20% Increase in Trade Between Germany and Iran

The German ambassador in Tehran has reported a "20% increase" in trade volume between Iran and Germany, stating that we need to convince the U.S. Congress about the "benefits" of the nuclear agreement between Tehran and the West. Michael Clore-Breshtold made these remarks on Tuesday (November 14) in an interview with the Tasnim news agency. Mr. Clore-Breshtold mentioned that the trade volume between Iran and Germany is expected to exceed "three billion euros this year, indicating an annual growth rate of more than 20%." Previously, the CEO of the Iranian Railways had stated that "the volume of economic relations between Iran and Germany has significantly increased after the JCPOA, reaching approximately 2.9 billion euros by the end of 2017." According to the newspaper Donya-e-Eqtesad, Saeed Mohammadzadeh mentioned this at a meeting introducing investment opportunities in Iran's rail sector to German companies. Mr. Mohammadzadeh identified Iran-Germany relations and their "expansion in political and economic dimensions" as one of the "important priorities of the foreign policy" of the Islamic Republic. The German Ministry of Economy and Energy also expressed satisfaction with the signing of the JCPOA in a press statement, hoping that with the lifting of sanctions, trade and banking relations with Iran would return to normal. Sigmar Gabriel, the then German Minister of Economy, was among the first Western officials to visit Iran with an economic delegation after the signing of the JCPOA. The news of the significant increase in trade between Iran and Germany comes as Tasnim news agency reported on November 9 about the visit of a 70-member delegation of European Union officials and economic activists to Tehran. This news agency mentioned that one of the topics discussed during this visit was the establishment of an EU office in Iran, noting that in addition to 25 "high-ranking" officials in this delegation, other members included economic activists in agriculture, food industries, and rural development. Following the nuclear agreement in Vienna between Iran and the West, several economic delegations from various EU countries have visited Iran. However, despite the lifting of nuclear sanctions, some European banks are acting cautiously in their relations with Iran. Major European banks, including those in France and Germany, have paid millions and sometimes billions of dollars in fines to the United States for their banking connections with Iran over the years. The German ambassador in Tehran also referred to critical remarks by U.S. President Donald Trump against the JCPOA, stating that the leaders of France, Britain, and Germany have "encouraged the U.S. government and Congress to consider the consequences of their decisions regarding the security of the U.S. and its allies before taking steps that could undermine the JCPOA." Michael Clore-Breshtold added that "now is the time to do everything we can to convince the U.S. Congress of the benefits of the nuclear agreement." Trump has repeatedly called the JCPOA the "worst" agreement in U.S. history and accused Iran of violating its "spirit." Meanwhile, the Director General of the International Atomic Energy Agency has described Iran's nuclear agreement with world powers as a "significant achievement." Yukiya Amano has repeatedly confirmed Iran's compliance with its commitments under this agreement.