The National Iranian Oil Company (NIOC) and Royal Dutch Shell have reached a final deal on how the Anglo-Dutch company must clear its debt of $2.3 billion outstanding since 2012, a NIOC official says.

The two sides agreed on a mechanism after several rounds of negotiations, paving the way for resumption of oil purchases from Iran by Shell, head of NIOC�s international affairs Mohsen Qamsari said.

�The payment of the outstanding debt by this British company immediately after the annulment of sanctions has been finalized,� Qamsari said in remarks quoted by the Mehr news agency on Monday.

�The resumption of Iranian crude oil sales to the company is conditional to the clearance of the past debts,� he added.

By Press TV