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Germany Cuts Financial Help for Exports to Iran
Reported: 07:35 AM - Feb/12/08
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(IsraelNN.com) Germany has cut by 50 percent the financial guarantees it provides to companies that export to Iran, according to government figures. Prime Minister Ehud Olmert is visiting Germany, where he wants to convince Germany to halt all trade with Tehran so long as Iran continues to develop unsupervised nuclear power.
International pressure has resulted in Germany's cutting the financial guarantees, making it financially impractical for smaller companies to export to Iran. Government officials told opposition parties in the Parliament Monday that the aid fell to $730 million from more than $1.5 billion in 2004. Two German banks have stopped all dealings with Iran.
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