German-Iranian trade relations booming under Ahmadinejad

A new report says Germany’s exports to Iran amounted to 4.37 billion euros during the first year of Ahmadinejad’s presidency (2005-06).

A new report says Germany’s exports to Iran amounted to 4.37 billion euros during the first year of Ahmadinejad’s presidency (2005-06).

A new report says trade relations between Iran and Germany are “booming” despite sanctions imposed against the Islamic Republic by the US and the European Union.

 

 

The Jerusalem Post reported on Sunday that Germany’s exports to Iran have exceeded 25 billion Euros since Mahmoud Ahmadinejad took office as Iran’s president in 2005.

Citing a statistical account of German-Iranian trade from the Federal Republic’s office of statistics in Wiesbaden, the report stated that the figures are unprecedented in the history of bilateral trade relations between Iran and Germany even before the 1979 Islamic Revolution.

According to the account, Germany’s exports to Iran amounted to 4.37 billion euros during the first year of Ahmadinejad’s presidency.

The account which covered the years 1950 to 2011 also shows that Germany’s annual exports to Iran hit 3.78 billion euros in both 2009 and 2010. In 2011, German exports resulted in 3.08 billion euros worth of revenue for German companies.

The Israeli daily noted that the flourishing bilateral trade relations between Germany and the Islamic Republic have been a source of frustration and anger for Israeli, British, French, and US efforts to impose tough EU economic sanctions against the country.

The report added that despite US pressures, German lawmakers have not passed unilateral economic sanctions against Iran.

The flourishing bilateral trade relations between Germany and the Islamic Republic are yet another proof to the failure of illegal sanctions imposed by the US and some European countries against Iran.

At the beginning of 2012, the United States and the European Union imposed sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran. The sanctions entered into force in early summer 2012.

On October 15, the EU foreign ministers reached an agreement on another round of sanctions against Iran.

The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegation, arguing that as a committed signatory to Non-Proliferation Treaty and a member of International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.

MYA/TE/SS/AZ

Sun Nov 4, 2012 6:43PM GMT

Article from PressTV

Related Articles :

Data shows German trade with Iran increased in 2010

Analysis: German-Iranian trade booming

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