Restis to sign deal with Iraq

Restis Group, the Greek shipping company owned by Victor S. Restis, will sign an accord with the Iraqi government in the next two days for the use of its vessels to transport dry-bulk shipments. «The global financial crisis has pulled shipping down generally,» Restis said at a joint press conference with Iraq’s Minister of Transportation Amer Abdul-Jabbar Ismail in Athens yesterday. «Iraq is in a period of infrastructural rebuilding. Many raw materials will be needed.» Iraq, devastated by almost 30 years of wars and international sanctions, is banking on its oil wealth to pay for reconstruction. The Middle Eastern nation sits on the world’s third-largest oil reserves after Saudi Arabia and Iran.

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