ANKARA

Türkiye’s Center for Countering Disinformation on Friday denied allegations that billions of dollars from the Iraq-Türkiye Crude Oil Pipeline "had disappeared."

The claims, circulated on social media, that suggested that Türkiye earned $2.32 billion from the pipeline, transferred the sum to the state-run Turkish Energy Company (TEC), and lost $1.42 billion were "completely baseless," the center said on Turkish social media platform NSosyal.

It noted that state-owned Turkish Petroleum Pipeline Corporation (BOTAS) generated $1.48 billion in revenue from oil transportation between 2014 and 2018, and that the arbitration ruling in question contained no reference to Türkiye receiving $2.32 billion in revenue.

The center underlined that TEC is fully state-owned and that all of its income and expenditures are recorded, audited by the Court of Accounts, and reviewed in parliament’s Committee on State Economic Enterprises.

“Any revenue loss or disappearance is not possible,” it stressed.

"In the arbitration case, Türkiye defended its rights arising from international law, the violation claims it brought against Iraq were accepted, and it was ruled that Iraq must pay compensation to Türkiye,” the center said.

It added that the annulment case initiated by Türkiye against the compensation decision made in favor of Iraq is still ongoing.