§ 31. Sir Timothy Kitson
asked the Secretary of State for Trade what has been the cost to the Export Credits Guarantee Department following the decision of the Iranian Government to nationalise banks; and if he will make a statement.
§ Mr. Parkinson
Nationalisation of the banks in Iran took place on 7 June and no costs attributable to it have yet fallen on the Export Credits Guarantee Department. The outcome for British commercial interests at large is not yet fully apparent. However, we shall expect those British interests affected to be properly compensated.