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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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    Shaddad: Türkiye went to the American courts to evade paying Iraq's debts

    Rocky
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    • Post n°1

    Shaddad: Türkiye went to the American courts to evade paying Iraq's debts Empty Shaddad: Türkiye went to the American courts to evade paying Iraq's debts

    Post by Rocky Sun 10 Sep 2023, 10:07 am

    Shaddad: Türkiye went to the American courts to evade paying Iraq's debts
    • Time: 09/09/2023 23:17:58
       
    • Read: 3,783 times

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    {Politics: Al-Furat News} A member of the Parliamentary Oil and Gas Committee, Ali Shaddad, confirmed that Turkey had filed a lawsuit against Iraq in the American courts to evade paying Iraq’s debt.
    A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
    Shaddad said {to Al-Furat News} that: “The decision of the International Court in Paris gave Iraq the right to owe Turkey $1.5 billion in debts that must be paid.”
    He pointed out, "Turkey refused to pay its debts and went on to file a lawsuit against the federal government in American courts stating that it had lost huge sums of money due to the cessation of oil export operations through the port of Ceyhan."
    Shaddad explained, "The reason for filing this lawsuit lies in the nature of Turkish contracts with the Kurdistan Regional Government. There are losses, as Turkey claims, and the federal government is not concerned with these losses."
    An international arbitration panel obligated Turkey to pay $1.5 billion to Iraq in exchange for exporting oil from Iraqi Kurdistan through the port of Ceyhan between the years 2014-2018 without Baghdad’s approval.
    Following the decision of the Paris Arbitration Court on March 25, Turkey suspended oil exports to the Kurdistan Region, which constitute 0.5% of the world's total oil exports.
    Turkey filed a lawsuit in the District Court of Columbia in the United States and said that Iraq must pay Turkey ($956 million), because the decision of the Arbitration Court in Paris did not only impose an amount of ($1.4 billion) as compensation for the benefit of Baghdad, and in the issue of reducing the capacity of the pipeline. The transport tax imposed a $500 million fine on Iraq, as 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.
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