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)