VOL. XXXII

NO. 41

17-JULY-1989

IRAN

Hague Tribunal Awards Phillips $110mn for Iminoco Expropriation

The Iran-US Claims Tribunal in the Hague - which was set up under the Algiersagreement of 1981 to arbitrate the settlement of government and commercialfinancial claims and counter-claims - has awarded some $110mn to PhillipsPetroleum of the US as compensation for the expropriation of its share in theIran Marine International Oil Company (IMINOCO), an offshore joint-venture owned50% by the National...