Airbus has called on EU banks to overcome their wariness about financing export projects to Iran.
New indications are growing in Europe over what may be an early sign of the growing dissatisfaction of businesses toward the reluctance of banks to finance their Iran deals even now that the sanctions against the country have been lifted.
Airbus has now taken the lead on this front and has called on EU banks to overcome their wariness about financing export projects to Iran because of the sanctions.
European governments and their export credit agencies support a resumption in trade with Iran, said Nigel Taylor, senior vice-president for Customer, Project and Structured Finance at Airbus.
"With this blessing, I can't understand why we only see the back of banks at the moment. Don't be afraid!" Taylor has been quoted by Reuters as saying in a conference on export financing at the French Finance Ministry.
However, the head of the French banking federation, Marie-Anne Barbat-Layani, also on the panel, said the US legal framework regarding sanctions remained too uncertain for now.
"To be able to intervene, we banks need to have complete legal security and clarity," she said. "We're not there yet."
Barbat-Layani also said European companies should make an effort and bill their sales in euros rather than U.S. dollars to avoid falling foul of the U.S. legal system.
"We need to develop euro-denominated financing, even if that's not enough," she has been quoted as saying by Reuters.
Iran signed a deal worth $27 billion with Airbus last month over the purchase of 118 new planes. The deal was signed during a landmark visit to Paris by Iran’s President Hassan Rouhani.
Officials in Tehran have already announced that Iran expects the French major aircraft maker to deliver the first batch of planes as early as July 2016.
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