Shell ‘will consider’ investing in Iran

Royal Dutch Shell will repay a $2bn (€1.7bn) debt to the National Iranian Oil Company when sanctions on Iran are lifted and will consider investing in the country’s vast energy sector, Shell’s boss for new business said.

Much would depend on the terms offered by the Islamic Republic once sanctions were lifted, said Edward Daniels, Shell’s executive vice-president for commercial and new business development.

He was speaking to Reuters while on a British government visit to re-open the country’s embassy in Tehran.