Iran: Export Credit Guarantees

Mr. Hague
To ask the Secretary of State for Trade and Industry pursuant to the answer of 3 May 2007, Official Report, column 1816W, on Iran: Export Credits Guarantee, in what way the Export Credits Guarantee Department has restricted the availability of cover for Iran; for what reasons; and for how long.

Malcolm Wicks
ECGD undertook a review of its cover policy for Iran in December 2005. Taking account of the prevailing risk outlook, cover capacity was reduced in order to contain growth in exposure. Cover is decided on a case-by-case basis and priority is given to UK goods and services. More recently, an arrangement has been made whereby Ministers will be consulted before cover is committed for any particular transaction.

Mr. Hague
To ask the Secretary of State for Trade and Industry pursuant to the answer of 3 May 2007, Official Report, column 1816W, on Iran: Export Credits Guarantee, what steps are being taken to seek clarification of the applicability of the UN Security Council Resolution 1747 to the provision of export credits to Iran.

Malcolm Wicks
Representatives of HM Government have been consulting European Union member states in the light of the Council Common Position (2007/246/CFSP) dated 23 April to clarify the applicability of UN Security Resolution 1747 to the provision of export credits to Iran.

Mr. Hague
To ask the Secretary of State for Trade and Industry pursuant to the answer of 3 May 2007, Official Report, column 1816W, on Iran: Export Credits Guarantee, how many applications for export credits to Iran were made in each of the last five years; and if he will make a statement.

Malcolm Wicks
ECGD has received 153 applications for export credits to Iran in the last five years. The following table details how many applications were received in each of the financial years.

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|Financial year|Number of applications|
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|2002-03       |26                    |
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|2003-04       |50                    |
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|2004-05       |33                    |
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|2005-06       |24                    |
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|2006-07       |20                    |
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|Total         |153                   |
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