ONASSIS-ARABIA TANKER PACT HIT

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP75-00149R000600090092-9
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: November 16, 2016
• Document Release Date: March 17, 1999
• Sequence Number: 92
• Publication Date: September 30, 1954
• Content Type: NSPR

NW YORK
ApproVMFDse 2000/05/24: CIA-RDP7543)Rq
STATINTL
CPYRGHT
Onassis-Arabia
'Tanker Pact Hit
Special to the Herald Tribune
LOS ANGELES, Sept. 29- B.
Socony-Vacuum Oil Co., warned)
tonight that the oil transporta- i
tion deal between Saudi Arabia
and Aristotle Socrates Onassis,'I
Greek shipowner, "could bring
about a complete change in the
pattern of ownership of the
world's merchant marine,"
The agreement, signed in the
spring, gives Mr. Onassis prefer-
ence in transporting most of the
oil. produced in Saudi Arabia.
Mr. Onassis, in turn, has agreed
to build and operate a fleet of
Arabian oil tankers.
"The proposal has extraordi-
narily far-reaching dangers,"
,Mr. Jennigs said. "Obviously,
if a given country with an ex-
portable commodity could re-
quire that all of that export be
tarried in its own ships, an im-
porting country could with equal
logic require that all its imports
be carried in its own ships. Thus,
if all countries were to follow
the Onassis plan, there could be
no international trade at all."
Mr. Jennings' attack on the
agreement, made at a meeting
of the Los Angeles World Affairs
Council, was the first by a top
ranking private American oil
official. The pact has been under
fire from the governments of
seven nations, including the
Approved For Release 2000/05/24: CIA-RDP75-00149R000600090092-9