Tehran to receive Shell's debt after lifting of sanctions

Tehran to receive Shell's debt after lifting of sanctions

The UK Exchequer has agreed to settle a debt of $3 billion owed by the giant oil company Shell to Tehran as soon as sanctions are lifted, Iranian Deputy Minister of Economy Mohammad Khazaei said.

Iran’s entire debts to international monetary institutes are less than the amount that Shell owes Tehran, the Fars agency cited him as saying.

Shell was involved in the development of Iran’s Soroush and Norouz oil fields in Persian Gulf waters, as well as on the 15th and 16th blocks of the Pars gas field, but all the projects were stopped as a result of the sanctions in 2012, Trend reminds.

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