Identifier
Created
Classification
Origin
07THEHAGUE121
2007-01-23 14:56:00
CONFIDENTIAL
Embassy The Hague
Cable title:
NETHERLANDS/IRAN: HALTING EXPORT CREDITS
how-toVZCZCXRO9115 OO RUEHAG RUEHBC RUEHDE RUEHDIR RUEHKUK RUEHRN RUEHROV DE RUEHTC #0121/01 0231456 ZNY CCCCC ZZH ZDK TO ALL CITING NUMEROUS SERVICES O 231456Z JAN 07 FM AMEMBASSY THE HAGUE TO RUEHC/SECSTATE WASHDC IMMEDIATE 7947 INFO RUCNMEM/EU MEMBER STATES COLLECTIVE PRIORITY RUCNIRA/IRAN COLLECTIVE PRIORITY RUEHSS/OECD POSTS COLLECTIVE PRIORITY RUEHGG/UN SECURITY COUNCIL COLLECTIVE PRIORITY RUEHBJ/AMEMBASSY BEIJING PRIORITY 1971 RUEHJA/AMEMBASSY JAKARTA PRIORITY 0212 RUEHLJ/AMEMBASSY LJUBLJANA PRIORITY 0259 RUEHNE/AMEMBASSY NEW DELHI PRIORITY 0561 RUEHTN/AMCONSUL CAPE TOWN PRIORITY 0299 RUCNDT/USMISSION USUN NEW YORK PRIORITY 4224 RUEHIN/AIT TAIPEI PRIORITY 0164 RUEKJCS/SECDEF WASHDC PRIORITY RHEHNSC/NSC WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASH DC PRIORITY RUCPDOC/DEPT OF COMMERCE WASHDC PRIORITY
C O N F I D E N T I A L SECTION 01 OF 02 THE HAGUE 000121
SIPDIS
SIPDIS
STATE FOR EB/IFD/ODF, EB/IFD/OMA
STATE ALSO FOR EB/ESC/TFS, EUR/UBI, IO/T
PARIS ALSO FOR OECD
TREASURY FOR IA/OFFICE OF TRADE FINANCE
E.O. 12958: DECL: 01/23/2017
TAGS: PREL EFIN MNUC EXIM UNSC OECD NL
SUBJECT: NETHERLANDS/IRAN: HALTING EXPORT CREDITS
REF: A. STATE 4760
B. THE HAGUE 106
C. THE HAGUE 94
THE HAGUE 00000121 001.3 OF 002
Classified By: ECONOMIC COUNSELOR KAREN ENSTROM,
REASONS 1.4 (B) AND (D)
C O N F I D E N T I A L SECTION 01 OF 02 THE HAGUE 000121
SIPDIS
SIPDIS
STATE FOR EB/IFD/ODF, EB/IFD/OMA
STATE ALSO FOR EB/ESC/TFS, EUR/UBI, IO/T
PARIS ALSO FOR OECD
TREASURY FOR IA/OFFICE OF TRADE FINANCE
E.O. 12958: DECL: 01/23/2017
TAGS: PREL EFIN MNUC EXIM UNSC OECD NL
SUBJECT: NETHERLANDS/IRAN: HALTING EXPORT CREDITS
REF: A. STATE 4760
B. THE HAGUE 106
C. THE HAGUE 94
THE HAGUE 00000121 001.3 OF 002
Classified By: ECONOMIC COUNSELOR KAREN ENSTROM,
REASONS 1.4 (B) AND (D)
1. (C) Ambassador delivered ref A points on halting export
credit insurance for Iran to Dutch Finance Minister Gerrit
Zalm on January 17. Minister Zalm told the Ambassador the
Netherlands was fully committed to implementing UNSCR 1737
but was not prepared to halt export credits for Iran.
EconCouns had also shared and discussed points on January 16
with Nicole Bollen, Coordinator for International Financial
Issues at the Ministry of Finance (MOF) and Dutch
representative to the Paris Club and OECD Export Credits
Group. Per refs B and C, Emboffs discussed the issue
separately with Ministry of Foreign Affairs (MFA) officials
prior to the January 22-23 GAERC.
2. (C) On January 22, EconCouns followed up with Bollen and
Martin Masselink, also from the MOF Office of International
Financial Issues. These officials explained that the GONL
was not willing to act unilaterally on this issue but
preferred a multilateral approach. Nonetheless, Bollen said
export credit insurance through the Dutch export credit
agency (ECA) Atradius was already "limited and restrictive"
and subject to strict due diligence procedures. Within a
maximum credit exposure ceiling for Iran of 1.5 billion euros
($1.9 billion),Masselink said only 1 billion euros ($1.3
billion) of older and outstanding loans and guarantees
currently existed. He clarified that all new issuances of
export insurance credit would be subject to a case-by-case
assessment and approval by the MOF. Masselink also shared on
a close-hold basis that the GONL had recently put in place an
individual cap of 25 million euros ($32 million) on any new
cases.
