HC Deb 26 February 1963 vol 672 cc150-1W
Mr. Skeet

asked the Lord Privy Seal (1) what is the value of British and Anglo-Dutch oil investments, including field and distribution systems, sequestrated in Rumania, other Eastern European territories, the Union of Soviet Socialist Republics, and China; and what amount of compensation is still outstanding from the Governments concerned;

(2) what is the amount of claims for compensation arising out of the sequestration of oil assets in Rumania and associated territories in China; and what representations have been made by Her Majesty's Government to the respective Governments for payment thereof.

Mr. Heath

Claims in respect of British oil interests in Roumania amounting to approximately £96 million have been registered under the Foreign Compensation (Roumania) (Registration) Order 1954. By Article 10 of the Anglo-Roumanian Financial Agreement of 10th November, 1960, negotiations for the settlement of claims connected with direct ownership of or participation in oil companies in Roumania are due to take place in the course of the year 1966. There has been no separate registration of oil interests in any other Eastern European territory, the Union of Soviet Socialist Republics or China, and the information asked for is therefore not available in respect of those countries.

Agreements providing for the payment of compensation for the nationalisation, expropriation and dispossession of British assets have been concluded since 1948 with Yugoslavia, Czechoslovakia, Hungary, Poland and Bulgaria. No negotiations have hitherto been possible in respect of nationalised British assets in the Union of Soviet Socialist Republics or China.