Trade and Industry written question – answered at on 18 June 2007.
To ask the Secretary of State for Trade and Industry pursuant to the answer of 3 May 2007, Official Report, column 1816W, on Iran: Export Credits Guarantee, in what way the Export Credits Guarantee Department has restricted the availability of cover for Iran; for what reasons; and for how long.
ECGD undertook a review of its cover policy for Iran in December 2005. Taking account of the prevailing risk outlook, cover capacity was reduced in order to contain growth in exposure. Cover is decided on a case-by-case basis and priority is given to UK goods and services. More recently, an arrangement has been made whereby Ministers will be consulted before cover is committed for any particular transaction.
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