The credit insurance company Euler Hermes will open a credit line worth $5 billion to Iran, which will be paid in two or three years, Iranian Deputy Minister of Economy Mohammad Khazaei said.
The Iranian authorities vowed to pay previous loan installments, which have turned into outstanding debts as a result of sanctions, within one year.
He further said that Moscow has also recently agreed to open a $2-billion line of credit for Iran, which will be allocated to two projects in the ministries of transport and energy, Trend reports.
