Lord CHELWOODasked Her Majesty's Government:
Whether they will make a statement on any agreement that has now been reached with our allies on the tightening of controls over the export of sensitive technology and limitation of credit terms to the Soviet Union.
§ Lord TREFGARNEDiscussions are continuing with our allies on the strengthening of the controls over the export of sensitive technology to the Soviet Union. It is not possible to say when agreement will be reached on the highly technical proposals involved. In common with our COCOM partners the Government have already tightened the controls by imposing a freeze on these applications relating to the Soviet Union that would require the prior approval of COCOM.
Credit support is available for exports to the Soviet Union on a case-by-case basis in line with the internationally agreed OECD Consensus. The interest rates applicable to the Soviet Union and other countries in the same category were increased by ¾ per cent, with effect from 1st July.