US, EU exports to Iran soar despite sanctions

The US and Europe diverge on the need to uphold a landmark nuclear deal with Iran, but their trade path has taken a curiously similar trajectory since Washington reimposed sanctions on Tehran in August.

While Iran’s exports to the United States almost reached zero in October, its imports from the country grew, a month after the first round of the sanctions was imposed, new data has shown.

Meanwhile, German exports to the Islamic Republic soared during the period.

Official figures by the Federal Statistics Office showed German companies exported almost 400 million euros ($455 million) to Iran in October, a rise of 85 percent year-on-year.

Chemicals made up about half the German goods and machines and plant equipment accounted for a third, Reuters reported.

German exports to Iran grew by 4 percent to 2.4 billion euros in the first 10 months of this year, with Michael Tockuss of the German-Iranian Chambers of Commerce and Industry expecting them to continue growing.

The report is one rare piece of good news in an ongoing struggle to keep European trade with Iran on track.

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