An economist at Germany's Chamber of Commerce and Industry (DIHK) has told Reuters that German exports to Iran rose by 26 percent last year and by more than 30 percent in January alone, with the lifting of sanctions under the nuclear agreement of 2015
Trade between Germany and Iran was worth 2.9 billion Euros with exports of German goods accounting for 2.6 billion euros of that amount. DIHK foreign trade economist Volker Treier said he was sticking to the aim of boosting trade in goods between Germany and Iran to 5 billion euros by the end of 2018. Expressing disappointment at the trade levels so far, Treier said part of the problem was that hardly any major banks want to get involved in projects and business with Iran due to some U.S. sanctions that remain in place.