Iraq victorious in Kurdish oil arbitration case against Turkey

Iraq has halted crude exports from the semi-autonomous Kurdistan region and northern Kirkuk fields after winning a longstanding arbitration case against Turkey. The International Chamber of Commerce ruled in favour of Iraq, which claimed that Turkey violated a joint agreement by allowing the Kurdistan Regional Government to export oil through a pipeline to the Turkish port of Ceyhan. Turkey has been ordered to pay Iraq around $1.5 billion before interest, covering 2014-2018. Iraq will hold talks to ensure oil exports through Ceyhan and state-owned SOMO's obligations with oil companies.