The crisis of stopping the export of Iraqi Kurdistan oil to Turkey has caused huge material and development losses estimated at more than 12 billion dollars, and hopes are placed on the results of the visit of Iraqi Prime Minister Muhammad Shia al-Sudani to the United States of America and the visit of Turkish President Recep Tayyip Erdogan to Iraq to reach a solution to the crisis.

During the past two days, the specialized energy platform monitored statements by Iraqi officials that carried messages heralding the imminent resolution of the crisis halting the export of Iraqi Kurdistan’s oil. Iraqi Oil Minister Hayyan Abdul-Ghani noted an imminent breakthrough in the crisis and revealed the imminent resumption of export operations. Abdul-Ghani explained that the Ministry of Oil asked the Kurdistan government to hand over the oil produced in the region to the “SOMO” company, as it is the only company authorized to market and export Iraqi oil.

The Oil Industry Association in the Kurdistan Region, "APIKOR," affirmed its keenness to immediately reach a mutually beneficial solution between the Baghdad government, the Kurdistan Regional Government, and international oil companies to restore oil exports. The Iraqi ambassador to Ankara, Majid Al-Lajmawi, revealed some of the most prominent files that will be discussed during the visit of Turkish President Recep Tayyip Erdogan to Baghdad. The visit is scheduled to witness the signing of strategic framework agreements in multiple fields, especially the resumption of the export of Iraqi Kurdistan oil through Turkey, and the energy and water files.

The roots of the crisis go back to Baghdad's refusal to flow oil from the region towards Türkiye without the approval of the federal government. This led to a request for international arbitration, especially since the Kurdistan region was controlling all the revenues.

In March 2023, the International Arbitration Court in Paris issued a ruling in favor of Baghdad, which Türkiye recognized. The court ruled that Ankara was obligated to pay compensation to the Baghdad government amounting to $5.1 billion.

Signs of a breakthrough indicate that the crisis of stopping the export of Iraqi Kurdistan's oil will soon be resolved. The visit of Iraqi Prime Minister Muhammad Shia al-Sudani to the United States of America and Turkish Prime Minister Recep Tayyip Erdogan to Iraq raises hope that solutions will be reached soon.