HUNGARY'S POSITION ON IRAN EXPORT CREDIT INSURANCE

C O N F I D E N T I A L BUDAPEST 000289 SIPDIS SIPDIS EUR/NCE MICHELLE LABONTE E.O. 12958: DECL: 02/27/2022 TAGS: KDEM PREL PGOV HU SUBJECT: HUNGARY'S POSITION ON IRAN EXPORT CREDIT INSURANCE LIMITS: DUAL USE ITEMS ONLY Classified By: POL/C Eric V. Gaudiosi. Reasons 1.4 (b) and (d). ¶1. (C) America Desk officer Andras Bacsi-Nagy told poloff on 22 February that the GOH will support the consensus of EU member states in terminating export credit insurance to Iran for "dual use items only." According to Mr. Bacsi-Nagy, the GAERC council will take up this issue again at the next scheduled meeting, and Hungary will support the "recently agreed to consensus of the council." The MFA "had considerable internal debate," said Bacsi-Nagy, over whether to follow the "U.S.-UK plan to terminate export credits across the board" or to support a more limited approach. When asked "what criteria" would be applied to determining what constitutes a dual use item, Mr. Bacsi-Nagy said "it is unclear at this point which internationally accepted agreements will take precedent." ¶2. (U) The Embassy will report any additional details in advance of the next GAERC FM's meeting. (NOTE: GOH position paper submission deadlines for GAERC FM meetings are generally on Tuesday of the week prior to GAERC meetings.) FOLEY