Turkey loses appeal in Paris and faces multi-billion dollar fine to Iraq over oil pipeline dispute

Turkey was sentenced by a court ruling to pay $1.471 billion in compensation to Iraq after failing to overturn or annul the international arbitration decision issued in 2023. The decision confirmed that Ankara had illegally transported Iraqi oil through the Ceyhan port between 2014 and 2018, resulting in the oil being sold at prices lower than the official rate. The Turkish government responded by affirming its rejection of the arbitration and supporting the French court's ruling on the fine, while the Turkish parliament called for holding officials, including President Erdoğan, responsible for paying this amount.

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