VOL. XXXV

NO. 47

24-AUGUST-1992

Iran

Iran Settles Claims with Arco and Sun Oil Companies

Iran has agreed to pay Atlantic Richfield Company (Arco) and Sun Company Inc.$130.45mn each for losses the two US oil firms suffered following the 1979Iranian revolution, it was announced on 18 August. The agreement, which settlesthe last major oil-related claim at the Iran-US Claims Tribunal in The Hague,was reached on 14 August between representatives of Iran, Arco and Sun withoutthe official arbitration of...