ANKARA - Turkish firms stopped selling oil products to Iraq on Saturday due to $1 billion in unpaid debt, CNN Turk channel quoted Foreign Trade Minister Kursad Tuzmen as saying.

Iraqi state oil marketer SOMO told Turkey on Thursday that the debt would be paid within 15 days, but 34 Turkish firms exporting oil products such as gasoline and liquefied petroleum gas stopped loading oil for Iraq in the Turkish ports of Mersin and Iskenderun. "Our firms have stopped loading from oil facilities today because no development has been seen on payments and the firms' receivables exceeded $1 billion," Tuzmen said. If Baghdad pays its debt, then the problem will be solved and oil flow into Iraq will resume, he said. Ankara has set Jan. 21 as the deadline for payment of debts and warned it would stop selling to its crude-rich neighbour. Iraq imports oil products from Turkey, Iran and Kuwait but it plans to import less because of increased oil refining capacity at home. PIN/REUTERS
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