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The pipeline between Iraq and Turkey is ready for operation as of Wednesday

Adel 5 October, 2023 1:46 pm Forex Market, Market Update

Turkish Energy Minister Alp Arslan Bayraktar said on Thursday that the crude oil pipeline from Iraq via Turkey, which has been halted for about six months, is ready for operation as of Wednesday and that Ankara is preparing to start shipments.

Turkey stopped flows through the oil export route from northern Iraq after a ruling issued by the International Chamber of Commerce that ordered Ankara to pay compensation to Baghdad for unauthorized exports between 2014 and 2018.

Speaking to NTV, Bayraktar said that there are now no obstacles to shipping Iraqi oil to global markets.

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