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Thursday, November 1, 2012

''Shell Seeks to Pay Iran Debt With Grain''

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.

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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