§ Mr. Wrigglesworthasked the Secretary of State for Trade what response has been made to the Iranian Government's suggestion that oil counter-purchase should be used as a means of financing major civil projects in Iran by United Kingdom companies.
§ Mr. DellHer Majesty's Government have informed the Iranian Government that they have no objection in principle to the use of oil counter-purchase as a means of financing certain priority Iranian civil projects provided that the arrangements enable contracts to be negotiated on a satisfactory commercial basis by the United Kingdom firms concerned.