Tuesday, August 23, 2005

Iraq pays Turkish companies $450 million

Iraq have paid out $450 million to Turkish companies, who had previously exported oil products to the country but not received payment. Turkish officials will meet with executives from Iraqi oil company SOMO to discuss the problem of non-payment by Iraq. Turkish State Minister Kursad Tuzmen warned Turkish exporters to be careful when exporting to Iraq and for them to undertake some sort of guarantee for the money due to them from exports.

Read the rest of the article on Hürriyetim

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