Middle East Economic Survey
Turkey Wins Gas Price Ruling Against Iran
The Switzerland-based International Chamber of Commerce Court (ICC) on arbitration ordered on 27 February the immediate reduction by 18% in the price Turkey pays for Iranian gas imports. The case was brought against Iran by Turkeys Botas, after Tehran rejected Turkeys call for price cuts in March 2004. Botas has already announced that it will immediately recalibrate its payments to the National...