Republic of Iraq v Republic of Türkiye (D.D.C. No. 23-cv-00978-SLS-ZMF)

Procedural record

1. 13 February 2023Arbitration

   13 February 2023Arbitration

   ICC Final Award dated 13 February 2023

   International Chamber of Commerce

   Decision summary

   The ICC awarded damages to both Iraq and Turkey for breaches arising at different times, set off the amounts owed, and ordered Turkey to pay Iraq USD 1,471,390,486.05 plus interest under the specified Turkish government bond yield methodology.

   Participants

   Republic of Iraq

   Republic of Türkiye

   International Chamber of Commerce

   3 years, 7 months and 10 days later · 1318 days

2. 23 September 2026United States

   23 September 2026United States

   Report and Recommendation of the United States District Court for the District of Columbia in case No. 23-cv-00978-SLS-ZMF dated 23 September 2026

   United States District Court for the District of Columbia

   Case no.

   23-cv-00978-SLS-ZMF

   Decision summary

   The court recommended granting Iraq's petition to confirm the ICC Final Award. It held that the award required annual interest calculations using bonds available in the year interest accrued and declined to add pre-judgment interest inconsistent with the award.

   Participants

   Republic of Iraq

   Representative

   James Lloyd Loftis (For: Republic of Iraq)

   Expert

   Annie Emery (For: Republic of Iraq)

   Republic of Türkiye

   Representative

   Aloysius P. Llamzon (For: Republic of Türkiye)

   Expert

   Gabriel Perkinson (For: Republic of Türkiye)

   United States District Court for the District of Columbia

   Judge

   Zia M. Faruqui

   Authorities cited

   17

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     statute
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   • Wilko v. Swan (346 U.S. 427 (1953))
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   • Trividia Health, Inc. v. Nipro Corp. (2021 WL 5910437 (S.D.N.Y. Dec. 10, 2021))
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     case law