The Organization for Economic Cooperation and Development (OECD)
downgraded Iran's rating in the country risk classifications of the
Participants to the Arrangement on Officially Supported Export Credits
(CRE) from 5 to 6, following a meeting held on June 26.
Increase in the convertibility and transfer risk as the results of the
controversial decision made by the US administration on re-imposing
sanctions on Iran could be the main reason behind OECD’s decision,
experts familiar with the issue told the Financial Tribune.
The measure is raising concern over European Union’s ability to meet
its commitments towards Iran following the US decision to unilaterally
abandon the 2016 nuclear agreement.
In May, EU foreign policy chief, Federica Mogherini said that the EU
was preparing a nine-point economic plan to keep the Iran nuclear deal
alive, including a plan for “the further provision of export credit and
development of special purpose vehicles in financial banking, insurance
and trade areas.”