3. (U) Dutch-Iran Trade
Estimated Total Dutch Exports to Iran
(Thousands of U.S. Dollars)
--------------
2004 $641,154
2005 $945,206
2006 (Jan-Oct) $766,654
Top Dutch Exports to Iran (2005)
(Thousands of U.S. Dollars)
--------------
Mineral fuels $345,161
(incl processed)
Machinery and $196,828
transport equipment
Chemical products $190,987
Estimated Total Iranian Exports to the Netherlands
(Thousands of U.S. Dollars)
-------------- --------------
2004 $684,311
2005 $1,102,330
2006 (Jan-Oct) $1,303,235
THE HAGUE 00000121 002 OF 002
Top Iranian Exports to the Netherlands (2005)
(Thousands of U.S. Dollars)
--------------
Mineral fuels $1,009,141
(incl processed)
Chemical products $28,101
(source: Dutch Central Bureau for Statistics)
ARNALL
SIPDIS
SIPDIS
STATE FOR EB/IFD/ODF, EB/IFD/OMA
STATE ALSO FOR EB/ESC/TFS, EUR/UBI, IO/T
PARIS ALSO FOR OECD
TREASURY FOR IA/OFFICE OF TRADE FINANCE
E.O. 12958: DECL: 01/23/2017
TAGS: PREL EFIN MNUC EXIM UNSC OECD NL
SUBJECT: NETHERLANDS/IRAN: HALTING EXPORT CREDITS
REF: A. STATE 4760
B. THE HAGUE 106
C. THE HAGUE 94
THE HAGUE 00000121 001.3 OF 002
Classified By: ECONOMIC COUNSELOR KAREN ENSTROM,
REASONS 1.4 (B) AND (D)
1. (C) Ambassador delivered ref A points on halting export
credit insurance for Iran to Dutch Finance Minister Gerrit
Zalm on January 17. Minister Zalm told the Ambassador the
Netherlands was fully committed to implementing UNSCR 1737
but was not prepared to halt export credits for Iran.
EconCouns had also shared and discussed points on January 16
with Nicole Bollen, Coordinator for International Financial
Issues at the Ministry of Finance (MOF) and Dutch
representative to the Paris Club and OECD Export Credits
Group. Per refs B and C, Emboffs discussed the issue
separately with Ministry of Foreign Affairs (MFA) officials
prior to the January 22-23 GAERC.
2. (C) On January 22, EconCouns followed up with Bollen and
Martin Masselink, also from the MOF Office of International
Financial Issues. These officials explained that the GONL
was not willing to act unilaterally on this issue but
preferred a multilateral approach. Nonetheless, Bollen said
export credit insurance through the Dutch export credit
agency (ECA) Atradius was already "limited and restrictive"
and subject to strict due diligence procedures. Within a
maximum credit exposure ceiling for Iran of 1.5 billion euros
($1.9 billion),Masselink said only 1 billion euros ($1.3
billion) of older and outstanding loans and guarantees
currently existed. He clarified that all new issuances of
export insurance credit would be subject to a case-by-case
assessment and approval by the MOF. Masselink also shared on
a close-hold basis that the GONL had recently put in place an
individual cap of 25 million euros ($32 million) on any new
cases.
3. (U) Dutch-Iran Trade
Estimated Total Dutch Exports to Iran
(Thousands of U.S. Dollars)
--------------
2004 $641,154
2005 $945,206
2006 (Jan-Oct) $766,654
Top Dutch Exports to Iran (2005)
(Thousands of U.S. Dollars)
--------------
Mineral fuels $345,161
(incl processed)
Machinery and $196,828
transport equipment
Chemical products $190,987
Estimated Total Iranian Exports to the Netherlands
(Thousands of U.S. Dollars)
-------------- --------------
2004 $684,311
2005 $1,102,330
2006 (Jan-Oct) $1,303,235
THE HAGUE 00000121 002 OF 002
Top Iranian Exports to the Netherlands (2005)
(Thousands of U.S. Dollars)
--------------
Mineral fuels $1,009,141
(incl processed)
Chemical products $28,101
(source: Dutch Central Bureau for Statistics)
ARNALL