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News ID: 15893
Iran » Iran
Publish Date: 15:32 - 18 November 2017
TEHRAN, November 18 - Iranian and Austrian officials agreed to support non-dollar currencies in their trade transactions in future.

Iran, Austria Agree to Trade in Non-Dollar Currencies

TEHRAN, Young Journalists Club (YJC) - The agreement was reached between members of Tehran Chamber of Commerce and officials of Austria's Kontrollbank in Vienna on Thursday.

"Our traders and businesspeople are worried about the US 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, announced on Thursday.

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.

 

Source: FarsNews

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