Royal Dutch Shell paid its outstanding debt of 1.77 billion euros ($1.94 billion) to Iran following the termination of anti-Tehran sanctions.
Shell settled its $1.94 billion it owed the National Iranian Oil Company (NIOC) over the Islamic Republic’s oil deliveries which Shell had been unable to pay for due to the sanctions.
“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,” a Shell spokesman said in a statement as cited by Reuters on Monday.
The spokesman further said the Anglo-Dutch company now is eager to make new investments in Iran.
“We remain interested in exploring the role Shell can play in developing Iran’s energy potential within the boundaries of applicable laws,” he said.
Shell’s debt of $2.7 billion stems from Iranian oil deliveries in 2011 and 2012 that the company was unable to pay because of the sanctions.
Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran’s nuclear program and implemented it on January 16.
The comprehensive nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran after coming into force.
For the first time in Iran's aviation history, a flight carrying an all-female crew and…
Tehran’s Cyber Police Chief, Brigadier General Davood Moazzami Goudarzi, announced a crackdown on individuals causing…
Doha will stop gas shipments to the EU if member states enforce new legislation on…
At least 15,000 British soldiers left the country's Armed Forces between November 2023 and October…
Journalists have identified the names of 84,761 Russian soldiers who died during the war in…
The United States Navy has inadvertently shot down its own F/A-18 fighter jet in a…