25% of Greek demand for oil will be imported from Iran

25% of Greek demand for oil will be imported from Iran

Athens, January 22, 2016/Independent Balkan News Agency

By Olga Mavrou

That is what was agreed Friday between deputy minister of Petroleum of Iran Hussein Amir Zamaninia and Energy Minister of Greece Panos Skourletis, during the official visit of the former to Greece.

Regarding the debt of Hellenic Petroleum (ELPE, the bigger oil refiner in Greece)  to Iran, it was decided to be  repaid in four years. The amount of debt recognized by both sides was not announced, but reportedly will be less around EUR 650 mln.

Trade relations with Iran discontinued, when international sanctions were imposed on it, and so Greece could not pay for the Iranian oil that was already imported to the country just before the embargo. Greeks insisted on paying this old debt by current prices but instead they got 50 installments.