Switzerland’s highest court has ordered Israel to pay Iran around $1.1 billion plus interest in a decades-old dispute over a secretive oil pipeline company predating the 1979 Islamic revolution which made the countries enemies.
The Swiss Federal Tribunal rejected an appeal, citing lack of due process, against an arbitration ruling last year. The verdict, dated June 27, was available on the Lausanne court’s website.
It also awarded Iran 450,000 Swiss francs ($461,302) in court costs and lawyer fees.
China has issued a blunt warning against Australia, asking the nation to keep itself out of the South China Sea dispute.
Australian Foreign Minister Julie Bishop commented on China’s decision of slamming The Hague verdict. She said on Wednesday that the Asian nation must respect the UN ruling. “To ignore it would be a serious international transgression,” she added. Bishop also confirmed that Australia will continue patrolling the Sea while enjoying its freedom of navigation exercises. Continue reading