SACE

Financial Services
Italy

"Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions...European export credit agencies are guaranteeing trade finance for Western companies doing business with Iran. Italian export credit agency SACE has also undertaken its first small transactions with Iran."The lingering risks should not be underestimated, however, as they might create problems ... legal, documentary, operational, for companies interested in building or restoring commercial or financial relationships with local counterparties," a SACE spokesman said." (Reuters, "Cautious Western insurers rebuild business ties with Iran," 10/21/2016).