Export Credit Guarantees: Iran

Mr. Hague
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.

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

Mr. Hague
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.

Malcolm Wicks
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:

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|Financial year|Future liabilities (£ million)|
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|2002-03       |110.6                         |
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|2003-04       |171.8                         |
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|2004-05       |253.0                         |
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|2005-06       |318.0                         |
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|2006-07       |286.2                         |
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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.

Mr. Hague
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.

Malcolm Wicks
The most recent issued cover (an insurance product) was on 27 September 2006.