Iran says West owes over $4 billion for oil

An official with the Iran's oil ministry has confirmed that the country's international oil buyers owe over $4 billion to the Islamic Republic, Trend reported on May 20.

Director of the International Affairs Department at National Iranian Oil Company Mohsen Ghamsari has announced that among the European countries which were buying oil from Iran before the sanctions, Greece has not still paid its debts to the country, Iran's SHANA news agency reported on May 20.

Ghamsari went on to say that Royal Dutch Shell also has not settled its debts without unveiling further details.

Previously Iranian media outlets reported that the country's oil minister Bijan Namdar Zanganeh has tasked a working group with collecting $2.3 billion debt from Royal Dutch Shell.

Shell lost money trading Iranian crude in 2012 shortly before a European Union embargo and still owes $2.3 billion to Tehran for oil purchases.

Copyright: Trend, 2014