German export guarantees to Iran drop

Jan 29th, 2009

The Associated Press January 26, 2009 BERLIN: Germany’s government, which has been accused of jeopardizing international sanctions against Tehran by promoting trade with it, said Monday it has issued fewer export guarantees to German companies seeking to do business in Iran. The sanctions, strongly supported by the U.S. and Israel, are part of the long confrontation over Tehran’s nuclear ambitions. Chancellor Angela Merkel’s government has seen a significant drop in export guarantees that provide security for German companies doing business abroad for firms seeking to do business with Iran, government spokesman Thomas Steg said Monday. Steg told reporters there had been “a clear reduction as compared with the previous year” and they were being issued only on the basis of “specific, individual cases.” He did not provide any figures. Germany has come under fire from the United States and Israel for maintaining considerable trade with Iran.

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