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News ID: 46560
Publish Date : 17 November 2017 - 21:13

Austria, Iran to Trade in Non-Dollar Currencies


TEHRAN (Dispatches) - Iranian and Austrian officials have agreed to support non-dollar currencies in their trade transactions in future.
The agreement was reached between members of Tehran Chamber of Commerce and officials of Austria's Kontrollbank in Vienna.
"Our traders and businessmen are worried about the U.S. new sanctions against Iran and to relieve their stress we are offering non-dollar currencies transaction services,” an official of Oesterreichische Kontrollbank, better known as Kontrollbank, said.
He made the remarks after the holding a meeting with the members of Commerce Chambers of Tehran and Vienna.
"Our bank is a private sector bank and its specific area of activity is exporting to other countries,” he added.
The bank offers investment insurance against political risks for all European applicants willing to do business with Iranian partners.
After the implementation of the nuclear agreement of 2015 in early 2016, the Austrian Federal Ministry of Finance and OeKB defined conditions for covering Iran transactions, and since then cover for investments, guarantees, and offer of covers are issued again.