Iran News ...


08/18/12

U.S. exports to Iran on the rise

Source: Radio Zamaneh

The Wall Street Journal reports that U.S. exports to Iran are increasing despite the rising enmity between the two countries. Proctor & Gamble and Coca-Cola have faced no restrictions in dealing with Iran, and U.S. wheat exports to Iran, which resumed this year after a two-year halt, are still going strong.

The majority of U.S. exports to Iran include medical preparations and equipment, pulpwood and agricultural goods.

However, at the same time, European companies have been running into difficulty with U.S. sanctions laws for their dealings with Iran.

Experts have explained the disparity, saying corporate America has been more successful in pleading its cases with U.S. lawmakers.

According to The Wall Street Journal report, in the first six months of the current year, U.S. exports to Iran have increased by 70 percent, an increase of $160 million.

The increase comes amid tightening U.S. and EU sanctions against Iran.

U.S. sanctions take punitive measures against any company or country that has dealings with Iran. In view of these sanctions, many European companies have voluntarily decided to cut off or reduce business with Iran.

EU exports to Iran in the first five months of the year have slid by 32 percent, falling from a value of 4.2 billion euros to 2.79 billion euros.

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