No Oil Sales to Greece before Payment of Debts

Iran’s Minister of Petroleum, Bijan Zangeneh, has said Iran has pegged future oil sales to Greece to the payment of Greece’s debts to Tehran.

Athens has amassed debts to Iran of nearly $800 million from oil purchases.

For restoration of [Iran’s] oil sells to Greece after the sanctions removal, first, the issue regarding [Athens’s] debts must be settled inasmuch as new deals depend on finalization of the previous ones,” said Zangeneh following a meeting with Greek Minister for Foreign Affairs Nikos Kotzias in Tehran.

The Iranian official said Greece has amassed debts of nearly 800 million dollars of oil money to Iran which must be decided on in the coming months.

The Minister said the Greek company Hellenic Petroleum alone owes Iran some 755 million dollars for its oil purchases from Tehran, adding that during his meeting with Kotzias “some proposals were put forwards for settlement of the debts“.

Zangeneh further said the Greek Prime Minister is scheduled to visit Iran within the next few months, adding “it was decided that the issues regarding the payment of the debts must be settled before the visit, so that they do not create a negative point in the mutual relations of the two countries.

He also said cooperation of Iran and Greece in other areas will also depend on the debts’ settlement, and expressed hope that it will be soon resolved.

The Iranian Minister of Petroleum further touched on buying stocks of Greek refineries by Iranian firms, and said Tadbir Energy, an Iranian energy company, has indicated interest to purchase stocks of a Greek refinery which is supported by the Iranian Ministry of Petroleum.

“The purchase of Greek refineries by Iranian companies is a good thing to happen while the Ministry of Petroleum does not directly buy Greek refineries,” he added.

A delegation comprising 40 Greek business leaders arrive in Iran on Sunday, including representatives of Aegean Airlines, pharmaceutical companies such as ELPEN, Demo and Vianex.

(Source: Shana)

One Response to No Oil Sales to Greece before Payment of Debts

  1. Chris James 10th January 2016 at 4:50 am #

    LOL. Leave it to Greece to become an economic satellite of Iran.

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