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Germany sets up special Iran sanctions advisory office

Germany says it has established a special office to advise companies worried about their business dealings with Iran amid fears they will be targeted for US sanctions.

Based on an announcement by Germany's Economy Ministry, companies would be able to obtain information about the potential risks of their business activities from the official named as Iran Contact Point.

The ministry stressed that European sanctions relief for Iran, one of the terms of the 2015 nuclear agreement with Iran, still remained in place, AP reported. It added that government-backed export credit guarantees would also still available.

In May, Trump announced that he would pull America out of a 2015 nuclear agreement with Iran and re-impose the sanctions that the deal had envisaged to be lifted.

He has already emphasized that the sanctions which would be imposed on Iran would be at the highest level.

The sanctions would include a universal ban on Iran over buying or acquiring US dollars as well as restrictions over purchases of crude oil from the country and investing in its oil sector projects.

Subsequently, German economy minister was quoted by media as saying that the country would help firms maintain business with Iran where it could after US decision to reimpose sanctions on the Islamic Republic.

Peter Altmaier has told the Passauer Neue Presse newspaper that the government would help companies assess the situation and developments and ask the US to grant exemptions and deadline extensions.

Also, a top Iranian trade official was recently quoted as saying that German enterprises were exploring all avenues to maintain business with Iran once the United States re-instates sanctions against the Islamic Republic.

Abbas Ali Qasaeizadeh, the head of the German-Iranian Chamber of Commerce and Industry, was quoted by media as saying that Germany increased the level of its trade with Iran after the removal of sanctions in 2016.

Qasaeizadeh emphasized that a large number of German delegations that visited the Islamic Republic after 2016 in search of new business opportunities, stressing that this manifested the determination of Berlin in keeping its commercial ties with Tehran.

Source: Press TV

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