(Daily Mail, London, 17 August 2016) Iran said Wednesday that Norway had offered the Islamic republic a $1-billion credit line following a meeting between their foreign ministers in Tehran. Borge Brende and Mohammad Javad Zarif signed three “export credit” deals aimed at funding “development and infrastructure projects”, Iran’s foreign ministry said in a statement. Iran has struggled to tap international finance as many banks fear US penalties if they do business with the Islamic republic. A landmak deal between Tehran and world powers, which was signed in July last year and came into force in January, saw many international sanctions on Iran lifted in exchange for curbs to its nuclear programme. European countries have been keen to do business with one of the last frontier markets, but Washington has maintained sanctions related to Iran’s human rights record and missile programme.
