TEHRAN, Oct. 21 (MNA) � Deputy oil minister has announced that the Greeks will clear all oil debts to Iran within an installment-payment plan in a period of two years.


Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia described the new agreement between Iran and Greece over collection of oil revenues saying �final agreement has been reached on the venue for retiring Greece�s oil debt to Iran.�

�Several rounds of talks have been conducted between Iranian and Greek officials in Tehran and Athens,� underlined the official noting that Greece has agreed to settle its oil debts to Iran over two years.�

He also noted that sales of Iranian crude oil to the European country have been resumed as currently a daily average of 60 thousand barrels per day are shipped to Greece.

In response to a question on credit sales of oil to Hellenic Petroleum company as Greece�s largest refinery, Zamaninia asserted �in accordance with terms of National Iranian Oil Company (NIOC), all oil sales to foreign parties are carried out in cash.�

Deputy oil minister of Iran had previously maintained that Hellenic Petroleum�s amount of debt to be 900 million euros; �Greek oil officials will make a visit to Tehran in order to finalize the cooperation agreements between Iran and Greece,� he had highlighted.

In the years 2010 to 2012, Greece had paid about 5 to 6 billion dollars for the purchase of Iranian oil, but the halt in imports from Iran due to international sanctions as well as the stoppage in Libya�s oil production in the same period, had forced Greek companies to increase oil purchase from Russia and Kazakhstan.

By Mehr News Agency