Airbus executive urges European banks to get over Iran fears
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PARIS - An Airbus executive urged European banks on Tuesday to overcome their wariness about financing export projects to Iran because of US sanctions, highlighting difficulties European companies face in their rush to Tehran.
French banks, deterred by a $9 billion US fine on BNP Paribas in 2014 for violating US financial sanctions, have been reluctant to handle deals with Iran despite Iranian authorities urging them to return now the measures have been lifted.
For companies like Airbus, which signed a deal to sell Iran 118 Airbus jets worth $27 billion after international sanctions were lifted against Tehran last month, that makes getting financing for such deals more complicated.
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!" he told a conference on export financing at the French Finance Ministry.
