HC Deb 24 July 1973 vol 860 cc425-6W
Mr. Skeet

asked the Secretary of State for Foreign and Commonwealth Affairs whether the Iraq Petroleum Co. Ltd. has been compensated for divested properties; when the claims initially accrued; and what action the Government have taken to expedite a statement.

Lord Balniel

Agreement between the Government of Iraq and the Iraq Petroleum Company Limited on outstanding disputes was reached on 28th February 1973. The terms of this agreement cover compensation both for claims arising out of the nationalisation of the company's assets in Iraq on 1st June 1972 and for earlier claims, including those arising from Iraqi Law 80 of December 1961. The Iraqi Government have ratified the agreement and published it in their Official Gazette on 1st March 1973.

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