Swiss arbiters ruled in favor of the national Iranian oil company in a long-standing dispute with Israel controlled Trans-Asiatic Oil Company. The sum to be paid is $1.2 billion. Thanks to the Obama administration’s “landmark” nuclear deal with Iran, its national oil company has been removed from the sanctions list.
The case is interesting in that it recalls a time before radical Islam swept into power in Tehran when Iran and Israel had a budding alliance. Of course in 1979 that all changed along with Iran’s refusal to complete their end of the deal, which called for Iran to deliver oil to Israel until 2017. Despite this, the Swiss Supreme Court in Lausanne saw things differently, giving into Iran’s accusation that it is owed compensation for the 50 shipments of oil it had already sent to Israel before the Shah’s fall.
The hypocrisy of Iran winning a case whose existence only happened, because the same Iranian regime wanted to cut business ties with Israel to begin with is glaring. What is even more wild is the Swiss arbiters. The logic of their decision lacks foresight. Obviously, the Israeli company would have been glad to continue shipping oil, but the Iranians refused to work with them.
So now Israel must pay a regime money most likely to be used in terrorism against Israelis and Jews worldwide.