German exports to Iran halve in first half as U.S. sanctions bite

German exports to Iran fell by nearly half in the first six months of 2019, data showed on Monday, suggesting companies are scaling back business ties with Tehran to avoid trouble with the United States after Washington reimposed sanctions.


"The fact that trade between Iran and Germany has collapsed that massively is not a big surprise, unfortunately," Germany's BGA trade association said.


It pointed to the extra-territorial character of recent U.S. sanctions which means that companies from third countries are also punished if they do business with Iran.


"German companies are forced to choose between their market activities in Iran and the United States, so it's clear which market is preferred," BGA said.


פרסום ראשון: 08.12.19, 18:38