Iran wins case against Israeli firms

Click here: Press TV.ir – Iran wins case against Israeli firms

Three Israeli oil companies have to pay hundreds of millions of dollars to Iran’s Oil Company in compensation based on arbitration.The three firms, namely Paz, Sonol and Delek, which were privatized after the 1970s, try to delay the payment by appealing, the Israeli daily Haaretz reported.The National Iranian Oil Co. (NIOC) has not yet managed to collect the debt, while legal proceedings on two similar cases are also underway.

The arbitration carried on in Switzerland and the Netherlands over the past 20 years are related to the activities of a legal entity by the name of Trans-Asiatic Oil.It was a top-secret deal between the Zionist regime and NIOC during the rule of Iran’s ousted Shah under the name of Eilat-Ashkelon Pipeline Co.After the victory of the Islamic Revolution, the oil terminals in Eilat and Ashkelon were shut down and the large fleet of giant oil tankers halted shipping Iran’s oil. The Israeli firms owe the money to the Iranian side for services they received in the past.The lawsuits were filed by Iran against the Zionist regime in 1985.

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