Iraq Warns Turkey Trade Ties At Risk Over Kurdish Oil Sales

Baghdad has warned Turkey it risks major sanctions for allowing KRG exports through Ceyhan. But the ISIS advance means Baghdad now has more on its plate.

Iraqi oil minister ‘Abd al-Karim al-Laibi says Baghdad is considering further measures against the Kurdistan Regional Government (KRG) after a second tanker laden with Kurdish oil completed loading at the Turkish port of Ceyhan.

Mr Laibi, speaking to reporters in Vienna ahead of the OPEC ministerial meeting on 11 June, said Iraq-Turkey trade – worth $15bn last year – was at risk. Baghdad has already submitted a request for arbitration through the Paris-based International Chamber of Commerce, after the KRG shipped the first cargo from Ceyhan on 23 May. The Kurdish region can no longer lay claim to its 17% share of state revenues now that it has started large-scale exports of its own oil, he says, adding that legal action through Iraqi courts is also being considered. (CONTINUED - 1086 WORDS)