The United Kingdom, (PNB NEWS). The United Kingdom is looking into ways to repay 400 million pounds ($522 million) debt to Iran.
Foreign Secretary Liz Truss said on Wednesday, declining to say whether it had already been settled.
“We have made paying off our debt to Iran a top priority, and we are looking for ways to do so,” she further added.
According to Reuters, she also stated that a British team was present in Iran.
IMS, a subsidiary of the British Ministry of Defence, signed contracts with Iran in 1971 to sell over 1,750 Chieftain tanks and armored vehicles.
The deal was canceled after the Shah was ousted during the 1979 Islamic Revolution.
Iran had paid for the undelivered tanks and claimed its money. The UK owes the debt, according to an international arbitration ruling in 2008, but it has yet to pay it.