Italy, UK and Korea see billions in export boost from lifting of Iran sanctions

(Reuters, Milan, 14 July 2015) A gradual lifting of sanctions against Iran could lift Italian exports to the Asian country by around 3 billion euros ($3.3 billion) in the next four years, Italy's export credit agency SACE said on Tuesday. Meanwhile, Britain's export credit agency UKEF also announced on Tursday the initiation of a review of Iran to assess creditworthiness after a nuclear deal was reached between world powers and Tehran. South Korea's export credit agency also pledged to provide financial support to Korean firms trying to secure business in Iran, as industrial countries jockey to enter the market after the nuclear deal.