P.M. BRIEFING : Mobil to Pay $13 Million to Iran
Mobil Corp. will pay damages of $13 million to Iran in settlement of several claims stemming from the 1979 Iranian revolution, a Western diplomat close to a mediating tribunal said today.
“Mobil has settled various claims with the Iranians and will pay the money to the National Iranian Oil Co.,” the diplomat said.
For years myriad claims and counterclaims between Iran and several major U.S. oil companies have been before the Hague-based Iran-U.S. Claims Tribunal.
The tribunal is charged with arbitrating all commercial and government claims between the two nations arising out of the 1979 Iranian revolution and a string of ensuing expropriations and broken contracts.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
