Financial Services

"Austria agreed on Wednesday to significantly increase its export guarantees for deals with Iran during a visit by the Islamic Republic's central bank chief, two people familiar with the matter said. It will raise the total amount of guarantees that Oesterreichische Kontrollbank, the body responsible, can provide to roughly 1 billion euros ($1.1 billion) from more than 200 million euros, the people said. "It is about saying that it is possible to do significantly more than before," said one of the people, who spoke on condition of anonymity because the talks between Iranian and Austrian officials were confidential." (Reuters, "Austria signals readiness to do more business with Iran," 9/28/2016).


The Central Bank of the Islamic Republic of Iran (CBI) says Austrian export credit agency OeKB has raised its cover for Iran transactions to 1 billion euros, the Mehr news agency reports. The announcement by Austrian Minister for Finance Hans Jörg Schelling came during a meeting with CBI Governor Valiollah Seif in Vienna, the report said. “In the meeting, it was announced that OeKB’s insurance cover for exports to Iran has increased to 1 billion euros from 280 million euros,” Mehr said, citing a CBI statement. (Press TV, "Austria's OeKB raises Iran export financing," 9/28/2016).