March 07, 2012

US asks Spain to limit credit guarentees to Iran

This Wikileak is from McClatchy´s wikileaks database. It was dated from April 2008 and is a message from the US embassy in Madrid. The US ambassador pressed Spain´s head of the Export Credit Insurance Company (CESCE). Spanish officials said that they will continue to implement US policies on Iran and say they want to be in the "Main Current" of US sanction policies on Iran. However, Spain would also take into account its own economic and commercial interests in Iran, especially in oil and gas and would expect "equitable treatment" on its companies.

CESCE´s insurance policies on Iran exports is the world´s third export credit guarentees at the end of 2006. The US ambassador said that the exports to Iran should be carefully scrutinized and credit guarentees should be given to Iran sparingly.

Why do you believe that the US is "picking" on Spain and its excess credit guarentees to Iran? Do you think that the use of credit guarentees is Iran´s way of taking advantage of Spain´s want for oil as the seller? Why do you think the US got involved in the first place?

Wikileak

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