ANGLO-SOVIET OIL AGREEMENT

Dominion, Volume 22, Issue 136, 5 March 1929, Page 11

ANGLO-SOVIET OIL AGREEMENT

CITY CIRCLES MYSTIFIED DEMAND FOR PARTICULARS (United Press Association.—By Electric Telegraph.—Copyright.) (Australian Press Assn.—United Service.) (Rec. March 4, 11.10 p.m.) London, March 4. The Soviet arid Anglo-American oil agreement is beginning to mystify the city. A leading article in the “Financial Times” declares that definite particulars should immediately be disclosed to enable the public to judge its real significance. A statement issued by the Dutch Shell group that the agreement has not provided for the sale of Russian petrol or crude oil by any of their companies at the price of other products fixed under the world market price, in order to provide a margin to compensate the owners for appropriated properties, conflicts with interpretations from Moscow. The statement does not disclose the extent of margin, or how it is being allocated. Shell’s further assertion that Russian petrol is not sharing on the British market equally with other companies, is irreconcilable with what was previously understood. According to the “Financial News,” the City regards the agreement as highly inopportune, and says that it morally and financially assists the Soviet, thereby weakening an inducement to settle its liabilities.