VOL. XXXIV

NO. 44

5-AUGUST-1991

Iran

MITI Pays Mitsui Consortium $563mn in Compensation for IJPC Losses

Japan's Ministry of Trade and Industry (MITI) announced on 31 July that ithas paid Yen 77.71bn ($563mn) in trade insurance to cover losses incurred bythe Mitsui-led consortium which participated in the Iran Japan PetrochemicalCompany (IJPC). The five-member Mitsui consortium had applied for Yen 93.07bnin insurance claims to MITI, which provides cover for Japanese firms againstwars, coups and...