German-Iran trade grows

18th January 2011, Comments 0 comments

Trade between Germany and Iran grew last year despite EU nuclear sanctions against Tehran and as major German groups curtailed activities there as a result, official data showed on Tuesday.

German exports to Iran rose 2.6 percent to 3.5 billion euros ($4.7 billion) from January to November, according to provisional figures provided by the national statistics office Destatis.

Imports from Iran, particularly of crude oil and natural gas, soared 75.5 percent to 807 million euros while Iranian companies bought mainly machine tools from Germany.

The European Union adopted sanctions against Iran last year that were stricter than those imposed already by the United Nations in a bid to persuade Tehran to resume negotiations over its controversial nuclear programme.

Western powers accuse Iran of seeking to build a bomb under the guise of a civilian nuclear power programme, a charge Tehran has steadfastly denied.

Several major German groups, including Siemens, ThyssenKrupp and Daimler, sharply curtailed their business in Iran last year.

© 2011 AFP

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