Iran-EU bank transactions reach 5.5B euros

Business Materials 28 September 2016 18:44 (UTC +04:00)

Baku, Azerbaijan, Sept. 28

By Emil Ilgar – Trend:

The amount of bank transactions between Iran and the EU has reached 5.5 billion euros since President Hassan Rouhani took office in mid-2013, Omid Baraghi, head of Iran-Germany Chamber of Commerce, said Sept. 28.

He said Iranian banks have not been able to establish transactions with German banks, despite that 9 months pass from elimination of sanctions on Iran.

The European countries increased exports to Iran by 23 percent to $2.99 billion during the first five months of current Iranian fiscal year (March 20-Aug. 21, 2016).

Europe’s imports from Iran also increased by 2 percent - to $687 million - during the mentioned period.