Iran Receives First Round of Post-Sanctions Finance From European Banks and ECAs

(Financial Tribune, Tehran, 23 September 2017) In what were the first finance deals clinched with cautious European banks after the implementation of the nuclear accord provided sanctions relief in January 2016, Iran signed two agreements worth a total of €1.5 billion ($1.8 billion) with Austria's Oberbank and Denmark's Danske Bank on Thursday. According to Oberbank's CEO, export credit guarantees covering 99% of a project’s volume will be provided by the Oesterreichische Kontrollbank (OeKB), the main Austrian body that issues them.