Shell Pays Iran $2bn

By John Lee.

Oil giant Shell has reportedly paid off its historical debts to the National Iranian Oil Company (NIOC).

A Shell spokesman is quoted as saying:

“Following the lifting of applicable EU and US sanctions, we can confirm that payment of the outstanding Shell debt to NIOC has now been made.

“The firm paid back €1.77 billion [$1.95 billion] over the past three weeks for oil that had been taken before sanctions were imposed”.

(Sources: BBC, Reuters)

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