The Turkish government has announced the termination of the 52-year-old Turkey-Iraq Crude Oil Pipeline Agreement, effective July 27, 2026, following the pipeline’s closure in March 2023 due to legal disputes over unauthorized exports. Turkey aims to negotiate a new deal to maximize the pipeline’s potential, as Iraq’s federal and Kurdish governments recently agreed to resume oil shipments to Turkey’s port of Ceyhan.
Explain It To Me Like I’m 5: The Turkish government decided to stop a long-time agreement with Iraq that allowed oil to be sent through a big pipe, which hasn’t been working for over two years, starting in July next year.
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