Trade between Germany and
Iran declined steeply in the first months of this year, data from the
Association of German Chambers of Commerce and Industry revealed on Friday.
According to the figures,
reported by the German Funke media group, exports from Europe’s largest economy
to the populous Middle Eastern power plummeted by 52.6 per cent year-on-year to
233 million Euros (261 million dollars) in January and February.
It said that imports from
Iran dropped by 42.2 per cent to 41 million Euros.
“The market in Iran is
extremely difficult because of the U.S. sanctions and because of the country’s
economic framework,’’ the head of the German-Iranian chamber of commerce,
Dagmar von Bohnstein, said.
This week, Iranian
President Hassan Rowhani threatened to gradually pull out of the nuclear deal
with world powers because of crippling U.S. oil and banking sanctions that are
hampering the Islamic Republic’s efforts to break out of its economic
isolation.
One year ago, U.S.
President Donald Trump announced Washington’s exit from the 2015 pact, which
has curbed Iran’s nuclear activities as a way of preventing nuclear armament.
The lifting of sanctions
against Iran was a key element of the pact, but the U.S. has reimposed some
punitive measures over the past year.
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