U.S. urges Europe to reduce export credits to Iran

(Financial Times, London, 8 Feb. 2007) Gregory Schulte, US ambassador to the International Atomic Energy Agency, has noted the failure of European governments to toughen financial sanctions on Iran over its nuclear programme, drawing attention to European export credit agencies that provide billions of dollars a year in help to Iran for the finance of imports. An internal European Union document on Iran reveals that officials are pessimistic about the chances of stopping Iran from getting enough fissile material for a nuclear bomb. Germany on Feb. 23rd emphasized that there have been no changes in the regulations of its Hermes export credit coverage for Iran.