Sputnik- Iran will pay Turkey a $1.9-billion compensation package in accordance with a decision by the International Court of Arbitration which ruled in favor of Turkey in a gas pricing dispute in February 2016, local media reported Tuesday.





MOSCOW (Sputnik)�� According to�the Anadolu Agency, both Iran and Turkey also agreed on�a 13.3-percent discount on�the prices of�gas delivered from�Iran to�Turkey.

In 2012, Turkey decided to�take Iran to�the International Court of�Arbitration, claiming that the country had ramped up�gas prices too high during�the period between�2011 and 2015. In 2016, the court ruled in�favor of�Turkey, and ordered a reduction of�gas prices on�Iranian gas exports to�Turkey.