By John Lee.
The Central Bank of Iran (CBI) says Austrian export credit agency OeKB has raised its cover for Iran transactions from 280 million euros to 1 billion euros.
The announcement by Austrian Minister for Finance Hans Jörg Schelling (pictured) came during a meeting with CBI Governor Valiollah Seif in Vienna.
Schelling said his country is interested in “completing banking relationship” with Iran and taking measures to remove existing obstacles to trade.
Austria’s Raiffeisen Bank and Erste Bank have already set up shop in Iran.