REQUEST BY BRITAIN

Greymouth Evening Star, 20 September 1946, Page 7

REQUEST BY BRITAIN

OIL INTERESTS’ PROTECTION IN RUMANIA “A QUESTION OF JUSTICE" (Rec. 12.30 p.m.) PARIS, Sept. 19. In the Balkan Economic Committee Mr. Gregory (Britain), speaking on the proposal to insert a special clause in the Rumanian treaty to protect United Nations’ oil companies in Rumania, said the companies were operating under great disadvantages which might make continued working impossible. He asked for compensation,' including the provision of foreign exchange for damage and destruction during wartime and the repeal of # the Nazi-inspired petroleum law of 1942. Mr. Gregory said that the replies received by the committee from the Rumanian delegation showed that the United Nations petroleum concerns were a substantial part of Rumanian economy, making a considerable contribution to Rumania’s reparations deliveries. He wanted it to be clearly understood that he was not seeking to re-open the reparations questions. If the companies were to continue delivering the large tonnage of oil which they still produced, even after the war/ 4,000,000 tons of which annually went into reparations payments, it was essential that they should be allowed foreign exchange for essential equipment which was not obtainable’ in Rumania. He said Britain’s interest was not selfish —it was a question of, justice In asking for repeal of the Naziinspired law he was proposing restoration of Rumanian sovereignty. Britain asked for restoration of the Rumanian 1937 law, but only until theRumanian Government could freely decide on and pass a new law if it wished. The committee adjourned. The Military Committee adopted the military clauses of the Italian draft treaty as a whole, with all the amendments adopted earlier by the committee. A report will now be prepared for the plenary session.