Iran’s NDC to sue EU for illegal sanctions

Azerbaijan, Baku, Dec.7/ Trend G.Mehdi/ The North Drilling Company of Iran (NDC) will file a complaint against the European Union for its illegal sanctions imposed on the NDC, the Mehr News Agency quoted NDC's managing director Hedayatollah Khademi as saying. All the related documents and inquiries have been submitted to a number of experts and international institutions, he said, emphasizing that the NDC's activities meet international law requirements. At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran's oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran. U.S. sanctions entered into force on June 28, while EU bans on Iranian oil imports came into force on July 1. In October, the EU approved another major package of economic sanctions on Iran. In July, Khademi said that the NDC plans to buy 14 drilling rigs for $800 million. He added that ten onshore and four offshore drilling rigs will be purchased. Over the past five years, Iran has earned some $300 million from drilling 30 oil wells in Turkmenistan waters in the Caspian Sea, Khademi said in January. The country has prepared comprehensive plans to carry out drilling operations and export technical and engineering services to different countries, he added. Iran plans to increase the number of its drilling rigs operating in onshore and offshore oilfields by 36 units, to reach 134 units by March 2014, the Shana News Agency quoted National Iranian Oil Company's managing director Ahmad Qalehbani as saying. Do you have any feedback? Contact our journalist at agency@trend.az