Oil Minister: Iraq is keen to restore its legitimate rights to its national wealth in accordance with international laws
Friday, July 15, 2022 9:05 PM
National News Center/ Baghdad
The final session of the arbitration panel of the International Chamber of Commerce was held today, Friday, for the dispute between the Republic of Iraq and the Republic of Turkey over the pipeline agreement between Iraq and Turkey in Paris.
In a statement received by the National News Center, Oil Minister Ihsan Abdul-Jabbar Ismail confirmed that
“Iraq is keen to restore its legitimate rights in its national wealth in accordance with international laws and treaties,” stressing
“Iraq’s respect for the just and equitable decisions issued by the courts and the concerned authorities that consider cases related to violations and disputes, including those related to oil wealth. He added that
he "firmly believes that the correct approach is to work on resolving these issues by resorting to peaceful legal methods." The statement continued,
"The International Chamber of Commerce is considering the arbitration case filed by the Republic of Iraq against the Republic of Turkey for violating the provisions of the Iraqi-Turkish pipeline agreement signed in 1973, which stipulates that the Turkish government must comply with the instructions of the Iraqi side regarding the movement of crude oil coming from Iraq in All storage and disposal centers and the final station. And he indicated that
"the Ministry of Oil was represented by the Minister personally, a number of ministry officials, the Iraqi embassy in Paris, and the legal and technical work team, due to the importance of the lawsuit, as it is the largest in the history of Iraq." Ismail said that
"the arbitral tribunal closed the presentation of the case by the parties, after hearing their regulations and their pleas, and that there is no further opportunity for extension or postponement, expecting that the arbitral tribunal of the International Chamber of Commerce in Paris will issue its final and decisive decision within the next few months."
He expressed his gratitude to the arbitral tribunal of the International Chamber of Commerce in Paris for its professional handling of the dispute, which gave the parties the opportunity and time to defend their positions.
He explained that Iraq has good relations with Turkey and that this arbitration does not constitute an obstacle to the development and expansion of bilateral relations to achieve common interests, while Iraq retains its constitutional powers and sovereignty over all its wealth.
The Minister praised the distinguished efforts of the International Legal Advisory Office and the Ministry’s Legal Committee in defending Iraq’s rights to manage its oil wealth and the Ministry of Oil’s possession of its constitutional powers and authorities, for their serious efforts over the past years to achieve justice and restore Iraq’s legitimate rights in order to preserve its security and sovereignty..