Jan 27, 2021, 3:39 PM
Journalist ID: 3080
News Code: 84201338
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Iran's Export Guarantee Fund covers up to $800 million to Eurasia

Tehran, Jan 27, IRNA - The chairman of the Board of Directors and Managing Director of the Export Guarantee Fund of Iran Abdollah Sajjadi said on Wednesday that Iran's Export Guarantee Fund to Eurasian Economic Union countries covers up to $800 million.

Sajjadi made the remarks at the Iran-Eurasia Economic Diplomacy Summit on Wednesday.

Referring to the limitations of Iran's banking system due to outrageous US sanctions, he stated that the issuance of mutual guarantees with the help of peer institutions is one of the new strategies of this supporting institution to secure foreign trade.

Pointing to the allocation of $800 million to Eurasian Economic Union countries, including Russia, Kazakhstan, Armenia, Kyrgyzstan, and Belarus, he said that supporting exports through covering Eurasian political and commercial risks will be the fund's top priority.

Eurasia is the largest continental area on Earth, comprising all of Europe and Asia. Primarily in the Northern and Eastern Hemispheres, it is bordered by the Atlantic Ocean to the west, the Pacific Ocean to the east, the Arctic Ocean to the north, and by Africa, the Mediterranean Sea, and the Indian Ocean to the south.

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