Magistrate Judge: $1.5B Award Against Turkey For Pipeline Dispute Should Be Confirmed

( September 24, 2026, 2:34 PM EDT) -- WASHINGTON, D.C. — A District of Columbia federal magistrate judge on Sept. 23 recommended confirming an International Chamber of Commerce (ICC) arbitral award worth nearly $1.5 billion against Turkey and in favor of Iraq for breaches of an agreement between the countries regarding the operation of crude oil pipelines, rejecting Turkey’s arguments for calculation of interest rates in a manner that would require Iraq to pay it more than $900 million....