Inform, Inspire, Embolden. Reconcile!

Kuwait’s IPG Suing Eritrea For unpaid Bills

The Independent Petroleum Group (IPG) is suing Eritrea for Kuwait Dinars 19 million (apx. $65 million) due payments for petroleum delivered to Eritrea.
 
IPG resorted to the Court of Arbitration in London hoping “to obtain an arbitration award confirming that Eritrea and the Petroleum Corporation of Eritrea… should immediately pay IPG the value of delivered petroleum products.”
 

Kuwait News Agency (KUNA) reported that “IPG has been supplying petroleum products to the Petroleum Corporation of Eritrea (PCE) for more than 11 years.”
 
The Eritrean government is facing difficulties in meeting its international financial obligations due to severe shortages in hard currency.

IPG hopes to collect the due amount from Eritrea’s international assets, but the Eritrean government’s assets are registered under the names of individuals and dubious entities run by its extensive ruling party network.
 
Kuwait, though not as close as Qatar, is among the few Arab countries that until recently had close relations with the Eritrean Government.

 

Pinterest

Nevsun Loses Appeal to Dismiss Slave Labor Case

22 Nov 2017 Gedab News Comments (3)

A British Columbia court dismissed Nevsun’s appeal to have the case filed against it to be rejected. Three Eritrean refugees…

Enough to the Cruel Man in Asmara

22 Nov 2017 Hannan Abdullah Comments (77)

The need of good governance inspires us to say enough to the cruel man in Asmara. It is the historical record…

The Case of “Business and Human Rights” In…

21 Nov 2017 Tesfabirhan Weldegabir Redie Comments (31)

Companies have an obligation to conduct due diligence of their Business activity and this article is a case of “Business…

To Nobody's Surprise, Sanctions on Eritrea Renewed

18 Nov 2017 Salyounis Comments (74)

(1) The Security Council voted to extend the mandate of the Monitoring Group on Somalia and Eritrea (SEMG) and to…

Music

Cartoons

Links

Follow Us

Email
Print