Backdoor battle

Israel is locked in a 27 year-old, 3 billion-dollar, oil-supply arbitration dispute with Iran

By
July 10, 2013 15:21
An oil platform at Iran's Soroush oil fields

An oil platform at Iran's Soroush oil fields 390. (photo credit: REUTERS/Raheb Homavand)

Two or three times a year, in what has become an annual routine over the past 11 years, Attorney Avigdor (Dori) Klagsbald packs his briefcase with documents and balance sheets and flies to Paris. There, he represents the Government of Israel in one of its most guarded secrets – arbitration with Iranian lawyers.

Yes, you haven’t just misread that. Lawyers of the two arch rivals are talking to each other, exchanging documents and accusations. Despite the animosity and the inflammatory rhetoric between the two governments, when it comes to money and property, they are ready to engage with each other. One of the arbitration sites is the International Court of Arbitration (ICC) in Paris and revolves around a Switzerland-based holding company called the Trans-Asiatic Oil Company (TAOC) and its Israeli subsidiary, the Eilat-Ashkelon Pipeline Company (EAPC).

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