I refer the right hon. Member to the answer of 18 June 2007, Official Report, column 1492W, on Iran: Export Credit Guarantees.
ECGD’s exposure (future liabilities) to Iran, relating to both export credit guarantees and insurance, at the end of each of the last five financial years is set out in the following table:
Financial year Future liabilities (£ million) 2002-03 110.6 2003-04 171.8 2004-05 253.0 2005-06 318.0 2006-07 286.2
As at the end of October 2007, future liabilities stood at £275.4 million. In addition, there are around £29 million of outstanding claims relating to transactions supported in the pre-revolution period.
The most recent issued cover (an insurance product) was on 27 September 2006.