fanger
Gold Member
An Israeli oil company has been ordered by a Swiss court to pay $1.1 billion to Iran in compensation in a long-standing legal battle related to a joint venture before the Islamic Revolution, the IRNA news agency says.
Citing an “informed source” at Iran’s Presidential Center for Legal Affairs, IRNA said the ruling relates to the Israeli company’s sale of Iranian oil and withholding the money.
Iran has been conducting three arbitration suits against Israel at French and Swiss courts in a legal tussle estimated worth several billion dollars.
The case relates to a joint venture established in 1968 under the defunct shah of Iran to ship the country’s oil to the Israeli port of Eilat in the Mediterranean for export to Europe.
Iran cancelled the contract after the Islamic Revolution of 1979 because the country doesn’t recognize Israel.
The Tel Aviv regime has issued a secrecy order under which any information about the company’s operations and news of arbitration is subject to military censorship.
The EAPC, part of TAO, is one of the most secretive companies in Israel, operating under a special legal force since 1968.
The company enjoys immunity from public control and regime supervision including its comptroller as well as the Knesset and the media.
PressTV-IRNA Israel ordered to pay Iran 1.1 billion
Report Swiss court orders Israel to pay Iran 1.1 billion in oil pipeline dispute - Diplomacy and Defense - - Haaretz Daily Newspaper Israel News
they will try not to pay as costs mount up,Mazel Tov
Citing an “informed source” at Iran’s Presidential Center for Legal Affairs, IRNA said the ruling relates to the Israeli company’s sale of Iranian oil and withholding the money.
Iran has been conducting three arbitration suits against Israel at French and Swiss courts in a legal tussle estimated worth several billion dollars.
The case relates to a joint venture established in 1968 under the defunct shah of Iran to ship the country’s oil to the Israeli port of Eilat in the Mediterranean for export to Europe.
Iran cancelled the contract after the Islamic Revolution of 1979 because the country doesn’t recognize Israel.
The Tel Aviv regime has issued a secrecy order under which any information about the company’s operations and news of arbitration is subject to military censorship.
The EAPC, part of TAO, is one of the most secretive companies in Israel, operating under a special legal force since 1968.
The company enjoys immunity from public control and regime supervision including its comptroller as well as the Knesset and the media.
PressTV-IRNA Israel ordered to pay Iran 1.1 billion
Report Swiss court orders Israel to pay Iran 1.1 billion in oil pipeline dispute - Diplomacy and Defense - - Haaretz Daily Newspaper Israel News
they will try not to pay as costs mount up,Mazel Tov