TEHRAN An Iranian businessman residing in Britain, Kaveh Mousavi, is going to sue the British Vitol Oil Company for not receiving his share of the 122-million-dollar oil contract between the company and the Islamic Republic, according to the London-based weekly *** Observer***.

The weekly said that Mousavi and Vitol Oil Company had set up another company in Bermuda for the purpose of exporting oil from the Central Asia to Iran.

The report added that former British foreign minister Robin Cook was informed that Vitol had received three million dollars from the insurance company in damages for the oil claimed to have been lost in Iran. However, Mousavi has said that Vitol's claim has only been a fraud, adding that no oil has been lost in Iran.

It is believed that when the case is referred to the court, many behind-the-scenes developments regarding the oil deal will be revealed. Mousavi intends to ask Allen Duncan, an MP from the Conservative Party, to testify in court.