News

According to information obtained by the German daily Süddeutsche Zeitung, the German government has now decided to drop its opposition to putting the European-Iranian Trade Bank (EIHB) on an EU black list during an upcoming review of EU sanctions against Iran.

Despite Iran's pariah status, Germany is still the third-largest exporter to the country, after the United Arab Emirates and China. Last year, German exports to the Islamic republic were worth €3.8 billion ($5.5 billion). A number of major companies such as Siemens and ThyssenKrupp have recently decided to stop doing business with Iran, however.