition to $37.7 million. interest after the Authority’s decision, bringing the total to $956 million.  
    Five months passed on (August 25, 2023) since the export of oil from the Kurstan and Kirkuk region through the Turkish port of Ceyhan was halted, which came after the decision of the international arbitration panel in Paris, causing losses to Iraq that, according to Rudaw Media Network’s monitoring, amounted to 5 billion dollars.
     
    The export of oil from the Kurdistan Region through the Turkish port of Ceyhan to abroad stopped on March 25, in response to a decision issued by the international arbitration panel in Paris based on a lawsuit filed by the Iraqi authorities against Turkey.
    From.. Raghad Dahham
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