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COMMENTARY: Iraq v Turkey Final Award (February 2023)

By Zaid Al-Ali and Ahmed Tabaqchali,  May 24, 2023

1001 IRAQI THOUGHTS: On 23 May 2014, the Republic of Iraq (“Iraq”) commenced arbitral proceedings against the Republic of Turkey (“Turkey”). Those proceedings were commenced pursuant to an allegation that Turkey was in violation of the terms of an agreement that was signed in 1973 relating to the construction and use of oil pipelines. The arbitral tribunal (the “Tribunal”) rendered its final award on 13 February 2023 (the “Award”).

This commentary summarises the Award’s main contents, including the most important facts, the Parties’ arguments and the Tribunal’s reasoning and offers some analysis of the Award. The main elements of commentary concern the Tribunal’s award on the merits (and in particular its interpretation of the ITP Agreement), the Tribunal’s rationale for how damages should be calculated, the Tribunal’s damages award, and the Award’s likely impact. This commentary is not comprehensive and does not discuss all the elements and issues that are covered by the Award. The authors welcome comments and questions.

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