German companies seeking way around US sanctions on Iran
Tehran, Iran, April 17
By Mehdi Sepahvand - Trend:
Some German companies are finding it hard to start business with the post-sanctions Iran due to their business being somehow tied to the US, Ina Vettkotter, VDMA (German Engineering Federation) representative at Iran Plast 2016 exhibition said.
"But I think every company tries to find its own way to deal with that phenomenon," she told Trend April 17.
European companies which used to hope to have an exquisite chance of starting business with Iran after the removal of international sanctions are being discouraged since they often find themselves tied to the still-in-place US primary sanctions.
As a prime example, Airbus CEO Fabrice Brégier said last week that despite a deal to sell airplanes to Iran, the company could not defy the US sanctions by using as it does US-made parts in its products.
However, many foreign delegations, largely from Europe, have been visiting Iran to make deals with partners here.
"Partnership with Iranians has a long tradition. Our companies are quite satisfied with the event here and they had a lot of discussions with Iranian sides who are interested in starting cooperation," Vettkotter said.
"We should bring together the official sides as well in order to create more opportunities. It's not much about buying a machine as starting a long-term partnership."
The international sanctions that had crippled Iran's economy were lifted following a January implementation of a deal between Iran and world powers called the Joint Comprehensive Plan of Action (JCPOA). However, the problem of US primary sanctions has already started to feel heavy on Iran's international business, finding reverberations in official statements from Iran inviting the US to be more cooperative.
Foreign Minister Mohammad Javad Zarif on April 16 said Washington should do more to remove obstacles to Iran's banking system.
On April 15, Valiollah Seif, the head of Iran's Central Bank, accused the US and the EU of failing to honor the JCPOA by keeping Iran locked out of the international financial system.