NPR logo

Sanctions Interfere With Shell's Payment To Iran

  • Download
  • <iframe src="https://www.npr.org/player/embed/149376262/149376240" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Sanctions Interfere With Shell's Payment To Iran

Business

Sanctions Interfere With Shell's Payment To Iran

Sanctions Interfere With Shell's Payment To Iran

  • Download
  • <iframe src="https://www.npr.org/player/embed/149376262/149376240" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Royal Dutch Shell can't pay the $1 billion it owes Iran because of sanctions imposed on the Middle East country by the United States and European Union. The sanctions have made it nearly impossible to transfer the money. Reuters reports that Shell is trying to wrap up its business dealings with Iran.

DAVID GREEENE, HOST:

NPR's business news starts with Iran sanctioned success.

Oil company Royal Dutch Shell can't pay Iran the $1 billion it owes because U.S. and European Union sanctions against the Asian nation have made it almost impossible to transfer the money.

Reuters reports that Shell is wrapping up its business dealings with Iran, but still owes money for several more weeks' worth of oil delivery. Shell might have to ask the British government to help transfer the money, as no banks will handle the deal.

Copyright © 2012 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.