Page:United States Statutes at Large Volume 60 Part 2.djvu/464

 1553 60 STAT.] UNITED KINGDOM-MUTUAL AID SETTLEMENT-MAR. 27,1946 oil companies, limiting the importation from the United States of plant and materials necessary to rehabilitate American oil properties in certain British areas, were discussed and cleared up individually on a satisfactory basis. The Government of the United Kingdom agrees that it will not impose or encourage the imposition of restric- tions on the importation of petroleum materials from the United States likely to prejudice American companies in relation to their competitors. M. GENERAL PETROLEUM QUESTIONS The principles of general commercial policy recently discussed between the two Governments relate to petroleum as to any other commodity. The two Governments recognize the importance of early agreement on petroleum questions of mutual interest and, pending the establish- ment of formal intergovernmental machinery to deal specifically with petroleum questions, will consult together as necessary on such questions. ANNEX I TRANSACTIONS REFERRED TO IN SECTION C PARAGRAPH 3 OF THIS Ate, P. M8. AGREEMENT The following transactions, in which the liability for payment has Trtnsoutse heretofore been acknowledged and the method of computation is oftn arrange- not in dispute, have been left for settlement outside the offsetting arrangement, and payment will be made in due course. 1. Iceland. To carry out previously made arrangements, in divid- ing between the two Governments the proceeds from sales of petro- leum products shipped to Iceland via the United Kingdom, the Government of the United States shall be credited with the proceeds of sales of such petroleum products made during the period from January 1, 1944 to October 31, 1944, inclusive. If, however, the proceeds from such sales should exceed the landed cost of such products in the United Kingdom, any excess shall be credited to the Govern- ment of the United Kingdom, which has met under reciprocal aid the expenses incurred by it in respect of such petroleum products for handling charges in the United Kingdom, freight from the United Kingdom to Iceland, leakage en route and handling charges in Iceland. In the case of sales of such petroleum products made during the period from November 1, 1944 to September 1, 1945, inclusive, the Government of the United States shall be credited with the landed cost in the United Kingdom of the petroleum products sold and the Government of the United Kingdom will be credited with any pro- ceeds over and above such cost. The resultant net balance of accounts is known to be in favor of the Government of the United States, although the exact amount is subject to future determination. This balance shall be settled by cash payment to the Government of the United States. 2. Profits from Cairo-Suez Pipeline. The Government of the United Kingdom agrees to pay the Government of the United States the amounts due to the Government of the United States, to be

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