Export credits to Iran become a hotter political issue

A. Berlin Faces Hurdles in Push to Get Hermes Out of Iran
  A. Berlin Faces Hurdles in Push to Get Hermes Out of Iran
(Der Spiegel, Berlin, 20 Nov. 2007) Although Berlin reduced the government export credit guarantees from €900 million last year to the current level of €500 million, canceling the Hermes guarantees altogether would be risky. Officials fear that, if the guarantees were eliminated, Tehran would no longer have any reason to repay what it already owes. At issue are receivables totaling roughly €5.5 billion, and not collecting on these debts would drive many German companies into bankruptcy.
  B. ECGD aid mocks sanctions threat against Iran
(The Times, London, 18 Nov. 2007) The UK government faces a diplomatic row with America over disclosures that it has provided the Iranian regime with financial support worth about £290m while at the same time calling for sanctions. The money was offered by the Export Credits Guarantee Department (ECGD) to support British firms exporting to Iran, mainly to the country’s petrochemical industry.
  C. France's export credit ties with Iran
(DTT-NET, Washington, 5 Nov. 2007) France's embassy in Washington said French banks reduced their exposure to Iran from $5.7 billion in December 2005 to $3.8 billion a year by the end of 2006. In an Embassy handout, it was noted that France changed its export credit policy towards Iran in a restrictive sense and decided in 2007 to significantly reduce its exposure limit and dramatically strengthen the conditions on these credits, with this policy to remain under close scrutiny, depending on the evolution of the nuclear crisis.