A full year has passed since the decision to close the oil pipeline between Iraq and Turkey, leaving behind huge losses and vague expectations for the future of its flow. The closure resulted in a loss of approximately $11 billion to $12 billion for Iraq, while the two countries face a long-term legal struggle over the provisions of the 1973 treaty.

Financial and legal obstacles impede the resumption of the flow of oil through the pipeline, with Iraq accumulating debts and international oil companies refraining from working under these circumstances. Geopolitical factors further complicate the scene. The tense relations between the Iraqi government and its Kurds are intertwined with the war in Ukraine and Gaza. Increasing the possibility of disrupting any deal, and with no formal proposals or agreements from Iraqi or Kurdish officials, the future of the Iraq-Turkey oil pipeline remains ambiguous, leaving global oil supplies in a state of uncertainty.