Latest development Sep 24, 2026
GAR reported that a D.D.C. magistrate judge recommended confirming the award and rejected Turkey’s net-creditor argument.
The award
- Amount awarded
- $1.47B ($1,471,390,486.05) net of the counterclaims awarded to Turkey, plus interest
- Current estimate
- Disputed. Turkish Minute reports that Iraq puts the interest-adjusted balance at about $601.9M, while Turkey argues that interest on its counterclaims (about $526.6M) leaves Iraq owing Turkey about $956.9M.
- Award holder
- Republic of Iraq
- Respondent
- Republic of Türkiye
- Forum
- ICC Case No. 20273/AGF/ZF/AYZ/ELU · 1973 Iraq–Turkey Crude Oil Pipeline Agreement and amendments · ICC Rules 2012 · seat Paris
Challenges
Turkey applied to the Paris Court of Appeal for partial annulment, arguing that the tribunal exceeded its mandate by applying international law and breached due process. The court dismissed the application on March 10, 2026 and ordered Turkey to pay Iraq €200,000 in costs.
Enforcement
Iraq petitioned the D.D.C. on April 10, 2023 to confirm the award (No. 1:23-cv-00978). GAR reported on September 24, 2026 that a U.S. magistrate judge had recommended confirming the award and rejected Turkey’s argument that it is the net award creditor.
Recovered to date
None reported
Notes
The magistrate judge’s report is known from GAR’s summary, and the district judge’s ruling on it was not checked. The competing interest figures are the parties’ positions as reported in the press.