EGFI to issue guarantees for oil purchasers of IRENEX

TEHRAN, May 01 (MNA) – The CEO of the Export Guarantee Fund of Iran (EGFI) announced that the fund is to issue guarantees for oil purchaser of Iran Energy Exchange (IRENEX) and related negotiations with the Iranian oil ministry are underway.

According to Afrooz Bahrami, who spoke with Mehr News correspondent on Sunday, “EGFI is in charge of covering trade and political risks of oil and non-oil exports, therefore, it provides services to domestic stocks market including IRENEX and Mercantile Exchange Market (IME).”

“In future transactions of the named markets, EGFI will act as a facilitator by issuing guarantees,” she said, “At IRENEX we will ease oil sales, thus.”

“We are resolved to tighten ties between the purchasers from the private sector and the Iranian government and will cooperate with the oil ministry considering the recent decision of the US about ending waiver grace period for Iranian oil customers,” she described.

“As the exports fund of the country, which is in contact with counterparts across the globe, we try to compensate for the blocked channels,” Bahrami said.

Answering a question about the EGFI’s wages for issuing exports guarantees, the official explained that “wages for issuing guarantees for exporters to Iraq and Afghanistan are less than one percent presently and we are to re-reduce the wages for exports to neighboring countries.”

HJ/4601674

News Code 144742

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