German exports to Iran fell by nearly half in the first six months of 2019, data...
BERLIN - 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.
Sales to Iran plunged by 48% to 678 million euros from January through June year-on-year, data from the Federal Statistics Office reviewed by Reuters showed. Imports from Iran declined by 43% to nearly 110 million euros. 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.
President Donald Trump last year pulled the United States out of a nuclear accord between Iran and major powers. Under the 2015 deal, international sanctions against Iran were relaxed in exchange for Tehran curbing its nuclear program.
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