Europe’s economic interests in Iran undeniable: Official
Head of Iran Chamber of Commerce, Industries and Mines Gholam Hossein Shafei highlighted the reasons behind a recent move by France to finance exports to Iran and said European countries have ‘undeniable interests’ in the Islamic Republic.
Speaking to reporters in Tehran on Saturday on the sidelines of a meeting of the International Conference of Asian Political Parties (ICAPP), Shafei underlined the need for Iran to boost its presence in international markets adding the country should redouble efforts to promote economic ties with other countries, particularly those in Europe, Tasnim News Agency reported.
He pointed out that Europe also has undeniable interests in the Islamic Republic, he said.
By developing ties with Iran, he noted, Europe could gain easy access to regional markets.
France will start offering euro-denominated credits to Iranian buyers of its goods later this year in a move to bolster trade while keeping it out of the reach of US sanctions, said the head of state-owned investment bank Bpifrance.
“We put a lot of preparation into this in 2017 and we keep on working, every single day, on the conditions of our entrance into Iran,” said Bpifrance’s CEO Nicolas Dufourcq, referring to the new loans, Reuters reported on Thursday. “This is a completely separate flow (of money),” he added.
“There is no (US) dollar in this scheme... no one holding a US passport.”
There is a pipeline of about €1.5 billion in potential contracts from interested French exporters, Dufourcq told lawmakers.
The plan is to offer dedicated, euro-denominated export guarantees to Iranian buyers of French goods and services. By structuring the financing through vehicles without any US link — whether to the currency or otherwise — the aim is to avoid the extraterritorial reach of US legislation.