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Export Credit Guarantees: Iran

Volume 468: debated on Monday 26 November 2007

To ask the Secretary of State for Business, Enterprise and Regulatory Reform with reference to the answer of 3 May 2007, Official Report, column 1816W, on Iran: export credits guarantee, how many requests for Export Credit Guarantees Department cover for exports to Iran were received in each of the last five financial years; and if he will make a statement. (166110)

I refer the right hon. Member to the answer of 18 June 2007, Official Report, column 1492W, on Iran: Export Credit Guarantees.

To ask the Secretary of State for Business, Enterprise and Regulatory Reform what has been the total level of UK export credit guarantee exposure with Iran in each of the last five financial years. (166142)

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.

To ask the Secretary of State for Business, Enterprise and Regulatory Reform when the most recent UK export credit guarantees for trade with Iran were issued; and if he will make a statement. (166143)