Austria increases insurance coverage for Iran to 1 billion euros

EghtesadOnline: Austrian Finance Minister Hans Joerg Schelling announced on Tuesday that Vienna has increased Iran's insurance coverage from 280 million to one billion euros.

News ID: ۷۳۷۲۳۶

28 September 2016

Schelling made the remarks in meeting with visiting Governor of Iran's Central Bank Valiollah Seif and accompanying delegation in the Austrian capital Vienna.
According to the Austrian minister, export credit agency Oesterreichische Kontrollbank AG (OeKB) has provided Insurance cover of one billion euros for the Islamic Republic.

Valiollah Seif told Islamic Republic News Agency in Vienna that Austrian Central Bank has activated Iran's Central Bank account again, reports IRNA.

Now Iranian banks can easily operate in Austria, Seif said.

Austria was among the European countries which following the implementation of the nuclear deal, known as the Joint Comprehensive Plan Of Action, adopted a positive stance towards the Islamic Republic and the Austrian banks started to reestablish ties with the Iranian peers.

Seif arrived in Vienna on Monday for a 2-day visit to the European country.