Today marks the one-year anniversary since Kurdistan Region's oil exports were abruptly halted following a landmark arbitration ruling that found Turkey in violation of a pipeline agreement with Baghdad. In a decision that reshaped regional dynamics, a France-based arbitration court concluded that Turkey had breached an agreement by allowing Kurdistan to export oil through the Ceyhan Port without Baghdad's consent.

Prior to the cessation of exports, the Kurdistan Regional Government (KRG) had been sending approximately 450,000 barrels of crude oil per day through the pipelines to Turkey's Mediterranean port of Ceyhan. This accounted for 0.5 percent of global oil supplies and generated substantial revenues for the region. However, since the ruling, the KRG has incurred losses amounting to at least $11 billion in revenue, according to reports from various media outlets.

The cessation of oil exports has had a profound impact on the daily lives of ordinary citizens in the Kurdistan Region. Many have experienced disruptions in electricity supplies due to the closure of oil production facilities operated by numerous companies in the region.

Efforts to resolve the impasse between Erbil and Baghdad have been ongoing, with both sides engaged in negotiations to reach a settlement that would allow for the resumption of oil flows. While Turkey has indicated its willingness to resume Kurdistan's crude exports, Baghdad has yet to finalize the terms of an agreement with Erbil.

The protracted halt in oil exports underscores the complexities of regional politics and the delicate balance of power in the Middle East. As discussions continue between the involved parties, the ramifications of this dispute extend far beyond economic considerations, impacting the lives and livelihoods of millions in the Kurdistan Region and beyond.