Crescent file in final stage of arbitration

Tehran, May 15, IRNA – Ministry of Petroleum says the file on Crescent gas contract is in final stage of arbitration and no verdict has yet been issued in that connection.

The Crescent file has something to do with Iran gas exports to the UAE and the International Court of Justice (Hague) is busy considering it.

An Iranian MP has in an address to the open session of the Islamic Parliament of Iran recently claimed that the Islamic Republic of Iran had been sentenced to pay penalty to the Crescent Company.

Ministry of Petroleum announced in a statement on Monday that the claim that Iran was condemned in that case is not true, so the figures claimed to be connected to the condemnation of the country are not hence true.

'It's matter of surprise that certain media over the past weeks repeated baseless figures claimimg to be penalties sentenced to Iran; they showed doubtful function; this is while, no one, even the Crescent Company raised such a claim in the so-called lawsuit.'

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