Iran to pay $1.9B in compensation to Turkey over gas dispute
Iran will pay $1.9 billion in compensation to Turkey after the International Court of Arbitration ruled in Ankara’s favor in a dispute over pricing, Hamid-Reza Araqi, Iranian deputy oil minister, has said. He added that Tehran and Ankara have also agreed on a 13.3-percent discount on the prices of gas delivered from the Islamic Republic to Turkey, Mehr news agency reported Jan. 24. In 1996, Iran and Turkey inked a 25-year deal on supplying 30 million cubic meters of gas to Turkey per day. Ankara appealed to the International Court of ...
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