From The New American
''Royal Dutch Shell is seeking to pay a $1.4 billion debt it owes to
Iran that it has been prevented from settling since a European Union
embargo that started July 1.
A report from
Platts news service on June 25 said that the EU embargo included a ban
on oil imports and a ban on the provision of insurance for tankers
shipping Iranian oil. Shell, as an Anglo-Dutch-owned company, is subject
to EU jurisdiction.
With previous attempts by Shell to settle the debt blocked by the
embargo, Shell is seeking to circumvent the roadblock by paying off the
debt with grain.''
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