EU unblocks Iran oil money; Iran-Shale new pact

Iran’s Oil Minister says Iran will have access to its blocked overdue oil income from British oil company Shale.
Rostam Qasemi told Mehr News that “with a new permission from the EU and UN, Iran will soon have access to its blocked oil revenue.”

“The overdue debt by Shale Company is more than $ 2b. After sanctioning Iranian oil by the EU, the Oil Ministry has boycotted Shale oil Company,” he added. “Currently, no oil is sold to this British company, and the company’s overdue debts has not risen as well,” Qasemi asserted.

In response to Mehr News question that was any oil sold to Shale through intermediaries, Qasemi said “no.” In answer to another question on the method for receiving oil revenues from Shale, the minister said that “with EU sanctioning Iran oil, financial resources coming from oil exports to Shale were blocked.”

Oil Minister also pointed to new agreements between Iran and Shale Company to release blocked oil revenue from Shale.

“The necessary permits have been taken from the EU and UN. It is expected that in the near future, the resources are paid to the Ministry of Oil,” Qasemi said.