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Shell Begins Repaying Debts to Iran

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By BENOIT FAUCON: Feb. 17, 2016 

Royal Dutch Shell PLC said Wednesday it had started the process of repaying $2 billion in oil-related debts owed to Iran, easing a key hurdle to doing business there now that western sanctions have been lifted.

“Following the lifting of applicable EU and U.S. sanctions, we can confirm that the process for paying Shell’s outstanding debt to [state-run National Iranian Oil Co.] has started,” the Shell spokesman said.

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