Identifier
Created
Classification
Origin
07ROME821
2007-04-20 12:31:00
CONFIDENTIAL//NOFORN
Embassy Rome
Cable title:
UNSCR 1747/OECD: ITALIAN VIEWS ON COMMON LINE
how-toVZCZCXRO2017 OO RUEHBC RUEHDE RUEHDIR RUEHKUK RUEHRN DE RUEHRO #0821 1101231 ZNY CCCCC ZZH O 201231Z APR 07 ZDK FM AMEMBASSY ROME TO RUEHC/SECSTATE WASHDC IMMEDIATE 7792 INFO RUCNIRA/IRAN COLLECTIVE PRIORITY RUEHSS/OECD POSTS COLLECTIVE PRIORITY RUEHGG/UN SECURITY COUNCIL COLLECTIVE PRIORITY RUEHFL/AMCONSUL FLORENCE PRIORITY 2330 RUEHMIL/AMCONSUL MILAN PRIORITY 8574 RUEHNP/AMCONSUL NAPLES PRIORITY 2488 RHEHNSC/NSC WASHDC PRIORITY RUCPDOC/USDOC WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
C O N F I D E N T I A L ROME 000821
SIPDIS
SIPDIS
SENSITIVE
STATE FOR EUR/WE, KATHLEEN ALLEGRONE,
TREASURY FOR U/S STUART LEVEY
EMBASSY PARIS FOR OECD
E.O. 12958: DECL: 04/20/2017
TAGS: PREL EFIN ETRD EXIM OECD UN IR IT
SUBJECT: UNSCR 1747/OECD: ITALIAN VIEWS ON COMMON LINE
RESTRICTING EXPORT CREDITS TO IRAN
REF: A. STATE 50834
B. ROME 667
C. PARIS 544
Classified By: Economic Minister Counselor Tom Delare
for reasons 1.4 (b) and (d).
C O N F I D E N T I A L ROME 000821
SIPDIS
SIPDIS
SENSITIVE
STATE FOR EUR/WE, KATHLEEN ALLEGRONE,
TREASURY FOR U/S STUART LEVEY
EMBASSY PARIS FOR OECD
E.O. 12958: DECL: 04/20/2017
TAGS: PREL EFIN ETRD EXIM OECD UN IR IT
SUBJECT: UNSCR 1747/OECD: ITALIAN VIEWS ON COMMON LINE
RESTRICTING EXPORT CREDITS TO IRAN
REF: A. STATE 50834
B. ROME 667
C. PARIS 544
Classified By: Economic Minister Counselor Tom Delare
for reasons 1.4 (b) and (d).
1. (C) EcMin met April 20 with Giulio Terzi, MFA Director
General for Multilateral Political Affairs and Human Rights,
and staff to discuss ref A points. EcMin began by explaining
that we decided to approach the MFA, since previous meetings
with the Ministry of Finance (MOF) and SACE (Italy's export
credit agency) often ended with MOF and SACE officials
referring us to the MFA on the claim that FM D'Alema would
ultimately decide if there would be any change in Italian
policy on export credits to Iran.
2. (C) Terzi responded to reftel points by emphasizing the
dual public/private nature of SACE's ownership -- a private
joint-stock company, with the MOF as its majority
shareholder. Terzi stated that the GOI and SACE have "gone
beyond" UNSCR 1747 language on restricting export credits and
pointed to the Bank of Italy's swift actions against Bank
Sepah Rome. Terzi also noted that SACE has reduced exposure
to Iran over the past year. EcMin challenged this, pointing
to the fact that, while SACE has "reduced" exposure to Iran
as a percentage of its growing global portfolio, SACE has not
changed its exposure to Iran in real euro terms (ref B, para
5). Terzi did not challenge this point, but rather pointed
to the GOI's "strong efforts" to work with the U.S. and the
UN to "contain" Iran.
3. (C) EcMin pointed to the French ECA COFACE's public
announcement of a change in its export credit policy to Iran
(ref C) as a step the U.S. would like to see the GOI and SACE
take. MFA Director of the Office for Disarmament and
Non-proliferation, Filippo Formica, pointed out that SACE had
no history of public actions or announcements similar to
COFACE, because of their different ownership structures.
EcMin pressed the GOI to consider ways to do more and, then,
discuss these ideas with our OECD counterparts the week of
April 23. EcMin ended by stating that the U.S. not only
wants to have an economic impact on Iran, but send a strong
political message -- through tougher export credit policies
-- to influence Iranian behavior.
Spogli
SIPDIS
SIPDIS
SENSITIVE
STATE FOR EUR/WE, KATHLEEN ALLEGRONE,
TREASURY FOR U/S STUART LEVEY
EMBASSY PARIS FOR OECD
E.O. 12958: DECL: 04/20/2017
TAGS: PREL EFIN ETRD EXIM OECD UN IR IT
SUBJECT: UNSCR 1747/OECD: ITALIAN VIEWS ON COMMON LINE
RESTRICTING EXPORT CREDITS TO IRAN
REF: A. STATE 50834
B. ROME 667
C. PARIS 544
Classified By: Economic Minister Counselor Tom Delare
for reasons 1.4 (b) and (d).
1. (C) EcMin met April 20 with Giulio Terzi, MFA Director
General for Multilateral Political Affairs and Human Rights,
and staff to discuss ref A points. EcMin began by explaining
that we decided to approach the MFA, since previous meetings
with the Ministry of Finance (MOF) and SACE (Italy's export
credit agency) often ended with MOF and SACE officials
referring us to the MFA on the claim that FM D'Alema would
ultimately decide if there would be any change in Italian
policy on export credits to Iran.
2. (C) Terzi responded to reftel points by emphasizing the
dual public/private nature of SACE's ownership -- a private
joint-stock company, with the MOF as its majority
shareholder. Terzi stated that the GOI and SACE have "gone
beyond" UNSCR 1747 language on restricting export credits and
pointed to the Bank of Italy's swift actions against Bank
Sepah Rome. Terzi also noted that SACE has reduced exposure
to Iran over the past year. EcMin challenged this, pointing
to the fact that, while SACE has "reduced" exposure to Iran
as a percentage of its growing global portfolio, SACE has not
changed its exposure to Iran in real euro terms (ref B, para
5). Terzi did not challenge this point, but rather pointed
to the GOI's "strong efforts" to work with the U.S. and the
UN to "contain" Iran.
3. (C) EcMin pointed to the French ECA COFACE's public
announcement of a change in its export credit policy to Iran
(ref C) as a step the U.S. would like to see the GOI and SACE
take. MFA Director of the Office for Disarmament and
Non-proliferation, Filippo Formica, pointed out that SACE had
no history of public actions or announcements similar to
COFACE, because of their different ownership structures.
EcMin pressed the GOI to consider ways to do more and, then,
discuss these ideas with our OECD counterparts the week of
April 23. EcMin ended by stating that the U.S. not only
wants to have an economic impact on Iran, but send a strong
political message -- through tougher export credit policies
-- to influence Iranian behavior.
Spogli