Switzerlands highest court has rejected an appeal by an Israeli company against a verdict to pay Iran money owed over a joint venture set up before the 1979 Islamic Revolution. A pipeline was jointly set up by the deposed regime of Mohammad Reza Pahlavi Irans last monarch and the Israeli companyEilat-Ashkelon Pipeline Co. (EAPC)in 1968 to ...

The Trans-Asiatic Oil Company, which is controlled by Israel, lost its appeal of the arbitration decision that obligates it to pay back a debt of $1.2 billion to Irans national oil company. The Swiss Supreme Court in Lausanne ruled on June 27 that Trans-Asiatic must pay the Iranians 250,000 Swiss francs (about 1 million shekels, or $260,000) of the ...