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Austria’s Kontrollbank to Guarantee Iran Business

Austria’s Kontrollbank to Guarantee Iran BusinessAustria’s Kontrollbank to Guarantee Iran Business

The Oesterreichische Kontrollbank AG (OeKB) will issue guarantees for the overwhelming majority share of Iran-Austria trade, the president of Vienna Economic Chamber has said.
"During our negotiations [with OeKB], they announced that they're ready to guarantee the clearance of 80% of the volume of trade between Iran and Austria. The remaining 20% will be guaranteed through another local financial institution," Walter Ruck also told an Iranian economic delegation in Austria.
"Austrian banks previously had doubts concerning working with Iran because of the sanctions, but now they want to recreate the connection," he was also quoted as saying in an article published by the official news website of Iran Chamber of Commerce, Industries, Mines and Agriculture on Wednesday.
The delegation was led by Pedram Soltani, ICCIMA's vice president who also helms the Iran-Austria Chamber of Commerce.

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