Ambassador: Trade turnover between Iran and U.S. growing despite of sanctions

Photo: Ambassador: Trade turnover between Iran and U.S. growing despite of sanctions / Business News

Baku, Azerbaijan, Feb.1
By Temkin Jafarov - Trend:

Despite sanctions imposed by the U.S. and its allies on Iran, the trade turnover between the U.S. and Iran is growing, Iranian ambassador to Azerbaijan Mohsun Pakayin told Trend on Feb.1.

The trade turnover between the two countries amounted to $360 million as of 2013, according to the ambassador. The trade turnover between the U.S. and Iran was equal to $252.3 million in 2012, according to ISNA news agency.

As a result of sanctions, the trade turnover between the two countries started to drop beginning from mid-2010, while its growth is observed from mid-2012, the diplomat said.
The trade turnover between the two countries increased by 39 percent (to $118.5 million) in January-April 2013 compared to the same period of 2012.

Pakayin pointed out that immediately after the imposing of the sanctions a decrease was observed in economic relations of the two countries. However, later the U.S. companies began to find circuitous legal ways for cooperation, after which the trade turnover began to grow.

Taking into account the agreement signed in Geneva (lifting of several sanctions against Iran), the trade turnover between Iran and the U.S. will increase even more, the ambassador said.

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