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Israel Loses Secretive Oil Pipeline Case To Iran, Ordered To Pay $1.1 Billion Plus Interest
forbes.com
The Swiss Federal Tribunal, Switzerland’s highest court, ordered Israel to pay $1.1 billion plus interest to Iran in a decades old dispute over a secretive oil pipeline predating Iran’s 1979 Islamic revolution. The verdict was dated June 27, while media broke the story late last week.
Until the Islamic revolution and the fall of the Pahlavi dynasty in 1979, Israel and Iran maintained close ties. In fact, after the Six-Day War (1967 Arab-Israeli War), Iran supplied a large part of Israel’s oil demand while Israel returned the favor.
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