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Re point 2.(c) credits
(i) The measures embrace both the private sector (banks,
insurance companies, exporters) and the public sector.
(ii) It is forbidden to grant, directly or indirectly, any
new credits or loans whether from public or private funds, tied or untied, guaranteed or otherwise.
(iii) With regard to bank deposits, the following are banned:
opening of all new accounts;
substantial increases in existing non-dollar deposits from a date to be determined at national level and no later than on the date of entry into force of the embargo measures.
(iv) The measures set out above do not apply to the financing
of transactions not covered by the embargo.
(v) More favourable terms of payment than customarily used in international commercial transactions and not in keeping with business usage are forbidden.
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