ICA Rules Iran Pay $2b to Turkmengaz

The two nations were locked in the dispute for years, with the Turkmens claiming that Iran owed them $2 billion in unpaid gas import bills
ICA Rules Iran Pay $2b to Turkmengaz
ICA Rules Iran Pay $2b to Turkmengaz

The International Court of Arbitration (ICA) announced its verdict over the Iran-Turkmenistan gas row.
IRNA said based on information from the Oil Ministry and the National Iranian Gas Company, Iran has been convicted for not paying for gas it bought from Turkmenistan from 2007 to 2013.
As per the verdict, the details of which have not been disclosed yet, Iran should pay almost $2 billion to Ashgabat to settle its debt.
The Oil Ministry and the NIGC say under (the ICA) arbitration rules, the details of the verdict will not be issued unless the two sides agree on that.


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